Arcapita expands sharia supervisory board

Islamic financeBahrain-based alternative investment manager Arcapita has appointed an Islamic scholar to its Sharia Supervisory Board. Dr Al Shubaily holds a PhD in comparative jurisprudence and Sharia law and is a professor in the Higher Judicial Institute at Al-Imam Mohammed Ibn Saud Islamic University. In addition to his academic tenure, Al Shubaily has also published a number of papers on capital protection and investment services in Islamic jurisprudence. He also serves on the Shariah Board of the Accounting and Auditing Organisation for Islamic Financial Organisation and as chairman or a member of supervisory boards of several Islamic financial services firms. “The [Arcapita] Board review and monitor Arcapita’s investments to ensure they comply with Sharia principles and Sheikh Dr Yousuf Abdullah Al Shubaily will add considerable experience to our supervisory board,” said Abdulaziz Hamad Aljomaih, chairman of the board at Arcapita. ©2019 funds global mena

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