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Role of Shari’a Board

DIBPL strives to bring to its customers, ‘The better way to bank’. To ensure that every transaction complies with Islamic Law, we have in place a ‘Shari’a Board’, comprising of scholars of the highest repute, with vast experience in the field of Islamic Jurisprudence, economics and banking.

The ‘Shari’a Board’ ranks above the Board of Directors and is empowered to issue ‘Fatwas’ on any matter proposed before it by the different business units of the Bank. This framework has made DIBPL an organization that practices Islamic finance in true letter and spirit.

Important Duties of the Shari’a Board:

Oversee the Development of all Banking & Financing Projects
Issue Shari'a Pronouncements - Source of Expert Knowledge Islamic Principles
Analyse Unprecedented Situation Not Covered by Shari'a Pronouncements
Analyse Contracts and Agreements Concerning Bank's Transactions
Supervise Shari'a Training Programs for Bank's Stuff
Prepare Annual Report on the Bank's Balance Sheet with respect to Shari'a Compliance
Ensure Immediate Correction of Breaches (If Any) in Compliance to Shari'a

Fawad Azim Chashmawala

Secretary Shariah Board & Unit Head – Product Development & Structuring – 021-35368540

Syed Sitwat Rizvi

Manager, Shariah Compliance & Product Development Department – 021-35368791