The Shariah Supervisory Board is an independent body comprising specialist jurists in Islamic Commercial Jurisprudence, which is entrusted with directing, reviewing and supervising the activities of Al Baraka Bank, in order to ensure that the bank complies with Shariah law. The board sets out to ensure that all Shariah matters regarding Al Baraka Bank are dealt with in a professional manner and in strict accordance with the Shariah standards set out by AAOIFI.
It is the responsibility of the Shariah Supervisory Board to carry out regular audits of the bank’s business operations, and to form, based on its reviews, an independent opinion. The Shariah Supervisory Board’s rulings and resolutions are binding on the bank.
Shaykh Mahomed Shoaib Omar serves as a member of the Shariah Supervisory Board of Al Baraka Bank. He completed his B.Com Law degree and LLB at the University of KwaZulu-Natal. He studied Arabic and Islamic Law personally under the renowned contemporary jurist, Mufti Taqi Usmani, at Darul Uloom Karachi and has received Ijaazah from him.
He was also a student of the Chief Qadi of India, Mujahidul Islam Qasemi, the founder of the Islamic Fiqh Academy of India and a distinguished authority in Muslim Family Law. During the past 35 years he has collaborated with Mufti Taqi Usmani in solving problems affecting Contemporary Applications in Islamic Law.
He has, for the past 17 years, also worked closely with well-known contemporary Shariah expert, Shaykh Abdus Sattar Abu Ghuddah, in the field of Islamic Finance and has extensive experience in the application of Shariah Law to contemporary situations, including Islamic Finance.
He was granted the right of appearance in the High and Constitutional Courts of South Africa in 1995.He successfully argued the landmark case of Amod v Road Accidents Fund in the Constitutional Court and Supreme Court of Appeal, which case recognised a duty of support flowing from an Islamic marriage.
He currently practices as an attorney, specialising in Shariah and Corporate Law. He has written a number of books and numerous articles on Islamic law and its contemporary applications, inclusive of Islamic Finance, in English and Arabic. He is regarded as expert in comparative jurisprudence (fiqh al muqaarin).
Mufti Zubair Bayat is the founder and current Ameer of Darul Ihsan Islamic Services Centre. He also serves on the board of Islamic Schools as well as Islamic financial institutions and as advisor to various organisations.
After matriculating he completed his Aalim Fadhil and Ifta courses at the famous Darul Uloom Deoband, India. He thereafter furthered his studies by obtaining his Master of Arts degree (cum laude) in Islamic Studies from the University of Johannesburg and obtained a certificate in Muslim Personal Law from the University of Islamabad.
After completing his formal studies, he occupied a post as a lecturer at Darul Uloom, Azaadville and then moved to Stanger where he established the Zakariyya Muslim School and served as Principal and Ameer. He also served as Chairman of the Association of Muslim Schools in KZN. He has travelled extensively delivering talks and workshops covering a variety of subjects, written many articles and published several books.
Mufti Jakhura serves in the Fatwa Department at the Darul Ihsan Research Centre in Durban preparing and issuing Islamic juristic rulings. He has established and heads the Centre for Islamic Economics and Finance SA (CIEFSA) - a non-profit organisation dedicated to increasing awareness and providing education in the fields of Islamic economics and finance, structuring Shariah-compliant transactions and providing Shariah-compliant commercial solutions at various levels.
In 2002, he completed with distinction, the Aalimiyah Course at Madrasah Taleemuddeen in Durban. In 2005, he completed a three-year specialisation course in in Islamic Jurisprudence (Fiqh and Fatwa) from Jamia Darul Uloom Karachi, under the guidance of Mufti Taqi Usmani, which culminated in the submission of a thesis on the topic of Shirkat and Mudharabat.
He is a Certified Shariah Accountant and Auditor certified by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) in Bahrain. He has an Advanced Diploma in Islamic Banking and Finance from the Karachi-based Centre for Islamic Economics.
Shaykh Yousef Khalawi is a prominent Saudi Arabian Shariah scholar with extensive experience and knowledge of Shariah law, Islamic finance and business development. He obtained a Bachelor of Shariah Law at Imam Muhammad bin Saud Islamic University where he graduated with honours. He completed advanced courses in comparative law, international commercial law, arbitration and dispute resolution, and received practical legal training at various international legal and consulting firms in Frankfurt, Geneva and London.
Shaykh Yousef Khalawi has served on the Board of Directors of various corporates around the world including serving as chairman of the audit, and governance committees. He is currently:
Shaykh Yousef Khalawi also has extensive experience and knowledge of regulatory frameworks and has contributed to the establishment of good corporate governance at various companies and non-profit organizations, with special focus on Shariah governance. He has been involved in the establishment of several Islamic collective investment schemes since 2000 as well as commercial and non-profit organizations. He made tremendous contribution in the development of the Islamic economy initiative around the world. His contribution towards awqaf foundations includes founding, managing, and restructuring.
Shaykh Yousef Khalawi has been a faculty staff at various universities in the Kingdom of Saudi Arabia and lectured on a number of subjects including Islamic sciences, Islamic civilization, comparative law, research methods and critical thinking at Bachelors, Masters and Doctoral level. He taught during his teaching career major classical literary works including al-Muwafaqaat of al-Shaatby, al-Furooq of al-Qaraafi, al-Itqan of al-Suyuti, Sahih Al-Bukhari and al-Muwatta of Maalik, and chapters on commerce on a number of Shafi’i, Maliki and Hanbali Fiqh books. His own literary works in Islamic sciences, Islamic civilization, and critical thinking have been published in various academic journals.
Shaykh Yousef Khalawi has been in the panel of many conferences around the world and delivered lectures on various topics including Shariah law, mainstream law, awqaaf, Islamic finance, and mainstream economics and finance.