Alizz Islamic Bank honours the graduation of the first batch of the Tamkeen programme

Roundup Wednesday 27/March/2024 09:54 AM
By: Times News Service
Alizz Islamic Bank honours the graduation of the first batch of the Tamkeen programme

Alizz Islamic Bank, represented by the Shari’a Compliance & Audit Department, celebrated the graduation of the first batch of the Tamkeen programme for ‘Empowering the Second Line of Shari’a Supervisory Board Members’. The bank also announced the enrollment of the second batch of candidates for the programme.

The first-of its-kind programme which aims to enhance the knowledge and strength of potential future Shari’a Supervisory Board Members as one of the bank’s initiatives under the Manar Alizz umbrella, the program that aims to develop Omani Islamic Scholars to assume the role of Members in Shari’a Supervisory Boards in Islamic Financial Services Institutions in the future, by enhancing their knowledge on Banking, Economics, Legal, Finance & Governance in addition to the leadership skill sets aligned to SSB roles.

The ceremony was graced by Mr. Ali Al Mani, CEO of Alizz Islamic Bank, members of the Shari’a Supervisory Board, and other members of executive management.

Speaking about the graduation ceremony Mr. Issa bin Salim Al Riyami, Head of Shari’a Compliance and Audit said, “We emphasise the importance of collectively serving our country and we are dedicated to develop the future Shari’a Supervisory Board members and equipping them with the necessary knowledge and tools to succeed. It has been our immense pleasure to witness first-hand the success and growth of the first batch of candidates from the office of the Grand Mufti and we would like to welcome the second batch and wish them success”

It is worth noting that the Sharia Supervisory Board, through the reports submitted to it, monitors the Shari’a performance of the bank, which enables the board to evaluate the extent of compliance with Shari’a directives and decisions. It also provides its recommendations and advice to create value-added products for the Islamic banking industry and providing financing solutions to meet the high customer demand in the market. The Shari’a Compliance and Audit Department plays a vital role in monitoring the correct application of the Shari’a Supervisory Board’s instructions by overseeing the mechanisms used to create products and develop product related documents, while examining the executed transactions and applying control and auditing measures.