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Failaka is targeting this service to conventional managers who do not have an in-house Shariah board, as well as to Shariah-compliant managers in one geography with a desire to introduce their funds to overseas markets that require the assurance of a globally recognized Shariah board.
The Amanie-Failaka International Shariah Supervisory Board boasts of a world-renowned and experienced board of four highly qualified Shariah scholars. The board was composed with diversity in mind and aims to facilitate worldwide acceptance with scholars from Saudi Arabia, Kuwait, Qatar, and Malaysia.
The Amanie-Failaka International Shariah Supervisory Board consists of the following scholars:
Dr. Mohamed Ali Elgari (Saudi Arabia)
Dr. Mohd Daud Bakar (Malaysia)
Dr. Muhammad Amin Ali Qattan (Kuwait)
Dr. Osama Al Dereai (Qatar)
Commenting on the launch of the service, Mark Smyth, Managing Director of Failaka said:
"We are delighted to be working with Amanie in launching the Amanie-Failaka International Shariah Supervisory Board. We feel that the industry is in need of highly-reputed, competitively priced and expeditious service for obtaining Shariah approval on long-only funds. We are confident that many new funds will find our service compelling, as it will allow them to concentrate on their primary task of managing and distributing their products."
Founded in 1996, Failaka Advisors have been offering institutions and private investors the most detailed database of information on Shariah-compliant equity funds worldwide. The company has offices in Chicago and Dubai.
Amanie was founded by its President/CEO Dr Mohd Daud Bakar in 2005. A well known global Shariah scholar, Dr Bakar set up Amanie to realize his dream of providing a one stop center for global Shariah advisory and Shariah product development. Amanie is currently operating out of its two offices in Kuala Lumpur and Dubai.
Posted by Nadeen El Ajou
