Shariaa Committee

The Shariaa Committee of Tawuniya was formed on 25/2/2007 and began its entrusted tasks on 2/4/2007. The members of the Committee were selected from amongst the renowned, competent and widely experienced scholars and jurists (Ulema) having high knowledge in transactions jurisprudence, wide know-how in insurance and investment business.
The Committee is composed of their Eminence:
  • Sheikh/ Abdullah Bin Sulaiman Al-Manie (Chairman)
  • Sheikh/ Dr. Mohammed Bin Ali Al-Qarri Bin Eid (Member)
  • Sheikh/ Youssif Bin Abdul Al-Aziz Al-Farraj (Member)
The Committee performs the revision of all insurance and investment business relating to policyholders ‘account to ensure the Company’s entire compliance by the rules and principles of Islamic Law (Shariaa). The Committee principally depends on the revision to the Company’s Articles of Association, regulations and by-laws pertaining to the insurance and investment transactions of policyholders’ account in this field beside the relevant transactions, agreements, forms, manuals, procedures and issuing of legal decisions in this regard. Moreover, the Committee reviews any wordings or products referred to it and issues opinions thereon. Added to that, the Committee provides advice and consulting viewpoints on all inquiries raised by the Company. The Committee will arrange the issues pertaining to legal verification and scanning through assigning a competent body specialized in such matters. The relevant decisions will be taken by legal performance reports received by the Committee from the legal control bodies assigned.

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