New Appointment to DDCAP’s Sharia’a Supervisory Board

DDCAP is delighted to announce the recent appointment of esteemed Kuwaiti Scholar Sheikh Dr. Mohammed Al-Tabtabai, to its Sharia’a Supervisory Board (SSB).

Dr. Tabtabai joins the following Sharia’a Scholars on the DDCAP SSB namely Sheikh Abdullah Bin Suleiman Almaneea (Chairman), Sheikh Dr. Abdullah Almutlag, Sheikh Dr. Mohamed Ali Elgari and Prof. Dr. Mohamad Akram Laldin.

The inaugural SSB visit to London for the purpose of conducting a thorough review took place in 2013. The SSB subsequently convened in June 2013 to reconfirm the audit processes and the issuance of the Fatwa during an open forum hosted by DDCAP in Riyadh, Kingdom of Saudi Arabia. At this time, the SSB also issued a Fatwa in support of DDCAP’s Asset Facilitation Platform.

In September 2016, the “Ethos Asset Facilitation Platform ™ (“ETHOS AFP™”) was launched by DDCAP  to accommodate the specific trade and post trade requirements of our clients. DDCAP’s own Sharia’a Supervisory Board has been engaged with the development of ETHOS AFP™ and has issued a Fatwa in support of its automated processes. As part of an ongoing, recurrent Sharia’a review procedure, our esteemed Sharia’a Supervisory Board makes regular review of the platform, the transactions concluded across it and the trade documentation originated therefrom.

The recent appointment of Dr. Tabtabai to the SSB further reiterates DDCAP’s commitment to reassuring our clients that the substance and integrity of its business and service provision adhere to the Sharia’a principles and further development of the Islamic Finance industry.

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