- Islamic finance is ethical finance.
- The two main principles of ethical finance are the avoidance of interest and the avoidance of uncertainty. Both parties in a transaction share in the profits – debt and making money from money are discouraged.
- IMPORTANT POINT: Albani believes ethical finance should be readily available to everyone as the easily accessible alternative to convential interest-based borrowing.
- Albani and the operation of the CHAIN FREE® Home Owners Plan™ are in accordance with Shari’a-compliant Islamic finance, guided by our Shari’a Advisory Board (SAB).
Shari’a Advisory Board
Professor Humayon Dar (Chief Sharia Officer)
Professor Dar is an internationally-renowned Islamic banking and finance expert and a champion of cooperation between Islamic and conventional financial markets.
Professor Dar holds a BSc (Hons) and MSc (both in Islamic Economics) from the International Islamic University (IIU) Islamabad and has an MPhil and PhD (both in Economics) from Cambridge University. Dr Dar was Head of Dar Al Istithmar (subsidiary of Deutsche Bank).
Professor Dar was Chief Executive Officer of BMB Islamic Limited (part of BMB Group), Associated with Institute of Islamic Banking & Insurance (IIBI), Director of the Arab-British Chamber of Commerce, Honorary Senior Fellow at Cass Business School (City University London) and Honorary Fellow at the University Of Durham and currently is Chairman of Ebiz Consulting.
The SAB comprises three eminent scholars in the field of Islamic finance:
Mufti Barkatulla (Chairman)
Mufti Barkatullah is a prominent Sharia scholar with a strong background in economics and finance.
Mufti Barkatullah received an MPhil in Informatics from the University of Wales (UK). He acquired a Mufti (diploma) in Islamic law and Fazil (Bachelor of Islamic Studies) from the world famous Islamic Seminary, Darul Uloom Deoband, India.
Mufti Barkatullah is a member of the Sharia Supervisory Committees of several Islamic financial institutions including United National Bank, Alburaq of Arab Banking Corporation London, Lloyds TSB and Al Rayan Bank (formally Islamic Bank of Britain).
Dr Asyraf Wajdi Bin Dato’ Dusuki
B.Acc (Hons) IIUM, MSc (Islamic Economics, Banking & Finance) Loughborough, PhD (Islamic Banking & Finance) Loughborough.Dr Asyraf Wajdi Dusuki is an Islamic Financial Consultant. Currently he serves as a Shariah Advisor to Affin Islamic Bank Malaysia. Prior to this, he was an Assistant Professor at the Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia (IIUM).
Mufti Talha Ahmad Azami
Mufti Talha Ahmad Azami is a seasoned and dynamic UK based Sharia scholar, with Sharia degrees from India and Syria, and a Masters in Islamic Banking, Finance and Management. After 7 rigorous years of training in Sharia and Islamic Law, Mufti Talha travelled to Damascus (Syria) to enhance his religious scholarship. He plays an instrumental role in the management of BMB’s Sharia advisory services.
He has over 10 years experience working in Islamic Academia, under the auspices of his father Mufti Iqbal Azami and other prominent scholars of India. He has translated and edited into English, numerous classical Islamic writings.
Mufti Talha represents a generation of younger Sharia scholars continuing to expand the frontiers of Islamic finance. His passion to contribute to the industry with Sharia based products, is duly met by a platform that aims to expand the frontier of the Islamic financial industry, through a rigorous process of innovation, built upon sound and established Sharia principles.
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