Sharjah Islamic Bank

The Directors' Report and Condensed Consolidated Interim Financial Statements for Sharjah Islamic Bank PJSC have been released, covering the three-month period ending on 31 March 2024. The report provides an overview of the bank's financial performance and activities during this period.

The Internal Shari’ah Supervision Committee (ISSC) of Sharjah Islamic Bank has issued its annual report for the financial year ending 31 December 2023. The ISSC is responsible for the Shari’ah supervision of all the bank's activities, products, services, and contracts, and for determining Shari’ah parameters necessary for the bank's activities. The committee is also responsible for ensuring the bank complies with Islamic Shari’ah within the framework set by the Higher Shari’ah Authority (HSA). The senior management is responsible for ensuring the bank's compliance with Islamic Shari’ah, while the board bears the ultimate responsibility. During the financial year, the ISSC conducted Shari’ah supervision of the bank's activities, issued fatwas and opinions, monitored compliance, and supervised the bank's activities through internal Shari’ah control and audit.

The Internal Shari’ah Supervision Committee (ISSC) of Sharjah Islamic Bank has issued its annual report for the financial year ending 31 December 2023. The ISSC is responsible for overseeing the compliance of all bank activities with Shari’ah law, including policies, accounting standards, operations, and distribution of profits. The committee ensures compliance with the rules and standards set by the Higher Shari’ah Authority (HSA). The ISSC has abided by the Shari’ah standards issued by the Accounting and Auditing Organization for Islamic Financial Banks (AAOIFI) since 2018. During the financial year, the ISSC conducted seven meetings, issued fatwas, monitored compliance of policies and procedures, and supervised bank activities through the internal Shari’ah control division and internal Shari’ah audit.