Client Category

Engagement details

Bahrain’s leading
Islamic retail bank

In response to the Islamic Bank’s request, SRB has been engaged as an internal Sharia auditor to assist the Bank in augmenting the internal Sharia audit oversight, structure, non-compliance monitoring function together with reporting commitment to the SSB.

SRB was engaged for auditing and identifying the weaknesses in Sharia controls and making recommendations to remediate the gaps between the existing Bank’s practice and SSB guidelines and AAOIFI Sharia standards

A modern, innovative and dynamic bank in the Kingdom of Saudi Arabia

Born 40 years back in Saudi Arabia, this bank has one of the largest suites of Sharia compliant products and treasury services dedicated to companies, individuals and banking institutions in the Kingdom. We conducted our training program on how to conduct Sharia audit on complex, cross-functional transactions, in an extremely compressed time-frame. Our training helped broadened their Sharia supervisory framework in evaluating their Sharia control design and investigate Sharia risks.

Saudi banks committed to innovation, professionalism and integrity

Two of the largest Banks in Saudi Arabia faced unprecedented challenges as it met increasing demands associated with rapidly expanding businesses while also harnessing innovative treatments with technological advances to improve Sharia compliant transactions. To ensure that its services are the best they can be, the two banks (separately) selected us to train their Sharia compliance officer and auditors at all levels – from front- line financing and trade finance to mortgages and syndication.

Largest financial institution in Saudi Arabia and a major powerhouse in the region

With more than 5 Million Customers, 352 branches in the Kingdom and 449 SAR Billion Assets, this bank is already the largest Islamic bank in the Arab world. As it has grown, its strategy has included a variety of innovative Islamic business processes. To help maintain its Sharia compliant supervisory challenges and be positioned for continued growth, the bank engaged us to design and implement a Sharia training program for its internal units. Our training and ability to integrate the Sharia compliance practice with the Sharia review function contributed to the bank’s confidence for the new assignment.

The fastest growing financial services institution in the Sultanate of Oman

With a visual design we delivered training to this newly opened Oman based Bank from its front-end staff to back-end operations. We separately trained the Sharia auditors and Sharia compliance officer on methods of auditing and supervising the new bank’s Islamic retail products.