Riyadh – Mubasher: Gulf Lifting Financial Leasing (GLFL) assigned Shariyah Review Bureau (SRB) to facilitate the management of Sharia-compliant certification and practices across the former’s leasing products and portfolio accounts.

SRB will function as the Sharia adviser across Saudi Arabia, and help in the delivery of Sharia review services, such as overseeing investments, financial activities, and product structuring, according to a statement.

“[The] Sharia-compliant way of leasing is a simple, yet powerful way to connect with our customers while adding efficiency to our offerings. Outsourcing [the] Sharia Advisory function will help us achieve quality, accuracy, and assurance in our Islamic financial programmes,” CEO for GLFL Anan Hammodah said.

“Our Sharia Advisory model combines expertise – including 31 scholars from 18 countries, review systems and certificate verification technology,” CEO and founder of SRB Yasser Dahlawi stated.

GLFL was established in 1995 and is currently in the process of obtaining the Saudi Arabian Monetary Authority’s (SAMA) licence after converting from a limited liability to a closed joint stock company.

SRB provides Sharia Advisory and Sharia Audit solutions to clients all over the world.