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Failaka Advisors has an established
practice in advisory services and fund and market research. We serve a
range of clients, including fund managers, banks, research firms, and
other parties interested in the Islamic investment market.
Failaka's Amanie-Failaka Shariah Supervisory Board provides an efficient and cost-effective service to review and approve "long-only" equity funds, private-equity funds, real estate funds, and most other types of investment for Shariah compliance. The Amanie-Failaka International Shariah Supervisory Board can therefore provide an international Shariah endorsement for clients who are seeking such endorsement for their Islamic equity funds.
This special service caters in particular to conventional managers who do not have an in-house Shariah board, as well as to managers of funds Shariah-compliant in one geography or jurisdiction who are looking to introduce their fund to other markets that require the assurance of an international board. An outline of the approval process can be viewed here.
The Amanie-Failaka International Shariah Supervisory Board boasts:
- A world-renowned and experienced board of four top Shariah scholars
- Geographic diversity, with scholars from Saudi Arabia, Kuwait, Qatar, and Malaysia
- An affordable fee schedule appropriate to new funds
- Top-notch customer service with efficient turnaround times
The Board consists of the following Shariah scholars:
 Dr. Mohamed Ali Elgari
Dr. Mohamed Ali Elgari is Professor of Islamic Economics and the
former Director of the Centre for Research in Islamic Economics at King
Abdul Aziz University in Saudi Arabia. Dr. Ali Elgari is an advisor to
several Islamic financial institutions throughout the world, and is on
the Shariah board of the Dow Jones Islamic index. He is also a member
of the Islamic Fiqh Academy as well as the Islamic Accounting &
Auditing Organisation for Islamic Financial Institution (AAIOFI). Dr.
Elgari has written several books on Islamic banking. He graduated from
the University of California with a Ph.D in Economics.
Dr. Mohd Daud Bakar
Dr. Mohd Daud Bakar is currently the Chairman of the Shariah
Advisory Council at the Central Bank of Malaysia. Previously, he was
the Deputy Rector (Student Affairs and Development) at the
International Islamic University Malaysia. Dr. Bakar is a Shariah board
member of various financial institutions, including the Accounting and
Auditing Organisation for Islamic Financial Institutions (AAOIFI)
(Bahrain), The International Islamic Financial Market (Bahrain), The
Securities Commission of Malaysia, Morgan Stanley (Dubai), and the Bank
of London and Middle East (London) among many others.
Dr. Muhammad Amin Ali Qattan
A highly regarded Shariah Scholar based in Kuwait. Dr. Muhammad
Amin Ali Qattan has a Ph.D. in Islamic Banking from Birmingham
University in the United Kingdom. A lecturer and a prolific author of
texts and articles on Islamic economics and finance, Dr. Qattan is
currently the Director of Islamic Economics Unit, in the Centre of
Excellence in Management at Kuwait University. He also serves as the
Shariah advisor to many reputable institutions such as Ratings
Intelligence, Standard & Poors Shariah Indices, and the Al Fajer
Retakaful, among others.
Dr. Osama Al Dereai
Dr. Osama Al Dereai is a Shariah scholar from Qatar, and has
extensive experience in teaching, consulting and research in the field
of Islamic finance. Dr. Al Dereai received his Bachelors in the Science
of Hadeth Al Sharef from the prestigious Islamic University of Madinah,
and his Masters from the International Islamic University (Malaysia).
Later, the University of Malaya conferred on him the Doctorate in
Islamic Transactions. Dr. Al Dereai is a Shariah board member of
various financial institutions, including among others the First
Leasing Company, Barwa Bank, First Investment Company, and Ghanim Al
Saad Group of Companies.
For more information, please email us at dubai@failaka.com.
Failaka's advisory services also include:
- Due diligence on Islamic funds and fund managers
- Feasibility studies
- Business case development
- Support on fund setup and related advisory work
- Comparative fund analysis & recommendations
- Market research
- Industry-related research
To discuss your research needs,
discuss feasibility and scope, or learn more about our capabilities and
fees, contact us directly at chicago@failaka.com.
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