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Following the launch of Al Hilal Islamic Banking Services last October, Ahli United Bank (AUB) continues to enhance its Islamic banking offering to provide an unmatched range of products and services to its valued clients in Bahrain.
Professor Ali Al Quradaghi, chairman of the AUB Sharia board said, "We wish to acknowledge the efforts made by the Al Hilal Islamic Banking Division at AUB in going the extra mile to ensure that all contracts and financial products are in accordance with the principles and laws of the Islamic Sharia. We wish to see Al Hilal Islamic Banking Services grow to become one of the leading Islamic financial service providers in the region".
The Sharia board works independently and is free to review and comment on all contracts and transactions. AUB strictly follows the required conditions of the Sharia board in order to ensure that all operations of Al Hilal Islamic Banking Services comply with Sharia.
To monitor this, the bank has also appointed a Sharia Compliance Officer. AUB uses a modern and sophisticated operating system to maintain separate books and records for the Al Hilal Islamic Banking Division and ensure that funds and operations are fully segregated from the conventional banking operation. AUB has met all the requirements stipulated by the Central Bank of Bahrain for offering Islamic banking products and services.
