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AAOIFI BOARD OF TRUSTEES

The Board of Trustees shall be composed of twenty part-time members to be appointed by the General Assembly every five years and they shall continue in office until members of the succeeding Board are appointed. The members of the Board of Trustees shall be elected from among the following categories, taking into account their geographical distribution:

• Regulatory and supervisory authorities (central banks, monetary authorities, etc).
• Islamic financial institutions
• Accounting and auditing firms whose professional work relates to Islamic financial institutions.
• Shari'a Fiqh scholars
• Users of financial statements of Islamic financial institutions.

The conditions of electing these members are specified in Article 12 of AAOIFI Statute. They are that a member shall be appointed to fill a vacant office by a majority of the votes of the General Assembly, and shall belong to the same category of the member whose office has become vacant, and the term of office of a member appointed to fill a vacancy shall terminate upon the expiry of the original term of the member whose office had become vacant. The Board of Trustees meets at least once a year. With the exception of the proposals to amend the statute of AAOIFI which requires the vote of three quarters of the members of the Board of Trustees, decisions in all matters before the Board are adopted by the majority of the members voting. In case of a tie, the Chairman shall have the casting vote. The powers of the Board of Trustees include, among others, the following:

• Appointment of members of AAOIFI's Boards and termination of their membership, in accordance with the provisions of the statute
• Arrangement of sources of finance for AAOIFI and investing those resources
• Appointment of two members from amongst the members of the Board of Trustees to the Executive Committee
• Appointment of the Secretary-General

Notwithstanding the provisions of the statute concerning the Board of Trustees' powers and authorities, neither the Board of Trustees nor any of its sub-committees including the Executive Committee, has the right to interfere directly or indirectly in the work of the other Boards of AAOIFI or influence them in any manner.

 

NAME

POSITION

STATUS

H.E Shaikh Ebrahim Bin Khalifa Al Khalifa

Minister of Housing, Kingdom of Bahrain

Chairman
 

H. E. Dr. Ahmed Mohamed Ali          

President, Islamic Development Bank

Member
 

H. E. Shaikh Saleh Abdullah Kamel

President, Dallah Al Baraka Group,

Jeddah, KSA

Member
 

H. E. Shaikh Abdullah Sulaiman Al Rajhi

 Chief Executive Officer, Al Rajhi Bank, KSA 

Member
 

H. E. Mr. Mohamed Sulaiman Al Omar

Chief  Executive, Kuwait Finance House, Kuwait

Member
     Tan Sri Syed Mokhtar Al Bukhary

Founder, Al-Bukhary Foundation, Islamic Arts Museum, Malaysia         

Member
 

H. E. Sayed Salim Raza

Governorm Stat Bank of  Pakistan, Karachi, Pakistan

Member
 

H. E. Mohammed Ali Bin Zayed Al Falasi

Deputy Governor, Central Bank of United Arab Emirates, Abu Dhabi, UAE

Member

Professor Sheikh Dr. Mohamed Saeed Ramadan Al Booti

Professor, Shari’a College, University of Damascus, Syria

Member
     Sheikh Adnan Al Qattan    Deputy Chairman of Board of Trustees,
  Royal Charity Foundation, Kingdom of Bahrain
Member
 

  Mr. Irfan Siddiqui

President & Chief Executive Oficer, Meezan Bank Ltd, Karachi, Pakistan

Member
 

Mr.Osman Elhadi Ibrahem

Managing Director, Shiekan Insurance & Reinsurance CO. LTD, Khartoum, Sudan

Member

   Mr Abdulrazzak Mohammed Elkhraijy

   Head of Islamic Banking Development Group,    National Commercial Bank, Jeddah, KSA

Member

   Mr. Ahmed Fayez Al Shamsi

Chief Financial Officer, Emirates Islamic Bank, UAE 

Member
 

Mr. Farid Mansour

Mansour & Co. PricewaterhouseCoopers, Cairo, Egypt

Member
 

Mr. Noor ur Rahman Abid

Managing Partner of Ernst & Young’s Assurance and Advisory Business Service (AABS) Manama. Kingdom of Bahrain

Member
 

Dr Ahmed Bin Abdulla Al-Moghames

Secretary General, Saudi Organisation for Certified Public, Accountants (SOCPA), Riyadh, KSA

Member

Dr. Mohamed Nedal Alchaar

AAOIFI’s Secretary General

Member/

Rapparteur

 

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