Scholars with wide knowledge and extensive experience in Shari'ah law, Islamic economics and finance make up MIB's Shari'ah Board. As an independent body, the Shari'ah Board ensures that MIB conducts its business and transactions in strict compliance with the principles and objectives of Islamic law.
The three esteemed Shari'ah scholars as appointed by the Board of Directors are:
Dr. Ejaz holds a Doctorate in Philosophy from University of Karachi. He also holds a Master in Arts in Islamic Studies and L.L.B and was under the tutorage of the imminent Shariah Scholar Mufti Muhammad Taqi Usmani in the field of Islamic Banking and Finance. Multi-lingual Dr. Ejaz is fluent in Arabic, Persian, Urdu and English.
As a Shariah scholar, Dr. Ejaz became the Shariah Advisor/Shariah Board Member to a number of Islamic financial institutions and Investment Houses such as Habib Bank Limited- Islamic Banking Division, UBL Ameen Islamic Banking, BoP Taqwa Islamic Banking, Al Hamra Shariah Compliant Funds of MCB-Arif Habib Investment Management Limited and JS Islamic Pension Fund. Given his knowledge, he lectures at Jamia Uloom Karachi as well as a number of Training Institutions such as Institute of Business and Administration- Centre for Excellence in Islamic Finance (IBA-CEIF) and Hira Foundation Academy (HFA). He is also faculty member for the Centre of Economics (CIE), a division of Jamia Darul Uloom Karachi which is under the chairmanship of Mufti Muhammad Taqi Usmani.
As a member and Chairman of the Shariah Board of Maldives Islamic Bank (MIB) since 2011, Dr. Ejaz was instrumental in providing Shariah guidance and supervision and had issued a number of Fatwas on Islamic Banking operations and documentation to MIB. His books on Islamic Banking covering the philosophy and the practical application on Takaful, Murabaha and Ijarah, among others, were invaluable source of reference for bankers and practitioner.
Mufti Mohamed Rizwe is a well renowned scholar locally and internationally. He is currently holding the position of President since 2003 of the All Ceylon Jamiyyathul Ulama (ACJU), the apex body of Muslim Theologians which was established in the year 1924. He is also Ex Officio President of various committees of the ACJU.
He had his early education in Sri Lanka and a graduate of Jami'athul Uloomil Islamiyya, Karachi where he specialized in Islamic Jurisprudence. He gained MA in Arabic & Islamic Studies which is recognized by the Higher Education Commission of Pakistan.
He lectures in a number of colleges and serves in the capacity of President and an Advisor to a number of Arabic Colleges in locally and internationally. He is also a member of the Religious Advisory Board for His Excellency the President of Sri Lanka since May 2016 and an Executive member of the Supreme Council of Congress of Religions - Sri Lanka.
Mufti Mohamed Rizwe has been a frequent traveller and had
conducted, attended several programs in Asian, Middle Eastern, African,
European and North American countries for the purpose of Islamic awareness and
promoting peace and coexistence.
He is the Chairman of the Shari'ah Supervisory Council of
Amana Takaful PLC, member of the Shari'ah Supervisory Council of the Amana
Bank, Bank of Ceylon and Peoples Leasing Finance. He is also a member of
Shar'ah Boards of several other Islamic Financial Institutions in Sri Lanka.
As a member of the Shari'ah Board of Maldives Islamic Bank (MIB) since 2011, he has provided Shari'ah guidance on Islamic Banking products and operations.
Dr. Ibrahim Zakariyya Moosa is currently the Dean of the Center of Post-graduate Studies of Islamic University of Maldives. As a Shariah scholar, Dr. Zakariyya Moosa serves as a member of Shari'ah advisory board of several financial institutions. He lectures on Islamic Shari'ah and law in Islamic University of Maldives at tertiary, undergraduate and postgraduate levels.
He was formerly the rector of the former College of Islamic Studies and he has also served as a member of parliament for thirteen years.
He has a PhD in Fiqh and Usul al-Fiqh from the
International Islamic University Malaysia. He also holds a Masters Degree in
Fiqh from the same University and a Bachelor Degree in Islamic Shari'ah from
the Islamic University of Madinah. He has translated books on Islamic Finance, "An Introduction to Islamic Finance" by Mufti Muhammad Taqi Usmani and "Murabaha" by Dr. Ejaz Ahmed Samadani.
As a member of the Shari'ah Board of Maldives Islamic Bank (MIB) since 2014, he has provided Shari'ah guidance on Islamic Banking products and operations.