MANAMA – Arcapita – a global leader in Shariah-compliant alternative investments – has appointed prominent academic and industry professional Sheikh Dr. Yousuf Abdullah Al Shubaily as a member of its Shariah Supervisory Board.

Dr. Al Shubaily holds a Ph.D. of Comparative Jurisprudence and Shariah and is a professor in the Higher Judicial Institute at Al-Imam Mohammed Ibn Saud Islamic University. He has published several research papers on capital protection, investment services in Islamic jurisprudence and Zakat on commercial debts.

Dr. Al Shubaily serves on the Shariah Board of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). He also serves as chairman or a member of several other Shariah Supervisory Boards of Islamic banks and financial institutions in Saudi Arabia and the wider region.

Commenting on the appointment, Abdulaziz Hamad Aljomaih, Chairman of the Board of Directors at Arcapita, said: “Our Shariah Supervisory Board is led by renowned scholars and practitioners with diverse schools of thought in Islam. The Board review and monitor Arcapita’s investments to ensure they comply with Shariah principles and Sheikh Dr. Yousuf Abdullah Al Shubaily will add considerable experience to our supervisory board.”

Dr. Al Shubaily said: “Arcapita has established itself as a global leader in Shariah-compliant alternative investments, playing a prominent role in bringing sophisticated alternative investments to Shariah-conscious investors. I look forward to joining the supervisory board as the firm pushes forward with its robust pipeline of Shariah-compliant investments across international markets.” — SG