Shariah Board

Sheikh Wan Rumaizi Wan Husin - Chairman

Sheikh Wan Rumaizi Wan Husin has been with the Bank for eight years and served in the capacity of Shariah Committee Member. Recently, he has been appointed as the new Chairman of the Shariah Committee of Al Rajhi Bank Malaysia effective 1 January 2022.

Sheikh Wan Rumaizi Wan Husin is the former lecturer at the Department of Fiqh and Usul al-Fiqh at the Kulliyah of Islamic Revealed Knowledge and Human Sciences of International Islamic University Malaysia. He obtained his first degree in Fiqh and Usul al-Fiqh from al Al-Bayt University Jordan and Master’s degree in Fiqh and Usul al-Fiqh from International Islamic University Malaysia. He is currently pursuing his Ph.D in Islamic Banking and Finance at the IIUM Institute of Islamic Banking and Finance, and very active in delivering speech and specialized training on Shariah and in the areas of Fiqh Mualamat and Islamic Economics, as well as Fiqhi-Medico.

Sheikh Rumaizi has vast experience in Shariah consultation where he was the module developer and member of Working Group for MS 1900: 2014 Standard (Shariah-based Quality Management Systems – Requirement with Guidance)  secretariat by SIRIM, Shariah Advisor for Yayasan Muamalat Belia, Shariah Advisor for Tissue Bank HUSM Kubang Kerian, Shariah Committee Representative to BKRM’s BOD Meeting. Currently Sheikh Rumaizi served as the Shariah Committee Member of Bank Kerjasama Rakyat, Shariah Committee Member of Rakyat Holdings, Shariah Committee Member of PruBSN Takaful, Shariah Advisory Committee Member for International Islamic University Malaysia, Panel Consultant Member for International Research Centre in Islamic Economy and Finance (IRCIEF), KUIS, Consultant for Sadaqah House, IRCEIF-IDB, KUIS and Member of International Union for Muslim Scholars (Ittihad al-‘Alami li ‘Ulama’ al-Muslimin), Qatar.

Prof. Dr. Younes Soualhi was appointed as Deputy Chairman of the Shariah Committee of Al Rajhi Bank Malaysia effective 1 January 2022. Currently, he is the Senior Researcher, the Deputy Director of Research and Innovation and the Head of Islamic Banking Unit at the International Shariah Research Academy for Islamic Finance (ISRA). Prof. Younes also teaches at INCEIF, the Global University of Islamic Finance, Malaysia.

A distinguished subject matter expert, Prof Younes was previously Chairman of the Shariah Committee of HSBC Amanah Malaysia Berhad, and currently Chairman of the Shariah Committee of Munich Re Retakaful, Chairman of the Shariah Council of Experts for Salam Takaful (Nigeria), Deputy Chairman of the Shariah Committee of ABC Bahrain Bank, Algeria,  the sole Shariah Advisor for Kuwait Retakaful (Labuan, Malaysia), and Shariah Committee member of Bursa Malaysia. At the moment, he sits on the Shariah Sub-Committee (Malaysia region) of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). He is also a registered financial planner (RFP, MFPC-Malaysia).

As a keen writer and researcher, Prof. Younes published many books and articles on Islamic Banking and Finance. With an extensive working experience of 26 years in academia, he taught various courses on Islamic Finance, Usul al-Fiqh, and Fiqh al Muamalat at both undergraduate and postgraduate (M.A. and Ph.D.) levels.  

He graduated with B.A. in Shariah from Emir Abdulqadir University for Islamic Sciences (Algeria). He received his M.A. from International Islamic University Malaysia and Ph.D. from University Malaya, Malaysia. He also holds a Diploma in Human Sciences.

Sheikh Lokmanulhakim Bin Hussain currently serves as a researcher at International Shari’ah Research Academy for Islamic Finance (ISRA). He obtained his first class honours in both Bachelor of Arts degree in Shariah and Master’s degree in Fiqh from the Islamic University of Madinah, Saudi Arabia. He is actively involved in researches related to Islamic finance and has presented numerous research papers at various seminars and conferences. He sits as a member of Shariah Board of Al Rajhi Bank Malaysia since 2014. Apart from that Sheikh Lokmanulhakim also serves as Fatwa Fellow under Malaysian National Fatwa Council to respond to current issues on Islam through new media.

Dr. Habeebullah Zakariyah was appointed as Member of the Shariah Committee of Al Rajhi Bank Malaysia effective 1 January 2022. He is currently the Senior Lecturer and Deputy Dean, Academic and Internationalization at the IIUM Institute of Islamic Banking and Finance, International Islamic University Malaysia (IIUM).

His areas of expertise and interests include Transactions in Islamic Banking and Finance, Islamic Social Finance, Islamic Capital Market, Takaful and Retakaful, Islamic Wealth Management, and Principles of Islamic Jurisprudence. Dr. Habeebullah has published and joint published numerous articles and book chapters on these subject matters in highly reputable academic journals.

He taught many courses in the field of Islamic Banking and Finance. Previously, he was the Head of Program for M.Sc. and Ph.D. in Islamic Banking and Finance at the IIUM Institute of Islamic Banking and Finance. He is also supervising postgraduate (M.A. and Ph.D.) students on Islamic Banking and Finance at the Institute.

He holds L.L.B in Shariah and Law from Omdurman Islamic University, Sudan, Master’s Degree and Ph.D. in Muamalat (Islamic Law of Transactions) from International Islamic University Malaysia. As an accomplished speaker, Dr. Habeebullah actively shares his knowledge and insights through regular participation in local and international conferences. 

Dr. Ashurov Sharofiddin was appointed as Member of the Shariah Committee of Al Rajhi Bank Malaysia, effective 1 April 2022. He is currently the Assistant Professor at the International Islamic University of Malaysia’s (IIUM) Institute of Islamic Banking and Finance, and the Chairman of the Committee of Islamic Financial Services (CIFS). Dr. Ashurov is also a Shariah Advisor at Alif Bank, and Head of Due Diligence and the Central Asia Representative for Searaven Global Corp Ltd.

Viewed as a highly inspiring individual in his areas of expertise, a polyglot and a keen writer, Dr. Ashurov has published numerous books and articles and presented various papers on zakat, risk-based supervisory, Sukuk and dynamic capital structure.

Along with a PhD in Islamic Banking and Finance from Universiti Islam Antarabangsa Sultan Abdul Halim Mu'adzam Shah (UniSHAMS), Dr. Ashurov also holds MSc in Finance from IIUM and a Bachelor of Economics from the International University of Africa, Sudan.

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