Shariah Board (SB) is an independent body, that oversees the procedures and processes of the bank’s Islamic operations ensuring that they are in line with Shariah guidelines. The Shariah Board is expected to perform an oversight role on Shariah matters related to the FMFB-A operations and activities through the observations and reports from the Bank by identifying possible Shariah issues, if any, and propose the necessary corrective measures. FMFB’s Shariah Board (SB) is the highest authority in making the final decision on matters related to the Shariah in the Bank’s course of business operations.
Mohammad Mustafa Niazi (Shariah Board Chairman)
Dr. Niazi is from Ghazni province of Afghanistan. He served as the Chairman of the Shariah Board of Da Afghanistan Bank (DAB) from 2013 till 2020 as well Chairman of Shariah Board in Bank Milli Afghan from 2009 till 2012. Dr. Niazi is a well-known outstanding Scholar of Shariah and a researcher on Shariah issues on National and International Level. He has a vast Knowledge and experience of Islamic Banking who obtained his Doctorate in Shariah and Law from International Islamic University Islamabad, Pakistan and his Master Degree, LLM -Shariah and Law from the Islamic University of Madinah al Munwarah -Saudi Arabia as well graduated from the LLB Shariah and Law of Islamic University of Madinah al Munawarah – Saudi Arabia. He has experience of teaching Shariah and Islamic jurisprudence in many Islamic Universities, he is a permanent Lecturer in the Shariah and Law Faculty of the Nangarhar University for the BA and Master level Programs. Beside this he remined as a Shariah Law lecturer at Islamic International University of Islamabad, Imam Bukhari University Peshawar of Pakistan, Dawaat ul- Jihad University Peshawar Pakistan. Furthermore, Dr. Niazi delivered numerous Islamic Trainings Courses in banking sectors of Afghanistan. He also received Islamic Banking Capacity Building certificates from Malaysia and Pakistan on various issues.
Mohammadi Khan Yaqoobi (Shariah Board Member)
Mohammadi Khan Yaqoobi has 15 years + legal and Banking experience in Afghanistan’s Banking & Financial Sector including telecom sector and has adequate experience in the area of drafting Islamic banking laws, regulations, procedures, guidelines, polices, bylaws and international agreements and MOUs. He joined First Micro Finance Bank – Afghanistan such as a Shariah Board Member and has strengthened the Bank in the area of reviewing and approving Islamic Banking Policies and Islamic Banking Products. He played a vital role in providing Shariah Opinions on Shariah matters to FMFB- Afghanistan. Prior to joining FMFB-A, Mr. Yaqoobi held a number of senior positions at Banking & Telecom sectors. This included Da Afghanistan Bank (central bank), MTNA, Afghan Wireless Communication Company (AWCC) and NRC. He also has extensive academic credentials, having lectured at many private educational Universities & Financial institutions in Kabul, including Dunya, Kardan, Karwan, Jahan, Pesgham Universities, and was an Outstanding & Distinguished Trainer of Islamic banking in AIBF- DAB.
He holds an LL. B in Shariah & Law from the International Islamic University in Islamabad, Pakistan; an LL.M in Shariah & Law from Dawat University in Kabul having specialization in Sukuk & Islamic Capital Markets in the light of Islamic Jurisprudence and Law; and MA ( Al- Almya) in Islamic Studies & Arabic from Wifaq ul Madaris Multan, Pakistan, LL.M Course completed in International Trade Law from IIUI- Pakistan. PGD in Islamic Banking & Finance from Kampala International University, Ugenda. He also holds many certifications in Islamic banking from Asian Countries such NIBAF-SBP, Malaysia and Singapore.
Abdul Samad Keramat (Shariah Board Member)
Mr. Keramat is from Nangarhar province of Afghanistan. He has completed his both Degrees (LLB and Master) from Shariah faculty of Kabul university by having specialization in Islamic Laws. Currently he is pursuing his Ph.D. in Islamic Finance and Economy from Istanbul Sabahattin Zaim University of Turkey. In addition to the mention degrees he has completed the LLM courses in Legal Studies, Master Degree of laws, at Maurice A. Deane School of Law, Hofstra University in New York. Beside this he has got his basic Hadith and other Islamic Shariah Education degree which is equivalents to BA level from the Jamiya Farooqiyah, Afghanistan. He has enough experience of project management, legal services, contract management, banking law, Shariah law, Islamic Jurisprudence who worked as a Shariah Advisor for Islamic Banking, Project Director, Community Court Observation, funded by the (USIP).
He has been serving as an associate Professor of Shariah and law faculty of Kabul University for more than fifteen years where he developed several legal case books for the students of law and Shariah faculties.
He served as a legal and regulatory supervisor in MTN-A a multinational telecommunication company in Afghanistan. in addition to his work as legislation specialist in a world bank funded project in the ministry of agriculture and irrigation, Mr., Keramat participated in several workshops of Effective management of leadership skills in serval workshops. He also participated in the Commercial Mediation and Arbitration skill held by IDLO in Afghanistan.