Omran Ebrahim Albalooshi

-Assist in managing the Sharia affairs of Al Salam Bank – one of biggest Islamic Retail Bank in Bahrain- as assigned mainly to supervise and participate in Sharia Structuring and Advisory activities, and severally in post transaction Sharia review, in order to maintain the Sharia compliance of the Products and Services offered by Al Salam Bank to their both Retail and Corporate clients.

-Managing Sharia non-compliance Risk Management function mainly to identify, measure, monitor, control, and manage any perceived risk of Sharia non-compliance by the Bank based on guidance and Fatwas issued by Sharia Supervisory Board of Al Salam Bank.

-Providing Sharia opinions, recommendations and advises that are driven from Sharia Board Fatwas and AAIOFI Sharia Standards, and providing necessary clarifications of their content and following up with the implementation of SSB Fatwas and Sharia Standards v through the Gap analysis.

-Moreover, I engage in developing Shari’a compliant financing structures to support the bank’s business units in developing new products, such as my participation in reviewing and analyzing Al Salam Bank Sukuk Issuance program documents.

• Reviewing Bank's all policies and procedures, as well as reviewing Standard Operating procedures of Bank's products and services.
• Responsible for reviewing and examining the adequacy and effectiveness of the bank’s Shari’a compliance system. This is to ensure that the bank’s activities are performed in accordance with Shari’a rules and principles as interpreted by the Shari’a Board, as well as the Shari’a standards issued by Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI).
• Conducting Sharia Training for Bank's employees, and working on improving their knowledge on Islamic Finance products.
• Preparing gap analysis on Sharia Supervisory Board fatwas ' Resolutions', and AAOIFI Sharia Standards, and follow up on implementing Sharia board resolutions and AAIOFI Standards.
• Managing Sharia compliance of Bank's SPVs, subsidiaries, and investment funds
• Periodical analysis of financing statements , restructuring/ rescheduling transactions.
• Conducting research to introduce new Sharia compliant products and services.
• Worked on a project in both Retail Banking and Wholesale Banking to provide end to end Sharia Counsel services for ensuring Sharia Compliance of Al Salam Bank’s standard legal documents for its products.

• Examining investment transactions, contracts, and Bank’s sources of income in order to ensure it complies with the Shari’a principles.
• Working closely with the Investment team and providing alternative structures to fulfill both Sharia and commercial requirements.
• Reviewing Bank's investments legal documents and assisting in product development.
• Conducting Sharia training for bank's staff
• Secretary of Shari'a Supervisory Board: Preparing for Sharia Board meetings, drafting Sharia Board Fatwas and resolutions, and liaising Bank's management inquiries to Sharia Board.

• Ensuring that the necessary policies and procedures are implemented as per Shari'a requirement.
• Reviewing investment transactions to ensure Compliance with Shari'a requirements
• Coordinating in implementation of Shari'a Board Fatwa and resolutions
• Conducting operational day to day Shari'a audit
• Prepare periodic Shari'a review reports and present it to Head of Shari'a.
• Coordinating with Head of Shari’a to arrange for Shari'a Board meetings.

• Designing and implementing career development programs for Directorate's employees.
• Preparing monthly and annual reports of department projects.
• Writing research especially in Waqf development and Islamic instruments which can be utilized in deploying the Waqf funds.