With the existence of more than 1.6 billion Muslims making up a $ 4 trillion worth Islamic economy, and with millions of them existing in the Kingdom of Saudi Arabia, we have been keen to provide products and services accessible to everyone while being compatible with the provisions of Islamic Sharia and the values of the society.
Abdul Latif Jameel United Real Estate Financing Company believes in Islamic principles and that they are beneficial to all of our clients. We can only achieve such a value if our business and services are compliant with the principles of Islamic Sharia and ethical rules. These Islamic principles continue to guide our transactions with others for 70 years. We are proud with our reliance on the highest ethical standards of Sharia law while adopting the best practices and achieving excellence in the field of serving our clientele.
In order to ensure that the company’s governance reach the highest standards, an independent Sharia Panel has been formed consisting of scholars and experts in Islamic law, law, economics, accounting, auditing and financial services under the leadership of the honorable sheikhs Dr. Abdullah Al-Musleh, Dr. Muhammad Al-Qarri and Dr. Abdullah Al-Thomali, all of whom are scholars in Islamic finance legislation to conduct thorough reviews of all contracts and procedures to ensure their compliance with the provisions of the Islamic Sharia, given that the panel has issued its first decision approving the contract and its attachments.
The Sharia panel is also responsible for overseeing the development of the new and innovative financing products. Moreover, the Sharia panel is empowered to issue fatwas and Sharia guidelines regarding routine matters as required by our various business units.
Our Sharia compliant products and services that are compatible with the provisions of Islamic Sharia, ensure that