{"id":22085157,"date":"2024-09-23T09:38:30","date_gmt":"2024-09-23T06:38:30","guid":{"rendered":"https:\/\/fra.gov.eg\/%d9%82%d8%b1%d8%a7%d8%b1%d8%a7%d8%aa-%d9%84%d8%ac%d9%86%d8%a9-%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d9%87-%d8%a7%d9%84%d8%b4%d8%b1%d8%b9%d9%8a%d8%a9-%d8%a7%d9%84%d9%85%d8%b1%d9%83%d8%b2%d9%8a%d8%a9\/"},"modified":"2026-04-09T10:57:18","modified_gmt":"2026-04-09T08:57:18","slug":"%d9%82%d8%b1%d8%a7%d8%b1%d8%a7%d8%aa-%d9%84%d8%ac%d9%86%d8%a9-%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d9%87-%d8%a7%d9%84%d8%b4%d8%b1%d8%b9%d9%8a%d8%a9-%d8%a7%d9%84%d9%85%d8%b1%d9%83%d8%b2%d9%8a%d8%a9","status":"publish","type":"page","link":"https:\/\/fra.gov.eg\/en\/%d9%82%d8%b1%d8%a7%d8%b1%d8%a7%d8%aa-%d9%84%d8%ac%d9%86%d8%a9-%d8%a7%d9%84%d8%b1%d9%82%d8%a7%d8%a8%d9%87-%d8%a7%d9%84%d8%b4%d8%b1%d8%b9%d9%8a%d8%a9-%d8%a7%d9%84%d9%85%d8%b1%d9%83%d8%b2%d9%8a%d8%a9\/","title":{"rendered":"Central Sharia Supervisory Committee"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"22085157\" class=\"elementor elementor-22085157 elementor-13862307\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5870c92 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5870c92\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-55691c0\" data-id=\"55691c0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4e5760f elementor-widget elementor-widget-text-editor\" data-id=\"4e5760f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p style=\"text-align: justify;\">Board Decree No. 42 of 2019 was issued by the FRA to establish the rules governing the formation and membership requirements of Sharia Supervisory Committees for Sharia-compliant sukuk issuances. This Decree was issued considering the enactment of Sukuk Law No. 17 of 2018 and its Executive Regulations, and pursuant to Law No. 10 of 2009 regulating the supervision of non-bank financial markets and instruments.<\/p><p style=\"text-align: justify;\">In response to the increasing demand from companies operating in non-bank financial activities for Sharia-compliant products and contracts and following the growing success of Islamic finance in meeting investors\u2019 needs, Board Decree No. 177 of 2022 was issued to amend the aforementioned Decree so that it covers both sukuk and other Sharia-compliant non-bank financial products.<\/p><p style=\"text-align: justify;\">The Central Sharia Supervisory Committee is composed of five members, including distinguished scholars in Islamic jurisprudence as well as specialists with extensive experience in legal, financial, and banking fields. A member of the Central Committee may serve as a chair or member of a subordinate Sharia Supervisory Committee; however, such a member must abstain from voting on decisions concerning matters related to the subordinate committee of which they are a member.<\/p><p style=\"text-align: justify;\"><span style=\"color: #800000;\"><strong>The Committee is responsible for the following:<\/strong><\/span><\/p><ul style=\"text-align: justify;\"><li>Approving Sharia-compliant sukuk issuances submitted by issuing entities and providing Sharia oversight over these issuances and the utilization of their proceeds. The committee also reviews the quarterly reports submitted to the FRA by subordinate Sharia Supervisory Committees within institutions operating in non-bank financial activities that approve sukuk issuances compliant with Islamic Sharia, covering the period from issuance until redemption, in accordance with the disclosure rules and standards issued by the FRA.<\/li><li>Approving the issuance of Sharia-compliant non-bank financial products.<\/li><li>Approving the registration of subordinate Sharia Supervisory Committees in the dedicated registry covering all non-bank financial activities.<\/li><li>Supporting the development and advancement of Sharia-compliant instruments and products within the non-bank financial sector.<\/li><\/ul><p style=\"text-align: justify;\"><span style=\"color: #800000;\"><strong>The Central Sharia Supervisory Committee also undertakes the following responsibilities:<\/strong><\/span><\/p><ul><li style=\"text-align: justify;\">Collaborating with the FRA to develop standard templates for contracts and agreements relating to sukuk issuances and other Sharia-compliant financial instruments, contracts, and products, ensuring that they are free from any prohibitions that go against Sharia.<\/li><li style=\"text-align: justify;\">Establishing standards, frameworks, and general Sharia principles governing sukuk issuances and other Sharia-compliant non-bank financial instruments and products.<\/li><li style=\"text-align: justify;\">Providing Sharia opinions and classifications on sukuk issuance applications according to their level of compliance with Islamic Sharia, highlighting potential risks to safeguard the rights of sukuk holders, and submitting such opinions to the FRA\u2019s Board of Directors. The Committee may also present practical recommendations to the issuing entity to correct deficiencies or amend the classification where possible.<\/li><li style=\"text-align: justify;\">Providing Sharia opinions and classifications on requests and reports periodically submitted by the FRA or subordinate Sharia Supervisory Committees.<\/li><li style=\"text-align: justify;\">Offering advisory opinions on periodic reports submitted by subordinate Sharia Supervisory Committees within non-bank financial institutions, to verify the continued compliance of sukuk issuances with Islamic Sharia principles from the date of issuance until redemption, in accordance with Sharia rules and the disclosure standards issued by the FRA.<\/li><li style=\"text-align: justify;\">Examining Sharia-related issues that may arise during the lifecycle of sukuk issuances, as well as issues related to Sharia-compliant non-bank financial products (where applicable), and proposing appropriate solutions.<\/li><li style=\"text-align: justify;\">Reviewing inquiries submitted by subordinate Sharia Supervisory Committees within non-bank financial institutions and issuing \u201cFatwas\u201d (Sharia rulings) regarding the listing, trading, or redemption of sukuk issuances, as well as matters relating to Sharia-compliant non-bank financial products or other issues requiring Sharia guidance.<\/li><li style=\"text-align: justify;\">Assisting the FRA in developing training programs for members of subordinate Sharia Supervisory Committees and relevant professionals within non-bank financial institutions to enhance their understanding of Islamic financing structures and the jurisprudential and Sharia aspects related to sukuk issuances and Sharia-compliant financial products.<\/li><li style=\"text-align: justify;\">Establishing governance rules and operational guidelines for subordinate Sharia Supervisory Committees.<\/li><li style=\"text-align: justify;\">Developing a database covering Sharia-compliant non-bank financial activities in Egypt and other Islamic countries, including a compilation of relevant fatwas and references.<\/li><li style=\"text-align: justify;\">Undertaking necessary measures to coordinate with central Sharia supervisory committees in Islamic countries.<\/li><li style=\"text-align: justify;\">Submitting an annual report to the FRA\u2019s Board of Directors on the Sharia compliance of sukuk issuances and Sharia-compliant non-bank financial products currently in the market. This report is prepared based on comprehensive studies and the periodic reports submitted by approved subordinate Sharia Supervisory Committees. It also outlines the Committee\u2019s efforts to promote and develop Sharia-compliant non-bank financial products.<\/li><li style=\"text-align: justify;\">Issuing internal regulations governing its operations and meeting procedures.<\/li><\/ul>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2824119 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2824119\" data-element_type=\"section\" data-settings=\"{&quot;_ha_eqh_enable&quot;:false}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9017150\" data-id=\"9017150\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4be96c4 elementor-tabs-view-horizontal elementor-widget elementor-widget-tabs\" data-id=\"4be96c4\" data-element_type=\"widget\" data-widget_type=\"tabs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-tabs\">\n\t\t\t<div class=\"elementor-tabs-wrapper\" role=\"tablist\" >\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-7951\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-7951\" aria-expanded=\"false\">Mandates and Composition of the Central Sharia Supervisory Committee<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-7952\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-7952\" aria-expanded=\"false\">Decisions of the Central Sharia Supervisory Committee<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-7953\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-7953\" aria-expanded=\"false\">Fatwas and Sharia Rulings<\/div>\n\t\t\t\t\t\t\t\t\t<div id=\"elementor-tab-title-7954\" class=\"elementor-tab-title elementor-tab-desktop-title\" aria-selected=\"false\" data-tab=\"4\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-7954\" aria-expanded=\"false\">Registration \/ Renewal Forms<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<div class=\"elementor-tabs-content-wrapper\" role=\"tablist\" aria-orientation=\"vertical\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"true\" data-tab=\"1\" role=\"tab\" tabindex=\"0\" aria-controls=\"elementor-tab-content-7951\" aria-expanded=\"false\">Mandates and Composition of the Central Sharia Supervisory Committee<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-7951\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-7951\" tabindex=\"0\" hidden=\"false\"><ul><li style=\"text-align: left;\"><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/42-2019-1.pdf\">FRA Board Decree No. 42 of 2019 Concerning the mandates and formation of the Central Sharia Supervisory Committee.<\/a><\/li><li style=\"text-align: left;\"><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/\u0642\u0631\u0627\u0631\u062a\u0634\u0643\u064a\u0644-\u0644\u062c\u0646\u0647-\u0627\u0644\u0631\u0642\u0627\u0628\u0647-\u0627\u0644\u0634\u0631\u0639\u064a\u06472019-2022.pdf\">Decree No. 62 of 2019 Establishing the Central Sharia Supervisory Committee.<\/a><\/li><li style=\"text-align: left;\"><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/\u0642\u0631\u0627\u0631-\u0631\u0626\u064a\u0633-\u0627\u0644\u0647\u064a\u0626\u0629-\u0631\u0642\u0645-755-\u0644\u0633\u0646\u0629-2019-\u0628\u062a\u0634\u0643\u064a\u0644-\u0627\u0644\u0627\u0645\u0627\u0646-\u0629-\u0627\u0644\u0641\u0646\u064a\u0629-\u0644\u0644\u062c\u0646\u0629-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-....pdf\">FRA Chairman Decree No. 755 of 2019.<\/a><\/li><li style=\"text-align: left;\"><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/177-\u0642\u0631\u0627\u0631-\u0645\u062c\u0644\u0633-\u0625\u062f\u0627\u0631\u0629-\u0627\u0644\u0647\u064a\u0626\u0629-\u0628\u0625\u0639\u0627\u062f\u0629-\u062a\u0634\u0643\u064a\u0644-\u0644\u062c\u0646\u0629-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-\u0627\u0644\u0634\u0631\u0639\u064a\u0629-\u0627\u0644\u0645\u0631\u0643\u0632\u064a\u0629.pdf\">FRA Board Decree No. 177 of 2022 Reconstituting the Central Sharia Supervisory Committee.<\/a><\/li><li style=\"text-align: left;\"><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/176-\u0636\u0648\u0627\u0628\u0637-\u062a\u0634\u0643\u064a\u0644-\u0648\u0627\u0634\u062a\u0631\u0627\u0637\u0627\u062a-\u0639\u0636\u0648\u064a\u0629-\u0644\u062c\u0627\u0646-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-\u0627\u0644\u0634\u0631\u0639\u064a\u0629-\u0644\u0625\u0635\u062f\u0627\u0631\u0627\u062a-\u0627\u0644\u0635\u0643\u0648\u0643-\u0627\u0644\u0645\u062a\u0648\u0627\u0641\u0642\u0629-\u0645\u0639-\u0623\u062d\u0643\u0627\u0645-\u0627\u0644\u0634\u0631\u064a\u0639\u0629-\u0627\u0644\u0625\u0633\u0644\u0627\u0645\u064a\u0629.pdf\">FRA Board Decree No. 176 of 2022.<\/a><\/li><li style=\"text-align: left;\"><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/\u0642\u0631\u0627\u0631-\u0631\u0642\u0645-175-\u0644\u0633\u0646\u0629-2023-\u0628\u062a\u0634\u0643\u064a\u0644-\u0627\u0644\u0627\u0645\u0627\u0646\u0629-\u0627\u0644\u0641\u0646\u064a\u0629-\u0644\u0644\u062c\u0646\u0629-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-\u0627\u0644\u0634\u0631\u0639\u064a\u0629.pdf\">FRA Chairman Decree No. 175 of 2023 Establishing the Technical Secretariat of the Central Sharia Supervisory Committee.<\/a><\/li><li style=\"text-align: left;\"><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/01\/\u0627\u0644\u0642\u0631\u0627\u0631-\u0631\u0642\u0645-51-\u0644\u0633\u0646\u0629-2025-\u0628\u062a\u0639\u062f\u064a\u0644-\u0642\u0631\u0627\u0631-\u0645\u062c\u0644\u0633-\u0625\u062f\u0627\u0631\u0629-\u0627\u0644\u0647\u064a\u0626\u0629-\u0631\u0642\u0645-62-\u0644\u0633\u0646\u0629-2019.pdf\">FRA Board Decree No. 51 of 2025 Amending the composition of the Committee to consist of seven members instead of five.<\/a><\/li><li style=\"text-align: left;\"><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/01\/310-2025-\u0628\u0634\u0623\u0646-\u062a\u0634\u0643\u064a\u0644-\u0644\u062c\u0646\u0629-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-\u0627\u0644\u0634\u0631\u0639\u064a\u0629-\u0627\u0644\u0645\u0631\u0643\u0632\u064a\u0629-\u0644\u0627\u0635\u062f\u0627\u0631-\u0627\u0644\u0635\u0643\u0648\u0643-\u0648\u0627\u0644\u0645\u0646\u062a\u062c\u0627\u062a-\u0627\u0644\u0645\u0627\u0644\u064a\u0629.pdf\">FRA Board Decree No. 310 of 2025 Reconstituting the Committee.<\/a><\/li><li style=\"text-align: left;\"><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/01\/2981-2025-\u0642\u0631\u0627\u0631-\u0631\u0626\u064a\u0633-\u0627\u0644\u0647\u064a\u0626\u0629-\u0628\u0634\u062a\u0643\u064a\u0644-\u0627\u0644\u0627\u0645\u0627\u0646\u0629\u0627\u0644\u0641\u0646\u064a\u0629-\u0644\u0644\u062c\u0646\u0629-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-\u0627\u0644\u0634\u0631\u0639\u064a\u0629.pdf\">FRA Board Decree No. 2981 of 2025 Reconstituting the Technical Secretariat of the Committee.<\/a><\/li><\/ul><p>\u00a0<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"2\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-7952\" aria-expanded=\"false\">Decisions of the Central Sharia Supervisory Committee<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-7952\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-7952\" tabindex=\"0\" hidden=\"hidden\"><ul><li>Decision No. 40 \u2013 dated 6 February 2025<\/li><li>Final approval for the first issuance of Sharia-compliant participation sukuk valued at EGP 2.8 billion, issued by Al Ahly for Securitization Company.<\/li><li>Decision No. 39 \u2013 dated 19 December 2024<\/li><li>Approval of the registration of Dr. Salem Ali in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 38 \u2013 dated 19 December 2024<\/li><li>Approval of the registration of Dr. Mohamed Akram in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 37 \u2013 dated 19 December 2024<\/li><li>Approval for the registration of Dr. Ahmed Refai in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 36 \u2013 dated 19 December 2024<\/li><li>Preliminary approval for the issuance of participation sukuk by Al Ahly for Securitization for the benefit of Bab Misr Urban Development.<\/li><li>Decision No. 35 \u2013 dated 19 December 2024<\/li><li>Approval of the fourth issuance of the Azimut Fixed Income Fund (multi-issuance) for public subscription following review by the Committee\u2019s Secretariat of comparable funds.<\/li><li>Decision No. 34 \u2013 dated 21 November 2024<\/li><li>Approval of the Investment Agency Agreement, after fulfilling the Committee\u2019s requirements, as well as the Murabaha contract based on the model contract submitted by Erada Microfinance Company.<\/li><li>Decision No. 33 \u2013 dated 31 October 2024<\/li><li>Approval of the Ijarah Muntahia Bittamleek (lease-to-own) contract submitted by Al Ahli United Finance Company.<\/li><li>Decision No. 32 \u2013 dated 31 October 2024<\/li><li>Rejection of the appointment of Dr. Mohamed El-Beltagy as a board member of Bedayti Microfinance Company, in light of his role as Chairman of the company\u2019s Sharia Supervisory Committee.<\/li><li>Decision No. 31 \u2013 dated 31 October 2024<\/li><li>Preliminary approval for Al Ahly for Securitization to issue participation sukuk under a program linked to Sustainable Development Goals (SDGs).<\/li><li>Decision No. 30 \u2013 dated 26 September 2024<\/li><li>Renewal of registration for Dr. Magdy Ashour in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 29 \u2013 dated 26 September 2024<\/li><li>Regarding the takaful insurance policy of Allianz Life Insurance Company, the Committee recommended that the company establish a Subordinate Sharia Supervisory Committee to review and approve the investment portfolio in accordance with Islamic Sharia principles before resubmitting it to the Committee.<\/li><li>Decision No. 28 \u2013 dated 8 August 2024<\/li><li>Preliminary approval of the proposed sukuk structure submitted by Alkan for Securitization for the issuance of Mudarabah sukuk, subject to the inclusion of a clause stipulating that sukuk may not be redeemed in whole or in part except upon the request or approval of the Sukuk Holders\u2019 Assembly, and that redemption shall be at market value.<\/li><li>Decision No. 27 \u2013 dated 8 August 2024<\/li><li>Approval of the first Precious Metals Sukuk Program for Rawasi for Securitization, valued at EGP 10 billion, for the issuance of Sharia-compliant sukuk in multiple tranches, un-rated, tradable, non-convertible into shares, offered through private placement, and listed on The Egyptian Exchange.<\/li><li>Decision No. 26 \u2013 dated 8 August 2024<\/li><li>Approval of the first investment agency sukuk program for Rawasi for Securitization, valued at EGP 20 billion, to issue Sharia-compliant sukuk in multiple tranches, un-rated, tradable, non-convertible into shares, offered via private placement and listed on The Egyptian Exchange.<\/li><li>Decision No. 25 \u2013 dated 8 August 2024<\/li><li>Approval of the first Mudarabah sukuk program for Rawasi for Securitization, valued at EGP 10 billion, for the benefit of Aman Microfinance Company, tradable and non-convertible into shares, offered through private placement and listed on The Egyptian Exchange.<\/li><li>Decision No. 24 \u2013 dated 28 March 2024<\/li><li>Approval of the Murabaha contract submitted by Maksab Microfinance Company.<\/li><li>Decision No. 23 \u2013 dated 28 March 2024<\/li><li>Approval of the Murabaha contract submitted by Tasaheel Microfinance Company.<\/li><li>Decision No. 22 \u2013 dated 28 March 2024<\/li><li>Approval of the Murabaha contract submitted by B.TECH Consumer Finance Company.<\/li><li>Decision No. 21 \u2013 dated 28 March 2024<\/li><li>Renewal of registration for Dr. Mohamed Wissam in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 20 \u2013 dated 28 March 2024<\/li><li>Renewal of registration for Dr. Abdel Salam Lasheen in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 19 \u2013 dated 28 March 2024<\/li><li>Preliminary approval for the issuance of Mudarabah sukuk by Tharwa for Securitization, tradable and non-convertible into shares.<\/li><li>Decision No. 18 \u2013 dated 4 January 2024<\/li><li>Approval of the Central Sharia Supervisory Committee\u2019s achievements for 2023 and submission to the Chairman of the Authority.<\/li><li>Decision No. 17 \u2013 dated 4 January 2024<\/li><li>Approval of the proposal to establish a Professional Diploma in Islamic Finance in cooperation with the Financial Services Institute affiliated with the Authority.<\/li><li>Decision No. 16 \u2013 dated 14 January 2024<\/li><li>Approval of the registration of Dr. Atta Abdel Ati in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 15 \u2013 dated 14 January 2024<\/li><li>Approval of the registration of Dr. Abdel Aziz Khalifa in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 14 \u2013 dated 4 January 2024<\/li><li>Approval of the registration of Dr. Ali Ibrahim in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 13 \u2013 dated 4 January 2024<\/li><li>Preliminary approval for the issuance of Ijarah sukuk by Asplit for Securitization, tradable and non-convertible into shares.<\/li><li>Decision No. 12 \u2013 dated 4 January 2024<\/li><li>Preliminary approval for the issuance of participation sukuk by Asplit for Securitization, structured as asset-backed sukuk, tradable, unrated, and non-convertible into shares.<\/li><li>Decision No. 11 \u2013 dated 7 December 2023<\/li><li>Renewal of registration for Dr. Ihab Mohamed Ahmed in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 10 \u2013 dated 7 December 2023<\/li><li>Approval of the Murabaha contract submitted by Aman Consumer Finance.<\/li><li>Decision No. 9 \u2013 dated 16 November 2023<\/li><li>Renewal of registration for Dr. Khaled El-Gendy in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 8 \u2013 dated 16 November 2023<\/li><li>Renewal of registration for Dr. Saad El-Din El-Hilali in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 7 \u2013 dated 16 November 2023<\/li><li>Renewal of registration for Dr. Mohamed El-Beltagy in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 6 \u2013 dated 31 August 2023<\/li><li>Approval of the Diminishing Partnership contract and Murabaha purchase order contract for Abu Dhabi Microfinance Company.<\/li><li>Decision No. 5 \u2013 dated 13 July 2023<\/li><li>Notification to members registered in the Sharia Supervisory Committees Registry whose registration had expired to complete renewal procedures within six months.<\/li><li>Decision No. 4 \u2013 dated 16 March 2023<\/li><li>Preliminary approval for EFG for Securitization to issue sukuk for investment in new financing portfolios, in compliance with Sharia requirements, while rejecting their use to finance existing consumer finance portfolios (in accordance with Sharia Standard No. 17 \u2013 Investment Sukuk, which prohibits securitization of debt).<\/li><li>Decision No. 3 \u2013 dated 16 March 2023<\/li><li>Approval of the Azimut Precious Metals Fund (multi-issuance) \u2013 Gold Fund, as a Sharia-compliant investment fund.<\/li><li>Decision No. 2 \u2013 dated 16 March 2023<\/li><li>Renewal of registration for Dr. Othman Ahmed Othman in the register of Subordinate Sharia Supervisory Committees.<\/li><li>Decision No. 1 \u2013 dated 26 February 2023<\/li><li>Registration of Dr. Ahmed Mamdouh in the register of Subordinate Sharia Supervisory Committees.<\/li><\/ul><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"3\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-7953\" aria-expanded=\"false\">Fatwas and Sharia Rulings<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-7953\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-7953\" tabindex=\"0\" hidden=\"hidden\"><ul><li><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/\u0641\u062a\u0648\u064a-\u0644\u062c\u0646\u0629-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-\u0627\u0644\u0634\u0631\u0639\u064a\u0629-\u0644\u0627\u0635\u062f\u0627\u0631\u0627\u062a-\u0627\u0644\u0635\u0643\u0648\u0643-\u0631\u0642\u0645-1-\u0628\u0634\u0623\u0646-\u0627\u0635\u062f\u0627\u0631-\u0627\u0644\u062c\u0647\u0629-\u0627\u0644\u0645\u0633\u062a....pdf\">\u00a0Issuance of sukuk directly by the beneficiary entity \u2013 21 August 2019<\/a><\/li><li><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/\u0641\u062a\u0648\u064a-\u0644\u062c\u0646\u0629-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-\u0627\u0644\u0634\u0631\u0639\u064a\u0629-\u0644\u0627\u0635\u062f\u0627\u0631\u0627\u062a-\u0627\u0644\u0635\u0643\u0648\u0643-\u0631\u0642\u0645-2-\u0628\u0634\u0623\u0646-\u0625\u0635\u062f\u0627\u0631-\u0635\u0643\u0648\u0643-\u0644\u0644\u0634\u0631\u0643\u0627....pdf\">\u00a0Issuance of sukuk for distressed companies \u2013 21 August 2019<\/a><\/li><li><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/\u0641\u062a\u0648\u064a-\u0644\u062c\u0646\u0629-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-\u0627\u0644\u0634\u0631\u0639\u064a\u0629-\u0644\u0627\u0635\u062f\u0627\u0631\u0627\u062a-\u0627\u0644\u0635\u0643\u0648\u0643-\u0631\u0642\u0645-3-\u0628\u0634\u0623\u0646-\u0625\u0644\u0627\u0633\u062a\u0631\u062f\u0627\u062f-\u0627\u0644\u0645\u0628\u0643\u0631-....pdf\">\u00a0Early redemption of sukuk \u2013 26 September 2019<\/a><\/li><li><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/\u0641\u062a\u0648\u064a-\u0644\u062c\u0646\u0629-\u0627\u0644\u0631\u0642\u0627\u0628\u0629-\u0627\u0644\u0634\u0631\u0639\u064a\u0629-\u0644\u0627\u0635\u062f\u0627\u0631\u0627\u062a-\u0627\u0644\u0635\u0643\u0648\u0643-\u0631\u0642\u0645-4-\u0628\u0634\u0623\u0646-\u0625\u0637\u0641\u0627\u0621-\u0627\u0644\u0635\u0643\u0648\u0643-\u0628\u0627\u0644\u0642....pdf\">\u00a0Redemption of sukuk at market value \u2013 26 September 2019<\/a><\/li><\/ul><p>\u00a0<\/p><\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-tab-title elementor-tab-mobile-title\" aria-selected=\"false\" data-tab=\"4\" role=\"tab\" tabindex=\"-1\" aria-controls=\"elementor-tab-content-7954\" aria-expanded=\"false\">Registration \/ Renewal Forms<\/div>\n\t\t\t\t\t<div id=\"elementor-tab-content-7954\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"tabpanel\" aria-labelledby=\"elementor-tab-title-7954\" tabindex=\"0\" hidden=\"hidden\"><ul><li><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/02\/\u0627\u0644\u0645\u0633\u062a\u0646\u062f\u0627\u062a.pdf\">Required Documents<\/a><\/li><li><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/02\/\u0625\u0642\u0631\u0627\u0631.pdf\">Declaration Form<\/a><\/li><li><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2026\/02\/\u0646\u0645\u0648\u0630\u062c-\u0637\u0644\u0628-\u0642\u064a\u062f.pdf\">Registration Application Form<\/a><\/li><li><a href=\"https:\/\/fra.gov.eg\/wp-content\/uploads\/2024\/10\/\u0646\u0645\u0648\u0630\u062c-\u062a\u062c\u062f\u064a\u062f.pdf\">Renewal Application Form<\/a><\/li><\/ul><p>\u00a0<\/p><\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<div class=\"tmnf_excerpt\"><p>Board Decree No. 42 of 2019 was issued by the FRA to establish the rules governing the formation and membership requirements of Sharia Supervisory Committees for Sharia-compliant sukuk issuances. This Decree was issued considering the enactment of Sukuk Law No. 17 of 2018 and its Executive Regulations, and pursuant to Law No. 10 of 2009 &hellip;<\/p>\n<\/div>","protected":false},"author":60,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/pages\/22085157"}],"collection":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/comments?post=22085157"}],"version-history":[{"count":40,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/pages\/22085157\/revisions"}],"predecessor-version":[{"id":22122697,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/pages\/22085157\/revisions\/22122697"}],"wp:attachment":[{"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/media?parent=22085157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/categories?post=22085157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fra.gov.eg\/en\/wp-json\/wp\/v2\/tags?post=22085157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}