Gulf Lifting Financial Leasing, a regional provider of leasing and financial services, has engaged Shariyah Review Bureau from the Kingdom of Saudi Arabia to facilitate the management of Shari’ah compliant certification and practices across its leasing products and portfolio accounts.
“Shari’ah compliant leasing is a simple yet powerful way to connect with our customers while adding efficiency to our offerings,” said Anan Hammodah, CEO for GLFL. “We are proud to be at the forefront of developing innovative Islamic solutions that will cater to our customers faith-based needs while allowing our clients to benefit from the Islamic financial transparency of a wide variety of products.”
“GLFL is one of the largest in the kingdom, serving small and medium enterprises across Saudi Arabia,” said Mohamed Nazimudin, CFO at GLFL. “We continue to work with clients of various sizes and degrees of complexity to solve their ever arising financial needs and requirements. By adopting our solutions, our clients will have the ability to opt for financial leasing framework within the parameters of Shari’ah.”
“Outsourcing or Shari’ah advisory function will help us achieve quality, accuracy, and assurance in our Islamic financial programs. SRB provides services and experiences that exceed local knowledge and this will enable us to build better, successful and meaningful products for our customers’ needs.”
As the Shari’ah adviser, SRB will serve as GLFL’s enterprise programmes in Saudi Arabia. It will work across the company to help deliver a wide range of Shari’ah review services including overseeing investments, financial activities, product structuring, Shari’ah certification and ongoing Shari’ah supervision.
“At SRB, we strive to provide our clients with not only the best services but also the Shari’ah advisory expertise that helps them modulate the right solutions to complement their business and customers objectives in light of Shari’ah,” said Yasser S. Dahlawi, CEO and founder of SRB. “Our Shari’ah advisory model combines expertise including 31 scholars from 18 countries, review systems and certificate verification technology. We have a long history of operating in the kingdom and delivering Shari’ah board services to types of financial and non-financial institutions,” Dahlawi said.