Shariah Board | Summit Bank

Shariah Board

The Shariah Board of Summit Bank Limited consists of the following eminent Shariah scholars:

Mufti Irshad Ahmad Aijaz – Chairman Shariah Board

Mufti Irshad Ahmad Aijaz graduated from Jamiat-ul-Uloom Islamiyyah, Binnori Town, Karachi and obtained his Shahadat-ul-Aalamia (Masters in Arabic and Islamic Studies) from there as well. Following that, he completed his Takhassus fi al-Iftaa (Specialization in Islamic Jurisprudence and Fatwa) from Jamia Dar-ul-Uloom, Karachi. He has passed an Islamic economics course called “Contemporary Business and Banking and its Critical Evaluation in the Light of Shariah” from the Centre for Islamic Economics, Jamia Dar-ul-Uloom, Karachi. Moreover, he also completed his MBA program from Iqra University, Karachi.

He currently holds certain advisory positions at a number of institutions, including:

  • Member, AAOIFI Shariah Standard Committee – Karachi
  • Shariah Advisor of Fortune Islamic Financial Services
  • Shariah Advisor of Allied Rental Modaraba, Member
  • Shariah Committee of Barakah Group – Australia
  • Member, Shariah Board of Standard Chartered Bank (Pakistan) Limited
  • Consultant, Shariah Review Bureau – Bahrain
  • Honorary Chairman, Shariah Supervisory Board of Wasil Foundation (micro finance)

He regularly delivers lectures on Islamic Economics and Finance at different forums and educational institutions, including the National Institute of Banking and Finance (State Bank of Pakistan) and Centre of Islamic Economics (a division of Jamia Dar-ul-Uloom, Karachi).

Prof. Dr. Noor Ahmed Shahtaaz – Member Shariah Board

Dr. Noor Ahmed Shahtaz holds a Shahadah Al- Alamia from Tanzem ul Madaris Lahore. M.A (Islamic Studies), M.A (Arabic), LL.B from University of Karachi. He has done Ph.D. in Islamic Studies from Karachi University on the on Hudood (Karachi University).
Dr. Shahtaaz  has 20 years of experience in Darul Ifta and 26 years of teaching experience in different universities, madarsas, institutions, etc. He is also a Shariah Advisor for UBL Funds and Al –Zamin Leasing Ltd. Additionally he is the Advisor of Federal Shariat Court, Islamabad, a member of the Special committee of NCSW to review the Hudood Ordinance, a member of the Ulama’s think -tank to review current Fiqh matters, and a member of the Academic Committee of SZIC University of Karachi.

He is also serves on the Board of Trustees of Al-Suffa Educational trust, in addition to serving as a member of Bait-ul-Hikmah (Hamdard University), Member University Scholars, Forum Scholars Academy for the promotion of Islamic Research, Karachi and Lahore, Co-examiner, Federal Public Service Commission Islamabad.

Mufti Bilal Ahmed Qazi – Member Shariah Board

Bilal Ahmed Qazi has done his Al-Aalamiyyah (a degree recognized by the Higher Education Commission Pakistan as a Masters in Arabic and Islamic Studies) in 2003 from Jamiah-tul-Uloom Ul-Islamiyah, Banori Town. Then he completed his specialization in Islamic Jurisprudence from Jamia Darululoom Karachi. He has written a thesis on Istisna’ one of the modes of Islamic financing. He has completed his MBA from IBA (Institute of Business Administration), Karachi, Pakistan.
He has been working as a member of the Darul Ifta Jamia Darululoom Karachi. He has written over 2000 fatwas on various issues. These fatwas have been reviewed by as accomplished the scholars as Justice Mufti Muhammad Taqi Usmani, Mufti Mahmood Ashraf Usmani, and Mufti Abdur Rauf Sakharwi. He is part of the teaching faculty of CIE, (centre for Islamic Economics, a faculty of Jamia Darululoom Karachi). He was a consultant for day-to-day Shariah affairs at Meezan Bank Ltd (Pakistan) as Shariah scholar from 2006 till 2015. He has been the Shariah Advisor to NAFA Islamic Mutual Funds (Pakistan) as well.

Mufti Muhammad Najeeb Khan – Member Shariah Board

He holds a degree of specialization in Islamic Jurisprudence/Islamic Finance “Takhassus” from Jamia Darul Uloom, Karachi under the supervision of Justice Retd. Mufti Taqi Usmani. He completed “Almia” (equivalent to Masters in Arabic and Islamic Sciences) from Jamia Darul Uloom, Faisalabad. He possess many certifications from courses on different subjects. He is a Shariah Advisory Board member of UBL’s – United Composite Islamic Fund and Pak Oman Islamic Fund. Currently, he is also the Principal of ‘Hira Foundation School’.

Additionally, he has been a member of the Shariah Board of Securities & Exchange Commission of Pakistan, a member of the Task Force for Research and Development in Islamic Bank, State Bank of Pakistan, Member of Provincial Zakat and Ushr Council, Government of Sindh, a member of the Committee on Accounting and Auditing Standards for Interest Free Modes of Financing and Investments (ICAP), trainer and member of the HALAL committee for  Halal standards for the Government of Pakistan (PSQCR).

He is also a Shariah Board member and trainer for the Committee of Pakistan Accreditation Council (PNAC) and a Member of the Shariah Board of the Halal Awareness and Research Council (HARC).

As a trainer he has professional affiliations with the following:

  • IDB
  • IBA
  • LUMS
  • UoK
  • Halal committee of OIC

He is also a member of the Advisory Board for designing Islamic School curriculums in Education – Ummah Relief International – U.S.A, Lecturer – U.M.M.A Centre, Victoria, Australia, Lecturer – Islamic Centre, Monash University, Victoria, Australia, Advisor in Islamic Finance – Various Financial Institutions in Australia, Senior Member of Majlis Ulama – Australia etc.

Syed Zubair Hussain – Resident Shariah Board Member

Syed Zubair Hussain is a blend of both qualifications, religious and contemporary. He has done his Al-Aalamiyyah (a degree recognized by the Higher Education Commission Pakistan as a Masters in Arabic and Islamic Studies) in 2006 from Jamiah Dar ulUloom Karachi. He is a commerce graduate and also earned his MBA in Finance from University of Karachi.He has also completed One year PGD from PAF KIET in Islamic Banking in 2010.

Syed Zubair Hussain has been working in the field of Islamic Banking and Finance since 2010 in various capacities.He has been associated with Summit Bank since 2015 overseeing the Shariah Compliance function of the bank. He is actively involved in all Shariah Compliance matters and critically supervises and guides on all branches, & departments, Shariah compliance queries.

Prior to joining Summit Bank, he has worked at financial institution for three years and engaged in Shariah Compliance and Audit. He has also experience of working at other non-financial industries and businesses.

He has actively involved in delivering Islamic Banking Training for years as well. Currently, he has also been doing his TakhassusfilFiqh.

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Last Updated 2021-07-28

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