Shariah Board
هيئة شرعية
Pronunciation: HAY-ah SHAH-ree-ah
A committee of qualified Islamic scholars that certifies the Shariah compliance of financial products.
Definition
A committee of qualified Islamic scholars that oversees and certifies the Shariah compliance of financial products and institutions. They review contracts, approve product structures, conduct audits, and provide ongoing supervision. A robust Shariah board is considered essential for institutional credibility. AAOIFI recommends a minimum of three scholars per board.
HalalWallet labels providers with 'Formal Board' when they disclose an active Shariah supervisory board. Major U.S. halal finance providers like Guidance Residential and Azzad Asset Management maintain formal Shariah boards with named, credentialed scholars.
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Shariah Board (هيئة شرعية) — A committee of qualified Islamic scholars that certifies the Shariah compliance of financial products. A committee of qualified Islamic scholars that oversees and certifies the Shariah compliance of financial products and institutions. They review contracts, approve product structures, conduct audits, and provide ongoing supervision.
- A committee of qualified Islamic scholars that certifies the Shariah compliance of financial products.
- Category: Governance
- Related: Fatwa, AAOIFI, Shariah
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Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-03-06
Editorial Team, HalalWallet
Independent halal finance research · A member of Niya
Reviewed quarterly and updated for major content changes.