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In exercise of the Regulation on HSSA, it serves as an apex reference point for the Central Bank of Oman on Sharīʻah-related issues. It shall have full independence to play its mandated role and has a responsibility:

  • to give opinion and submit advice to the Central Bank on Sharīʻah issues related to Islamic banking business;
  • to give opinion to the Central Bank on Sharīʻah compliance of the transactions between the Central Bank and licensees; and
  • to issue a binding resolution, on the issues submitted to it through the Central Bank, which are the subject of a Fiqh dispute between SSBs.

The HSSA has been active, providing guidance to the CBO on subjects, which include, among others, proposed deposit takāful scheme, Shari'ah compliant liquidity management tools, ownership-and registration-related issues for ijarah, issues in various modes of finance and ṣukūk issuances from the financial sector, etc.

The HSSA of Central Bank of Oman consists of 5 members. Its Secretariat is hosted within Regulation Directorate of Supervision and Regulation Sector.

The profile of HSSA members is provided below:

Chairman Chairman Image   Shaikh Dr. Kahlan Nabhan al Kharousi
Deputy Chairman Deputy Chairman Image   Shaikh Dr. Abdullatif Mahmoud al Mahmoud
Members Dr. Said Bouheraoua Image   Dr. Said Bouheraoua

Mr. Ahmad Suhaimi Yahya Image  Mr. Ahmad Suhaimi Yahya

Dr. Yaqoob Al Waeli Image  Dr. Yaqoob Al Waeli
Secretariat Secretariat Image  Secretary HSSA, Sulaiman Humaid Al Harthy
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