Palestine Islamic Bank Honors prof. Hussam El-Din Afaneh for his Efforts to Spread Islamic Banking in Palestine

Palestine Islamic Bank honored prof. Hussam El-Din Afaneh, in the presence of the Chairman of the Board of Directors Maher Al-Masri, the Chairman of the Shari'a Supervisory Board, Dr. Ali Al-Sartawi and Board members, Acting General Manager Imad Al-Saadi, the Executive Management and the Bank’s senior managers for his efforts to lay the foundations and rules for Islamic banking within the Bank and throughout Palestine.

This tribute took place as a celebration of his long years of work at the Bank, which has unfortunately ended, in response to the rules and best practices of banking governance and the requirements of the Palestinian Monetary Authority regarding the periodic replacement of members of the Shari'a Supervisory Board.

PIB Chairman of the Board of Directors Maher Al-Masri said that this tribute is a recognition of the important contributions made by prof. Hussam El-Din Afaneh with regards to his Shari'a fatwas pertaining to the Bank, in addition to his efforts in spreading Islamic banking and educating the Palestinian community about its concepts based on his scientific, jurisprudential and wide Shari'a experience; stressing that he will remain in his prestigious position guiding the Palestinian society and its institutions, especially Palestine Islamic Bank.

Al-Masri praised the role played by the Shari'a Supervisory Board in developing the Bank’s financing and investment programs and products, controlling them and ensuring their compliance with the provisions of Islamic Shari'a.

For his part, prof. Afaneh thanked the PIB family for this tribute, praising the full compliance of all administrative ranks in the Bank to everything issued by the Shari'a Supervisory Board to ensure the provision of banking services and products that comply with the provisions of Islamic Shari'a.

It is to be noted that prof. Afaneh was a member of PIB’s Shari'a Supervisory Board for a period of 11 years. He holds a PhD in the Fundamentals of Islamic Jurisprudence from the Faculty of Shari'a at Umm Al-Qura University in Saudi Arabia, and is considered one of the prominent scholars in the field of jurisprudence, especially the jurisprudence of financial transactions. He has also been working and writing in this field since 1994, and has more than seventy books and research papers to his name.

PIB’s Shari'a Supervisory Board is composed of prominent scholars who have experience and deep jurisprudence and Shari'a knowledge; they are elected by the Bank’s General Assembly whereas their decisions are binding to the Bank, at all levels.