Islamic financial institutions have an extra layer of supervision in the form of religious boards that not only meet the needs of Muslim clients but help support best practices of corporate governance. The additional security provided by Shari’ah-compliant products is becoming increasingly attractive in all spheres. The Barclays Shari’ah Advisory Committee ensures that the day-to-day running of the bank conforms to the Shari’ah, including any proposals for new types of transaction. Barclays provides assistance in the development and innovation of Shari’ah-compliant financial products, objectives, criteria and strategies. The BV judging panel commends the bank’s thoroughness and thoughtfulness in this complex area and confers on Barclays the Best Shari’ah-Compliant Investment Bank Award.
