In line with its commitment to developing Shariah-compliant financial products and services, AMAN Holding, a Raya Holding portfolio company and the most integrated fintech group in Egypt, has announced the formation of a new Sharia Supervisory committee. The committee will review and certify AMAN’s Islamic finance products, policies, and operational procedures, in accordance with the directives of the Financial Regulation Authority (FRA).
The committee is chaired by Dr. Mohamed El-Beltagy, a leading expert in Islamic banking and currently the Chairman of Board of Directors of the Egyptian Islamic Finance Association. Dr. Mohamed Abdelkader serves as the Committee Secretary, while its members include Dr. Magdy Ashour and Dr. Mostafa Ibrahim. As part of enhancing the Islamic finance system within the group, AMAN for Project Finance has designated 19 branches across 19 governorates exclusively for Islamic transactions. Additionally, each AMAN Holding branch now features a dedicated counter for Islamic finance products, including Mudarabah, Murabaha, and Wakalah Bil-Istithmar services.
In this context, Eng. Hazem Moghazi, Co-CEO of Business and Commercial Affairs at AMAN Holding, stated: “The establishment of the new Shariah supervisory Committee reflects AMAN Holding’s deep commitment to offering fully Shariah-compliant financing solutions. This step strengthens client trust, supports our expansion in Islamic finance, and enables us to deliver comprehensive, innovative packages that meet diverse market needs. To complement this, we are currently working on issuing new Sukuk worth EGP 5 billion for Aman Consumer Finance, alongside other Sukuk packages in cooperation with the new committee”.
Dr. Mohamed El-Beltagy, Chairman of AMAN Holding’s Shariah Supervisory Committee, added: “Our core mission is to ensure all AMAN Holding products are fully Shariah-compliant, emphasizing quality and transparency in every transaction. We aim to provide flexible financing solutions for corporate and individual clients, thereby enhancing market confidence in all of AMAN Holding’s non-banking financial solutions. Ultimately, our goal is to enable safe, innovative investment and finance access while adhering to the highest standards of governance and Shariah compliance.”
It is worth noting that Sukuk worth EGP 3 billion were previously issued for AMAN for Project Finance through the former Shariah committee. This demonstrates the company’s commitment to governance and transparency in managing Sukuk and projects, while supporting the growth of various clients and ventures in a reliable and secure manner.
more information, please visit AMAN Holding’s official website: https://aman.eg/en/home/
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