Board of Directors

Alinma Islamic Microfinance Bank is fully committed to complying with all laws, circulars, regulations, and directives issued by regulatory authorities in the Republic of Yemen, including the Central Bank of Yemen, as well as all relevant international laws and regulations concerning Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT), such as those set forth by the Financial Action Task Force (FATF) and the Basel Committee recommendations. These commitments are reflected in the bank’s core values, professional practices, and its dealings with clients and entities across all activities and operations.

The primary goal of the Compliance Unit at Alinma Islamic Microfinance Bank is to safeguard the bank’s reputation and credibility, protect the interests of shareholders and depositors, and prevent any sanctions or violations. The Compliance Department seeks to foster a culture of adherence across all banking operations, protecting the bank from the risks of non-compliance by providing guidance, monitoring, and oversight. Furthermore, the department works to build customer and shareholder confidence by enhancing integrity, maintaining the bank’s good reputation, ensuring the highest levels of security and protection, and preventing any regulatory breaches.

To ensure effective compliance with AML/CFT regulations, the bank has implemented the latest banking systems to screen individuals, entities, and organizations listed on local and international sanctions and watchlists, ensuring no form of engagement with them. Additionally, the bank monitors customer transactions—both routine and suspicious—and promptly reports any suspicious activity to the relevant authorities in accordance with its approved reporting policies and procedures.

The Sharia Supervisory Board at Alinma Islamic Microfinance Bank is an independent advisory body composed of a group of scholars in Islamic jurisprudence, as well as experts in financial transactions and contemporary Islamic economics. It is responsible for issuing Sharia rulings (fatwas), providing recommendations, and supervising the bank’s activities to ensure compliance with the principles and provisions of Islamic Sharia.

The Board’s duties include supervising the development of Islamic financial products, auditing contracts and policies, and issuing Sharia opinions and recommendations. Through its ongoing work, the Board contributes to developing innovative solutions that meet customer needs while adhering to Sharia principles. This supervisory function serves as a fundamental assurance to customers that their funds are managed in accordance with the values of justice and integrity that lie at the heart of Islamic law.

In line with government requirements and the directives of the Central Bank of Yemen regarding governance rules in banks and international regulatory standards—including the Basel Committee on Banking Supervision’s paper on the Principles of Sound Corporate Governance for banks—Alinma Islamic Microfinance Bank has adopted updated internal policies and procedures aimed at enhancing effective management and promoting a culture of governance within the bank.

The bank continues to strengthen its policies and procedures to achieve full compliance with applicable directives and standards, with the goal of protecting the interests of the bank, its shareholders, clients, creditors, employees, and all stakeholders. Necessary actions are taken, and internal systems and policies are updated in accordance with the requirements of the Central Bank of Yemen, with a strong emphasis on applying transparency principles and full disclosure of all vital information related to the bank’s activities, in line with the directives issued by the relevant regulatory authorities.