Introduction:
Tawafoq Islamic banking program focuses on Shariah-compliant products and services. In line with guidelines and policies of Shariah board, it separates Islamic Banking products, services and outlets from the conventional banking services.
Tawafoq as its literal meaning is “compliant with” Shariah principle. This stems from its vision to be a leading Islamic banking services provider, with its mission to provide innovative Islamic financial solutions and its values of integrity, transparency, loyalty, commitment and excellence.
Blessed with the direct support and involvement of the Shariah Board, Islamic Banking at BSF bank will continue to provide Shariah-compliant products and services that meet the expectations of our valued customers.
Tawafoq Products:
Tawafoq form Banque Saudi Fransi provides you with various banking solutions that meet your financial needs in accordance with the Islamic Shariah principles .It offers a comprehensive selection of world class banking products and services, which have been approved by the Shariah Supervisory Committee.
Tawafoq distinguishes itself for the rigor with which it ensures Islamic correctness in all its products. Therefore, every product introduced by BSF's Islamic Banking is carefully evaluated and monitored by the Shariah Supervisory Committee.
Banque Saudi Fransi offers the following Tawafoq products and services:
- Islamic branches
- Murabaha Personal financing
- Tawarruq Personal financing
- Murabaha Sakan Home financing
- Takaful Al Ghad
- Takaful Al Anjal
We have also supported those products with the latest technologies to give you more simplicity and convenience in reaching your account and performing your banking transactions.
Shariah Committee
The Shariah compliance team of Islamic banking monitors application of Shariah compliant products and services by the branches and businesses, to ascertain proper application from a Shariah perspective and develop procedures compliant with Shariah principles and guidelines.
To ensure that all of Tawafoq Islamic products, services and transactions are fully compliant with Shariah, each one is vetted and approved by a Shariah committee before it is made available to customers. The Committee meets regularly for review and appraisal and is comprised of the following members:
v Sheikh Abdullah Bin Sulaiman Al Manea
- Member of Supreme Judiciary Committee of Saudi Arabia
- Member of the Islamic Fiqh Academy, Jeddah
- Former Deputy President of Makkah Courts
- Advisor to several Islamic financial institutions and author of various books on Islamic banking
v Sheikh Dr. Abdul Sattar Abu Ghuddah
- Expert at the Islamic Fiqh Academy, Jeddah
- Editor of the Review of Islamic Economic and Shariah
- Advisor to several Islamic institutions and author of various books on Islamic banking
v Sheikh Dr. Muhammed A. Elgari Bin Eid
- Associate Professor and Former Director of the Center for Research in Islamic Economics at King Abdul Aziz University
- Expert at the Islamic Fiqh Academy, Jeddah
- Editor of the Review of Islamic Economic and Shariah
- Advisor to several Islamic institutions and author of various books on Islamic banking