Nizam Yaquby

Who is Nizam Yaquby?

Nizam Mohammed Saleh Yaquby is an Islamic Shari'ah advisor, and one of the most powerful figures in the field of Islamic finance studies. A Bahraini, who holds a Ph.D in Islamic Law from the University of Wales and a BA in Economics and Comparative Religion from the McGill University in Canada, he sits on the boards of various banks as a Shari'ah advisor. He is a member of 46 Sharia Boards including Abu Dhabi Islamic Bank, Barclays, BNP Paribas, Credit Agricole CIB, Dow Jones Islamic Index, HSBC Amanah, Lloyds TSB, and Citi Islamic.

Yaquby has spoken in favor of the creation of an Islamic finance mega-institution by countries such as Malaysia, Sudan, Pakistan, Lebanon, Bahrain and others to streamline industry management and minimize risks. He is also known for his market-friendly rulings, including backing the use of the organized tawarruq structure, which the OIC Fiqh Academy declared to be a "deception" which contains elements of interest-based lending.

He also received guidance in classical Shari’ah from prominent scholars such as Abdulla al-Farisi, Yusuf al-Siddiqi, Muhammed Saleh al-Abasi and Muhammed Yasin al-Fadani. Experience includes khatib in Bahrain mosques, teaching tafsir, hadith, and fiqh in Bahrain.