Legislature

The Sharia Supervisory Board of Amin Al Iraq Bank for Islamic Investment and Finance applies the provisions of Islamic Sharia to all its transactions from the beginning of its operations. This Board is composed of scholars in Islamic Sharia and specialists in Islamic jurisprudence and economics. This is done to ensure that the bank's operations are consistent with the bank's bylaws and articles of association, which stipulate that its transactions shall be in accordance with the provisions of Islamic Sharia.

Tasks

To direct, monitor, and supervise the bank's activities, ensuring their compliance with the provisions and principles of Islamic Sharia before the bank commences these activities, during their implementation, and upon completion. The Board's fatwas and decisions are binding on the bank. The Board is accountable to God Almighty, then to the General Assembly and the Board of Directors in the event of deficiencies in Sharia supervision, provided

Conditions for the Independence of the Sharia Supervisory Board Members

• None of the board members must have a first- or second-degree kinship with current or former senior executives (current or previous year) at the bank or its subsidiaries.
• None of the board members must have been a shareholder in the bank, a member of the bank's board of directors, or an employee of the bank's subsidiaries during the past two years from the date of appointment.
• None of the board members must have been a member of the Sharia Supervisory Board of any other Islamic bank in Iraq.

Dissolution of the Sharia Supervisory Board

The Sharia Supervisory Board may not be dissolved or any of its members dismissed except by a reasoned decision from the board, by a two-thirds majority of the members, after a justified warning is issued, a correction period is specified, and after considering the views of the Sharia Supervisory Board or any of its members to be dismissed, obtaining the approval of the bank's general assembly and the bank. Central