CMA: establishment of a Supreme Sharia Supervisory Board

The Omani government has established a Supreme Sharia Supervisory Board (SSSB) in the Capital Market Authority (CMA).

The board aims to improve the legislative and regulatory processes for companies engaged in Takaful insurance activities in the Sultanate.

The SSSB includes five members, among whom is a chairman. At least three members of the board must hold a bachelor's degree in Islamic Shariah or an equivalent diploma.