MBSB Group has appointed Ashraf Gomma Ali as its Chief Shariah and Sustainability Officer, effective 1 August 2024.

In his new role, Ashraf will lead both the Shariah and Sustainability functions at MBSB Group.

MBSB said that his dual responsibility highlights its focus on combining Shariah principles with sustainability initiatives.

With over 15 years of experience across North America, the Middle East, and Southeast Asia, Ashraf brings extensive expertise in Shariah supervisory, advisory, and management roles.

Ashraf is an internationally recognised Shariah scholar and Islamic banker, known for his contributions to Islamic finance, particularly in sustainability and ESG (Environmental, Social, and Governance) integration.

He has advised the World Bank Group – IFC on Islamic banking and contributed to drafting the Islamic banking section in the UNEP FI Principles of Sustainable Banking.

Ashraf has also been involved with international Islamic banking standard-setting bodies like AAOIFI, helping develop governance standards that incorporate sustainability and Shariah objectives.

He emphasizes the importance of balancing individual and collective obligations within Shariah, aiming for both compliance and positive societal impact.

Speaking about the importance of collaboration between the private sector, NGOs, and government, Ashraf said,

“Positive impact is the most challenging aspect of sustainability, but it can also be the most rewarding.

By connecting an ecosystem of actors in a collaborative way, we can truly make a difference. If this can be accomplished anywhere, MBSB is ready to be part of your journey towards a more sustainable future.”