Sharia Professionals Association

What Sharia Professionals Association does

Sharia Professionals Association (SPA) is a Dubai-based non-profit professional association established in 2016 and formally registered under the Dubai Chamber of Commerce and Industry - Dubai Centre for Associations in 2020. It operates as a community of practice for the Sharia functions of Islamic financial institutions in the UAE and broader MENA region, convening practitioners through three recurring annual forums: the Sharia Departments Forum (held nine times through 2024), the Sharia Auditors Forum (launched by 2022), and the Sharia Controllers Forum. Its core deliverables are events, accredited training and certificates (1,047 professionals trained, 908 certificates issued), issuance of Sharia professional standards, research publications and forum recommendations, and Sharia compliance consultations.

The organization is membership-funded, with three tiers: individual membership (free for the first year as of 2022, then fee-based), corporate membership for Islamic finance entities, and honorary membership (fee-exempt, extended to senior industry figures). The 1-10 employee association is governed by a board chaired by Sheikh Moosa Khoory with Dr. Mohamed Obadah Adi as Vice Chairman and Scientific Committee chair. There is no proprietary technology platform; delivery is anchored in physical forums in Dubai augmented by social media, email newsletters, and a YouTube channel for event content.

Its named institutional participants are concentrated among the major UAE Islamic banks — Emirates Islamic Bank, Dubai Islamic Bank, Al Hilal Bank, Ajman Bank, Abu Dhabi Islamic Bank, and Sharjah Islamic Bank — and its key strategic partner is the Sharjah Center for Islamic Economy at Al Qasimia University, with whom an MoU was signed in June 2023. SPA's competitive position rests on its first-mover community status in UAE Sharia professional standards and its embedded relationships with senior Sharia leaders at these institutions, rather than on any technology, data, or AI capability.

Name

Sharia Professionals Association

Legal name

Sharia Professionals Association

Website

https://shariapa.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Sharia Professionals Association is a Dubai-based non-profit association that convenes Sharia departments, auditors, and controllers of Islamic financial institutions through annual forums, accredited training, professional standards, and certifications, primarily serving UAE and MENA Islamic banks.

Ownership category

akta.pro rank

Product category

Islamic Finance Professional Association

NAICS

Business Associations (813910), Professional Organizations (813920), Religious, Grantmaking, Civic, Professional, and Similar Organizations (813)

SIC

Services-Membership Organizations (8600), Services-Educational Services (8200)

akta.pro primary industry

Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

akta.pro secondary industries

Finance, Accounting & Risk (CFA/CPA/FRM) Certifications (EDAAANAD), Legal, Governance, Privacy & Audit Certifications (EDAAANAN), Online/Distance Education Quality & Accreditation Bodies (EDADACAK)

Keywords

• Islamic finance association
• Sharia compliance standards
• Professional membership services
• Sharia audit forums
• Islamic banking training

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership Fees: The association generates revenue through individual, corporate, and honorary memberships. Individual membership is offered free for the first year 2022, with subsequent fees applying. Corporate membership fees are charged to companies and entities. Honorary members are exempted from membership fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Sharia Professionals Association (SPA) is a non-profit professional association that organizes annual forums, training courses, and workshops for Sharia departments, auditors, and controllers in Islamic financial institutions. It issues professional Sharia standards, provides accredited certificates, delivers Sharia compliance consultations, and offers individual, corporate, and honorary membership programs to professionals and entities in the Islamic finance sector.

Product overview

Sharia Professionals Association (SPA) is a non-profit professional association established in Dubai, UAE since 2016, registered under Dubai Chamber of Commerce and Industry - Dubai Center for Associations. The organization operates as a platform that organizes annual forums, training courses, workshops, and issues professional standards for Sharia compliance in Islamic financial institutions. The core offerings include three main forums (Sharia Departments Forum, Sharia Auditors Forum, and Sharia Controllers Forum), training programs, accredited certificates, Sharia consultations, and membership programs (individual, corporate, and honorary). The association has delivered over 15 events, trained 1047 participants, and issued 908 certificates. Publications include research and recommendations from annual forum discussions.

Differentiator

Problem solved

Functional benefit

Products and services

• Sharia Departments Forum (ملتقى الإدارات الشرعية) Annual forum gathering Sharia departments from Islamic financial institutions in the UAE to discuss various topics in the Islamic financial industry and produce practical results and recommendations for best practices.
• Sharia Auditors Forum (ملتقى المدققين الشرعيين) Forum that includes workshops and training courses within a series of programs for the development of Sharia audit work and its procedures.
• Sharia Controllers Forum (ملتقى المراقبين الشرعيين)

Quantifiable outcome

• 1047 professionals trained through programs
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Al Qasimia University - Sharjah Center for Islamic EconomynotableStrategic or Co-development Partner · 21 June 2023A Memorandum of Understanding was signed between the Sharia Professionals Association and the Sharjah Center for Islamic Economy at Al Qasimia University on June 21, 2023. This partnership aims to strengthen cooperation in the field of Islamic economics research and professional development.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions): The Bahrain-based global standard-setter for Sharia and accounting standards in Islamic finance. Directly comparable as it also issues Sharia professional standards, certifications, and engages the same UAE Islamic banking Sharia departments that SPA targets.
• ISRA (International Shari'ah Research Academy for Islamic Finance): Malaysia-based research and Sharia advisory body serving Islamic financial institutions globally. Comparable because it produces Sharia research, advisories, and capacity-building programs for the same Sharia professional community.
• Ethica Institute of Islamic Finance: Dubai-based provider of Islamic finance certifications and training. Directly comparable as it issues accredited certificates to Sharia and finance professionals across the MENA region, overlapping SPA's training and certification programs.
• CIBAFI (Council of Islamic Banks and Financial Institutions): A Bahrain-based international membership organization serving Islamic banks and financial institutions. Comparable because it runs industry events, training, and thought-leadership programs aimed at the same Sharia and executive audiences in Islamic finance.

Emerging players

• Shariyah Review Bureau: Dubai-based Sharia advisory and review firm serving Islamic financial institutions. Comparable because it operates in the UAE Islamic finance Sharia compliance space and engages the same institutional clients SPA serves through its forums.
• Global Centre for Islamic Finance, Lahore: Pakistan-based center promoting Islamic finance education, certifications, and industry events. Comparable as a non-profit association issuing Islamic finance certifications and convening Sharia professionals.
• Dar Al Sharia: UAE-based Sharia advisory firm providing Sharia reviews, audit, and consultations to Islamic banks. Adjacent peer that intersects with SPA's Sharia consultations and audit-related forum content.

Regional players

• Bahrain Institute of Banking and Finance (BIBF): A leading regional training and professional certification institute based in Bahrain serving the GCC banking sector. Comparable as a membership-and-training model institution offering banking certifications and executive programs across MENA.

Broad incumbents

• IFSB (Islamic Financial Services Board): An international standard-setting body for Islamic financial services, headquartered in Kuala Lumpur. Overlaps with SPA on Sharia governance and prudential standards affecting the same UAE/MENA Islamic bank members.
• IIFM (International Islamic Financial Market): Bahrain-based industry body focused on Islamic capital and money markets, including Sharia standardization. Comparable as a regional industry association serving Islamic financial institutions with events and standards work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/sharia_p_a
• YouTubeyoutube.com/channel/UCAvcAMzJZ-4zx6jIebiPk2g
• LinkedInlinkedin.com/company/sharia-p-a
• Instagraminstagram.com/sharia_p_a

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about Sharia Professionals Association