Al Marjea for Professional Services Closed Joint Stock Company (CAM), a Saudi-based provider of Sharia compliance support services, has acquired Shariyah Review Bureau (SRB), a top-tier international provider of Sharia assurance services licensed by the Central Bank of Bahrain.
The consolidation marks a significant milestone in CAM’s long-term vision to build a unified, regional platform that delivers end-to-end Sharia compliance solutions. This strategic acquisition enables CAM to serve a broader spectrum of the Islamic finance ecosystem, including financial institutions, fintech startups, asset managers, banks, and insurance companies, through integrated Sharia advisory and Sharia assurance services offered via SRB.
By combining deep industry expertise with regulatory insight, the expanded platform aims to simplify compliance, enhance governance, and ensure greater transparency across markets. The move also reinforces CAM’s commitment to advancing the goals of Saudi Arabia’s Islamic Finance Strategy under Vision 2030, which seeks to position the Kingdom as a global hub for Islamic financial excellence and innovation.
Over the past two decades, Shariyah Review Bureau has earned a stellar reputation for providing Sharia certification and assurance services across the GCC and global markets. Meanwhile, Cooperative Advisory & Management (CAM), founded in Saudi Arabia, has rapidly expanded its client base to include financing companies and technology-driven fintech firms seeking Sharia compliance.
Following its acquisition of Shariyah Review Bureau, CAM will operate alongside it as synergistic yet distinct entities, maintaining their regulatory identities while aligning their strategic directions. This partnership combines extensive regulatory expertise, a network of over 40 scholars from more than 20 countries, and a solid organizational framework with a strategic operations center.
CAM’s headquarters in Riyadh will become the central hub for Sharia governance solutions, reflecting the growing trend of relocating consultancies to Saudi Arabia’s capital. Shariyah Review Bureau will continue to operate autonomously from its Bahrain headquarters, offering independent Sharia assurance services. Together, they are well-positioned to scale their offerings, unlock cross-border synergies, and meet the evolving needs of institutional clients in Sharia compliance.
Yasser Saud Dahlawi CEO – CAM
“This is more than just a merger of capabilities, it’s a convergence of shared values, expertise, and vision. Guided by Vision 2030’s ambition to establish the Kingdom as a center of excellence in Islamic Finance, we are integrating Shariyah Review Bureau’s deep specialization with CAM’s strategic footprint within the Kingdom. We are building a foundation for an institution capable of serving clients across different jurisdictions and markets with excellence, agility, and transparency. This union is a natural evolution of our shared vision to elevate Sharia compliance support and assurance. This step formally unites our expertise to better serve clients in the Kingdom and internationally navigating Sharia governance regulatory and Sharia audit requirements. Our combined heritage positions us uniquely for the next phase of regional capital market development.”
Shariyah Review Bureau has also made its mark to the promotion to the Islamic finance body of knowledge by publishing many peer reviewed research papers covering both central theses of Islamic finance in addition to the topics on the edges of innovation in the ever-growing field of contemporary finance.
