The Shariah Advisory Board was formed by Decision No. 386 of 2008 issued by the Monetary and Credit Council, based on the provisions of the Central Bank of Syria Law and the Basic Monetary System No. 23 of 2002, and the provisions of Article No. 12 of the Legislative Decree No. 35 of 2005 regarding the establishment of Islamic banks. The board is affiliated with the Monetary and Credit Council. It aims at expressing opinion and advice on matters referred to it in relation to Islamic finance by the Monetary and Credit Council, and contributing to the development of Islamic finance approaches.