An example of an individual Shariah advisor is Sheikh Nizam Yaqubi, a Bahraini national, who advises scores of institutions around the globe.
The former is represented by the likes of Mufti Muhammad Taqi Usmani, a Pakistani cleric, who is chairman of the Shari'a advisory board of Accounting and Auditing Organisation of Islamic Financial Institutions (AAOIFI).
[2] In a number of jurisdictions, it is a regulatory requirement for Islamic financial institutions to appoint a Shariah advisor (with Pakistan, for example, requiring at least one individual to serve as a Shariah advisor for Islamic banks operating in the country; and Malaysia requiring Islamic banks to appoint a Shariah advisory committee comprising at least five individuals).
In Malaysia, for example it is sufficient to appoint a Shariah advisory firm (an independent institution) to seek advice on Islamic capital market transactions.
In Dubai International Financial Centre (DIFC), the requirement is to appoint a Shariah advisory committee comprising at least three individuals.