Shari'a Compliance
Islamic Banks are required to have two levels of Shari’a overseeing bodies.
The first level is a Shari’a Supervisory Board whose objectives are to study and analyze financial issues, review financial transactions undertaken by the bank and report on their findings in respect of Shari’a requirements.
The second level is the Internal Shari’a Audit to ensure business operations are conducted in accordance to the Shari’a. |
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