Non-compliance with Shariah can have serious implications and reputational risk. According to AAOIFI and IFAS guidelines, Islamic Financial Institutions should perform a yearly Shariah audit on its products to ensure their compliance with Shariah guidelines.
At Ihdinaa, we have the expertise to help you with the Audit process, including below:
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Carrying out Shariah Audit as part of External Audit team
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Setting up Shariah Audit Department
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Risk Identification & Management
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Corporate Governance