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:
Carrying out Shariah Audit as part of External Audit team
Setting up Shariah Audit Department
Risk Identification & Management