IFR 3.7.3 Guidance

GSIFI No. (3) (Internal Shari'a Review) establishes standards and provides guidance on the internal Shari'a review in institutions that conduct business in accordance with Shari'a. The standard covers the following:

a. objectives;
b. internal Shari'a Review;
c. independence and objectivity;
d. professional proficiency;
e. scope of work;
f. performance of the internal Shari'a Review work;
g. management of the internal Shari'a Review;
h. quality assurance; and
i. elements of an effective internal Shari'a Review control system.
Derived from DFSA RM69/2010 (Made 1st March 2010). [VER1/03-10]