How can we ensure that all the financings are in line with the pronouncements and directives of the Sharia Board? | ahli islamic

 

How can we ensure that all the financings are in line with the pronouncements and directives of the Sharia Board?

All transaction documents are approved before signing the contracts by the Bank’s Sharia Board. The Bank has Sharia compliance department, which monitors the operations of the Bank and ensures the implementation of Fatwa and Sharia Supervisory Board’s directives.  If any transaction is found as Sharia repugnant, its returns are not considered in the income of the Bank rather it is credited into charity account as per the Sharia Board’s decisions.