BackText onlyPrint

You need the Flash plugin.

Download Macromedia Flash Player

Location: Central Bank of Bahrain Volume 2—Islamic Banks > Part A > High Level Standards > SG Shari'a Governance > SG-1 Shari'a Governance Structure > SG-1.1 Principle > SG-1.1.2
  • SG-1.1 Principle

    • SG-1.1.1

      The Shari'a Governance structure adopted by the Bahraini Islamic bank licenseeG must be commensurate and proportionate with the size, complexity and nature of its business.

      August 2017

    • SG-1.1.2

      The Shari'a Governance structure must consist, at a minimum, of the following:

      (a) Shari'a Supervisory Board (SSB);
      (b) Shari'a Coordination and Implementation Function;
      (c) Internal Shari'a Audit Function; and
      (d) Independent External Shari'a Compliance Audit (IESCA)
      August 2017

    • SG-1.1.3

      It is the responsibility of the Bahraini Islamic Bank Licensee to ensure that the authority and organizational status granted to the various organs of Shari'ah Governance structure are commensurate with their level of responsibility.

      August 2017

Back to top