Islamic Finance Handbook Series 2 - Internal Shariah Audit Framework for Islamic Financial Institutions

The present handbook is about Internal Shariah Audit Framework for Islamic Financial Institutions. Shariah audit serves as a crucial control function within Islamic financial institutions (IFI), playing a significant role in enhancing the efficiency and effectiveness of Shariah governance. By ensuring compliance with Islamic principles, Shariah audit adds value to the overall status of the IFI. Like any other organization, IFIs must establish a Shariah audit framework to guide the proper conduct of Shariah audit exercises with optimal efficiency. This proposed framework outlines the procedures and standard necessary for a thorough and effective Shariah audit process, helping IFIs uphold their commitment to Shariah compliance and governance.