Formal Shariah Governance/Oversight
Evaluates the structured process for obtaining and implementing scholarly guidance (iftāʾ) through consultative deliberation (shūrā). This formal oversight is crucial for upholding Amānah, assuring stakeholders of Shariah compliance in contracts, public claims, and operations, and safeguarding the organization’s integrity. Rooted in the pursuit of Maqāṣid al-Sharīʿah (objectives of Islamic law), particularly Ḥifẓ al-Māl (preservation of wealth), such governance ensures institutional practices remain strictly within the bounds of Ḥalāl (permissible). By institutionalizing Taqwā (God-consciousness), it actively prevents prohibited elements.
- The Essential Trustee (CC3)
- Conflicts of interest (CC9)
- Internal financial controls (CC8)
- Charities and investment matters (CC14)
- Ex gratia payments by charities (CC7)
- AAOIFI No. 1 — Shari’a Supervisory Board
- AAOIFI No. 2 — Shari’a Review
- AAOIFI No. 3 — Internal Shari’a Review
- ISO 37301:2021 — Compliance management systems
- ISO 37000:2021 — Governance of organizations
- ISO 31000:2018 — Risk management
Related Criteria
Discussion (1)
📋 **Version updated: 1.0.0 → 2.9.7** **Changes:** Updated islamic_references from mizan-297.json
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