Qualified Finance Function & Oversight
Assessing whether the organization has a finance function (in-house or outsourced) with appropriate qualifications, experience, and governance oversight, it ensures that staff or providers possess the necessary competence for financial management, compliance (including fraud and data protection), and strategic planning, supported by active board-level financial expertise. This reflects the Islamic principle of kafa'ah (competence) and the maqasid objective of hifz al-mal (preservation of wealth), ensuring institutional resources are diligently safeguarded as a sacred amanah (trust).
Mā lā yatimm al-wājib illā bihi fa-huwa wājib
Whatever is necessary to fulfil an obligation is itself obligatory. Since safeguarding funds is obligatory, the competence and controls required to do so are also obligatory.
Iḥsān (Excellence)
Striving for excellence in all actions, manifested here by employing a highly qualified finance team.
Ahlīyah
Eligibility, mandating the appointment of qualified individuals.
Kafāʾah
Competence, mandating the appointment of qualified individuals.
Itqān (Perfection)
Performing work with the highest degree of skill. Operationalised through professional qualifications, CPD, and error minimization.
Discussion (1)
📋 **Version updated: 1.0.0 → 2.9.7** **Changes:** Updated islamic_references from mizan-297.json
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