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  • SG-5.1 SG-5.1 Principle

    • SG-5.1.1

      Bahraini Islamic bank licensees must appoint, within 4 months of their financial year-end, an independent external Shari'a compliance auditor (IESCA) approved by the CBB.

      Amended: October 2022
      August 2017

    • SG-5.1.2

      For the purpose of Paragraph SG-5.1.1, Bahraini Islamic bank licensees may engage their external auditor or other independent audit firms as approved by the CBB.

      August 2017

    • SG-5.1.3

      The IESCA must be adequately resourced with proficient staff having the relevant qualification and experience.

      August 2017