SG-2.3.28
The opinion paragraph of the report must at least contain the following:
(a) Whether or not in the SSB's opinion, the contracts, transactions and dealings entered into by the Bahraini Islamic bank licensee are in compliance with the rules and principles of Shari'a;
(b) Whether or not in the SSB's opinion, the allocation of funds, weightages, profit sharing ratios, profits and charging of losses (if any) relating to investment accounts conform to the basis given by the SSB in accordance with Shari'a rules and principles;
(c) Whether or not in the SSB's opinion, any earnings that have been realised from sources or means prohibited by Shari'a rules and principles have been disposed to charitable causes;
(d) Whether or not in the SSB's opinion, the calculation of Zakah is in compliance with Islamic Shari'a rules and principles; and
(e) If the SSB has ascertained that the management of the Bahraini Islamic bank licensee has not complied with Shari'a rules and principles or the fatawa, rulings and guidelines issued by the SSB, then the SSB has to report the non-compliance issues in the opinion paragraph of its report.
August 2017