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CM-1.7.7

To ensure the accuracy of the reports, Islamic bank licensees must maintain, at a minimum, the following:

(a) Defined requirements and processes to reconcile reports to risk data;
(b) Automated and manual edit and reasonableness checks, including an inventory of the validation rules that are applied to quantitative information. The inventory must include explanations of the conventions used to describe any mathematical or logical relationships that must be verified through these validations or checks; and
(c) Integrated procedures for identifying, reporting and explaining data errors or weaknesses in data integrity via exception reports.
Added: June 2022