Islamic bank licensees which are guided by the principles of Islamic Shari'a have additional responsibilities to their stakeholders. Islamic bank licensees which refer to themselves as "Islamic" are subject to additional governance requirements and disclosures to provide assurance to stakeholders that they are following Shari'a Principles. In ensuring compliance with Shari'a principles, each Islamic bank licensee must establish an independent Shari'a Supervisory Board consisting of at least three Shari'a scholars and complying with AAOIFI's Governance Standards for Islamic Financial Institutions No.1 and No.2.