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OM-1.1.4

Shari'a non-compliance is a unique risk for Licensees offering shari'a-complaint products and services through Islamic windows resulting from non-compliance with the rules and principles of Shari'a. It is crucial to identify the Shari'a non-compliance risk inherent in different kinds of Shari'a-compliant contracts, and to outline a set of variables that help to estimate the likelihood and severity of Shari'a non-compliance risk. Refer to Appendix B for Shari'a requirements on financing contracts.

Added: January 2020