SG-2.9.2
The mechanism for obtaining rulings from the SSB, applying fatawa and monitoring Shari'a compliance must cover:
(a) Both ex ante and ex post aspects of all financial transactions carried out by the Bahraini Islamic bank licensee — that is, to ensure Shari'a compliance of the contracts and, later, the performance of obligations under the contracts; and
(b) Operations of the Bahraini Islamic bank licensee , including aspects such as Shari'a compliance review, investment policies, disposal of Shari'a non-compliant income, charitable activities, etc.
August 2017