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SG-5.2.3

The independent external Shari'a compliance audit report must be guided by International Standards on Assurance Engagements 3000, Assurance other than Audits or Reviews of Historical Financial Information in order to ensure that Bahraini Islamic bank licensee's activities are conducted in a Shari'a compliant manner in accordance with and following the below hierarchy:

a. relevant CBB regulations, resolutions and directives;
b. applicable AAOIFI standards;
c. the rulings of the Centralised Shari'a Supervisory Board; and
d. Shari'a guidelines / directives issued by its SSB.
Amended: January 2019
August 2017