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SG-A.1.2

Shari'a Governance can be defined as a system whereby a Bahraini Islamic bank licensee attempts to comply with Shari'a in all its activities. It is the duty of all the stakeholders to strengthen Shari'a Governance framework of their respective institutions. The main objectives of a Shari'a Governance framework are:

(a) To provide a structure and a system to govern all the business activities of the Bahraini Islamic bank licensee in order to ensure Shari'a compliance at all times and at all levels.
(b) To enable the Bahraini Islamic bank licensee to be perceived as Shari'a compliant by the stakeholders including the general public.
August 2017