The Shariah Governance Framework is inordinately integral to Islamic Financial institutions as it strengthens public confidence, provides stability to the financial systems, and promotes effective and appropriate end-to-end Shariah internal controls to prevent Shariah Non-compliance risk(SNCR). To implement robust Shariah Governance, the internal control functions such as the Internal Sharia Audit, Shariah Review, and Shariah Risk Management must be effective and appropriate to their size, nature of business, the complexity of activities, and structure so that the overall operations of the Islamic Financial Institution are Shariah compliant.

At iBantu, we delivered the desired outcome of providing assurance and consulting services to your organization through:

• Establishment of an effective Internal Shariah Audit – Third Line of Defence
• Formulating and implementing Shariah Risk Management and Compliance functions – Second Line of Defence
• Placing an effective operational management function to the systems, processes, products, activities, supervisory reviews, and continuous monitoring processes – First Line of Defence