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قسم كامل طباعة مخصصة نص فقط النص الغني الطباعة

11.1.1 General Provisions for Inclusion

C 8/2020 STA يسري تنفيذه من تاريخ 25/12/2020
  1. 11.1.1.1Where IFIs offer Islamic Financial Products and/or Services, the Board and Senior Management must monitor and ensure that they are fully compliant with Shari’ah principles and governance. Shari’ah governance rules are set out in separate Regulation issued by the Central Bank.
  2. 11.1.1.2ISSC is responsible for the Shari’ah compliance and the fairness of the Financial Products and/or Services offered by IFIs in accordance with the Shari’ah Governance Standard for IFIs.
  3. 11.1.1.3IFIs must establish an effective and fair distribution of profit between the IFIs (shareholders) and investment accountholders (profit distribution mechanisms) in accordance with the applicable, relevant standards. IFIs and their respective ISSC should have effective oversight over profit distribution.
  4. 11.1.1.4IFIs must integrate Shari’ah compliance into their culture, processes, operations and code of conduct.
  5. 11.1.1.5IFIs must establish effective and independent oversight to ensure Shari’ah compliance throughout the organization.
  6. 11.1.1.6IFIs must educate Consumers on the differences between conventional and Islamic financial products as well as the principles and the contracts that their Financial Products and/or Services are based on.
  7. 11.1.1.7IFIs must disclose to Consumers the legal consequences of the contracts used in the financing provided to the Consumer.
  8. 11.1.1.8IFIs must disclose to Consumers the legal consequences of their choices.
  9. 11.1.1.9IFIs must ensure that the Consumers are presented with adequate information in regards to the Financial Products and/or Services they offer, including Shari’ah Certificates and grant access to the internal Shari’ah functions in case the Consumers have doubts about the Shari’ah compliance of the Financial Products and/or Services.
  10. 11.1.1.10ISSC must ensure that obligation to pay charity in case of a Consumer's default is not abused by the IFIs and the relevant departments.
  11. 11.1.1.11ISSC must ensure that the obligation set out above is not exercised if the Consumer is insolvent or bankrupt (not Mumatil).