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2. Definition of Internal Shari'ah Supervision Committee

N 5325/2020 Effective from 10/12/2020
  1. 2.1. Internal Shari’ah Supervision Committee (“ISSC”) is a body, appointed by the IFI, comprised of scholars specialized in Islamic financial transactions, with the mandate to independently supervise transactions, activities, and products of the IFI and ensures they are compliant with Islamic Shari’ah in all its objectives, activities, operations, and code of conduct and other mandates stated in the relevant laws and standards.