1.1 The Central Bank seeks to promote development of the banking activities to ensure its effectiveness and efficiency. To achieve this, financial institutions that conduct all or part of their activities and businesses in accordance with the provisions of Islamic Shari'ah (Islamic Financial Institutions "IFIs") must have in place comprehensive and effective governance frameworks to enhance the compliance with Islamic Shari'ah provisions and principles ("Islamic Shari'ah") in those institutions. to ensure their resilience, and promote general financial stability.

1.2 IFIs must have Shari'ah governance policies and mechanisms that cover all their operations and activities to ensure they are compliant with Islamic Shari'ah.

1.3 This standard is issued pursuant to the powers vested in the Central Bank under the provisions of the Decretal Federal Law No. (14) of 2018 Regarding the Central Bank & Organization of Financial Institutions and Activities (the Central Bank Law).

1.4 Where this standard includes a requirement to provide information, or to take certain measures, or to address certain items listed as a minimum, the Central Bank may impose requirements, which are additional to the requirements provided in the relevant article.