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Article (8) Compliance with the Standard

N 4743/2020 Effective from 26/10/2020
  1. 8.1 The Institutions housing an Islamic Window must set a Shari’ah governance framework in accordance with this Standard within 180 days from issuing this standard. The same must be submitted to the Central Bank for approval.
     
  2. 8.2 The Institutions housing an Islamic Window should comply fully with these standard requirements within one year from publishing this standard.
     
  3. 8.3 The Regulatory Development Division of the Central bank shall be the reference for interpretation of the provisions of this Standard.