Article (9) Issues and Actions
Effective from 3/4/2025The SCF shall record each identified finding/incident in the report that follows every field review. The identified issues must be factual, accurate, precise, objective, clear, concise, complete and supported with:
| a. | Adequate evidence that demonstrates the accuracy and factuality of the identified finding. |
| b. | Determination of the Shari’ah or governance or other documents and the relevant paragraphs from which deviation has occurred, if applicable, such as, but not limited to specific Regulatory Requirements, ISSC’s Resolutions, or the Products Manual. |
| c. | Specification of the root cause that has triggered the identified finding. |
| d. | Establishment of a clear action plan that adequately addresses the root cause and closes the gap, and specification of the party responsible for the action plan. |
| e. | Specification of risk rating of the identified incident according to the approved risk matrix of the IFI which is prepared by risk management department. |