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Program Agenda
30th - 31st July, 2018 - Nairobi, Kenya
Contents Training
 
Shariah Framework for Shariah Compliance Review, Audit &Governance
  • Shariah principles, concept and framework
  • The do’s and don’ts in Islamic finance
  • Shariah review
  • Importance of Shariah in formulating
  • Shariah audit framework and policy
  • Shariah rulings and governance
  • Governance issues for Shariah advisory Board
Development of Shariah Compliance Review, Audit & Governance: Current State Analysis
  • Multi-disciplinary perspectives on role of Shariah compliance audit
  • Shariah goals, opinions & rulings propounded by Shariah scholars
  • Prudential guidelines & standards promulgated by IFSB to ensure risk management & disclosure framework related to capital adequacy, corporate governance & market discipline
  • Regulatory requirements by central banks, monetary authorities or supervisory agencies
Islamic Finance Transaction: Analysis of Shariah Compliance Objective
  • Islamic financial products: contracts & customer requirements
  • Product implementation phases
  • Transforming Shariah requirements to compliant objectives
  • Determination of compliance procedure
  • Testing for Shariah compliance
  • Reporting of Shariah compliance
Shariah Review & Auditing: Structure, Process (Ics) & Reporting
  • Shariah Review Framework of IFI
  • Shariah review requirements
  • Internal control system
  • Internal Shariah review
  • Scope & role of internal Shariah reviewer
  • Duties & responsibilities of Shariah Committee
  • Shariah compliance manual & documents
  • Auditor & SSB relationship
  • Auditing Framework of IFI
  • Auditing requirements & process
  • Audit Report of IFI
  • Shariah Report of IFI
  • Shariah governance assurance framework
Regulation & Governance: Role of Shariah Board
  • Islamic Finance, Islamic financial institutions (IFI) and Islamic Financial Services Industry (IFISI)
  • Essential considerations for regulation and governance
  • Comparative regulation of IFSI
  • Regulatory framework for Shariah supervision
  • Governance framework for Shariah supervision
  • Impact of regulation and governance on compliance behavior
Shariah Compliance & Internal Control System
  • Principles of operational risk
  • Shariah compliance: By Whom? For Whom?
  • Level of Shariah compliance behavior
  • Product structuring considerations
  • Stress Test: Islamic financial products
  • Areas of concern in Shariah compliance role
  • Role and functions of external auditors
  • IFSB – guiding principles on Shariah governance system
Shariah Audit Program: Key Consideration
  • Planning Phase
  • Audit objectives, program and techniques
  • Examination phase & the reporting phase
  • The Shariah requirement standards
Typical Pitfalls in Shariah Governance
  • Disclosure to Shariah board
  • Disclosure to clients on specific Shariah solutions
  • Understanding the building blocks in structuring products
  • Due diligence on corporate
  • Integrity in product development procedures
  • Integration between people, product and system
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