Certified Shari'ah Compliance Officer: study modules
Three short modules on running the Shari'ah compliance function, from its role to daily reviews and reports
Introductory · 3 hours · 9 lessons · Language: English and Arabic · ID: IFS-COU-0031
The Shari'ah compliance function is how an Islamic financial institution keeps its Shari'ah promise every day. These three short modules explain, in plain language, where the function sits in the Shari'ah governance framework and who is responsible for it, how a Shari'ah compliance department is set up and staffed, and how it reviews transactions, escalates breaches and reports to senior management and the Shari'ah Supervisory Board.
Each module has a reading with a worked example, slides, study notes and a short practice quiz. The modules prepare you for the Certified Shari'ah Compliance Officer exam.
This is independent ifSPACE material written in its own words; it is not affiliated with AAOIFI and is not a fatwa.
What you will learn
- Explain the role of the Shari'ah compliance function among the Shari'ah governance bodies and who is responsible for it
- Describe how a Shari'ah compliance department is structured, staffed and kept independent of the business
- Plan simple compliance reviews, escalate breaches by type and prepare quarterly and annual compliance reports
Syllabus
1.The compliance function in Shari'ah governance
- What the compliance function is and who is responsible20 min
- Module 1 presentation15 min
- Module 1 practice quiz10 min
2.Setting up the Shari'ah compliance department
- Structure, people, policies and the SSB secretariat20 min
- Module 2 presentation15 min
- Module 2 practice quiz10 min
3.Reviews, escalation and reporting
- Reviewing transactions, handling breaches and reporting20 min
- Module 3 presentation15 min
- Module 3 practice quiz10 min