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Exam preparationPaidShariah governance and audit

The Shari'ah Governance Framework and the Shari'ah Supervisory Board

GS 1 (2024), SSB appointment, functions, decision-making, review and report, central Shari'ah boards and Islamic subsidiaries

Advanced · 10 hours · 20 lessons · Language: English and Arabic

USD 9USD 19

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ifSPACE provides independent preparation courses. ifSPACE is not AAOIFI, is not an AAOIFI-authorized training provider, and completing a preparation course does not confer any AAOIFI qualification. AAOIFI examinations are taken separately with AAOIFI.

AAOIFI's revised Shari'ah governance framework, issued in 2024 and effective from 2026, sets out how Islamic financial institutions organise and oversee Shari'ah compliance. This course explains the fourteen principles of GS 1 (2024), the appointment and composition of the Shari'ah supervisory board (GS 19), its functions and operations (GS 20), the Shari'ah decision-making process (GS 18), the SSB's review and report (GS 21), central Shari'ah boards (GS 8) and Islamic finance subsidiaries and associates of conventional institutions (GS 22).

The course covers the core of Part A of the AAOIFI CPAAGE syllabus. Each module has a reading, slides, study notes and a practice quiz. The course ends with a final exam.

This course is independent educational material written by ifSPACE in its own words. It does not reproduce AAOIFI texts and is not affiliated with AAOIFI.

What you will learn

  • Explain the fourteen principles of the Shari'ah governance framework and the roles of its organs
  • Apply the requirements for appointing, composing and disqualifying a Shari'ah supervisory board
  • Describe the SSB's functions, meetings, documentation and independence requirements
  • Apply a disciplined Shari'ah decision-making process and recognise biases that distort it
  • Explain the SSB's review and report, and the governance of central boards and Islamic subsidiaries

Syllabus

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  1. 1.The Shari'ah governance framework (GS 1, 2024)

    • Welcome to the courseFree preview1 min
    • Fourteen principles and the organs of Shari'ah governanceFree preview30 min
    • Module 1 presentation15 min
    • Module 1 practice quiz15 min

  2. 2.Appointing and composing the SSB (GS 19)

    • Who sits on the SSB and how they are chosen30 min
    • Module 2 presentation15 min
    • Module 2 practice quiz15 min

  3. 3.SSB functions and operations (GS 20)

    • What the SSB does and how it works30 min
    • Module 3 presentation15 min
    • Module 3 practice quiz15 min

  4. 4.The Shari'ah decision-making process (GS 18)

    • Reaching sound Shari'ah decisions30 min
    • Module 4 presentation15 min
    • Module 4 practice quiz15 min

  5. 5.SSB review and report (GS 21)

    • How the SSB forms and expresses its opinion30 min
    • Module 5 presentation15 min
    • Module 5 practice quiz15 min

  6. 6.Central Shari'ah boards and Islamic subsidiaries (GS 8 and GS 22)

    • Governance beyond the single institution30 min
    • Module 6 presentation15 min
    • Module 6 practice quiz15 min
    • Course summary and next steps10 min