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CourseFreeShariah governance and audit

Shari'ah Governance Quest

Run an Islamic bank's Shari'ah governance in a strategy game

Introductory · 5 hours · 11 lessons · Language: English and Arabic · ID: IFS-COU-0072

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Run an Islamic bank's Shari'ah governance in a strategy game. This free gamified course turns the basics of AAOIFI standards into five interactive missions. In each one you flip learning cards, make decisions in short scenarios, race through true-or-false rounds, match terms, put steps in order, sort what is allowed from what is not, and finish with a final challenge where you have three lives. You earn XP, keep streaks, collect stars and unlock a badge for every mission.

The missions:

  1. Why Shari'ah governance matters
  2. The Shari'ah supervisory board
  3. The Shari'ah compliance function
  4. Internal Shari'ah audit
  5. Reporting, non-compliance and purification

After each mission a short recap sums up what you unlocked, with the references. When all five badges are yours, take the final exam: 30 questions in 60 minutes, 70% to pass.

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

What you will learn

  • Explain why Shari'ah governance matters and name the four minimum Shari'ah organs and the roles of the board and management under GS 1 (2024).
  • Describe how the Shari'ah supervisory board is formed, what it decides and how it reaches sound, independent decisions under GS 20 and GS 18.
  • Apply the main tools of the Shari'ah compliance function under GS 9 to keep products and transactions in line with the SSB's rulings.
  • Outline how internal Shari'ah audit plans, tests, reports and follows up its work independently of management under GS 11.
  • Handle a Shari'ah non-compliance event, purify non-compliant income and read the SSB's annual report under GS 20 and GS 21.

Syllabus

  1. 1.Mission 1: Why Shari'ah governance matters

    • How this quest works5 min
    • Mission 1: Why Shari'ah governance matters25 min
    • Recap: Why Shari'ah governance matters10 min

  2. 2.Mission 2: The Shari'ah supervisory board

    • Mission 2: The Shari'ah supervisory board25 min
    • Recap: The Shari'ah supervisory board10 min

  3. 3.Mission 3: The Shari'ah compliance function

    • Mission 3: The Shari'ah compliance function25 min
    • Recap: The Shari'ah compliance function10 min

  4. 4.Mission 4: Internal Shari'ah audit

    • Mission 4: Internal Shari'ah audit25 min
    • Recap: Internal Shari'ah audit10 min

  5. 5.Mission 5: Reporting, non-compliance and purification

    • Mission 5: Reporting, non-compliance and purification25 min
    • Recap: Reporting, non-compliance and purification10 min