Unified UAE Legislation Database
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CBUAE Guidance Note Re Shari'ah Compliance Function at Islamic Financial Institutions

Status

In force

Issuing Authority

Central Bank

Effective date

XX.XX.XXXX

Official Link

https://
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TABLE OF CONTENTS
Subjectالصفحة
Page
الموضوع
Article (1)Introduction3المادة (1)مقدمة
Article (2)Objective3المادة (2)الهدف
# **Article (1)**
**Introduction**

This Guidance Note Re Shari'ah Compliance Function at Islamic Financial Institutions ("Guidance Note" or "Note") complements the Standard Re Shari'ah Compliance Function at Islamic Financial Institutions ("the Standard") with the aim to promote the development of the banking system and to ensure its effectiveness and efficiency.

# **Article (2)**
**Objective**

The Guidance Note contains guidance aimed at facilitating implementation of the requirements related to Shari'ah Compliance at licensed financial institutions that conduct all or part of their activities and businesses in accordance with the provisions of Islamic Shari'ah ("Islamic Financial Institutions" or "IFIs").

# **Article (3)**
**Scope of Application**

**3.1** The Guidance Note applies to all IFIs. IFIs may comply with the guidance stated in this Guidance Note or apply equivalent criteria in order to comply with the requirements stated i...