An approach for performing audits (both financial and Shari’ah) with a specific focus on associated risks and risk-related areas that…

Arabic transliteration for receivables; the amounts which are due from an Islamic bank’s clients as a result of sale transactions…

The risk that arises from failure or inability to comply with shari’ah rules and principles. Shari’ah non-compliance risk is part…

A financial intermediary that mobilizes and directs funds (amwal) in a way compliant with shari'a principles and precepts (ahkam al-shari'a)....

Arabic (وكالة مطلقة) for unrestricted wakalah/ unrestricted agency; an agency contract (aqd al-wakalah) in which the principal (muwakkel) does not...

It stands for displaced commercial risk; a risk exposure, in Islamic banks and financial institutions (IFIs), whereby the institution attempts...

A risk exposure, in Islamic banks and financial institutions (IFIs), whereby the institution attempts to remain competitive and withstand commercial...

A banking loan (qard) that capitalizes on the contract of wakalah (wakalah bil-istithmar). It is done through the advance payment of profit...

An entity that operates as part of another entity (a conventional financial institution such as a bank) solely for provision...

An entity that operates as part of another entity (a conventional financial institution such as a bank) solely for provision...