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The Central Bank is circulating the Sharia Compliance Report on Islamic Banks DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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The Central Bank is circulating the Sharia Compliance Report on Islamic Banks

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The Central Bank is circulating the Sharia Compliance Report on Islamic Banks Empty The Central Bank is circulating the Sharia Compliance Report on Islamic Banks

Post by RamblerNash on Thu May 16, 2019 10:55 pm

The Central Bank is circulating the Sharia Compliance Report on Islamic Banks

The Central Bank is circulating the Sharia Compliance Report on Islamic Banks 15179

Logo of the Central Bank of Iraq
 
05/16/2019

Economy News _ Baghdad

The Central Bank of Iraq (CBE) announced on Thursday that it will complete the report of the Sharia Compliance Monitor, adding that the report will be approved during the third quarter of this year.

"The report takes into account the specificity of Islamic banks and the continuous communication between the Sharia Compliance Controller and the Central Bank's Banking Control Department," the bank said in a statement received by Al-Iktissad News. "This report establishes an Islamic banking system that complies with the best international standards and specifications "He said.

"The report seeks to ensure access to legitimate banking compliance and compliance monitoring to the best practices required," the statement said.

He pointed out that "the report will be adopted during the third quarter of this year, and gave the bank Islamic banks thirty days to show their observations on the report."

It is worth mentioning that the function of the Shari'a Compliance Monitor in Islamic banks monitors the risks of non-compliance with the regulatory and legal framework, including Islamic Sharia.

http://economy-news.net/content.php?id=16641
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