Article Six: Responsibilities of Senior Management
| No: 42071901 | Date(g): 26/5/2021 | Date(h): 15/10/1442 | Status: In-Force |
Translated Document
- Identify Shariah-related issues and refer them to the committee for a decision, providing the necessary information and disclosures in a timely manner.
- Follow up on and implement the Shariah decisions issued by the committee.
- Provide continuous education and training programs for key internal stakeholders, including the Board, the committee, and employees involved in Shariah and financial matters1.
- Ensure that financing activities comply with the principles and rulings of Islamic Shariah as outlined in the committee's decisions and recommendations.
- Inform the Board and the committee about products suspected of not complying with Shariah principles through official reports, and immediately halt any products found to be non-compliant with Shariah principles.
- Promote and instill a culture of compliance with Shariah principles within the finance company and familiarize relevant employees with Shariah-compliant financing products.
- Develop financing products that align with Shariah principles and rulings.
1The paragraph is for guidance purposes.