KUWAIT CITY, Dec 17: Kuwait Finance House (KFH) has commenced Shariah Audit program comprising models and practices of various sharia transactions, and thorough illustration on their provisions.
The program was held in presence and participation of the staff of Shariah Control Departments at KFH-Group including Turkey, Bahrain, Malaysia and Kuwait. This serves in achieving the goal of exchanging expertise and information on the field of Shariah audit at the level of the group. It is worth noting that the program is the first of its kind at the level of the Group.
Shaikh Tareq Mufarreh, Shariah Audit Manager at KFH-Bahrain presented the program that consists of practical and theoretical chapters.
The program tackles a number of significant subjects such as the importance of Shariah control in the work of Islamic financial institutions, the goals and regulations of Shariah audit, mapping out plans and specialized agendas for the sharia audit purposes, in addition to the procedures of implementing the results of Shariah audit reports.
The training program took into consideration the different work environments of the group banks and the various markets and customers’ requirements, in addition to the various regulations, bearing in mind the strict commitment in complying with the rules and provisions of Shariah and the approved criteria from Fatwa and Shariah Supervisory Board at KFH.