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V. Shari’ah Implementation

C 52/2017 STA Effective from 1/12/2022

66.Banks offering Islamic financial services engaging in Shari’ah compliant leverage practices as approved by their internal Shari’ah control committees should calculate the leverage ratio capital in accordance with provisions set out in these standards & guidance and in the manner acceptable by Shari’ah. This is applicable until relevant standards and/or guidance in respect of these transactions are issued specifically for banks offering Islamic financial services