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VI. Shari’ah Implementation

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

34.Banks offering Islamic financial services engaging in Shari’ah with respect to operational risks as approved by their internal Shari’ah control committees should calculate the Operational risk capital in accordance with provisions set out in this standard/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