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Article (4) General Requirements For Issuing The Annual Shari’ah Report

N 880/2024 Effective from 9/2/2024
4.1The Annual Shari’ah Report represents annual disclosure of the Internal Shari’ah Supervision Committee (“ISSC”) on the level of Company’s compliance with Islamic Shari’ah Provisions. Accordingly, responsibility for preparing the Annual Shari'ah Report rests with the ISSC, within the mechanisms and requirements stipulated in the Standard.
 		  
4.2The Annual Shari’ah Report shall be presented at the general assembly in accordance with the applicable regulatory requirements.
 		  
4.3The Annual Shari’ah Report shall be submitted to the HSA for review and approval prior to its submission at the general assembly, no later than one month prior to the date of the general assembly of the Company, in order to make any comments.
 		  
4.4The ISSC must verify accuracy and validity of all information in the Annual Shari’ah Report before its submission to the HSA.
 		  
4.5The ISSC must ascertain that all information required to be stated in the Annual Shari’ah Report as per the template in Article (6) are included in the designated places of the report before submitting it to HSA.
 		  
4.6The ISSC must ensure that all duties fulfilled by the ISSC, as outlined in the Annual Shari’ah Report, are well documented for audit purposes.
 		  
4.7The Company shall publish the Annual Shari’ah Report in the Company’s disclosures of financial statements and other available means.