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Certificate of Shariah Compliance We have reviewed the Sirat Premium Call Accounts, Sirat Saving Accounts, Sirat Islamic Investment Certificates Accounts, Sirat Current Accounts, Sirat Murabaha, Sirat

How to fill out certificate of shariah compliance

How to fill out certificate of shariah compliance

1. To fill out a certificate of shariah compliance, follow these steps:
2. Download the certificate template from a reputable source or consult with a relevant authority.
3. Fill in the basic information, such as the name of the institution or organization issuing the certificate.
4. Include the details of the shariah advisor or board responsible for determining compliance.
5. Specify the date and duration of the compliance certification.
6. Provide a brief description of the products, services, or operations that are being certified as shariah compliant.
7. Include any specific shariah requirements or guidelines that were followed during the certification process.
8. Add a statement or declaration confirming that the institution or organization has complied with shariah principles.
9. Include the contact information of the person or department handling inquiries related to the certificate.
10. Double-check all the information for accuracy and completeness.
11. Sign and stamp the certificate to validate its authenticity.

Who needs certificate of shariah compliance?

1. Various entities and organizations may need a certificate of shariah compliance, including:
2. - Islamic financial institutions, such as banks, insurance companies, or investment firms.
3. - Halal certification bodies responsible for certifying food, cosmetics, or pharmaceutical products.
4. - Islamic charities and non-profit organizations involved in fundraising or managing Islamic funds.
5. - Businesses or corporations engaging in Islamic finance or offering shariah compliant products or services.
6. - Governments or regulatory authorities seeking to ensure adherence to shariah principles in certain sectors.

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What is certificate of shariah compliance?

A certificate of shariah compliance is a document issued by a qualified shariah advisor or board, confirming that a particular financial product, transaction, or operation complies with Islamic law (shariah).

Who is required to file certificate of shariah compliance?

Entities such as Islamic financial institutions, banks offering shariah-compliant products, and companies involved in Islamic finance are generally required to file a certificate of shariah compliance.

How to fill out certificate of shariah compliance?

To fill out a certificate of shariah compliance, one must provide detailed information about the financial product or service, the shariah board's opinion on conformity with Islamic principles, and any relevant documentation to support the compliance statement.

What is the purpose of certificate of shariah compliance?

The purpose of the certificate of shariah compliance is to provide assurance to stakeholders that the financial product or practice adheres to Islamic law, thus promoting transparency and building trust in shariah-compliant financial services.

What information must be reported on certificate of shariah compliance?

The certificate must include the name of the issuing entity, a description of the financial product or service, the opinion of the shariah board regarding its compliance, and the signatures of the authorized members of the shariah board.