Managing Sukuk Governance

AAOIFI’s Sukuk Governance standard (12) is quickly becoming a priority initiative across the Islamic industry. We help you get in front of these stipulations and operational pressures by reviewing and simplifying your sukuk opportunity and streamlining reviews of documentation, processes, and Sharia controls. With our approach you will be able to cost effectively keep pace with AAOIFI Sukuk standards, Sharia governance requirements and ensuing regulatory demands while fully adhering to Sharia directives of the Sharia Board and Sharia audit reporting requirements.

How We Help Clients

From the outset of our engagement, we’ll establish a core team to provide a single point of contact and manage the overall relationship and services related to ensuring compliance with AAOIFI’s Sukuk Governance Standard. Having developed a meticulous framework, methodology for fatwa implementation and Sharia assurance, our team of professionals will work to provide a clear approach to help you manage the governance along with managing the outsourcing structure of internal and external Sharia audit that encompasses the specific needs of your Sukuk.

What we can do for you

We bring decades of experience in Sharia governance, helping you confirm to AAOIFI stipulations on Sukuks so that you can focus on what matters most at the business level. We take an integrated approach to improving Sharia controls while simultaneously creating business value at the review and fatwa level with consistent and homogeneous components. Across five critical focus areas we help you address:

  • Sharia Governance and operations: Help establish the Sharia Board, create the charter requirements of the Sukuk; review the credit rating certificates; creating a strong Sharia compliance system; and issuing the maturity report of the Sharia Board audit.
  • Methods and tools: Develop and implement a superior methodology and tool kit for managing the Sharia stipulations as per AAOIFI’s Sharia Standard No. 12 and 29.
  • Fatwa and Institutional framework: Transform stipulations and ethics of fatwa in the institutional framework by establishing a comprehensive, end-to-end transformation program for attaining Sharia compliance. Our calibrated approach to evaluating Sharia non-compliance risks will help you comply with AAOIFI mandates such as trading and listing, underwriting, management and utilization of proceeds, agency provisions including examining the responsibilities of the originator in maintaining Sharia compliance.
  • Internal Sharia Audit management: Develop a quality internal Sharia audit function based on the make-up and design of your Sukuk and issue periodic Sharia assurance to the Sharia Board while helping them provide routine oversight with regard to compliance with Sharia principles and rules.
  • External Sharia Audit practice: perform external Sharia audit and report specifically on the contractual compliance in line with the requirements of AAOIFI external Sharia audit standard.

Ready to navigate the complexities of Sukuk governance? We offer two more dedicated pathways on this journey.

Path 1: Learn how we can empower your Board of Directors’ by supporting them for Sharia Governance and bridging the gap. Stay ahead of the curve and explore the emerging trend here

Path 2: Unveil the Power of the Sharia Supervisory Board, build trust and enhance communication between the Board and the Sharia Supervisory Board. Start exploring here

No matter your starting point, both paths lead to better Sharia governance success with unwavering Sharia compliance support from us.

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