Fee per participant: RM5,250/US$1,350
Please note that the Ringgit price is applicable to Malaysia-domiciled participants only. Discounts are available for group bookings. Please contact us for more details.
Shariah Control, Compliance and Audit for Islamic Financial Institutions
Date: 11th & 12th August 2025
Venue: Kuala Lumpur
An Advanced Level Classroom Course
WHY THIS COURSE?
The value proposition of an Islamic financial institution—positioned as an alternative to conventional banking—stems from its adherence to core Shariah principles and prohibitions. These guidelines govern commercial transactions with a strong focus on ethics, justice, eliminating uncertainty, avoiding exploitation, and ensuring fairness in every financial activity. The Shariah Control, Compliance, and Audit (SCCA) framework is designed to confirm that all products, services, processes, operations, features, and transactions fully comply with these Shariah standards.
For professionals within these institutions, it is essential to have a clear and thorough understanding of SCCA requirements. This ensures that all activities remain in strict alignment with Shariah principles through the implementation of effective safeguards. Moreover, any discrepancies or violations must be swiftly identified and remedied. Regular, comprehensive audits are also critical to evaluate the institution’s overall adherence to Shariah standards, confirm that any issues are promptly addressed, and maintain robust internal controls.
This practical and interactive training program offers participants a solid grounding in the concepts of SCCA. Through engaging discussions, practical examples, and hands-on exercises, attendees will develop a deep understanding of how to implement, monitor, and maintain Shariah compliance effectively across all facets of their financial operations.
Key Learning Objectives and Takeaways:- This intensive 2-day course is designed to provide participants with a clear and practical understanding of the Shariah Control, Compliance, and Audit (SCCA) framework as applied within Islamic financial institutions. By the end of the program, participants will be able to:
- Explain the structure and sequential processes involved in SCCA, including how each component—compliance, control, and audit—functions within an Islamic financial institution.
- Identify common challenges, risks, and areas for improvement in Shariah compliance and audit practices, both generally and within specific organizational contexts.
- Gain familiarity with key standards and regulatory frameworks relevant to SCCA, including:
- AAOIFI Shariah Standards
- AAOIFI Accounting and Auditing Standards
- AAOIFI Governance Standards
- AAOIFI Code of Ethics
- IFSB standards and guidelines
- IFRS (formerly IAS)
- Recognize the role and importance of these standards in ensuring effective Shariah compliance, governance, and audit within financial institutions.
- Analyze and discuss how variations in Shariah interpretations across different jurisdictions impact compliance practices and operational strategies.
- Understand the fundamentals of an effective Shariah audit function, including audit planning, execution, reporting, and follow-up procedures.
If you are looking for an in-house training program or wish to send a group to an existing public program, kindly please contact Andrew Tebbutt at [email protected] or +603 2162 7802.
Learn More
Send me Details
For enquiries please contact:
Normariya Sariman
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 44
Ramesh Kalimuthu
Events Sales Director
[email protected]
Direct Line: +603 2162 7800 ext 65
Fax: +603 2162 7810
For sponsorship & speaking opportunities:
Andrew Tebbutt
Managing Director
[email protected]
Direct Line: +603 2162 7802
For marketing and media enquiries
Govina Selvanthran
Marketing Manager
[email protected]
Direct Line: +603 2162 7800 ext 22
Shariah Control, Compliance and Audit for Islamic Financial Institutions
Date: 11th & 12th August 2025
Venue: Kuala Lumpur
An Advanced Level Classroom Course
Send me Details
WHY THIS COURSE?
The value proposition of an Islamic financial institution—positioned as an alternative to conventional banking—stems from its adherence to core Shariah principles and prohibitions. These guidelines govern commercial transactions with a strong focus on ethics, justice, eliminating uncertainty, avoiding exploitation, and ensuring fairness in every financial activity. The Shariah Control, Compliance, and Audit (SCCA) framework is designed to confirm that all products, services, processes, operations, features, and transactions fully comply with these Shariah standards.
For professionals within these institutions, it is essential to have a clear and thorough understanding of SCCA requirements. This ensures that all activities remain in strict alignment with Shariah principles through the implementation of effective safeguards. Moreover, any discrepancies or violations must be swiftly identified and remedied. Regular, comprehensive audits are also critical to evaluate the institution’s overall adherence to Shariah standards, confirm that any issues are promptly addressed, and maintain robust internal controls.
This practical and interactive training program offers participants a solid grounding in the concepts of SCCA. Through engaging discussions, practical examples, and hands-on exercises, attendees will develop a deep understanding of how to implement, monitor, and maintain Shariah compliance effectively across all facets of their financial operations.
Key Learning Objectives and Takeaways:- This intensive 2-day course is designed to provide participants with a clear and practical understanding of the Shariah Control, Compliance, and Audit (SCCA) framework as applied within Islamic financial institutions. By the end of the program, participants will be able to:
- Explain the structure and sequential processes involved in SCCA, including how each component—compliance, control, and audit—functions within an Islamic financial institution.
- Identify common challenges, risks, and areas for improvement in Shariah compliance and audit practices, both generally and within specific organizational contexts.
- Gain familiarity with key standards and regulatory frameworks relevant to SCCA, including:
- AAOIFI Shariah Standards
- AAOIFI Accounting and Auditing Standards
- AAOIFI Governance Standards
- AAOIFI Code of Ethics
- IFSB standards and guidelines
- IFRS (formerly IAS)
- Recognize the role and importance of these standards in ensuring effective Shariah compliance, governance, and audit within financial institutions.
- Analyze and discuss how variations in Shariah interpretations across different jurisdictions impact compliance practices and operational strategies.
- Understand the fundamentals of an effective Shariah audit function, including audit planning, execution, reporting, and follow-up procedures.
Fee per participant: RM5,250/US$1,350
Please note that the Ringgit price is applicable to Malaysia-domiciled participants only. Discounts are available for group bookings. Please contact us for more details.
If you are looking for an in-house training program or wish to send a group to an existing public program, kindly please contact Andrew Tebbutt at [email protected] or +603 2162 7802.
Learn More
AGENDA
9.00am to 5.00pm
Day One: Understanding Shariah Control, Compliance, and Audit (SCCA)
Building Practical Expertise in Ensuring Shariah Integrity in Islamic Financial Operations
Session 1: Introduction to SCCA – Foundations for Ethical Financial Governance
- Gain a comprehensive overview of the SCCA framework and its vital role in Islamic financial institutions
- Understand the ethical and operational significance of Shariah compliance in all areas of financial activity
Session 2: Implementing and Sustaining Shariah Compliance in Daily Operations
- Learn practical steps to achieve initial Shariah compliance during product development and approval
- Explore how to maintain compliance across operations, systems, and staff actions
- Understand procedures for identifying and rectifying non-compliant practices effectively
Session 3: Roles and Responsibilities – Who Ensures Shariah Compliance?
- Identify and understand the roles of key stakeholders in the SCCA process, including:
- Shariah boards
- Compliance teams
- Internal audit functions
- Regulators and standard-setting bodies
- Discover how coordinated roles ensure consistent compliance and governance
Session 4: End-to-End Shariah Compliance in Product Lifecycle
- Step-by-step breakdown of the Shariah ratification process for financial products
- Understand jurisdictional differences in rulings and how to navigate them
- Explore types of Shariah compliance required for various financial products and services
Session 5: Institutional Systems Supporting Shariah Compliance
- Learn how contract structuring, documentation, and workflow align with Shariah principles
- Understand how core banking systems and IT infrastructure can be leveraged to support compliance
- Discover best practices in system design to prevent and detect non-compliant transactions
Session 6: Real-World Application – Case Studies and Practical Insights
- Analyze and discuss real-life examples of Shariah product approvals
- Case Study 1: Approval process for a simple product
- Case Study 2: In-depth look at a more complex product approval involving multiple steps and stakeholders
- Learn how institutions solve challenges and ensure Shariah alignment through practical strategies
9.00am to 5.00pm
Day Two: Strengthening Shariah Compliance and Audit Practices in Islamic Finance
Ensuring Integrity, Transparency, and Accountability Across Islamic Financial Operations
Session 1: Fatwas as the Foundation of Shariah Compliance
- The decisive role of Fatwas in validating Islamic financial products
- How to interpret, apply, and align Fatwas with evolving product innovation
- The benefits of Fatwa standardization for operational clarity and consistency
- Leveraging Fatwas to support Shariah audit and governance efforts
Session 2: Building Strong Shariah Compliance in Operations
- Step-by-step compliance procedures to ensure product integrity
- Tools and techniques for implementing effective compliance checks and controls
- Practical examples of reporting workflows that strengthen institutional Shariah assurance
Session 3: Rectification and Continuous Improvement
- How to identify, document, and respond to Shariah non-compliance
- Strategies for corrective actions that restore compliance without business disruption
- Embedding rectification into long-term institutional resilience
Session 4: Optimizing the Shariah Audit Function
- Understanding the Shariah auditor’s responsibilities and value
- Insights into designing and executing effective audit procedures
- Guidance on handling non-compliance, issuing audit reports, and ensuring accountability
- Real-life case studies offering practical audit insights and lessons learned
Session 5: Applying Global Standards and Strengthening Governance
- Key international standards (AAOIFI, IFSB, IFRS/IAS) and their practical implications
- Developing a harmonized reporting approach across jurisdictions
- Enhancing governance structures for better oversight and investor confidence
Session 6: Addressing Broader Shariah Governance Issues
- Managing Zakat obligations and social finance commitments effectively
- Upholding Shariah values in investment decisions and operational ethics
- Ensuring balanced governance that protects all stakeholders: shareholders, depositors, and customers
Session 7: Institutionalizing Shariah Compliance Across the Organization
- Training and empowering staff at all levels to uphold Shariah values
- Delivering customer service that reflects Islamic ethical principles
- Aligning institutional direction, leadership, and strategy with Shariah objectives
- Addressing gaps between theoretical frameworks and on-the-ground implementation
EXPERT COURSE DIRECTOR
Dr Salman Khan
Former Head of Shariah Office (Dubai & the Northern Emirates), Abu Dhabi Islamic Bank
Dr. Salman Khan is a seasoned expert in Islamic finance, with over 18 years of experience spanning strategic, regulatory, advisory, and technical roles across banking, capital markets, and economic policy. His work has bridged institutions, regions, and disciplines—making him a uniquely qualified guide for advanced Islamic finance training. Dr. Khan holds a DPhil in Economics from Oxford University, an MPhil in Development Studies from Cambridge University, and a BSc (Hons) in Economics from University College London (UCL). Dr Khan spent seven years as Head of the Shariah Office at a major UAE bank, where he led the Shariah review of legal documentation across a wide spectrum of Islamic retail, commercial, and corporate products. He was also an integral member of the capital markets structuring and execution team, contributing to high-profile transactions in the GCC, Europe, and Asia. Dr. Khan later served as Senior Advisor to the Executive President of the Financial Services Authority in Oman, the country’s apex regulator for capital markets and insurance. His role focused on regulatory reform, capital market development, corporate taxation, and economic policy. Notably, he led a strategic initiative on financial passporting and economic integration across the GCC, delivering a comprehensive concept paper and action plan widely commended by member states. As a consultant and trainer, Dr. Khan has worked with leading organizations including the World Bank, Arab Monetary Fund, UKIFC, Institute of Islamic Banking & Insurance (UK), IFN/REDmoney, and Euromoney, in addition to advising multiple government bodies in the developing world on Islamic finance and economic development.
Who Will Benefit?
- This program is designed for professionals across the Islamic finance ecosystem who are directly involved in ensuring Shariah compliance, managing risk, and enhancing governance standards, including:
- Senior executives and decision-makers (CEOs, CFOs, CROs)
- Shariah compliance officers, consultants, and control function teams
- Shariah auditors and internal audit professionals
- Risk management specialists within Islamic financial institutions
- Product developers and structurers working on Shariah-compliant offerings
- Retail, corporate, and commercial banking professionals
- Compliance officers and assurance professionals
- Experts in ethics, corporate governance, and ESG integration
- Central bank officials, regulators, and supervisory authorities
For enquiries please contact:
Normariya Sariman
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 44
Ramesh Kalimuthu
Events Sales Director
[email protected]
Direct Line: +603 2162 7800 ext 65
Fax: +603 2162 7810
For sponsorship & speaking opportunities:
Andrew Tebbutt
Managing Director
[email protected]
Direct Line: +603 2162 7802
For marketing and media enquiries
Govina Selvanthran
Marketing Manager
[email protected]
Direct Line: +603 2162 7800 ext 22