Each project is assessed by CICAFFI’s Shari’ah jurists, finance professionals, and French law specialists.
Where Shari’ah compliance is established, the Shari’ah Board issues a reasoned Shari’ah opinion and a Shari’ah compliance certificate valid for one year. The certificate may be renewed, subject to ongoing monitoring.
- 1. Defining the scope of the engagement
- 2. Gathering and reviewing the documentation
- 3. Shari’ah, financial, and legal analysis
- 4. Consultation with the project team and formulation of recommendations
- 5. Submission of the project to the Shari’ah Board
- 6. Issuance of a reasoned Shari’ah opinion and, where appropriate, a Shari’ah compliance certificate
Audits may form part of the annual monitoring of a Shari’ah-certified product or be conducted at the request of an organisation seeking an independent assessment of its practices.
Training can be delivered in person or remotely through courses, practical workshops, or bespoke sessions.
CICAFFI may also provide independent guidance where a dispute relates to a financial transaction, investment, contract, or partnership.
The consultation involves assessing the circumstances, relevant documentation, and the parties’ respective obligations in order to provide independent guidance consistent with Shari’ah principles.
Where appropriate, it may help clarify areas of disagreement and guide the parties towards a fair and Shari’ah-compliant solution.
Depending on the needs of the engagement, the conclusions may be provided orally or set out in a written note.
This package helps establish a sound foundation, address key issues at an early stage, and, where appropriate, prepare the project for a future Shari’ah certification process.
The Essential Support Package is an assessment and support engagement. It does not result in the issuance of a Shari’ah compliance certificate.
