CICAFFI is the Comité Indépendant de Certification, Audit et Formation en Finance Islamique (Independent Committee for Certification, Audit, and Training in Islamic Finance). We assist financial institutions, companies, and project owners in the design, structuring, validation, and monitoring of solutions that comply with the principles of Islamic finance.
An Independent Committee Dedicated to Islamic Finance
Drawing on the experience acquired by its experts since 2010, CICAFFI brings together specialists in Islamic finance jurisprudence, finance professionals, and legal experts specialising in French law.
Three Core Principles
Our Guiding Principles
Promoting responsible and transparent finance, rooted in the real economy and aligned with Shari'ah principles.
An independent Shari'ah Board, free from ownership interests in the organisations it advises or audits, ensures objective assessments.
Bringing together the expertise of Shari'ah jurists, financial professionals, and lawyers to deliver rigorous advice tailored to the French and European context.
This multidisciplinary approach enables each project to be assessed holistically, including its compliance with Shari'ah principles, economic soundness, contractual documentation, cash-flow arrangements, and compatibility with the French legal framework.
Have Your Product’s Shari'ah Compliance Recognised
We examine the contractual documentation, financial mechanisms, cash flows, and governance arrangements of your product. Following this assessment, the Shari'ah Board issues a reasoned Shari'ah opinion and may issue a Shari'ah compliance certificate.
Monitoring and Maintaining Shari'ah Compliance Over Time
We monitor ongoing compliance with the conditions on which certification was granted. The audit identifies any instances of non-compliance and outlines the corrective measures required.
We offer tailored training for professionals, institutions, and project sponsors, covering the principles of Islamic finance, the jurisprudence of financial transactions, and contracts and structures tailored to the French market.
Our consultations provide a tailored assessment of a specific issue, identify key Shari'ah compliance considerations, and determine the approach best suited to your project. They may also be used in the context of a dispute relating to a financial transaction, investment, or partnership, to assess the situation, clarify the parties' respective commitments, and support the development of a solution aligned with Shari'ah principles.
The Essential Support Package provides entrepreneurs and small organisations with an accessible, structured approach to assessing early-stage projects and receiving tailored recommendations.
To ensure the quality and relevance of its Shari'ah opinions, CICAFFI draws on three complementary areas of expertise. Each project is assessed from Shari'ah, financial, legal, and operational perspectives.
Whether you require Shari'ah certification, a Shari'ah compliance audit, training, consultation, or support, our team will review your request and guide you towards the most appropriate next steps. We will respond within 10 business days.
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