Our services

Expertise for Every Stage of Your Project

CICAFFI supports financial institutions, companies, investors, and project sponsors in the design, structuring, validation, and monitoring of Shari'ah-compliant financial solutions.

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Shari'ah Certification

Have Your Product’s Shari'ah Compliance Recognised

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Shari'ah Compliance Audit

Monitoring and Maintaining Shari'ah Compliance

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Training

Developing Your Team’s Capabilities

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Consultation

Expert Guidance on Specific Matters

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Essential Support Package

Practical Support for Small Organisations

Guidance

Which service should you choose?

Each request undergoes an initial review in order to define the most appropriate engagement, its scope, and its terms.

01.

Shari'ah Certification

Have Your Product’s Shari'ah Compliance Recognised

Shari'ah certification assesses whether a product, contract, or structure complies with Shari'ah principles. The assessment covers, in particular:

  • The nature, purpose, and economic substance of the product
  • The contractual documentation
  • Cash-flow arrangements
  • The rights and obligations of the parties
  • Governance arrangements
  • Practical arrangements for marketing and implementation

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.

Key Stages of the Certification Process

  1. 1. Defining the scope of the engagement
  2. 2. Gathering and reviewing the documentation
  3. 3. Shari’ah, financial, and legal analysis
  4. 4. Consultation with the project team and formulation of recommendations
  5. 5. Submission of the project to the Shari’ah Board
  6. 6. Issuance of a reasoned Shari’ah opinion and, where appropriate, a Shari’ah compliance certificate

02.

Shari'ah Compliance Audit

Monitoring and Maintaining Shari'ah Compliance Over Time

Shari'ah compliance does not end with the initial certification. It must be verified on an ongoing basis throughout the implementation of the product. The audit confirms that the conditions under which certification was granted continue to be met and that transactions are carried out in accordance with the approved documentation and arrangements. The scope of the engagement may include:

  • Reviewing updated contracts and documentation
  • Verifying transactions and cash flows
  • Assessing compliance with previous recommendations
  • Meeting with operational teams
  • Identifying any instances of non-compliance
  • Defining corrective measures
  • Submitting an audit report to the Shari'ah Board

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.

03.

Training

Developing Your Team’s Capabilities

CICAFFI provides Islamic finance training tailored to participants' level of knowledge, sector, and objectives. Programmes may cover:

  • The foundations of Islamic finance
  • The jurisprudence of financial transactions
  • The principal Islamic finance contracts and structures
  • Murabahah, Ijarah, Musharakah, and Mudarabah
  • Sukuk and investment structures
  • Takaful
  • Shari'ah compliance and audit methodology
  • Structuring transactions within the French legal framework

Training can be delivered in person or remotely through courses, practical workshops, or bespoke sessions.

04.

Consultation

Expert Guidance on a Specific Matter

A consultation provides an initial, independent assessment of a specific question before deciding whether a more in-depth engagement is required. It may be used to:

  • Assess the feasibility of a project
  • Identify key Shari'ah compliance considerations
  • Obtain an initial assessment of a contract or structure
  • Determine whether certification or a detailed assessment is required
  • Identify the course of action best suited to the situation

Consultation in the Context of a Dispute

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.

05.

Essential Support Package

Practical Support for Small Organisations

The Essential Support Package is designed for entrepreneurs, start-ups, and small organisations whose projects are at the design or launch stage. It provides a structured initial assessment without requiring an immediate commitment to a full Shari'ah certification process. The support may include:

  • An initial scoping meeting
  • An in-depth presentation of the project
  • A review of key documentation
  • Identification of sensitive issues
  • Initial Shari'ah compliance recommendations
  • A feedback session with the project sponsor

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.

Our services

Depending on the nature and stage of your project, CICAFFI can provide Shari'ah certification, Shari'ah compliance audits, tailored training, consultations, and practical support for small organisations.

Tell us about your project

Our team examines your request and replies within ten working days.

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