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How does Hejaz Finance ensure its activities are Sharia compliant?

By following Islamic finance principles laid down in Sharia, Islamic law. To ensure the rules are followed as closely as possible, Hejaz Finance has an Internal Sharia Compliance Officer (ISCO) and a separate independent body called the Global Islamic Financial Services Council (GIFS).

GIFS is comprised of Islamic scholars and experts in the interpretation of Islamic law and its application within modern day Islamic financial institutions. The ISCO is also trained to the highest standards, set down by The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). It is recognised as the highest Sharia compliance standard in the Islamic finance industry. The combined works of the GIFS and the ISCO ensure that both the Hejaz Finance’s products and its activities comply with Islamic rules at all times.

Updated on May 14, 2022

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