The Internal Shari’a Supervisory Committee (ISSC)
The Internal Shari’a Supervisory Committee ensures all the transactions and products in Aafaq Islamic Finance are compliant with Sharia principles in all its activities, objectives, operations and code of conduct. ISSC in Aafaq is comprised with UAE’s top shariah scholars, Islamic finance lawyers and Fiqh Muamalat experts.
Internal Shari’a Department in Aafaq Islamic Finance has a key role in controlling and auditing all activities and operations performed by Aafaq to ensure alignment with regulations issued by the Higher Shari’a Authority (HSA), and the standards of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). The Department relies on its Fatwas and consultations of the Internal Shari’a Supervisory Committee (ISSC).