Professional Certificate in Shariah Audit & Governance (PCSAG)

Shariah Audit, Shariah Governance

About this course

The certificate course is designed to equip candidates with the requisite technical understanding and professional skills in Shariah compliance audit and review processes for the Islamic banking and finance industry. This course will offer an overview of the Shariah framework for Islamic Banking in Bangladesh and other major countries.
Title Details
Frequency Once a week
Methods Lecture, Group Discussion, Self-reflection, and Case Study
Class Type On Campus and online (Hybrid mode)
Evaluation Method Quiz, Mock test, Presentation, Creative Assignments, Final exam
Course instructor
Dr Md. Golzare Nabi, Md. Atiqur Rahman Khan Khadem, CERM, CSAA, Mezbah Uddin Ahmed FCCA, CIPA, CSAA, Abdullah Sharif, A K M Mizanur Rahman

Who this course is for

  • Probationary Officer
  • Junior Officer
  • Senior Principal Officer or Equivalent Officer

Materials included

  • Kamali, H. M (2008). Shariah Law: An Introduction, One World Publications, UK.
  • Saleem, M. Y. (2012). Islamic Commercial Law. John Wiley & Sons.
  • Ahmed, A. M. E. T. (2010). Islamic banking: How to manage risk and improve profitability (Vol. 640). John Wiley & Sons.
  • Perves, M. M. (2015). The legal and regulatory framework the in Islamic banking system: Bangladesh perspective. European Journal of Business and Management, 7(21), 179-188.
  • Other referred journal articles suggested by Faculties.

What you will learn

  • Apply the technical review of banking and financial operations to determine Shariah compliance.
  • Apply the roles and functions of various Shariah compliance and review processes in Islamic financial institutions.
  • To apply the relevant control mechanisms in ensuring Shariah compliance in accordance with the applicable standards and requirements.
  • Comprehend the scope, procedures and potential issues in developing Shariah audit programmes.
  • Assess and communicate effectively audit results to relevant stakeholders.

Course content

6 modules · 15 topics

Module 1: Fundamentals of Shariah for Islamic Finance 2
  1. Module 1: Fundamentals of Shariah for Islamic Finance
  2. Assist in the application of Shariah in Islamic finance.
Module 2: Fundamentals of Governance and Auditing 2
  1. Provide the basic knowledge to the participants on auditing.
  2. Learning the skills required of an auditor, audit methodologies, sampling considerations, and quality assurance review.
Module 3: Accounting and Reporting for Islamic Financial Transactions 2
  1. Explain to the participants on accounting and reporting for Islamic Financial transactions.
  2. Exposes the participants to the fundamentals of accounting and reporting for transactions adopted in Islamic banking, takaful, and Islamic capital markets according to IFRS and AAOIFI standards.
Module 4: Shariah Risk Management and Internal Control 3
  1. Engage the participants on critical areas in Shariah risk management in IFIs.
  2. The module highlights the significance of Shariah risk management in IFIs, within the Shariah risk management framework.
  3. The participants will be trained on Shariah risk identification and how to manage the identified risk.
Module 5: Shariah Audit Planning and Programme 3
  1. This module discusses the Shariah audit process and program related to the IFIs based on the scope, plan, and processes involved.
  2. The implementation of the Shariah audit program on the operations of the IFIs is thoroughly discussed in the module.
  3. The module highlights the Shariah audit overall process that represents the Islamic banking, Takaful, and Islamic Capital market.
Module 6: Shariah Audit Fieldwork and Communication 3
  1. This module discusses the Shariah audit fieldwork and communications related to the IFIs.
  2. It describes the methods and principles of performing Shariah audit fieldwork.
  3. The module too, features Shariah audit communication elements to impart the skills to auditors to communicate the audit findings to the management and Board.