KUWAIT: The Institute of Banking Studies (IBS) honored 10 Kuwait Finance House (KFH) employees in appreciation of their obtaining the 'Certified Sharia Auditor' certificate, which is one of the 'Kafaa' (Arabic for competence) initiative programs officially launched by the Central Bank of Kuwait in collaboration with Kuwaiti banks and the management of the Institute of Banking Studies.

This comes within the framework of striving to strengthen the governance of Sharia supervision work in Islamic banks in Kuwait and to consolidate the foundations for Sharia audit in work. During his speech at the honoring ceremony held at the IBS, the Director General of the Institute of Banking Studies, Dr Yaqoub S Y Al-Refaei, stressed the importance of this program, indicating that the Certified Sharia Auditor is accredited by the Central Bank of Kuwait, the Capital Markets Authority, and the Kuwait Center for Islamic Economy.

Refaei congratulated the graduates for successfully completing the program, praising their efforts and dedication during the program offered by the Institute of Banking Studies, and appreciating the efforts of the Central Bank of Kuwait and the collaboration of Kuwaiti banks in this regard.

KFH is proud of the competence and capabilities of its Sharia auditors, as they completed the 'Certified Sharia Auditor' program within one year only, despite the circular of the Central Bank for Kuwaiti Islamic banks in 2019 stipulating that a 'Certified Sharia Auditor' certificate must be obtained within two years from the date of the circular.

KFH commends the instructions and controls issued by the Central Bank of Kuwait regarding the importance of the availability of Sharia auditors in the Kuwaiti market and their scientific and professional qualification, in addition to the professional and organizational standards for the work of legitimate observers and the requirements of governance.

The emphasis was on the importance of the program in strengthening the role of Sharia auditors in KFH in following up on business and activities in all the fields and departments and the extent of their compliance with Sharia provisions, rules and applications within the multiplicity and diversity of KFH products and services and the growth of its business volume in the local, regional and global markets.

The holders of the 'Certified Sharia Auditor' certificate are: Essa Abdullah Al-Duwaishan, Abdulrahman Abdullah Al-Matooq, Ahmed Bader Al-Awadhi, Dawood Sami Al-Jarrah, Mohammad AbdulHakim Siddiq, Abdullah Raed Al-Huzaimi, Abdulrahman Jassim Al-Mesbah, Mohammad Noor Abdullah, Fahad Ahmad Al-Mousa, and Fatma Jasem Al-Yaseen.