Retainer · Quarterly or monthly
Compliance that keeps pace with operations
Live products drift. We sample transactions, verify profit mechanics, and report findings so your Shariah and audit teams act before issues compound.
Sample
Transaction testing each cycle
Verify
Profit & allocation checks
Report
Written findings & actions
Advise
No enforcement powers
What we monitor
Inside each review cycle
- Contract execution vs approved structure — are real transactions following the nominated Aqad?
- Asset ownership and transfer timing for finance leases and Murabaha
- Profit rate application, rebates, and late-payment treatment
- Takaful contribution and tabarru allocations where applicable
- Customer disclosures and marketing vs approved Shariah opinion
- Third-party vendor or platform changes that affect Shariah risk
- Purification and charity routing for mixed-income products
- Exception logs — waivers, restructurings, write-offs
Cadence
Typical annual rhythm
Q1Scope & sampling plan
Q2Mid-year review
Q3Deep-dive product
Q4Annual summary
MONITORING NOTE (illustrative)
— 42 transactions sampled
— 2 operational variances flagged
— 0 structural breaches
— Remediation: update ops manual §4.2
— 42 transactions sampled
— 2 operational variances flagged
— 0 structural breaches
— Remediation: update ops manual §4.2
Deliverables
What lands on your desk
Reports are written for compliance, internal audit, and Shariah committees — factual observations, not regulatory filings.
Cycle reportMethodology, sample size, findings, severity, and recommended actions.
Management letterExecutive summary for leadership — no binding regulatory status.
Remediation trackerFollow-up on prior actions; we verify you implemented fixes.
We do not report you to regulators, suspend products, or instruct customers. Implementation of recommendations is entirely your institution's responsibility.
How is monitoring different from a product sign-off?
Sign-off is point-in-time at launch. Monitoring is recurring — it catches operational drift, system changes, and staff workarounds that creep in after go-live.
Do you need access to our core banking system?
We typically work from exports, redacted samples, and workshops you provide. We do not require live system access unless you explicitly arrange it under your IT policies.
Can this satisfy HKMA or overseas regulators?
We provide independent Shariah assurance documentation. Whether it meets a specific regulatory expectation is for your compliance team and external counsel to determine — we do not hold ourselves out as auditors or SFC-licensed advisers.
Need ongoing Shariah assurance?
Tell us your product book and preferred review frequency — we will propose a monitoring mandate.
