Shariah compliant company definition

Shariah compliant company means a company which is conducting its business according to the principles of Shariah;
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Shariah compliant company means a company as defined in the Act and which complies with these Regulations;
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Shariah compliant company means a company which is conducting its business according to the principles of Shariah and declared as such in accordance with the regulations
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Examples of Shariah compliant company in a sentence

  • This disclosure requirement is also shown in Table 2.1, wherein all the mandatory disclosure attributes are given.It is cleared from the prior studies concerning Shariah governance that Shariah advisor is the main figure within every Shariah compliant company who is supposed to ensure Shariah compliance in the company (Masruki, et al.

  • No company shall be called a Shariah compliant company or hold itself out as operating a Shariah compliant company or Islamic financial institution, by whatever name called, unless it obtains a Shariah compliance certificate from the Commission under these regulations.

  • Internal Shariah Audit: Every Shariah compliant company or company issuing a Shariah compliant security shall strengthen its internal audit department either by appointing an Internal Shariah Audit resource having relevant qualification or expertise in Islamic banking and finance or train at least one of its employees in the internal audit department for the purpose of Internal Shariah Audit from a reputable training institute.

  • Shariah Audit: (1) Every Shariah compliant company or company issuing a Shariah compliant security shall strengthen its internal audit department either by appointing an Internal Shariah Audit resource having relevant qualification or expertise in Islamic banking and finance or train at least one of its employees in the internal audit department for the purpose of Internal Shariah Audit from a reputable training institute.

  • A Shariah compliant company or a company issuing Shariah compliant security shall be subject to such fees as provided in Schedule - I of these regulations.

  • A Shariah compliant company or a company intending to issue a Shariah compliant security shall appoint a Shariah Advisor on the terms and conditions as it may deem fit who shall report to the board of directors.

  • Shariah compliance certificate: (1) A Shariah compliant company or a company issuing Shariah compliant security may voluntarily surrender its Shariah compliance certificate to the Commission.

  • A Shariah compliant company or company issuing a Shariah compliant security shall ensure that its constitutive documents state that its core business does not violate any principle of the Shariah.

  • External Audit: Every Shariah compliant company and company issuing Shariah compliant security shall be subject to external Shariah Audit for every financial year which may be undertaken by the existing external auditors or an independent External Shariah Auditor.

  • Where a Shariah compliance certificate issued to a Shariah compliant company or to a Shariah compliant security, as the case may be, has expired, been surrendered or cancelled, the Commission shall remove the name from the register of Shariah compliant companies and Shariah compliant securities and from the Commission’s website, and the company or security shall cease to be Shariah compliant.


More Definitions of Shariah compliant company

Shariah compliant company means a company as defined in clause (64) of sub- section (1) of section 2 of the Act and declared as a Shariah compliant company under sub-section (1) of section 451 of the Act and these regulations;
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Related to Shariah compliant company

  • HIPAA Compliant means that a Loan Party to the extent legally required (i) is or will use commercially reasonable efforts to be in compliance in all material respects with each of the applicable requirements of the so-called “Administrative Simplification” provisions of HIPAA on and as of each date that any part thereof, or any final rule or regulation thereunder, becomes effective in accordance with its or their terms, as the case may be (each such date, a “HIPAA Compliance Date”) and (ii) is not and could not reasonably be expected to become, as of any date following any such HIPAA Compliance Date, the subject of any civil or criminal penalty, process, claim, action or proceeding, or any administrative or other regulatory review, survey, process or proceeding (other than routine surveys or reviews conducted by any government health plan or other accreditation entity) that could result in any of the foregoing or that has or could reasonably be expected to have a Material Adverse Effect.

  • Consultant Company means for an individual consultant, a company or partnership of which the individual is an employee, shareholder or partner;

  • SOX Compliant Entity means an entity that either is required to be compliant with, or voluntarily is compliant with, all of the following provisions of the Sarbanes-Oxley Act of 2002: (i) the preapproval requirements of Section 201 (Section 10A(i) of the Securities Exchange Act of 1934); (ii) the Audit committee independence requirements of Section 301 (Section 10A(m)(3) of the Securities Exchange Act of 1934); and (iii) the Internal control over financial reporting requirements of Section 404 (Item 308 of SEC Regulation S-K).

  • Social development company means a company whose primary purpose in Sudan is to provide humanitarian goods or services, including medicine or medical equipment, agricultural supplies or infrastructure, educational opportunities, journalism-related activities, information or information materials, spiritual-related activities, services of a purely clerical or reporting nature, food, clothing, or general consumer goods that are unrelated to oil-related activities, mineral extraction activities, or power production activities.

  • Relevant Company means VFVN, and any corporation or company derived from or resulting or surviving from the merger, consolidation, amalgamation, reconstruction or acquisition of VFVN with, into or by such other corporation or company, and any other entity, all or part of the share capital of which is, or all or some of the Securities are, at the relevant time included in the Exchange Property.

  • Millennium Compliant means: (i) the functions, calculations, and other computing processes of the Software (collectively, "Processes") perform in an accurate manner regardless of the date in time on which the Processes are actually performed and regardless of the date input to the Software, and whether or not the dates are affected by leap years; (ii) the Software can accept, store, sort, extract, sequence, and otherwise manipulate date inputs and date values, and return and display date values, in a materially accurate manner regardless of the dates used or format of the date input; (iii) the Software will function without interruptions caused by the date in time on which the Processes are actually performed or by the date input to the Software; (iv) the Software accepts and responds to four (4) digit year date input in a manner that resolves any material ambiguities as to the century in an accurate manner; and (v) the Software displays, prints and provides electronic output of date information in ways that are unambiguous as to the determination of the century.

  • UCITS management company means a management company as defined in Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS)1;

  • Drug-dependent person means a person who is using a

  • Capitol hill complex means the grounds and buildings within the area bounded by 300 North Street, Columbus Street, 500 North Street, and East Capitol Boulevard in Salt Lake City.

  • Management Company Employee means an individual employed by a Person providing management services to the Company which are required for the ongoing successful operation of the business enterprise of the Company, but excluding a Person engaged in Investor Relations Activities;

  • Asset Management Company means an asset Management Company as defined in the Rules and Regulations.

  • Solar alternative compliance payment or "SACP" means a

  • Licensed Independent Practitioner means any individual permitted by law and by the Medical Staff and Board to provide care and services without direction or supervision, within the scope of the individual’s license and consistent with individually granted clinical privileges.

  • Environmental Management Plan or “EMP” means the environmental management plan for the Project, including any update thereto, incorporated in the IEE;

  • Repeat compliance period means any subsequent compliance period after the initial compliance period.

  • Safety compliance facility means a licensee that is a commercial entity that receives marihuana from a marihuana facility or registered primary caregiver, tests it for contaminants and for tetrahydrocannabinol and other cannabinoids, returns the test results, and may return the marihuana to the marihuana facility.

  • Off-highway implement of husbandry means the same as that term is defined in Section 41-22-2.

  • Client company means any person that enters into an agreement for professional employer services

  • Sponsored captive insurance company means a captive insurance company:

  • Resort Complex means the hotel, convention centre/theatre restaurant, exhibition centre, recreation facilities and Burswood Casino to be constructed on the Site pursuant to and in accordance with the provisions of this Agreement and includes, if and when constructed, Stage 2;

  • Appraisal management company means, in connection with valuing properties collateralizing mortgage loans or mortgages incorporated into a securitization, any external third party that oversees a network or panel of more than fifteen certified or licensed appraisers in this state or twenty-five or more nationally within a given year, that is authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter or other principal in the secondary mortgage markets that engages in appraisal management services.

  • Tax Compliance Agreement means the Federal Tax Certificate, Tax Compliance Agreement, Arbitrage Agreement, or other written certification or agreement of the Issuer setting out representations and covenants for satisfying the post-issuance tax compliance requirements for the Tax-Exempt Bonds.

  • Covenant Compliance Event means, at any time, Availability is less than the greater of (i) ten percent (10%) of the Loan Cap and (ii) $15,000,000. The termination of a Covenant Compliance Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Covenant Compliance Event in the event that the conditions set forth in this definition again arise.

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund.

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • Processes with Significant Environmental Aspects means the Equipment which, during regular operation or if not properly operated or maintained, may cause or are likely to cause an adverse effect.