The reality of Sharia supervision and auditing in the Islamic windows of traditional banks in Algeria

Abstract

This study aimed to understand the mechanisms of Sharia supervision and auditing in Islamic windows of conventional banks in Algeria. The descriptive analytical approach was adopted to examine the mechanisms of Sharia supervision and auditing.

In conclusion, the Sharia Supervisory Board in the Housing Bank issues fatwas following the National Fatwa Authority for Islamic Financial Industry, which emanates from the Supreme Islamic Council for Fatwa. We also concluded that the importance of having a Sharia auditor in the bank is no less significant than having a Sharia Supervisory Board. Therefore, appointing a Sharia auditor alongside the Sharia Supervisory Board is necessary, while granting them full independence.