The Central Bank of Kuwait (CBK) is committed to strengthening the governance of Shari’ah compliance oversight in Islamic banks in Kuwait. As part of its ongoing efforts to establish solid foundations for Shari’ah auditing in these institutions, the CBK announces the launch of the third round of the Certified Shari’ah Auditor Certificate Program, one of the flagship programs under the Kafa’a (Proficiency) initiative. This initiative is implemented by the CBK in collaboration with Kuwaiti banks and managed by Kuwait Institute of Banking Studies (KIBS) .
This was stated by Dr. Mohammad Y. Al-Hashel, Governor of the Central Bank of Kuwait and Chairman of the Board of KIBS. He emphasized the importance of Shari’ah auditing as a core function of Shari’ah oversight and governance—particularly given the ongoing transformations in the Islamic banking sector and the financial industry at large.
Dr. Al-Hashel noted that the CBK had conducted a study to assess the availability and qualifications of Shari’ah auditors in the Kuwaiti market. The study revealed both a shortage of qualified personnel and a need for current practitioners to further enhance their knowledge and professional capabilities. As a result, the CBK sees it as essential to intensify efforts and initiatives aimed at building a stronger pool of skilled Shari’ah auditors in Kuwait.
He further highlighted that the first and second rounds of the program saw strong participation, resulting in the graduation of 59 certified Shari’ah auditors, all of whom met the rigorous requirements necessary to obtain the certificate. This certification has become mandatory for practicing Shari’ah auditing in Islamic banking and financial institutions.
The Governor added that developing qualified human resources with technical and professional expertise in both internal and external Shari’ah oversight of Islamic banking operations is a key strategic direction for the CBK. This aligns with the Bank’s broader objective of supplying the Kuwaiti financial and banking sector with highly skilled talent. By doing so, the CBK aims to foster the continued advancement and leadership of Kuwait’s banking industry—especially in Islamic finance. He emphasized the importance of national talent remaining committed to lifelong learning, skill enhancement, and adopting a future-focused mindset to maintain Kuwait’s leadership in Islamic banking.
The CBK had previously issued its instructions on December 20, 2016, regarding “Shari’ah Governance in Kuwaiti Islamic Banks,” which laid out a comprehensive framework for the governance of Shari’ah oversight. This included the general requirements for Shari’ah governance, roles of the board of directors, executive management, and the Shari’ah supervisory board, as well as internal and external Shari’ah auditing, scope and objectives of such audits, and the qualifications necessary for auditors. Obtaining the Certified Shari’ah Auditor Certificate is a mandatory requirement for institutions under the supervision of the CBK and the Capital Markets Authority, provided they operate in accordance with Islamic Shari’ah.
In conclusion, Dr. Al-Hashel highlighted the key features of this certification, noting its strong focus on practical application in the field of Shari’ah auditing. Half of the program’s time is dedicated to the procedures and practices of Shari’ah audits, while the other half is focused on foundational knowledge and Shari’ah standards specific to the Islamic financial industry. The program was developed based on global best practices and the latest academic content. The certificate is officially recognized by the Central Bank of Kuwait, the Capital Markets Authority, and the Kuwait Center for Islamic Economy.
