Compliance in the Islamic financial institutions and its relationship with the risks

Abstract

This research deals with two components. The first component addresses the clarification of the compliance in the Islamic financial institutions and the statement of its legitimacy and how important it is to the Islamic banks. The concept of non-compliance risk with its forensic types, its role and relationship to the dangerous effects of drug abuse, and the reputation of the bank and its relationship towards fighting against money laundering in Islamic banks. The regulators need to achieve legitimate compliance in accordance to its requirements of the implementation in the Islamic banks (Islamic Sharia). The research also shows the extent of the need for these regulators to achieve compliance with their legitimate oversight to avoid any risks that might cause it.