What are the three types of Shariah Non-Compliance (SNC)Risk?

which of the following scenarios represents a potentialincident of Sharīʻah non-compliance in a murābaḥah-based transaction?

A) The parties to the contract are ineligible to execute it.

B) The asset is sold to a customer before the bank purchases it from the developer.

C) The original price or markup has not been disclosed to the customer.

D) The disclosed price and/or markup does not reflect the actual cost price and/or markup.

E) The asset transacted, or the collateral used, is Sharīʻah non-compliant.

F) The appointment of an agent is not stated in the legal documentation (no wakālah agreement) in the event that the bank appoints thecustomer as an agent to purchase the asset on behalf of the bank before the bank sells it to the customer.

G) The form setting out the appointment of an agent is notcompleted and signed.

H) A customer has purchased the asset from the developer andentered into a murābaḥah arrangement with the bank to purchase the same assetfrom the bank without prior termination of the first sale contract.

I) Restructuring takes place without a new contract beingexecuted.

According to IFSB, what is one of the expectations from Islamic banks to manage Shariah Non-Compliance Risk?

What are the potential consequences for Islamic banks that fail to comply with Shariah rules and principles?

In a Murābaḥah contract, what is an example of Shariah Non-Compliance risk?

In a Tawarruq-based transaction, what is an example of Shariah Non-Compliance risk?

What is a potential Shariah Non-Compliance risk in an Istiṣnāʻ contract?

In an Ijarah contract, what could lead to Shariah Non-Compliance risk?

What potential Shariah Non-Compliance risk is mentioned for a Musharakah contract based on AAOIFI Shariah standards?

Which type of Shariah Non-Compliance risk involves the invalidation of contracts and non-recognition of income?

What does Maqasid Shariah aim to achieve in transactions?

What is the purpose of maintaining an adequate system and control for Islamic banks, according to IFSB?

How can Shariah Non-Compliance affect an Islamic bank's reputation?

In a Tawarruq-based transaction, what potential risk is related to the commodity used?

Which contract type could potentially lead to a Shariah Non-Compliance risk related to an unspecified price at the time of execution?