How does OFFA ensure its finance products meet ethical standards?

We have a Sharia Supervisory Board (SSB), which comprise of qualified ethical and Islamic Finance experts and scholars. The SSB remains independent from the business, but are active in overseeing and monitoring our operations. We are also regularly audited by SSB appointed auditors. The auditors regularly engage in gathering evidence, performing in-depth analysis, and reporting their findings to the SSB. They have complete and full access to all our systems, employees, and any transaction-related documentation. 

In some instances, the requirements of Sharia exceed those set by industry bodies. This is visible in areas such as ESG (Environment, Social and Governance), where we cannot obtain Sharia accreditation unless we fulfil a variety of ethical criteria, while for many conventional lenders these remain voluntary acts.