The importance of control and compliance with the legal and regulatory framework for the business environment of Islamic financial industry products in Algeria

Abstract

This study aims to test The importance of control and compliance with the legal and regulatory framework for the business environment of Islamic financial industry products in Algeria - the case of Al Salam Bank, through analysis the interaction of the regulatory framework with the business environment and the importance of strengthening it with special provisions for accounting and auditing, In addition to focusing on the role of the Shari’ah Supervisory Board in monitoring compliance with Shari’ah provisions. The result showed that showed a negative interaction of the legal and regulatory framework with the business environment, As well as the emergence of a need to adopt special provisions for accounting and auditing in line with the needs of the products of the Islamic financial industry, In addition to the importance of the role played by the Shari’ah Supervisory Board in monitoring compliance with the provisions of Islamic Shari’ah, Where is compliance with these provisions considered one of the most important risks and difficulties facing this industry