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Barclays la riba passes shariah audit barclays bank flagship shariah compliant account la riba has for the second year running passed the audit by the shariah advisory board which confirmed compliance with islamic law. The board reviewed the accounts presented against the requirements of the shariah, covering customer deposits, funds management, investment programs and contracts. The search entailed an extensive review of all aspects of the islamic accounts, la riba and the new alwahda account which was also sanctioned by the five member board. The board reiterated that since it was put in place, barclays bank has shown strong commitment to comply with the shariah requirements. “we adhere to the international financial reporting standards and the accounting and auditing organisation for islamic financial institutions (aaoifi) standards required for islamic banks. We follow a robust shariah process and governance framework that ensures compliance,” omar sheikh, the head of the islamic banking division said. Members of the board are sheikh hammad muhammad kassim, the chief kadhi of kenya, sheikh khalfan khamis, the chairman of majlis ulamaa kenya, sheikh ahmed msallam, the country director of world muslim league and jurists sheikh abdi sheikh yakub and sheikh muhammad haji osman alasow.