Bingöl Üniversitesi İlahiyat Fakültesi Dergisi

Öz

There are basically two models for auditing the Sharia compliance of Islamic finance products: Internal audit and central audit. While internal audit is the audit model established by each bank, central audit refers to the model established independently of the banks. Despite the shortcomings in the applications, it can be said that the central audit model is more suitable in terms of impartiality and transparency. However, the development of criteria that will facilitate auditing can facilitate faster and more effective auditing. In this study, the Mudaraba Contract Customer Information Forms of seven participation banks operating in Türkiye were examined in terms of Sharia compliance within the framework of external auditing using a benchmark developed in the context of external auditing. Within the scope of the research, the explanations in the relevant forms were compared with the determined criteria. According to the findings obtained, a total of four articles were determined to be invalid and defective for all seven banks. It was observed that the articles deemed invalid contained formal non-compliance and there was no violation in terms of substance. It can be said that the violation in question can be eliminated with minor changes to be made in these articles. In one article, validity was determined for four banks and defects were determined for two banks. The deficiency in the bank forms where defects were determined does not exist in practice and indicates a formal defect. These results show that there are formal problems in the examined forms and that it is possible to ensure Sharia compliance with minor changes/additions. In addition, sharing the Mudaraba contracts of participation banks with the public in a standard form that does not include customers' private information instead of a customer information form can contribute to transparency. Because customer information forms contain ambiguous expressions and summary information. In addition, only the expressions in the customer information forms were examined in the context of the relevant criterion in this study. However, the extent to which the expressions in the customer information forms are applied in practice requires a separate examination due to Sharia auditing problems and is beyond the limits of this article.The findings indicate the presence of formal issues within the examined forms, yet they also suggest that Sharia compliance can be achieved with minor modifications or additions. Furthermore, disseminating Mudaraba contracts from participation banks to the public in a standardized format, which excludes customers' private information, rather than using a customer information form, could enhance transparency. This is because customer information forms often contain ambiguous expressions and summary information. Additionally, this study only analyzed the expressions within customer information forms in relation to the relevant criterion. However, the practical application of these expressions necessitates further investigation due to challenges in Sharia auditing, which falls outside the scope of this article.