✔ A compliance assessment -similar to that done in the compliance assessment stage- is conducted by ATIP’s Assessment Team that is specialized in the industry of the client. The goal of this assessment is to determine the level of compliance of the business across a group of pre-defined criteria and evaluate the business’s eligibility to be granted the certificate.
✔ A comprehensive report is prepared by the team indicating the compliance (or the lack thereof) of the business for each of the required criteria. The Sharia Advisory Council is consulted in the case when there is an aspect of the business for which no clear compliance requirements have been defined.
✔ In case of product and the transactions sectors, once the report that shows compliance with all relevant certification requirements is issued, the business is granted the Certification Agreement for the product/transaction.
✔ The certification agreement certifies that the business meets the certification requirements of ATIP and allows the business to place the trademarked Ⓗ™ brand on their product or publish an equivalent notation of its ATIP Compliance Star Grade for its servicing entity on all applicable media.
✔ Additionally, the agreement details a validity period for the agreement, necessitating a renewal of the service through an audit after its expiration.
✔ Finally, the agreement details the conditions that would render the agreement void if the business does not adhere to pre-specified requirements during the period of coverage/validity.
✔ Compliance Report
✔ Circle H (Ⓗ™) Certification Agreement