Strengthening Credit Risk Governance and Risk-Based Internal Audit in Saudi Islamic Banks: A Framework for Sustainable Debt Financing under Vision 2030

Purpose: This review examines how credit risk governance and risk-based internal audit can jointly strengthen the quality, resilience and developmental contribution of debt financing in Saudi Islamic banks. The central argument is that effective oversight requires more than separate board, risk and Shariah compliance arrangements: it requires a traceable chain connecting financing decisions, forward-looking risk signals, independent assurance and corrective action. Design/Methodology: A structured critical integrative review synthesises 30 DOI-identifiable journal articles published during 2020–2025, selected for their relevance to Islamic banking, credit risk, governance, assurance and the Saudi or comparable regional context. Findings: Evidence favours a differentiated approach. Board and Shariah oversight are important, but their effects vary across institutional settings; independent audit is useful only when its remit, expertise, access and follow-up are credible. The proposed framework links risk appetite, transaction-level controls, portfolio surveillance, audit prioritisation and accountable remediation. Originality: Rather than treating governance and audit as parallel functions, this paper specifies their interfaces, evidential requirements and failure points across the financing life cycle. Implications: The framework offers Saudi banks a practicable basis for risk-sensitive financing expansion consistent with Vision 2030, without assuming that any single governance structure guarantees lower defaults. The review does not report original bank-level estimates; its propositions require future validation.