Transcription of Shariah Governance - BNM
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Shariah Governance - BNM
Issued on: 20 September 2019 BNM/RH/PD 028-100 Shariah Governance Applicable to: 1. Licensed islamic banks 2. Licensed takaful operators including professional retakaful operators 3. Licensed banks and licensed investment banks approved to carry on islamic banking business 4. Prescribed development financial institutions approved to carry on islamic financial business 5. Shariah committee members Shariah Governance TABLE OF CONTENTS PART A OVERVIEW .. 1 1 Introduction .. 1 2 Applicability .. 1 3 Legal 2 4 Effective date .. 2 5 Interpretation .. 2 6 Related legal instruments and policy documents .. 3 7 Policy documents superseded .. 4 PART B THE BOARD .. 5 8 Key responsibilities.
developments of the Islamic finance industry in Malaysia. In particular, the framework has led to the institutionalisation of governance structures, policies and processes to promote end-to-end Shariah compliance in Islamic finance operations. 1.3 The requirements in this policy document outline the Bank’s strengthened
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