Essay on Shariah Governance Framework

10998 Words Oct 9th, 2015 44 Pages
TABLE OF CONTENTS
PART 1: OVERVIEW ................................................................................................................. 1
1.

Introduction............................................................................................................................ 1

2.

Objectives .............................................................................................................................. 2

3.

Scope of Application ............................................................................................................ 2

4.

Legal Provision...................................................................................................................... 3

5.
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23 - 25
(iii) Shariah Risk Management........................................................................................ 25 - 26
(iv) Shariah Research....................................................................................................... 26 - 27

APPENDICES ...........................................................................................................................28
Appendix 1: List of Related Guidelines.................................................................................. 28
Appendix 2: ‘Fit & Proper’ Criteria (person) of the Shariah Committee.................... 29 - 32
Appendix 3: Shariah Committee’s Report ............................................................................. 33
Appendix 4: Duties, Responsibilities & Accountability of the Shariah Committee.. 34 - 35
Appendix 5: Operation Procedures for the Shariah Committee ................................ 36 - 37
Appendix 6: Secretariat of the Shariah Advisory Council (SAC) ....................................... 38
Appendix 7: Product Development Process ................................................................. 39 - 40
Appendix 8: Application Form of the Shariah Committee........................................... 41 - 48

BNM/RH/GL_012_3

Islamic Banking and Takaful
Department

Shariah Governance Framework for
Islamic Financial Institutions

Page
1/48

PART 1: OVERVIEW
1.

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