Virtual On Boarding Day 2

Section 28 of the Islamic financial services Act 2013, on Shariah Compliance provides:

An institution shall at all times endure that its aims and operations business, affairs and activities are in compliance with syariah.

• True

• False

All stated below are applications of Shariah in Bank Islam except:

• The faith ('aqidah) of the Bank's Personnel

• Products and Services of the Bank

• Activities of the Bank's Personnel

• Operational Risk

ERU, BRO,SROs and RCs1 are NOT appointed to assist in driving the risk and control programmers within their Division/Department.

• True

• False

How many lines of defence are there for strategy in managing operational risk?

• 4

• 3

• 1

• 2

How to defend the 'person' from the liability?

The person proves offence was committed without his consent or connivance and he had exercised due diligence to prevent the corrupt practice as he ought to have exercised in regards to his function and circumstances.

• True

• False

Find 4 employee risk exposure

• Negligence

• Unauthorized Disclosure

• Undertake Control Measure

• Incompetency

• Breach Bank's Code of Ethics

What are the 2 key functions for special investigation unit?

• Complaints Management and Administration

• Integrity Reinforcement

• Detection and Authentication

• Governance

Any paid holidays which includes transportation, accommodation or holiday package are examples of non permissible gifts in Bank Islam.

• True

• False

Any types of electronic items or IT gadgets which include laptop, computer, smartphone and etc. are examples of permissible gifts in Bank Islam

• True

• False

Credit Risk is a potential risk that a bank borrower or counter party will fail to meet its obligations in accordance with agreement. In short, credit risk involves uncertainty.

• True

• False