Shariah Committee

Shariah governance does not apply to Islamic financial institutions operating as a foreign branch in Malaysia.

• True

• False

To determine a Shariah qualified person, IFI must assess whether the person have a bachelor's degree in Shariah ?

• True

• False

Syariah Governance is issued according to?

• Islamic Financial Services Act 2013 (IFSA) and Financial Services Act 2013

• Islamic Financial Services Act 2013 (IFSA) and Development Financial Institutions Act 2012 (DFIA)

• Islamic Financial Services Act 2013 (IFSA) and Development Financial Institutions Act 2002 (DFIA)

• Islamic Financial Services Act 2013 (IFSA) and Central Bank of Malaysia Act 2009

When has a Shariah governance framework for Islamic financial institutions introduced?

• 2015

• 2020

• 2011

• 2002

The board needs to oversee the performance of a senior management officer that is entrusted to implement the Shariah governance framework 

• True

• False

Which of the following are not compulsory to be done by the board in case on any delegates on any of its responsibilities to the Shariah?

• A. Ensure mandate, areas of authority, operating procedures are set out clearly

• B. Establish an effective communication with the Shariah committee

• C. Establish reporting arrangements

• D. Remain accountable for decisions and any implication from the responsibility

Minimums meetings that IFI must hold with Shariah committee

• at least twice in every two (2) months

• at least once in one (1) months

• at least once in every three (3) months

• at least once in every two (2) months