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WorksheetsShariah Risk & Compliance Awareness
Total questions: 12
Worksheet time: 6mins
Which of the following act govern the Islamic finance in Malaysia?
Islamic Banking Act 1983
Financial Services Act 2013
Bank Negara Malaysia's Shariah Governance Framework for Islamic Financial Institution (BNM's SGF)
Islamic Financial Services Act 2013
What is the potential implication by the regulator if the banks breached Shariah compliant requirements?
Possible imprisonment only
Possible monetary fines only
Possible either one or both, imprisonment & fines
Stern warning
Why does CIMB Group need to ensure Shariah compliance?
Because CIMB Group engage in Islamic banking businesses
Because CIMB Group engage in Islamic capital market businesses
Because CIMB Group engage in asset management businesses
Because CIMB Group engage in Takaful businesses
Shariah Risk is responsible party to report any Potential Shariah Non-Compliant, Shariah Non-Compliant to BNM, is the statement correct or wrong?
Correct
Wrong
Shariah & Governance of Group Islamic Banking Division is responsible party to investigate any Potential Shariah Non-Compliant, is the statement correct or wrong?
Correct
Wrong
Shariah compliant is to comply with the following :-
CIMB Group Board Shariah Committee (BSC) resolutions & decisions
Bank Negara Malaysia & Securities Commission's Shariah Advisory Council (SAC) resolutions
Bank Negara Malaysia & Securities Commission's policy documents, guidelines and requirements
Authority governing the Islamic Banking & finance business of CIMB Group in particular jurisdiction
Based on Bank Negara Malaysia Operational Risk Reporting Requirement – Operational Risk Integrated Online Network (ORION), which of the following is responsible to decide whether the reported observation is an operational lapse or Actual / Potential Shariah Non-Compliance?
Shariah and Governance Department, Group Islamic Banking
Shariah Audit, Group Internal Audit
CIMB Group Board Shariah Committee
Shariah Review Unit, Islamic Banking Compliance,Group Compliance
What are the possible implication of Shariah non-compliance to an Islamic Financial Instituition?
Potential loss of income
Reputation impact
Regulatory impact
Which of the following department need to be established as per requirement by BNM's Shariah Governance Framework for Islamic Financial Institution?
Shariah Review
Shariah Audit
Shariah Research
Shariah Risk
If you noticed any non-compliance within your business unit, whom you may report the incident to?
Designated Compliance & Operational Risk Officer (DCORO)
Risk Control Officer (RCO)
Head of Department (HOD)
Whistle-blower Hotline
A staff had wanted to complete his office work at home had emailed a file containing the bank's customer information to his son's email address.
Based on the above, did the staff breach Section 133 (Secrecy) of the FSA?
Yes, the staff has breached Section 133 of FSA
No, the staff did not breach Section 133 of FSA
IFSA provides laws for the licensing and regulation of institutions carrying on the business of all the following except:
Banking
Pawning
Investment banking
Takaful
