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WorksheetsShariah Governance of Islamic Banking in Malaysia
Total questions: 15
Worksheet time: 5mins
What is the minimum number of the SSC members?
6
5
8
7
Shariah Risk in SGPD 2019 involves developing and implementing process for Shariah non - compliance risk awareness
True
False
He/She is Shariah Commitee of Bank Islam from Academy of Islamic Studies
Dr. Shamsiah Mohamad
Professor Dato’ Dr Ahmad Hidayat Buang
Professor Dr. Asmadi Mohamed Naim
Associate Prof Dr Yasmin Hanani Mohd Safian
One of the Shariah Awareness Initiatives is Virtual Onboarding Program.
True
False
“SAC is the authority for the ascertainment of Islamic law for the purpose of Islamic financial business. SAC also has the power to determine its own procedure.” – Part VII CBA 2009
Section 54
Section 52,55, &56
Section 51
Section 53
Promoting Shariah compliance culture is the role and responsibility of
Shariah Committee
The Board
Senior Manager
Control Functions
Which of the following are the key highlights of the charter? (Choose 3)
SSC Composition
Roles & Responsibilities of the SSC
Performing in-depth research
Coordinating day-to-day Shariah advice
Authority & Delegation
SGPD was issued by Bank Negara Malaysia on 20 September 2019.
True
False
Shariah non-compliance impact to Financial (Choose 2)
Shariah non-compliant income due to invalidation of contract (aqad)
Against the commands of Allah SWT
Capital adequacy ratio (CAR) impact
Impediment of Allah’s SWT blessings or barakah
Impact of Shariah non-compliance according to IFSA 2013, section 28(5) of the Act provides
Imprisonment for more than eight years, or fine not exceeding twenty-five thousand ringgit, or both
Imprisonment for a term not exceeding eight years only
Fine not exceeding twenty-five thousand ringgit only
Imprisonment for a term not exceeding eight years, or fine not exceeding twenty-five million ringgit, or both
Shariah governance is: “A set of institutional and organisational arrangements through which IFIs ensure that there is an effective independent oversight of Shariah compliance over the issuance of relevant Shariah pronouncements, dissemination of information and an internal Shariah compliance review.”
True
False
Shariah Governance Framework has been introduced in
1983
2009
2010
2019
Section 28 of the Islamic Financial Services Act 2013, on Shariah compliance provides:
An institution not all times ensure that its aims and operations, business, affairs and activities are in compliance with Shariah.
True
False
The second line of defence concept;
ORMD, SRM, HOD
Risk Owner or Risk Taking Units
Internal Audit Division
ORMD, SRM, Shariah Compliance
Mr Mohd Faysal Mohammed is a senior manager in Shariah advisory research Bank Islam Malaysia Berhad
True
False
