‘Salam Sejahtera’ In carrying out the roles and responsibilities of the Shariah Supervisory Council (“SSC”) as prescribed in the Shariah Governance Policy Document (“SGPD”) issued by Bank Negara Malaysia (“BNM”), and in compliance with our letter of appointment, we hereby submit our report for the financial year ended 31 December 2022. The Bank’s management ensures that its conducts, operations, business, affairs, and activities follow the relevant Shariah rules and principles. Our responsibility is to form an independent opinion based on the review of conduct and businesses of the Bank in producing this report. We had convened nine (9) meetings during the financial year in which we reviewed, among others, products, transactions, services, processes and documents of the Bank. In performing our roles and responsibilities, we had obtained all the information and explanations which we considered necessary in providing us with sufficient evidence to give a reasonable assurance that the Bank has complied with the applicable Shariah rules and principles. At the management level, the Group Chief Shariah Officer (cum Secretary of the SSC), who functionally reports to the SSC, oversees the conduct and effectiveness of Group Shariah Division’s (“GSD”) functions in carrying out the roles and responsibilities related to the Shariah secretariat, research, training and advisory. The internal control functions comprising Shariah Risk Management, Shariah Compliance and Shariah Audit residing respectively in the Group Risk Management Division, Group Compliance Division, and Group Internal Audit Division, and reporting directly to the Group Chief Risk Officer, Group Chief Compliance Officer, and Group Chief Internal Auditor further confirm the reliability of the Bank’s Shariah governance. The following are the significant developments that took place during the financial year, which reside under our purview: APPROVALS To ensure smooth and timely execution of our business operation, we empowered the Group Chief Shariah Officer (“GCSO”) and Senior Manager of Group Shariah Division to approve variations in documents and matters which were not substantially Shariah related. The approvals were then notified to us periodically in our SSC meetings. Concurrently, the GCSO or his representative is also a member in the following committees to advise the Bank on matters relating to Shariah rules and principles: i) Management Operation Committee; ii) Sadaqa House and Zakat Committee (Vice-Chairman); iii) Management Sustainability Committee; iv) Management Risk Control Committee; v) Operational Risk Control Committee; vi) Underwriting and Investment Committee; vii) Product Development Oversight Steering Committee; viii) Financing Committee A; and ix) Financing Committee B; Financial Statements 231 01 05 03 07 02 06 09 04 08 Bank Islam Malaysia Berhad Report of the Shariah Supervisory Council
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