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Shariah Governance & Culture for Islamic Financial Institutions

SIDC CPE-approved: 10 CPE Points

Date: 5th February 2025
Venue: DoubleTree by Hilton Kuala Lumpur

Classroom Training

COURSE BACKGROUND

With the growth and maturity of the Islamic finance industry, the board, Shariah committee and senior management of a financial institution are increasingly expected to optimise the quality of internal Shariah control and governance functions. This includes refining the efficacy of oversight functions and key organs with regards to Shariah compliance, promoting an effective Shariah compliance culture and optimizing the quality of internal control functions.

This course will provide participants with a comprehensive understanding of the essential principles, regulatory requirements, and best practices in Shariah governance within the context of Islamic financial institutions. It will explore the critical role of Shariah compliance in ensuring stability and public confidence in the operations of Islamic financial institutions. As well as key governance issues, participants will gain insights into recent regulatory developments, the role of key stakeholders, and how a strong institution-wide Shariah compliance culture can be built and developed.

  • Key learning Objectives and Takeaways:
    • Understand the latest Shariah compliance regulations and their implications.
    • Identify key roles in Shariah governance and their responsibilities.
    • Comprehend regulators' expectations for Islamic financial institutions.
    • Build and strengthen Shariah risk culture within the organization.
    • Explore Shariah audit, risk management, and compliance control functions.
    • Build an effective Internal Shariah audit framework.
    • Develop and maintain a Shariah compliance risk culture strategy.
    • Apply behavioural bias mitigation and Shariah non-compliance risk management.

Fee

Fee per participant: RM2,600/$700

Please note that the Ringgit price is applicable to Malaysia-domiciled participants only. Discounts are available for group bookings. Please contact us for more details.

In-house/group training

If you are looking for an in-house training program or wish to send a group to an existing public program, kindly please contact Andrew Tebbutt at [email protected] or +603 2162 7802.
Learn More

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Send me Details

For enquiries please contact:

Normariya Sariman
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 44

Ramesh Kalimuthu
Events Sales Director
[email protected]
Direct Line: +603 2162 7800 ext 65
Fax: +603 2162 7810

For sponsorship & speaking opportunities:

Andrew Tebbutt

Managing Director
[email protected]
Direct Line: +603 2162 7802

For marketing and media enquiries

Govina Selvanthran

Marketing Manager
[email protected]
Direct Line: +603 2162 7800 ext 22

seminar logo

Shariah Governance & Culture for Islamic Financial Institutions

SIDC CPE-approved: 10 CPE Points

Date: 5th February 2025
Venue: DoubleTree by Hilton Kuala Lumpur

Classroom Training

Send me Details

COURSE BACKGROUND

With the growth and maturity of the Islamic finance industry, the board, Shariah committee and senior management of a financial institution are increasingly expected to optimise the quality of internal Shariah control and governance functions. This includes refining the efficacy of oversight functions and key organs with regards to Shariah compliance, promoting an effective Shariah compliance culture and optimizing the quality of internal control functions.

This course will provide participants with a comprehensive understanding of the essential principles, regulatory requirements, and best practices in Shariah governance within the context of Islamic financial institutions. It will explore the critical role of Shariah compliance in ensuring stability and public confidence in the operations of Islamic financial institutions. As well as key governance issues, participants will gain insights into recent regulatory developments, the role of key stakeholders, and how a strong institution-wide Shariah compliance culture can be built and developed.

  • Key learning Objectives and Takeaways:
    • Understand the latest Shariah compliance regulations and their implications.
    • Identify key roles in Shariah governance and their responsibilities.
    • Comprehend regulators' expectations for Islamic financial institutions.
    • Build and strengthen Shariah risk culture within the organization.
    • Explore Shariah audit, risk management, and compliance control functions.
    • Build an effective Internal Shariah audit framework.
    • Develop and maintain a Shariah compliance risk culture strategy.
    • Apply behavioural bias mitigation and Shariah non-compliance risk management.

Fee

Fee per participant: RM2,600/$700

Please note that the Ringgit price is applicable to Malaysia-domiciled participants only. Discounts are available for group bookings. Please contact us for more details.

In-house/group training

If you are looking for an in-house training program or wish to send a group to an existing public program, kindly please contact Andrew Tebbutt at [email protected] or +603 2162 7802.
Learn More

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AGENDA

Session 1: Shariah Governance, Culture & Internal Control
  • Examining recent regulatory requirements on Shariah governance, audit and compliance
  • Implications of the regulatory requirements for Shariah audit, risk management and Shariah non-compliance reporting functions
  • Role of board of directors, Shariah committee and management
  • Regulator’s expectation on Shariah governance
  • Strengthening Shariah compliance risk culture
  • Q&A
Sesson 2: Shariah Governance and Control Functions
  • Shariah governance control functions
  • Shariah review, Shariah audit, Shariah risk management
  • Framework for implementing effective Shariah governance
  • Internal Shariah Audit Framework - what is this and why is it important?
  • Building and maintaining Shariah compliance risk culture
  • Q&A
Sesson 3: Building an Effective Shariah Compliance Culture
  • Shariah compliance risk culture: establishing internal policies and initiatives
  • Setting the tone from the top: policies set by senior management
  • Practical issues when developing and implementing Shariah culture across a financial institution:
    • Processes and product related considerations
    • People and behavioural considerations
    • The importance of the HRM function
  • Integrating Shariah governance across all functions
  • Defeating behavioural bias
  • Developing rewards and incentives policy for ensuring Shariah compliance
  • Shariah non-compliance risk reporting and management
  • Q&A
Wrap-up

EXPERT COURSE DIRECTOR


Dr Rusni Hassan
Professor and Dean, IIUM Institute of Islamic Banking and Finance (IIiBF)

Prof. Dr. Rusni Hassan is an esteemed leader in Islamic finance, notably serving as the Dean at the IIUM Institute of Islamic Banking and Finance. Her distinguished career is marked by a profound influence on academic, regulatory, and practical aspects of Islamic finance globally. Her leadership extends beyond finance to influential positions on Shariah advisory councils and boards of directors for various organizations, reflecting her versatile expertise and commitment to integrating Islamic principles in broader economic practices.

A prolific author, she has contributed over a hundred scholarly articles and numerous seminal books that have significantly shaped the legal and regulatory landscape of Islamic finance worldwide. A passionate academician, she has mentored countless students and young professionals, emphasizing the importance of ethical practices and the integration of Islamic values in business and finance and nurturing the next generation of Islamic finance professionals and fostering a well-rounded and principled financial leadership. Her works and contribution to Islamic Finance has been internationally recognized by the Government of Maldives when she was awarded the National-Recognition for Outstanding Contribution of Females to Develop and Sustain Islamic Finance Industry in Maldives in 2018. Her achievements span academic contributions, regulatory enhancements, and influential leadership, making her invaluable to the global Islamic finance community and an inspiring leader whose work continues to impact the academia and industry profoundly.

Who Should Attend?

  • Product development professionals
  • Shariah committee and Shariah department
  • Shariah risk, audit and compliance/review professionals
  • Internal audit and compliance
  • Risk management professionals
  • Recovery and credit management professionals
  • Senior management and board directors
  • Regulatory & supervisory professionals

For enquiries please contact:

Normariya Sariman
Account Manager, REDmoney Seminars
[email protected]
Direct Line: +603 2162 7800 ext 44

Ramesh Kalimuthu
Events Sales Director
[email protected]
Direct Line: +603 2162 7800 ext 65
Fax: +603 2162 7810

For sponsorship & speaking opportunities:

Andrew Tebbutt

Managing Director
[email protected]
Direct Line: +603 2162 7802

For marketing and media enquiries

Govina Selvanthran

Marketing Manager
[email protected]
Direct Line: +603 2162 7800 ext 22

About Us

REDmoney Events designs, organizes and hosts industry-leading conferences, forums, roadshows and seminars focusing on the Islamic financial markets across a global, regional and national level.

+603 2162 7800
[email protected]

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