The unique nature of Islamic banking and finance necessitates specific compliance mechanisms and regulatory oversight to ensure adherence to Islamic principles, while maintaining consistency with broader prudential regulations. Over the years, Malaysia has established a robust and highly effective legal and regulatory environment for the Islamic financial services sector, consisting of comprehensive legislation as well as more granular policy documents and guidelines.

However, compliance risk remains significant, particularly as Islamic financial institutions grow and innovate. Managing regulatory compliance risk is a complex, hands-on role, and one that influences the smooth running of business operations, or otherwise. Compliance managers are often called upon to act as internal consultants, advising product managers, C-suite and boards of directors. Room for error is minimal, meaning compliance managers must be well informed of the latest regulatory developments, as well as current market practice.

This concise, 1-day course will provide a detailed, comprehensive assessment of the most important and current points of legal and compliance risk and management for an Islamic financial institution.

• Course Objectives & Learning Takeaways:
  • Comprehend the importance and relevance of legal and regulatory frameworks and guidelines for an Islamic financial institution.
  • Implement effective internal controls to build an effective regulatory compliance culture.