Page 81 - EXIM-Bank_Annual-Report-2023

Management Discussion and Analysis Ensuring Sustainability Commitment to Lead Upholding Accountability Financial Statements 79

Meetings & Attendance
During the financial year ended 31 December 2023, the Shariah Committee held ten (10) series of meeting, including one (1)
sessions of special meeting. The record of attendance of members of the Shariah Committee for the meetings is as follows:

no. name of Shariah Committee Members no. of Meetings Attended*
1. Prof. Datin Dr. Rusni Hassan (Chairperson) 10/10
2. Dr. Safinar Salleh 10/10

3. Dr. Ghazali Jaapar 10/10
4. Dr. Muhammad Syahmi Mohd Karim 10/10
5. Prof. Dr. Muhammad Ridhwan Ab. Aziz 9/10
* Reflects the number of meetings attended during the time the members held office.

SECREtARIAt to tHE SHARIAH CoMMIttEE
Shariah Management Department (SMD) takes the roles as the secretariat to the Shariah Committee and has the responsibility of
providing operational support for effective functioning of the Shariah Committee, which includes:
• coordinating communications and disseminating information among the Board, Shariah Committee and Senior Management;
• performing in-depth research and studies on Shariah issues;
• providing day-to-day advice to relevant parties within the Bank on Shariah matters based on the rulings of the SAC BNM and
decisions or advice of Shariah Committee;
• ensuring proper dissemination of decisions or advice of Shariah Committee within the Bank; and
• undertaking administrative and secretarial functions to support Shariah Committee.

IntERnAL SHARIAH ContRoL FunCtIonS
In ensuring effective management of Shariah non-compliance risk within the Bank, the following functions have performed their
roles on an ongoing basis: -
i) Shariah Risk Management;
ii) Shariah Review; and
iii) Shariah Audit.
Shariah Risk Management

Shariah risk management function is part of the Bank’s integrated risk management framework in line with the principles outlined
in the BNM’s Policy Document on Shariah Governance. The function resided under Shariah & Operational Risk Department,
Risk Management Division. The main function of Shariah risk management is systematically to identify, measure, monitor, control
and report the Shariah non-compliance risks exposures associated with the operations, business, affairs and activities of the Bank.
As part of control measures, the Bank shall endeavour a zero-tolerance approach on the non-compliance with the Shariah principles
and requirements as prescribed by the SAC of BNM and Securities Commission Malaysia (SCM), as well as the Bank’s Shariah
Committee.
Shariah risk management function is responsible for the development, maintenance and enhancement of the Shariah Risk
Management governance, policies and procedures and its implementation, including reporting of the Shariah non-compliance risk
exposures to the Management, Risk and Compliance Committee (MRCC), Shariah Committee (SC), Board Risk Committee (BRC),
and the Board.