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EXIM BANK MALAYSIA
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DISCLOSURE ON
SHARIAH GOVERNANCE

7. Exercising objectivity in coming up with his judgment and be free from associations or circumstances that may impair
the exercise of his professional objectivity. In fulfilling his responsibility, a Shariah Committee member must ensure that
his judgment in arriving at a Shariah decision or advice is not affected by his other professional commitments.
8. Endorsing relevant EXIM Bank’s policies and procedures to ensure that the contents do not contain any elements which are
not in line with Shariah.
9. Ensuring the Islamic finance products of EXIM Bank comply with Shariah principles in all aspects, the Shariah Committee
must endorse the following

i. The terms and conditions contained in the proposal form, contract, agreement or other legal documentation used in
executing the transactions; and
ii. The product manual, marketing advertisements, sales illustrations and brochures used to describe the product.
10. Assessing relevant Shariah related reports carried out by Shariah review, Shariah risk management and Shariah audit
functions in order to ensure compliance with Shariah matters in its Islamic business operations.
11. The Shariah Committee is expected to provide assistance to the external/third party appointed by EXIM Bank such as
legal counsel, auditor or consultant, in the event they seek advice on Shariah matters from the Shariah Committee so as to
ensure compliance with the Shariah principles.
12. Advising EXIM Bank to refer the SAC on any Shariah matters that could not be resolved. Upon obtaining any advice of the
SAC, the Shariah Committee will ensure that all SAC’s decision is properly implemented by EXIM Bank.
13. The Shariah Committee will represent EXIM Bank to attend any meetings with the SAC or other relevant bodies pertaining to
any Shariah issues relating to EXIM Bank’s Islamic business and operation as and when necessary.

14. The Shariah Committee may recommend and assess the nominees for Shariah Committee members. This includes assessing
Shariah Committee members proposed for reappointment, before submission to Nomination and Remuneration Committee
(NRC), the Board and subsequently, for final approval by BNM.

Training Requirements for Shariah Committee
The newly appointed Shariah Committee members have attended an in-house induction session arranged by Shariah & Social
Finance Department of EXIM Bank. This session provides the new members with a comprehensive understanding of the Bank’s
business, operations and internal Shariah governance functions.
To stay updated on developments in Islamic financial business, Shariah Committee members have attended selected local
programs and seminars. Additionally, they are encouraged to participate in courses, talks, training programs, and industry
seminars to enhance their knowledge and skills in line with the evolving Islamic finance landscape.
Composition & Background

As of 2024, the Shariah Committee of EXIM Bank consists of six (6) members. A majority (four members) are Shariah-qualified
scholars, while the remaining two members have non-Shariah backgrounds. This diverse composition ensures a robust and
well-balanced deliberation process in Shariah Committee meetings, integrating both Shariah expertise and industry
perspectives.