Shariah Unit

We are structured as a platform to ensure all HLISB business and products are in compliance with Islamic Banking Act, 1983, BNM guidelines as well as adherence to Shariah rulings and principles
 
We organize monthly meeting with our Shariah Advisory Committee (SAC) where the members make their reviews and comments on the principles, contracts and transactions relating to all proposals, applications and issues submitted by the Bank. We assist in providing the SAC appropriate understanding on the matters so that they would provide the Bank with proper advices, rejections or approvals on the submissions. Therefore we have obtained assurance that all products, contracts, transactions and dealings entered by HLISB as well as main sources of funds and areas of investments are in accordance with Shariah precepts.
 
We are also performing review on various product structures including deposits, mortgages, treasury instruments, sukuk issuances and structured products as well as all documentation, marketing conducts and other related matters. This is done prior to submission to SAC as well as after the final version or revision or amendments was made.

We also involve in the establishment of Shariah compliance and audit framework for the purpose of ensuring a thorough compliance with Shariah rules and regulation in the operational aspects.