Hong Leong Bank – Shariah Governance Introduction

HLISB recognizes that Shariah is the underlying foundation in the business practices of Islamic finance and therefore the observance and compliance with its rules and principles is paramount.

Based on this notion and in line with BNM’s Shariah Governance Framework requirements, HLISB has set up a necessary Shariah governance structure, supported by robust internal Shariah compliance functions across the organization. This will ensure that HLISB’s operations and business activities are conducted in accordance with Shariah rules and principles at all times.

Towards achieving this objective, HLISB has established a Shariah Committee tasked with the main responsibility of providing independent advice to the Board and management on Shariah rules and principles. The HLISB Shariah Committee is also tasked with the role of independent oversight over the business and operations of HLISB as an assurance that they are carried out in conformity with Shariah rules and principles. The existing membership of HLISB Shariah Committee are as follows:

1. Prof. Dr. Rusni binti Hassan – Chairperson
2. Assoc. Prof. Dr. Amir bin Shaharuddin – Member
3. Encik Imran bin Mohammad Khayat - Member
   
   

To support the roles and responsibilities of HLISB Shariah Committee, robust internal Shariah compliance functions have also been established accordingly:

        - Shariah Review

        - Shariah Research & Secretariat

        - Shariah Audit

        - Shariah Compliance Risk Management
 

In carrying out their duties and responsibilities, these compliance functions are guided by the HLISB’s own internal Shariah framework and the BNM’s Shariah Governance Framework.