Shariah Review
Shariah Review
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A function undertaken by the Shariah Review Unit, to conduct regular assessments on Shariah compliance levels in HLISB‘s activities and operations by qualified Shariah officer(s), with the objective of ensuring that the activities and operations carried out by HLISB do not contravene with the Shariah rules and principles.
It involves the off-site and on-site examination and independent evaluation of the end-to-end activities and operations of the business and support units within the bank in regards to their level of compliance with Shariah rules and principles. All observations arising from Shariah review exercises and evaluations on HLISB’s business and support units are documented into internal Shariah Review Reports, whereby these observations are tracked and followed up until all are satisfactorily addressed. These reports are regularly tabled to the HLISB Shariah Committee for deliberation and approval.
