Shariah Standards Training on: "Ijarah & Tawarruq" - Shariah Requirements & Legal Documentations for Islamic Financial Institutions After 2018
Shariah compliance is the backbone of Islamic financial institutions (IFIs) in which they operate. Ensuring Shari’ah compliant aspect is paramount to maintain the confident level of stakeholders and public at large. Inadequate attention to the whole process of Shari’ah compliant aspect triggers negative repercussion to IFIs, such as massive withdrawal and financial loss. In response, BNM has made some commendable initiatives to strengthen Shari’ah compliant culture in the Malaysian IFIs, notably the issuance of Shari'ah standards and their operational requirements, featuring the most prevailing and applicable contracts and principles for IFIs in Malaysia. These include the Shari’ah standard on tawarruq and Ijarah.
The training offers comprehensive, concise and insightful update on the Shari’ah standards and operational requirements as well as legal documentation of tawarruq and Ijarah-based products in IFIs.
At the end of the training, participants should be able to:
- Understand the importance of Shari’ah compliance and Shari’ah governance in IFIs.
- Comprehend the key Shari’ah and operational requirements for tawarruq and Ijarah-based products
- Examine the legal requirements for tawarruq and Ijarah-based products
- Understand the requirements for the arrangements with other contracts/concepts in tawarruq and Ijarah-based products
- Identify the gap between the Shariah standards and the existing practices.