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30 BANK MUAMALAT MALAYSIA BERHAD About Us Our Leadership Our Strategy
About Us
ANNUAL REPORT FY2020

SHARIAH COMMITTEE CHAIRMAN’S
STATEMENT

In the Name of Allah, Bank Muamalat’s commitment to
The Most Gracious, Shariah and the Islamic Shariah
principles and guidelines is all
The Most Merciful encompassing. The Shariah Committee
(“SC”) of Bank Muamalat is entrusted
Assalamualaikum to ensure that the Bank’s aims and
Warahmatullahi operations, business, affairs and
Wabarakatuh, activities are in compliance with
Shariah principles and guidelines.
Alhamdulillah, Every product and service offered by
the Bank must be endorsed by the
Shariah Committee prior to its offer to
All Praise is Due to Allah a customer.
SWT, the Salutations and
Greetings to Our Prophet Within the SC, we aspire to strengthen
Shariah governance and integrate it
Muhammad SAW and within the Bank’s core strength so
His Entire Family and that all stakeholders are assured that
Companions. every income received by the Bank
is legitimate (halal); and benefit from
high impact Shariah research that leads
to greater Shariah innovation in the
Bank’s products and services.
Towards continuous elevation of
Shariah governance, transparency and
integrity, several key agenda items
were successfully completed during
the course of the year. These included
updating the Bank’s internal Shariah
Governance Policy with new clauses,
Standard Operating Procedures
(“SOPs”) and documentation, guidelines
and mechanisms, in order to conform
to BNM’s new Policy Document on
Shariah Governance (“PDSG”) which
came into effect on 1 April 2020.

The SC also completed the development
of the Maqasid Shariah Framework
and embedded this within the Shariah
Governance Policy. Another highlight
was the formulation of the Shariah
Committee Charter in order to enhance
roles and responsibilities of the SC.
TN. HJ. AZIZI CHE SEMAN
CHAIRMAN, SHARIAH COMMITTEE