Page 162 - Bank-Muamalat-Annual-Report-2021

160 BANK MUAMALAT MALAYSIA BERHAD
ABOUT US OUR LEADERSHIP OUR STRATEGY OUR PERFORMANCE

Directors’ rePort

Disclosure of shariah coMMittee (cONT’D.)

(i) In the event that the SC delegates any of its responsibilities to any persons or functions:
(i) The Bank must ensure that the mandate, areas of delegated authority and operating procedures are set out clearly in
the SC’s charter and the Bank’s internal policies;
(ii) The Bank must establish reporting arrangements to keep the SC informed of the work, key deliberations and decisions
on the delegated matters; and

(iii) The SC must remain fully accountable for the decisions and any ensuing implications arising from the delegated
responsibility.

(j) To exercise objectivity in coming up with his judgment and be free from associations or circumstances that may impair the
exercise of his professional objectivity. In fulfilling his responsibility, a SC member must ensure that his judgment in arriving at
a Shariah decision or advice is not affected by his other professional commitments.

(k) To devote sufficient time to prepare for and attend SC meetings.
(l) To ensure consistency in providing his views and must not act in a manner that would undermine the rulings of the SAC or any
decisions of the SC that they represent.

(m) To disclose the nature and extent of his interest that constitutes or gives rise to a conflict or potential conflict of interest upon
the appointment, reappointment or as soon as there is any changes in his circumstances that may affect his status.

(n) To continuously develop a reasonable understanding of the business and operations of the Bank and keep abreast with
relevant market and regulatory developments. The chairman of the SC must lead efforts to manage the SC’s developmental
plans.

Zakat obligations

The Bank pays zakat on its business to the state zakat authorities, based on the growth model method as approved by the Shariah
Committee. The Bank does not pay zakat on behalf of the shareholders or depositors, unless upon request by depositors.
For the year ended 31 December 2021, the Group and the Bank have allocated an amount of RM6.43 million and RM6.04 million
respectively, as provision for zakat.

auDitors anD auDitors’ reMuneration

The auditors’ remuneration are disclosed in Note 37 to the financial statements.
The auditors, Ernst & Young PLT, have expressed their willingness to continue in office.

Signed on behalf of the Board in accordance with a resolution of the Board of Directors dated 28 March 2022.

Tan sri Tajuddin Atan Roshidah Abdullah
Chairman Director

Kuala Lumpur, Malaysia