Page 438 - Bank-Muamalat_Annual-Report-2023

BANK MUAMALAT MALAYSIA BERHAD

BASEL II
PILLAR 3 DISCLOSURE

10.0 SHARIAH GOVERNANCE DISCLOSURES (CONT’D)
Shariah Governance Structure

Internal Shariah Control
Shariah compliance management is driven top down from the Board through the Shariah Committee (“SC”) who has the
responsibility of understanding Shariah-related matters in the activities assumed by the Group and the Bank.

The Group and the Bank align its Shariah Management and Compliance organisational responsibilities with the objective
of ensuring a single view of risks across the Group and the Bank and putting in place capabilities for an integrated
compliance management. The SC function independently and ensure the integration of compliance management.
In ensuring that the compliance management functions are able to provide an independent evaluation of its overall
business decision and strategies, the functions are segregated to the business operating units.
Table 27: Shariah governance structure

Shariah Governance Structure

Internal Shariah Control

Board of
Directors
Board Risk &
Compliance Shariah Board Audit
Committee Committee Committee
(BRCC)

Management

Regulatory Advisory
Risk Management Shariah & Compliance Internal Audit
Department Department Department
Department

Shariah
Shariah Advisory & Shariah Shariah
Risk Management Review Audit
Research

Shariah Secretariat,
Governance &
Training

436