Code of Conduct In accordance with its Code of Conduct, SSC members are expected to possess good character, competence, diligence and capability of making sound judgment. To ensure the quality and consistency of the decisions, the SSC has formulated the Methodology and Means of Decision Making to arrive to a decision on a given issue by applying the usul fiqh discipline and making reference to Shariah standards, fatwa and resolutions of Shariah authority councils and fiqh academies. It also enables the SSC and BIMB to review previous decisions at the request of BIMB or on its own initiative. Responsibilities of BIMB Towards Shariah Compliance The Management works with the SSC to ensure that all business activities, products, services and operations of BIMB are in compliance with Shariah rules and principles. While the SSC is responsible for forming and expressing decisions on BIMB’s compliance with Shariah, the ultimate responsibility for compliance rests with the Management. Therefore, it is the responsibility of BIMB to perform including but not limited to the following: e stablish a management structure and reporting arrangement that provides a clear scope of accountability between the business lines and the internal control functions that are involved in managing Shariah non-compliance risks, including the accountability of the senior officer’s leading Shariah related functions; implement effective Shariah governance policies, procedures and practices; implement the rulings of the SAC of BNM and the decision or advice of the SSC; implement an effective communication policy that supports a sound understanding of Shariah matters across BIMB; c onduct regular assessment to evaluate the quality of operational support provided to the SSC and address any inadequacies arising thereof; and report to the Board and SSC on a timely basis any potential or actual Shariah non-compliance events. Appointment and Re-Appointment of Members The Board, on the recommendation of the BNRC, decides on the appointment and re-appointment of the SSC members, subject to BNM’s written approval. The Board ensures that the SSC members have the necessary credibility, integrity and calibre and the required skills and knowledge. The appointment and re-appointment of the SSC members is subject to the Fit and Proper Criteria adopted by BIMB as required by paragraph 12 of the SGPD and Fit and Proper policy document issued by BNM. INTEGRATED ANNUAL REPORT 202 1 Key Messages Overview Value Creation MD&A Sustainability Leadership Accountability Financial Additional Information 181
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