SHARIAH TRAINING & AWARENESS (CONTINUED) The Bank has also continued to elevate Shariah and Islamic banking knowledge of its SSC members and relevant staff by engaging relevant bodies such as Islamic Banking & Finance Institute Malaysia (IBFIM) and Association of Shariah Advisors in Islamic Finance (ASAS). The SSC members and relevant staff attend the following certification programmes and courses, among others: 1. Certified Shariah Advisors (CSA). 2. Certified Shariah Practitioner (CSP) and 3. Certified Professional Shariah Auditor (CPSA), 4. Islamic Financial Planner (IFP) programme, SHARIAH NON-COMPLIANT EVENTS & INCOME Throughout 2021, we confirmed five (5) incidences of SNC events: 1. Four (4) of the events have occurred at branches that are related to non-execution of aqad; and 2. One (1) event occurred at head office related to incomprehensive product structure for refinancing products. We were also informed of the causes of the incidence and noted that the Bank had taken necessary corrective and preventive measures to avoid the same incident from recurring in the future. We also confirmed that the SNC event and the rectification plan were presented to the Board of Directors and us and reported to BNM according to the prescribed reporting requirement. Within the financial year, the Bank has collected Shariah non-compliant income amounting to RM41,182.96. A total of RM39,692.42 from the collected amount was purified and disposed to charitable causes upon our approval, as noted in Note 23 (Sources and Uses of Charity Fund). BUSINESS ZAKAT In the financial year, the Bank has fulfilled its obligation to pay zakat on its business to state zakat authorities by adopting the growth capital computation method, in compliance with the Banking Zakat Management Manual (Pengurusan Zakat Perbankan) issued by the Wakaf, Zakat and Hajj Department (Jabatan Wakaf, Zakat dan Haji – JAWHAR). The Bank paid the zakat on the Bank’s portion, i.e. shareholders’ fund and other funds received by the Bank excluding depositors’ fund and Investment Account Holders’ fund. Several zakat authorities had mandated distribution of a portion of the zakat paid by the Bank based on their agent (wakil) for distribution to eligible beneficiaries (asnaf) as guided by the Business Zakat Guideline we approved. SAFEGUARDING THE INVESTMENT ACCOUNT HOLDERS (“IAH”) INTEREST In ensuring that the interest of IAH is protected, we confirmed that the profit allocation for the IAH is per Shariah rules and principles where the profit computation formula has been duly presented and approved by us. The performance of the Investment Account has also been disclosed and reported via issuance of Fund Performance Report (FPR), which was already made available on the Bank’s website. INTEGRATED ANNUAL REPORT 202 1 Key Messages Overview Value Creation MD&A Sustainability Leadership Accountability Financial Additional Information 223
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