SHARIAH REVIEW & SHARIAH AUDIT (CONTINUED) Shariah Review Shariah Audit 1) Review on Compliance with Labuan Financial Services Authority’s Guidelines on Shariah Governance for Labuan Islamic Financial Institutions 1) Business Marketing Division 2) Review on Marketing and Distribution of New Third-Party Products/Services owned by Myangkasa Amanah Berhad (“MAAB”) 2) Product Management Division 3) Review on Marketing and Distribution of New Third-Party Products/Services owned by Amanah Warisan Berhad (“AWARIS”) 3) Wealth Management Division 4) Review on Marketing and Distribution of New Third-Party Products/Services owned by Syarikat Takaful Malaysia Am Berhad (“STMAB”): General Takaful Products 4) Ar Rahnu Department 5) Review on BNM’s Guidelines on Late Payment Charges for Islamic Financial Institutions 5) Corporate Client Solutions and Financing Solutions 6) Review on Non-Retail Wakalah-based Products against BNM’s Policy Document on Wakalah 6) Credit Administration Department 7) Review on Requirements of BNM’s Letter on the Practice of Imposition of Charges for Late Payment in Financing and Breach of Wa’d 7) Bank Islam Labuan Offshore Branch (BILOB) 8) Review on Term Deposit-i Tawarruq against BNM’s Policy Document on Tawarruq at Deposit & Cards 8) Bank Islam Trust Company (Labuan) Ltd 9) Review on Term Deposit-i Tawarruq Special against BNM’s Policy Document on Tawarruq at Treasury & Markets 9) Card Business Department & Card Operations Department 10) Review on Bai’ Al-Sarf-based Products against BNM’s Policy Document on Bai’ al-Sarf at Treasury & Markets 10) Shariah Risk Management 11) Review on BIMB Investment Management Berhad 11) Shariah Compliance Department 12) Review on Marketing Through Social Media on Instagram (“IG”) against BNM’s Shariah Governance Policy Document (“SGPD”) 12) Group Shariah Division 13) Review on Shariah Compliance Culture and Awareness at Branches against BNM’s Shariah Governance Policy Document (“SGPD”) 13) Group Financial Inclusion Division 14) Review on Operationalisation of Bank Negara Malaysia’s (“BNM’s”) Shariah Advisory Council’s (SAC’s) Ruling on Non-Compounding of Profit and Related Issues on Restructuring and Rescheduling (“R&R”) of Islamic Financing 14) Group Corporate Communications 15) Review on Non-Retail Non-Trade Tawarruq Financing against BNM’s Policy Document on Tawarruq 15) Bank Islam Labuan Offshore Branch (BILOB)1 16) Review on Reporting of Shariah- Related Complaints at Branches Against BNM’s Policy Document on Operational Risk Integrated Online Network (“ORION”) 16) 53 Bank Islam Branches1 17) Review on BIMB Securities Sdn. Bhd. (“BIMBSEC”) 17) 2 Ar Rahnu Outlets1 18) Review on the Business Operations of Bank Islam Trust Company (Labuan) LTD 18) 4 Bureau De Change Outlets1 1 For Shariah Audit, only Shariah related findings were escalated for deliberation and decision of SSC. 257 1 2 3 4 5 6 7 8 9 www.bankislam.com FINANCIAL STATEMENTS
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