Managing Shariah Non-Compliant Risk in Islamic Financial Institutions
Why should you join this training?
Ensuring Shariah-compliant aspect is imperative for Islamic financial institutions (IFIs) to maintain the confidence of stakeholders and the public at large. Inadequate attention to the whole process of Shariah-compliant aspect will trigger negative repercussion to IFIs, such as massive withdrawal and financial loss. Any income derived from Shariah non-compliant incidents cannot be recognized as IFI profit. Hence, understanding Shariah non-compliant risk management is essential to ensure Shariah compliance. This two-hour course is designed to provide the participants with a practical understanding of managing Shariah non-compliant risk in Islamic financial institutions (IFIs).
After completing this session, participants should be able to:
- Understand the significance of Shariah compliance and Shariah governance in IFIs
- Understand the key Shariah non-compliant risk areas in IFIs
- Understand the process of Shariah non-compliant event reporting
- Apply the rectification plan for Shariah non-compliant events
- Manage the income resulting from Shariah non-compliant events
- Mitigate the occurrence of Shariah non-compliant risk events