On course for success

Syariah Governance Framework

Programme Overview

This programme will expose participants to the various aspects of Syariah governance framework, including but not limited to, its importance; its differences and relations with corporate governance; regulations and guidelines that are available in various countries such as Malaysia, Indonesia, UAE, Kuwait, Oman, Nigeria, etc. It will also shed light on the IFSB Syariah Governance Framework and AAOIFI Standard on Syariah Governance Framework.

One of the main differences between Islamic financial institutions and non-Islamic financial institutions is the requirement for the former to comply with the principles of Syariah in all its practices and dealings. Any violation of this requirement will lead to, not only, potential reprimand by the authority, but more severe than that, trust deficit from its stakeholders, especially the public. Hence, a proper framework to govern the compliance to principles of Syariah is of paramount importance to the practices of Islamic financial institutions.

This programme will expose participants to the various aspects of Syariah governance framework, including but not limited to, its importance; its differences and relations with corporate governance; regulations and guidelines that are available in various countries such as Malaysia, Indonesia, UAE, Kuwait, Oman, Nigeria, etc. It will also shed light on the IFSB Syariah Governance Framework and AAOIFI Standard on Syariah Governance Framework.

Besides that, it will also discuss in detail, the main organs of good Syariah Governance Framework, Internal control functions, the difference between Syariah review and Syariah Audit and how to design and implement good Syariah review and Syariah Audit Plan.

Programme Objectives

At the end of the workshop, the participant shall gain an understanding of the various issues relevant to Syariah Governance Framework, amongst others include:

  • Understand key aspects of a good Syariah Governance Framework and its practices in various jurisdictions;
  • Discuss the applicable models of Syariah Governance Framework in various jurisdictions;
  • Explaining the roles and responsibilities of main organs of Syariah Governance Framework, namely the Board of Directors, the Syariah Committee and the Senior
    Management;
  • Strengthen accountability of the boardroom and committee for Syariah governance initiatives;
  • Gain knowledge on the Syariah code of corporate governance: Identifying issues and repercussions for poor transparency and lack of disclosure;
  • Ensure that all officers and personnel have sufficient Syariah qualifications before discharging their responsibilities; and
  • Build a more effective Syariah compliance culture.

Programme Outline

Session 1: Overview of Syariah Governance Framework
  • Definition and Scope of Syariah Governance system
  • Syariah Governance From the Islamic Perspective
  • General Approach to the Syariah Governance System
  • Importance of Syariah Governance in Islamic Finance
  • Corporate Governance vis-à-vis Syariah Governance
  • Similarities between the two
  • Differences between the two
  • Relationship between the two
Session 2: Regulations and Guidelines relating to Syariah Governance
  • IFSB Guiding Principles on Syariah Governance Systems For Institutions Offering Islamic Financial Services
  • AAOIFI Syariah Governance Framework
  • Samples of various Jurisdictions’ Syariah Governance Regulation
    • Malaysia
    • Oman
    • UAE
    • Nigeria
  • Models of Syariah Governance Framework Worldwide
  • Two layers model (with close control and monitoring)
  • Two layers model (without close control and monitoring)
  • One layer model
Session 3: Main Organs of Good Syariah Governance Framework — Their roles and responsibilities
  • Board of Directors
  • Syariah Committee
  • Senior Managemen
    Session 4: Internal Control Function
    • Syariah Risk Management
    • Syariah Review
    • Syariah Audit
      Session 5: Importance Provisions of Syariah Governance Framework
      • Provisions relating to Boards of Directors
      • Provisions relating to Syariah Committee
      • Provisions relating to Senior Management
      • Provisions relating to Main Internal Control Functions
        • Syariah Risk Management
        • Syariah Review and Syariah Audit
          • What are the functions of Syariah Review and Syariah Audit?
          • The differences between the two
          • The relationship between the two
          • What they seek to supervise and monitor
        • Planning and executing good Syariah Review and Audit
      • Ingredients for good Syariah Review and Audit Plan
      • How to execute the Syariah Review and Audit Plan
      • How to deal with Reviewees and Auditees
      • How to deal with Syariah non-compliance
      Session 5: Reports of the Syariah Committee
      • Importance of Reports from Syariah Committee
      • Minimum Requirements of Syariah Committee’s Report
      • Creating Syariah compliance culture in the IFIs
        • What this means?
        • How to achieve that?

      Who Should Attend

      • Directors & Board Members;
      • Syariah Advisors;
      • Company secretaries;
      • Senior managers and executives of governance/compliance/Syariah
        governance;
      • Audit committee and internal auditors;
      • Corporate lawyers and in-house counsel;
      • Compliance and audit staff; and
      • Regulatory authorities

      Your Investment

      Stakeholders *

      • Early-bird price: BND 1,200 (Deadline 11 Jan 2021)
      • Normal price: BND 1,400

      Non-Stakeholders

      • Early-bird price: BND 1,300 (Deadline 11 Jan 2021)
      • Normal price: BND 1,600

      * Stakeholders are participants from MOFE, AMBD and all domestic banks in Brunei Darussalam.

       

      Download Brochure here
      ▲ Top