Contents
Introduction 2- Islamic Banking 3
- Shari’ah 5
- Shari’ah Supervisory Board 10
- Shari’ah Review 14
- Audit by SSB 18
- Shari’ah Research 19
- Risk Management. 20
- Conclusion 21
- References 22
Description
This paper answers the following question –
1. In Islamic banking practice, the management of a bank has the responsibility to comply with the rules and requirements of the Shari’ah. To fullfill this responsibility, management appoints a Shari’ah Supervisory Board (SSB) or in the case of Malaysia, Shari’ah Committee to help with the task.
a. What are the tasks the SSB is required to perform?
b. Briefly outline the procedures involved in a Shari’ah review conducted by the SSB/Shari’ah Committee.
