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ISLAMIC BANKING OPERATION & SHARIAH GOVERNANCE

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Page 1: ISLAMIC BANKING OPERATION & SHARIAH GOVERNANCE€¦ · First Session: Islamic Transaction and Islamic Banks • A review of transactions in Islamic Law (Muamalah) • Prohibition

ISLAMIC BANKING OPERATION

& SHARIAH GOVERNANCE

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Islamic Finance in Brunei Darussalam has been implemented since 1992 with the

establishment of Perbadanan Tabung Amanah Islam Brunei (TAIB) regulated under the TAIB

Act (Chapter 163). This is then followed by the incorporation of Islamic Banks pursuant to the

Islamic Banking Act (Chapter 168), which saw the establishment of The Islamic Bank of Brunei

Berhad (1993) and The Islamic Development Bank of Brunei Berhad (2000).

The development of Islamic Banking in Brunei has shown the industry strengthening its retail

banking portfolio surpassing the conventional banks. The growth of the industry is

commendable but as it develops and offers complex financial services, this provides challenges

to the regulators in ensuring the sustainability of the industry and importantly its Shariah

compliance.

Acknowledging this, the workshop aims to refresh the participants’ understanding on the

operation of Islamic Bank, its various operational activities and observation of Shariah

compliance in the offering of their products and services. Thus, at the end of the workshop, it

is hoped that the participants will be familiar with the Islamic Banking operations and Shariah

governance whilst able to identify the respective areas of regulatory concerns.

Introduction

Objectives

ISLAMIC BANKING OPERATION

& SHARIAH GOVERNANCE

Through the workshop, the participants shall be able to grasps the Islamic Banking operation

and governance with clear understanding on among others the followings:

a. Basic understanding of the Islamic banking and its difference with its conventional

counterpart.

b. The important element in Islamic banking contracts, Shariah requirements and governance

framework.

c. Products and services implemented and offered by Islamic Banks.

d. Similarities and differences of Islamic banking practices globally.

e. Regulatory guidelines and issues surrounding the industry.

f. Shariah Governance framework globally and Shariah review.

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First Session: Islamic Transaction and Islamic

Banks

• A review of transactions in Islamic Law (Muamalah)

• Prohibition in commercial transactions

• Muamalah contracts and its application in Islamic

Banking

• Issues in the adaption of Muamalah contracts in

Islamic Banking practices

Second Session: An Overview of Islamic

Banking

• Sourcing and mobilization of funds

• Interest Gap vs Profit for Islamic Banks

• Financial reporting and disclosures

• Liquidity – Asset Liability Management

• Does Islamic Banking create money?

Third Session: Deposits and Its Return

• Saving Accounts

• Current Accounts

• Investment Accounts

• Determination of returns and reserves

• Applicable Muamalah contracts and its issues

Fourth Session: Retail Banking

• Personal Financing

• Asset Financing

• Short Term Credit Facilities

• SME Financing

• Applicable Muamalah contracts and its issues

• Applicable Muamalah contracts and its issues

Fifth Session: Corporate Banking

• Working Capital Financing

• Asset Financing

• International Trade Financing

• Project Financing

• Applicable Muamalah contracts and its issues

Sixth Session: Treasury Operation

• Liquidity Management

• Market Operation

• Financial Instruments

• Derivatives

• Applicable Muamalah contracts and its issues

Seventh Session: Shariah Governance

Framework

• Shariah Board – Supervisory vs Advisory

• Shariah based vs Shariah compliance

• Shariah Audit – Internal and external review

Eighth Session: Regulatory Issues and

Challenges

• Ideal Islamic Banks and its realities

• Supervising in a dual banking system

• Duplication of Conventional products and

services

• Controversial issues in application of Muamalah

contracts

• Shariah oversight – embedded, end to end or

silo?

• Educating the Practitioners, industry and the

public

Course Content

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Trainer Profile

Mohd Hairul Azrin is a faculty member in the School of Business and Economics, Universiti

Brunei Darussalam prior which he had been part of the Brunei Islamic Banking Industry since

the year 2000. He starts his career with The Islamic Bank of Brunei Berhad attached in its

Internal Audit Department. In 2008, he is entrusted as the Head of Sharia Division, Bank Islam

Brunei Darussalam Berhad ensuring Sharia compliance while at the same time providing room

for innovation in product offering. Azrin graduated with a first class honors in Bachelor of

Accounting program and holds an MBA specializing in Islamic Banking and Finance from The

International Islamic University Malaysia. He is currently awaiting the conferment of his PhD in

Accounting and Finance from the University of Glasgow, with interest in the area of

accounting and Islamic finance.

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Centre For Islamic Banking, Finance And Management (CIBFM) is the learning arm under

Autoriti Monetari Brunei Darussalam (AMBD). Established in 2010 as the Centre of Excellence

for Brunei Darussalam’s finance industry. CIBFM is accredited by Brunei Darussalam National

Accreditation Council (BDNAC) as a Training Institution in the field of Banking, Finance and

Management; and all its training programmes are recognised as Value Added Qualifications.

In addition to providing executive education, CIBFM also organizes high profile and

international events in partnership with renowned institutions.

About CIBFM

Page 5: ISLAMIC BANKING OPERATION & SHARIAH GOVERNANCE€¦ · First Session: Islamic Transaction and Islamic Banks • A review of transactions in Islamic Law (Muamalah) • Prohibition

refreshments and certificate of attendance (for full participation).

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