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ISLAMIC BANKING OPERATION
& SHARIAH GOVERNANCE
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.
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
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
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