Shariah Leaders Education Programme
The Shariah Leaders Education programme is one of the initiatives of Bank Negara Malaysia (BNM) in an effort to strengthen and position Malaysia as a global hub for Islamic Finance. The programme aims to hone the skills of Shariah Committee members in both banking and takaful operations and products; to enhance their ability to carry out their roles and responsibilities.
The programme will also provide global perspectives on the development of Islamic Finance that will strengthen local Islamic Financial Institutions in the face of global competition. The programme which is mandatory for Shariah committee members of Islamic Financial Institutions in Malaysia commenced in March 2015.
The key programme objectives of the whole suite of Shariah Leaders Education programme includes:
- To emphasise and reinforce a clearer understanding of the roles and responsibilities of the Shariah Committee members at Islamic Financial Institutions especially with regard to ensuring end-to-end Shariah compliance in line with the Islamic Financial Services Act 2013 (IFSA).
- To provide a better understanding of the key issues facing Islamic Financial Institutions and to assist Shariah Committee members to discharge their responsibilities more effectively.
- To broaden perspectives of Shariah Committee members on the need for Islamic Financial Institutions to strengthen their ability to meet the needs of the consumers (to sustain commercial viability of Islamic Financial Institutions) as well as the significant roles undertaken by the Shariah Committee members in facilitating this development.
- To better equip Shariah Committee members with appropriate tools and strategies that can be applied to build a dynamic and sustainable business model.
- To enhance awareness of the different operational dynamics of Islamic Financial Institutions which involve the oversight role of the Shariah Committee members.