101
MAYBANKSustainabilityREPORT2013
Why is the Shariah Committee important?
The Shariah Committee is the compass to guide our journey. It is the highest authority in making the final decisions on matters related to Shariah. It also ensures that the
products and business processes are in adherence to Shariah requirements. Furthermore, today’s financial markets require new and innovative products to suit the current
demand and challenges. Therefore, the Shariah Committee’s expertise and direction are essential to provide insights as well as to provide practical contemporary Shariah
solutions towards industry innovation and development. The Shariah Committee will be the reference point in determining whether an incident is a Shariah non-compliant
or otherwise as well as in deciding the rectification approach for the incident, if necessary, with regard to any potential Shariah non-compliant incident occurring within
Maybank operations.
What is the committee’s role in MGIB moving forward?
Moving forward, the Shariah Committee is expected to play a very significant role in leading MGIB as the undisputable Islamic bank globally. With the vast developments
within Malaysia, the Committee not only advises Malaysia’s Islamic banking business but also provides an overseeing role to regional Islamic banking businesses in Indonesia
and Singapore.
productstewardship
OURPRODUCTSANDSERVICES
En. Muhd Ramadhan Fitri Elias presenting food aid to communities in need during Ramadhan
