CTRL 9.3.6 Policy in relation to appointments etc to Shari’a supervisory boards

An Islamic financial institution must document its policy in relation to:

(a) how appointments, dismissals or changes to the institution’s Shari’a supervisory board will be made;
(b) the process through which the suitability of the members will be considered; and
(c) the remuneration of the members.

 

Derived from QFCRA RM/2020-4 (as from 1st July 2021)