IBANK 12.1.5 Adequate Records to be Kept

(1) An Islamic banking business firm must maintain records of:
(a) its assessment of the competence of each member of its Shari'a supervisory board; and
(b) the terms of appointment of each member;
for at least 6 years after the person ceases to be a member of the board.
(2) The records of the assessment of the competence of each member must include:
(a) the factors that have been taken into account when making the assessment;
(b) the qualifications, skills and experience of the member;
(c) the basis on which the member has been considered competent; and
(d) details of any other Shari'a supervisory boards of which the member is, or has been, a member.
Derived from QFCRA RM/2015-2 (as from 1st January 2016).