IBANK 3.1.3 Governing Body's Responsibilities

(1) An Islamic banking business firm's governing body must consider whether the minimum financial resources required by these rules are adequate to ensure that there is no significant risk that the firm's liabilities cannot be met as they fall due. The firm must obtain additional financial resources if its governing body considers that the minimum required does not adequately reflect the risks of its business.
(2) The governing body is also responsible for:
(a) ensuring that capital management is part of the firm's overall risk management and is aligned with its risk tolerance and risk profile;
(b) ensuring that the firm has, at all times, financial resources of the kinds and amounts required by these rules;

Note Financial resources is a broader concept than capital resources. Financial resources could include liquid assets (such as cash in hand), irrevocable lines of credit and irrevocable guarantees.
(c) ensuring that the firm has capital, of adequate amount and appropriate quality, for the nature, scale and complexity of its business and for its risk profile;
(d) ensuring that the amount of capital it has exceeds its minimum capital requirement;
(e) approving the firm's ICAAP and any significant changes to it; and
(f) monitoring the adequacy and appropriateness of the firm's systems and controls and the firm's compliance with them.
Derived from QFCRA RM/2015-2 (as from 1st January 2016).