IBANK 3.1.4 Systems and Controls

(1) An Islamic banking business firm must have adequate systems and controls to allow it to calculate and monitor its minimum capital requirement.
(2) The systems and controls must be in writing and must be appropriate for the nature, scale and complexity of its business and for its risk profile.
(3) The systems and controls must enable the firm to show, at all times, whether it complies with this Chapter.
(4) The systems and controls must enable the firm to manage available capital in anticipation of events or changes in market conditions.
(5) The systems and controls must include ICAAP, and the firm must have contingency arrangements to maintain or increase its capital in times of stress.
Derived from QFCRA RM/2015-2 (as from 1st January 2016).