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SHARIAHCOMMITTEE’S
REPORT
IN THE NAME OF ALLAH, THE BENEFICENT, THE MOST MERCIFUL
All Praise is due to Allah, the Cherisher of the World, and the Peace and Blessing be upon the Prophet of Allah, on his Family and
all his Companions.
and “Salam Sejahtera”
To the shareholders, customers and stakeholders of Export-Import Bank of Malaysia (“EXIM Bank or the Bank”):
In carrying out the roles and responsibilities as EXIM Bank’s Shariah Committee (“the Committee”) as prescribed in the Bank’s
Shariah Compliance Framework as well as the Shariah Governance Framework for Islamic Financial Institutions issued by Bank
Negara Malaysia, we the members of the Committee hereby submit the following report in respect of Shariah compliant business
activities of EXIM Bank for the financial year ended 31 December 2013:-
1. TheCommitteehad conducted ten (10)meetings during thefinancial year to reviewandapprovevarious newandenhancement
to the Bank’s Islamic financial and Takaful products aswell as guidelines andmanuals relating to Shariah compliant transactions
and internal processes. We confirmed that we have reviewed the applicability and appropriateness of Shariah principles
and the Shariah contracts adopted relating to the new and enhancement products, transactions and operational processes
of Islamic financing and Takaful activities of EXIM Bank for the period from 1 January 2013 until 31 December 2013.
2. The Committee has provided appropriate advisory and counsel on various aspects of the Bank’s Islamic business operations
in order to ensure compliance with applicable Shariah principles as well as the relevant resolutions and rulings made by the
Shariah Advisory Councils of Bank Negara Malaysia.
3. The Committee have assessed the work carried out by Shariah review and Shariah audit and the report has been presented
and deliberated in the Committee meeting, which the findings shall be the basis for the Committee to form an opinion on its
compliance to Shariah rules and principles, Shariah guidelines and rulings issued by the Shariah Advisory Council of Bank
Negara Malaysia as well as Shariah decisions and resolutions made by the Committee.
4. During the financial year, training sessions and briefing were organised to provide awareness and understanding on Shariah
application in the banking business and financial activities as well as to infuse Islamic values among stuff.
5. Money which derived from the compensation for late payment charges on Islamic financing activities was distributed
to charity.
6. The Committee has reviewed the financial statements of the Bank, including the calculation of Zakat and confirmed that
the financial statements prepared are in compliance to the Shariah rules and principles as well as the minimum disclosure
requirements as stipulated by Bank Negara Malaysia.
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EXIM Bank Annual Report 2013