Legal & Shariah Secretariat

We are structured as platform to ensure all HLIB business and products are in compliant to Islamic Banking Act, 1983, relevant laws, regulations, BNM guidelines as well as adherence to syariah rulings and principles
 
We organize monthly meeting with our Shariah Advisory Committee where the members make their review and comments on the principles, contracts and transactions relating to all proposals, applications and issues submitted by the bank. We assist in providing the SAC appropriate understanding on the matters so that they would provide the bank with proper advices, rejection or approval on the submissions. Therefore we have obtained assurance that all products, contracts, transactions and dealings entered by HLIB as well as main sources of funds and areas of investments are in accordance to Shariah precepts.
 
We are also performing review on various product structures including deposits, mortgages, treasury instruments, sukuk issuances and structured products as well as all documentation, marketing conducts and other related matters. This is done prior to submission to any committees as well as after the final version after revision or amendments was made.
 
We are also looking forward for the establishment of Shariah compliant framework and Shariah audit mechanism to be in place for the purpose of ensuring a thorough compliant to Shariah rules and regulation in the operation aspects.