The Presidents / Chief Executives
All Islamic Banks and
All Conventional Banks having Islamic Banking Branches
Dear Sirs,
Shariah Governance Framework for Islamic Banking Institutions (IBIs)
Please refer to IBD Circular No. 3 of 2014 dated April 4, 2014 regarding ‘Shariah Governance Framework for IBIs.
2. Based on feedback and with a view to ensure smooth implementation of the framework that IBIs may put in place necessary structure of the framework, it has been decided to extend its implementation date from October 01, 2014 to January 01, 2015. Accordingly, IBIs are advised to expedite the implementation process within extended timelines.
Please acknowledge receipt.