BIMB Integrated Annual Report 2017

PROFESSOR DATO’ DR AHMAD HIDAYAT BUANG Chairman, Shariah Supervisory Council of Bank Islam Malaysia Berhad PROFESSOR DR MUHAMMAD RAHIMI OSMAN Chairman, Shariah Advisory Body of Syarikat Takaful Malaysia Berhad PROFESSOR EMERITUS DATO’ DR MAHMOOD ZUHDI HAJI ABDUL MAJID Chairman, Shariah Advisory Committee of BIMB Securities Sdn Bhd At the management level, the Companies have implemented Shariah governance practices in compliance with policy documents that are relevant to the respective industries, which include Shariah Governance Framework for Islamic Financial Institutions issued by Bank Negara Malaysia and Best Practices in Islamic Stockbroking Services Undertaken by ParticipatingOrganisation issued by the Securities Commission of Malaysia. Such governance practices include the establishment of internal Shariah compliance functions encompassing audit, review and research to facilitate and support new product development activities, Shariah training, management of Shariah non- compliance risks, Shariah audit and review and the necessary coordination with us on matters that require our decision. We have assessed the Shariah review and Shariah audit reports presented to us and have examined, on a test basis, the transactions, relevant documentations and procedures adopted by the management of the respective Companies. Our assessments were planned and performed in a way that would ensure all the information and explanation considered necessary were obtained in order to provide us with sufficient evidence to give reasonable assurance that the respective Companies have not violated Shariah. We also confirm that every incident of Shariah non-compliant event has been brought to our attention and we have subsequently noted that the corrective as well as preventive measures have been taken by the respective Companies in order to avoid the same from occurring in the future. Any Shariah non-compliant income has also been disposed to charitable causes upon approval by us. We had also reviewed the computation and distribution of Zakat by the respective Companies. In relation to the above, based on the information provided and disclosed to us, we, the Chairmen of the Shariah Committees of the said respective Companies within BIMB Holdings Berhad, do hereby confirm that, to the best of our knowledge, the businesses, operations and activities of the respective Companies for the year ended 31 December 2017 had been conducted in conformity with Shariah. We bear witness only to what we know, and we could not well guard against the unseen! (Surah Yusuf, verse:81) Allah knows best. 89 Overview Value Creation Accountability Financial Statements Sustainability Performance Data Shareholders Information 21 st AGM Information Management Discussion & Analysis