Copy of Syariah Governance - Bilif

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Entry Requirement

O level/ SPUNational Diploma

Successfully completed and passed all common core modules

Successfully completed and passed all modules in the selected sector.

For Common Core as follows:

*Note: No working experience and related degree required

For Sector Core:

For specialised knowledge:

The LIFE learning progression is divided into 3 structures:

Common Core: This core covers 9 knowledge areas that are common within all sectors inthe industry - Islamic Banking, Islamic Capital Markets and Takaful. These modules arecompulsory.

Sector Core: Sector core covers the main focus of Islamic Finance which are IslamicBanking, Islamic Capital Market and Takaful.

Specialised knowledge: Participants will select a preferred specialization which includesIslamic Banking, Islamic Capital Market, Family Takaful or General Takaful. Participants willtake modules and examination necessary to become a specialist in their selected sector.

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Programme Learning Progression

LIFE is a professional learning pathway that covers all sectors in Islamic Finance namely

Islamic Banking, Takaful and Islamic Capital Market. The programme is designed to

provide a learning experience tailored to the competency levels of the participants.

LIFE encompasses 3 learning structures namely Common Core, Sector core and

Specialised Knowledge and 3 level of competency (level 1, level 2 and level 3).

Programme Overview

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COMMON CORE

CC03: SYARIAH ANDMUA’AMALAH

CC05: FINANCIAL STATEMENTSAND ANALYSIS

CC06: DATA ANALYTICS CC08: RISK AND REGULATORY

COMPLIANCE

CC07: GOVERNANCE FORISLAMIC FINANCIAL

INSTITUTIONS CC09: STRATEGIC AND LEADERSHIP

SECTOR CORE

REGULATORY ANDECOSYSTEM

SPECIALISED KNOWLEDGE

ISLAMIC BANKING ISLAMIC CAPITALMARKET

TAKAFUL OPTION 1: FAMILY

TAKAFUL

OPTION 2: GENERALTAKAFUL

Actuarial and investment Marketing Retakaful/Reinsurance Risk management Governance and financialreporting Products and underwriting Claim management

STRUCTURE OF LIFE

Banking business practices1 (Retail and CorporateBanking)Banking business practices2 (Treasury) Banking business practices(Trade Finance) Banking control andcompliance (Risk, Auditand Compliance)

CC02: ISLAMIC ECONOMICSCC04: ETHICS AND

PROFESSIONAL CONDUCT

BANKING AND ISLAMIC BANKINGINDUSTRY (LEGAL, REGULATORY

AND BEST PRACTICES)

CC01: FINANCIAL SYSTEM,LEGAL AND

REGULATORY FRAMEWORK

BANKING AND ISLAMIC BANKINGINDUSTRY (OPERATIONS AND

DEVELOPMENT)

ISLAMIC CAPITALMARKET

ISLAMIC BANKING TAKAFUL

PRODUCTS

TAKAFUL CONCEPT AND REGULATORY FRAMEWORK

PRODUCTS AND TAKAFULOPERATIONS

Sukuk Equities and private equity Investment managementStructured products andderivatives

Actuarial and investment marketing Retakaful/ Reinsurance Risk management Governance and financial reporting Underwriting and claimmanagement

To choose 2modules only


OR

Option 1

Option 2


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CC01 FINANCIAL SYSTEM LEGAL AND REGULATORY FRAMEWORK

COMMON CORE MODULES

Specify the applicable legislations for Islamic bankingand finance.

Discuss the regulatory framework of Islamic banking andfinance.

Introduction The Financial Ecosystem Regulatory bodies in Islamic Finance and Takaful Legal framework for Islamic Finance Shariah Governance Framework Internal Shariah Audit FrameworkConclusion

Introduction - Current state of the economy Fiscal consolidation Initiatives Brunei Vision 2035

Level 1

Level 2

OBJECTIVESCONTENTS

Evaluate the legal and regulatory issues on Islamic bankingand finance and to discuss potential solutions

Discuss the regulatory framework of Islamic banking andfinance. Specify the applicable legislations for Islamic banking andfinance.

Level 2

Level 1

Brunei Darussalam's Financial Sector Blueprint 2016 -2025Digital Government strategy 2015 - 2020 BruneiDarussalam National Budget Tenth National Development Plan (2012 - 2017) Introduction to Regulatory and Compliance

Introduction to Legal system Constitution of Brunei Darussalam Sources of Law in Brunei Darussalam Judicial System in Brunei Darussalam Alternative Dispute Resolution Decided Cases

Level 3

Evaluate the legal and regulatory issues on Islamicbanking and Finance to discuss potential solutions

Understand the importance of legal and judicial systemin Brunei Darussalam Apply the knowledge from the in basic and intermediatelevels to the legal disputes Apply the overall knowledge on the course to a relevantissue as per decided cases

Level 3

CC02 ISLAMIC ECONOMICS CONTENTS OBJECTIVES

Islamic World View Economic Systems and Islamic Economic System Shariah: Sources and MaqasidProperty in Islam Ethics and Economics in Islam

The Islamic Economy The Market Institutions Finance in the Islamic Economy Social Financial Institutions Regulatory Institutions

Fiscal Policy Monetary Policy Redistribution Policies Human Developments Sustainability Agenda

Level 1

Level 2

Level 3

Differentiate between the Islamic world view and secularworld view and how they influence economic ideologiesand systems. Elaborate on the different sources of Islamic laws andcategories of Maqasid al- Shariah and their relation toeconomics. Explain the importance of Islamic teachings, ethics andvalues in understanding Islamic economics. Differentiate between Islamic economics andconventional economics based on selected criteria ofcomparison

Present the Islamic economy and its interconnectedinstitutionsand sectors. Explain key Islamic economic institutions and their keyroles in the Islamic economy. Discuss the distinct features of the regulatory frameworkof the Islamic economy

Explain the roles of the states in the management of theIslamic economy. Discuss issues in the implementation of fiscal, monetaryand development. policies from the Islamic perspectives. Analyse the economic impacts of government policies.

Level 1

Level 2

Level 3

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CCO3 SHARI’AH AND MUA’MALAH

CONTENTS OBJECTIVES

Understanding ShariahSources of Shariah Fiqh and Usul Fiqh Rulings of Shariah (Ahkam Al-Shariah) The Objectives of Shariah (Maqasid Al-Shariah)

Overview of Fiqh Muamalah Islamic Legal MaximTheory of Contract (‘Aqd) Types of Contracts General Prohibition in Muamalah

Requirements of Shariah Contracts in Islamic FinanceSale-based Contracts in Islamic FinanceAl-Ijarah (Lease) Based Contracts in Islamic FinancePartnership-based Contracts in Islamic FinanceSupporting ContractsConclusion

Level 1

Level 2

Level 3

Describe the meaning of Shariah and the relatedconcepts such as fiqh and usul fiqh. Define the relationship between Shariah and itscomponents, its sources as well as the objectives ofShariah. Appraise the application and rulings of Shariah,especially in Fiqh Muamalah or Islamic law oftransactions.

Describe the principles underlying Islamic transactionsanddealings that must be observed in Islamic banking andfinance. Elaborate on the application of Islamic legal maxims inthe context of commercial dealings conducted oroperated by Islamic banking and finance institutions. Explain the theory of Islamic contracts, requirements ofa contract and the types of Islamic contracts.

Describe Shariah contracts and principles underlyingIslamic finance products and services.Explain the application of Shariah contracts in Islamicfinance products and services.Discuss Shariah issues on Islamic finance products andinstruments

Level 1

Level 2

Level 3

CC04 ETHICS AND PROFESSIONAL CONDUCT

CONTENTS OBJECTIVES

Introduction to Ethics Introduction to Professionalism Importance of Ethics and Professionalism in the FinancialServices IndustryComplementary Role of Professionals andProfessionalism Laws and Regulations are Necessary but InsufficientCorporate and Financial Scandals and Unethical Conduct Conclusion

Shariah Principles of Ethics for Islamic Financial Services Ethical Professional Standards for Islamic FinancePractitionersHow Ethics are Inculcated Within an OrganisationPromoting a Shared Ethics Culture Within anOrganisation Strengthening the Communication of Corporate Values Conclusion

Level 1

Level 2

Define the meaning of ethics and professionalism. Identify the different terminologies relating to ethicsand professionalism. Explain the importance of ethics and professionalism inthe financial services industry. Describe example of unethical conducts in financialservices.

Identify the principles of Islamic ethics for financialservices. Explain relevant principles in the codes of ethics forIslamic finance practitioners. Describe the application of code of ethics in Islamicfinancial services industry. Illustrate the factors for developing and sustaining anethical culture within an Islamic financial institution

Level 1

Level 2

Role of Leadership in Developing Culture Ethical DilemmasEthics and Stakeholder RelationsWhistleblowing Customer Privacy and Data ProtectionConclusion

Level 3 Explain the roles of leaders in building an ethical culture Describe actions to be taken in facing ethical dilemmas Identify the role of ethics in the principle of stakeholdersrelations Illustrate the application of whistle blowers and dataprotection

Level 3

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CC05 FINANCIAL STATEMENTS AND ANALYSIS

Finance for Non-Finance Managers 2 Introduction to Financial Management AccountingBasic Ratio AnalysisConclusion

Analysing Financial Activities Analysing Operating activities (Shariah-Compliant andNon-Shariah Compliant) The Accounting and Auditing Organization for IslamicFinancial Institutions (AAOIFI)

Understand types and the accounting implications ofbusiness combinations Explain the basic principles of zakat and taxation

Level 1

Level 2

Level 3

Understand the importance of basic accountingconcepts Understand process and activities performed by theaccounting department Understand the types of Financial Statements and theirusage Understand the application of Ratio Analysis

Understand the different types of selected assets andliabilities based on their importance.Understand the basic accounting treatment of thedifferent types of assets and liabilities based on the IFRS.

Financial Statement Analysis Annual Reports and Statements Understanding the Zakat Principles and Techniques forIslamic Financial Institutions

Level 1

Level 2

Level 3

CONTENTS OBJECTIVES

CC06 DATA ANALYTICS

Data and Data Analytics – A PrimerProbability and Distribution FunctionsDescriptive StatisticsSampling Distribution and CentralLimit TheoremHypothesis Testing

Testing MeansTesting ProportionsTesting VariancesCorrelation AnalysisAnalysis of Variance

Introduction to Regression AnalysisBivariate Regression: Specification and EstimationBivariate Regression: Testing and InferencesMultiple Regression: Specification and EstimationMultiple Regression: Testing and Inferences

Level 1

Level 2

Level 3

Describe data and data generation process and theirbasic statistics.Undertake hypothesis testing to infer characteristics ofpopulations under study and relations between two ormore variables Implement steps in data analysis from statements ofhypotheses to inferences and implications usingregression models Interpret descriptive and inferential statistics generatedfrom the applications of data modelling techniques

CONTENTS OBJECTIVES

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CONTENTS OBJECTIVES

Level 1 GovernanceGuidelines on Corporate Governance In IslamicFinancial InstitutionsOrgans in GovernanceGovernance Principles, Processes and Structure Corporate Governance and Shariah GovernanceConclusionLevel 2 Shariah GovernanceShariah FunctionsFinancial and Non-Financial Reporting Conclusion

Level 1 Describe the importance of governance and itsfundamentals. Describe the various organs of governance in Islamicfinancial institutions. Discuss the governance issues in Islamic financialinstitutions. Identify the generic structure and framework ofShariah governanceLevel 2 Explain Shariah governance framework for Islamicfinancial institutions. Differentiate and understand Shariah governancepractices in different jurisdictions. Discuss the Shariah functions in Islamic financialinstitutions.Explain the financial and non-financial reporting inIslamic financial institutions.Level 3Explain the management of Shariah non-compliance.Explain the importance of enterprise riskmanagement.Discuss and understand the components of internalcontrol.Describe and appreciate the leadership from theIslamic perspective.Discuss and apply the value-based intermediation inpractice.

Level 3 Management of Shariah Non-ComplianceEnterprise Risk Management (ERM)Leadership from the Islamic Perspective Sustainability and Value-Based Intermediation Conclusion

CC07 GOVERNANCE IN ISLAMIC FINANCIAL INSTITUTIONS

CONTENTS OBJECTIVES

CC08 RISK AND REGULATORY COMPLIANCE

Introduction to Risk and Risk Management from theIslamic

Fundamentals of Market Risk Fundamentals of Credit RiskFundamentals of Operational Risk Fundamentals of Liquidity Risk

Guideline, Regulatory and Compliance Risk Bank Secrecy Know Your Customer (KYC) Anti-Money Laundering Act (AMLA) and TerroristFinancingForeign Account Tax Compliance Act (FATCA) Criminal Asset Recovery Order (CARO) Regulatory

Level 1

Perspective

Level 2

Identify the concept of risk and risk managementfrom the Islamic perspective. Explain the philosophy of risk management from theIslamic perspective

Understand the role of laws, regulations and theimportance of banks to comply with variousapplicable laws and regulations Identify the laws and regulations of home and hostcountries Understand the importance of compliance risk. Identify the various types of compliance nature. Discuss the structure and salient features of acompliance framework.Understand the role of the compliancedepartment/officer in managing compliance risks.Relate products to their associated risks.Analyse the best practices in managing compliancerisks.

Level 1

Level 2

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Understand various international standards relatedto sound risk management practicesIdentify the key critical areas, components andmethodologies in designing risk and complianceframework and policies.Discuss the critical success factors to ensure effectiveimplementation of risk and compliance framework,policies

Level 3

Risk and Compliance Policies Compliance Responsibilities

Level 3

CC09 STRATEGIC AND LEADERSHIP

CONTENTS OBJECTIVES

LeadershipLeadership Styles Vision and Mission Strategic Management and Planning Organisational Challenges

Values and CulturesValues Cultures Emotional Intelligence (EI) in Leaders Implementing a Strategy Mergers and Acquisition Conclusion

Level 2

Level 3

Explain the importance of leadership in an organisation. Develop the right team for your organisation.

Explain the importance of culture in an organisation. Understand how culture is developed within anorganisation.

Level 2

Level 3

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REGISTRATION FORM

PACKAGE FEE$ 14,400.00 $ 16,000.00

STAKEHOLDERS NON-STAKEHOLDERS

COMMON CORE MODE OFLEARNINGLEVEL

CC01: Financial System Legal and Regulatory Framework

CC02: Islamic Economics

CC03: Syariah and Mua'amalahCC04: Ethics and Professional Conduct

CC05: Financial Statements and AnalysisCC06: Data Analytics

CC07: Governance for Islamic Financial Institutions

CC08: Risk and Regulatory

*3 - 6 May 2021

*23 July - 5 August 2021IRC - 6 August 2021

*3 - 16 September 2021

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CC01: Financial System Legal and Regulatory FrameworkCC02: Islamic Economics




CC08: Risk and Regulatory CC09: Strategic and Leadership

*15 - 28 October 2021IRC - 29 October 2021

*26 Nov - 9 Dec 2021IRC - 10 December 2021

*7 - 20 January 2022IRC - 14 & 21 January 2022

*18 February - 3 March 2022IRC- 25 February & 4 March 2022

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CC01: Financial System Legal and Regulatory Framework

CC09: Strategic and Leadership

CC02: Islamic Economics




CC08: Risk and Regulatory

*1 - 14 April 2022IRC - 8 & 15 April 2022

*13 - 26 May 2022IRC - 20 & 27 May 2022

*24 June - 7 July 2022IRC - 1 & 8 July 2022

*5 - 25 August 2022IRC- 12, 19

& 26 August 2022

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PROGRAMME FEESTAKEHOLDERS NON-STAKEHOLDERS

$ 3,800.00 $ 4,100.00

$ 5,200.00 $ 5,800.00

$ 6,600.00 $ 7,500.00

*11 - 24 June 2021

EXAMDATE

21 May 2021

2 July 2021

13 Aug 2021

24 Sept 2021

5 Nov 2021

17 Dec 2021

28 Jan 2022

11 March 2022

22 April 2022

3 June 2022

15 July 2022

2 September2022

LEVEL PACKAGE:

FULL PACKAGE

*Online Access via Learning Management System IRC = Intensive Revision Class at BILIF

This package inclusive of level 1, 2 & 3.

+673 246 1221/223

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[email protected]

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The programme fee is inclusive of workshop material(s) and certificate of completion.Payment must be made upon receipt of invoice issued by BILIFBILIF operates a strict NO CANCELLATION POLICY after receipt of registration from organisation.Cancellation or no show would be liable for full payment of the fees. However, BILIF will welcomeand accept replacements.BILIF reserves the right to amend, change or cancel the programme at any given time. We willimmediately notify participants and organisations if any such changes are to be made.

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Stakeholders are participants from MOFE, AMBD and all domestic banks in Brunei Darussalam.

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STAKEHOLDERS

NON-STAKEHOLDERS

Level 1: $3,800.00 Level 2: $5,200.00 Level 3: $6,600.00

NON-STAKEHOLDERS

FEE TYPE LEVEL PACKAGE FULL PACKAGE

$ 14,400.00

Level 1: $4,100.00 Level 2: $5,800.00 Level 3: $7,500.00 $ 16,000.00

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Copy of Syariah Governance - Bilif

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