The Securities Commission Malaysia (SC) introduced the Sustainable and Responsible Investment (SRI): Islamic finance assignment, UiTM, Malaysia

FAR 730 – GROUP PROJECT

Presentation 20 minutes and 5 minutes Q&A

1. The Securities Commission Malaysia (SC) introduced the Sustainable and Responsible Investment (SRI) Sukuk framework (the Framework) in 2014 to facilitate the creation of an ecosystem that promotes sustainable and responsible investing for SRI investors and issuers.

• Choose one Shariah compliant institution and demonstrate how the institution comply with requirement of reporting as one of the key component of SRI Sukuk Framework.
• Explain how sustainable, responsible and impact investment relate to Islamic finance.  

2. Bank Negara Malaysia issued the “Value-based Intermediation Financing and Investment Impact Assessment Framework – Guidance Document” (VBIAF) to facilitate the implementation of an impact-based risk management system for assessing the financing and investment activities of Islamic financial institutions in line with their respective VBI commitments. The VBIAF also serves as a reference for other financial institutions intending to incorporate environmental, social and governance (ESG) risk considerations in their own risk management system.

• Choose one Shariah compliant institution and demonstrate how the institution comply with the requirement of VBIAF.
• Explain how Islamic finance VBI facilitate sustainable development goals.

3. Sustainability Reporting Guide issued by Bursa Malaysia to aid an organisation in preparing Sustainability statement in accordance with the Listing Requirements of Bursa Malaysia Securities Berhad.

• Choose one Shariah compliant institution and demonstrate how the institution comply with the disclosure obligations of the Sustainability Reporting Guide.
• Explain sustainability from Islamic perspective.

4. The 2030 Agenda for Sustainable Development,adopted by all United Nations Member States in 2015, provides a shared blueprint for peace and prosperity for people and the planet, now and into the future.

• Choose one Malaysian Islamic banks and demonstrate how the bank practice their social responsibility disclosure.
• Explain determinants of Islamic social reporting in Islamic banks.

5. The Shariah Governance Policy Document (SGPD) 2019 issued by BNM on 19 September 2019 strengthened the oversight accountabilities of the Board ofDirectors, the Shariah Committee and other key organs who are involved in the implementation of Shariah governance. By implementing SGPD 2019, it is expected that IFIs to have a better arrangement in supporting a strong Shariah compliance risk culture based on the active roles of Board of Directors, Shariah committee and senior management.   Governance of Shariah compliance institutions is founded on the epistemological aspects of tawhid and the associated Shariah rules and principles.

• Choose one Malaysian Islamic bank and demonstrate how the bank show commitment towards tawhidic epistemology and shuratic process in their annual report.
• Explain factors of effective shura between Islamic banks and their collaborators. 

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