Institutional Information System (IIS)

BR-4A.2.1

[This Paragraph was deleted in April 2022].

BR-4A.2.2

[This Paragraph was deleted in April 2022].

BR-4A.3.1

Unless specifically excluded in accordance with Paragraph AU-3.7.3, every Islamic bank licensee must submit to the CBB within three months from the financial year-end, a report as to the bank's compliance with the remuneration Rules outlined in Chapter HC-6.

BR-4A.3.1A

Where a Islamic bank licensee is not required to provide a report under Paragraph BR-4A.3.1, it must submit a notification to the CBB once it has been determined that it is excluded to file such report as per Paragraph AU-3.7.3.

BR-4A.3.2

The report required under Paragraph BR-4A.3.1 must be prepared by the bank's external auditor or a consultancy firm approved by the CBB.

BR-4A.3.2A

For a consultancy firm to be approved by the CBB for purposes of this Section, the conventional bank licensee should communicate with the CBB's supervisory point of contact for seeking the CBB's prior written approval.

BR-4A.3.3

The format of the Report required under Paragraph BR-4A.3.1 is included in Part B of the Rulebook as Appendix HC-(i), as part of the Supplementary Information.

BR-4A.4.1

Banks must complete Appendix BR-15, details of their top 12 highly remunerated employees annually for each financial year. This report is to be completed by the bank within three months from the end of the period covered and kept at the bank's premises and provided to the CBB, upon request.

BR-4A.5.1

For the purpose of onsite inspection by the CBB, Islamic bank licensees must submit requested documents and completed questionnaires to the Inspection Directorate at the CBB three working days ahead of inspection team entry date.

BR-4A.5.2

Islamic bank licensees must review the contents of the draft Inspection Report and submit to the Inspection Directorate at the CBB a written assessment of the observations/issues raised within fifteen working days of receipt of such report. Evidentiary documents supporting management's comments must also be included in the response package.

BR-4A.5.3

Islamic bank licensees' board are required to review the contents of the Inspection Report and submit within one month, of the report issue date, a final response to such report along with an action plan addressing the issues raised within the stipulated timeline.

BR-4A.5.4

Banks failing to comply with the requirements of Paragraphs BR-4A.5.1 and BR-4A.5.2 are subject to date sensitive requirements and other enforcement actions as outlined in Module (EN) Enforcement.

BR-4A.6.1

Islamic retail bank licensees must report on the availability and performance of Open Banking APIs in accordance with Appendix PD-6 within one month of each quarter end.

Islamic Retail Bank Licensees acting as AISPs/PISPs

BR-4A.7.1

Islamic bank licensees must submit to the CBB at least three weeks prior to the prudential meeting date, all compliance and internal audit reports issued since the last prudential meeting along with status updates on resolved and pending issues.