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  • RM-7.3 RM-7.3 Operational Considerations

    • RM-7.3.1

      Islamic bank licensees must implement a comprehensive and sound framework for developing and implementing a prudent control environment for the management of operational risks arising from their activities.

      January 2013

    • RM-7.3.2

      The framework referred to in Paragraph RM-7.3.1 should be consistently implemented throughout an Islamic bank licensee's organisation and understood by all relevant staff.

      January 2013

    • RM-7.3.3

      Islamic bank licensees should conduct periodic reviews to detect and address operational deficiencies. The reviews and evaluation of internal controls should include independent audit coverage and assessment by internal and/or external auditors.

      January 2013