REDmoney Seminars Presents Hajah and Darurah

Date: 25 Sept 2023
Location: Kuala Lumpur


Hajah and Darurah are increasingly important principles in Islamic finance. Literally translated as ‘need’ and ‘dire necessity’, Hajah and Darurah represent an important and fundamental shift in the thinking surrounding the development and provision of Islamic financial products. Implications for Islamic financial institutions could potentially be far-reaching, with the most significant effects being seen in Shariah, product development, risk management, credit, and recovery.

Following the release of Bank Negara Malaysia’s proactive late-2022 Exposure Draft, it is clear the implementation of Hajah and Darurah is now very much on the regulatory radar. As such, what do banks, Takaful companies and other Islamic financial institutions need to know, and what are the key operational issues of implementing Hajah and Darurah into business lines and product offerings? What is the position and role of risk and Shariah, and how are Hajah and Darurah likely to influence product development and risk management?

In this concise, one-day session we will identify real-life issues, questions and challenges associated with the implementation of Hajah and Darurah. More importantly, the program will offer practical solutions for Islamic financial institutions looking to understand more about the application and implementation of Hajah and Darurah.


Session 1: Introduction to Hajah and Darurah – Definitions, Concepts and the Regulatory Environment

Session 2: Governance, Operational Issues and Practical Implementation of Hajah and Darurah within an Islamic Financial Institution

Session 3: Key Shariah Parameters and Issues for the Implementation of Hajah and Darurah

Session 4: Examples of Applying Hajah and Darurah to Islamic Financial Product Structures


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