IDB2248 - Islamic Finance Specialist - Shari’ah Compliance

1) Strategic & Operational Planning

• Provide technical inputs into development of Annual Work Plans and budget preparation for the Shari’ah compliance activities.
• Undertake any matters related to the functions of the IsDB Group Shari’ah Board assigned to him by the Head, Shari’ah Compliance Section.

2) Policies & Procedures

• Compile resolutions and recommendations of the Group Shari’ah Board, review and supervise their translation into working languages of the Group (English Arabic and French).
• Advise various stakeholders on the implementation and interpretation of Shari’ah compliance policies and procedures

3) Shari’ah Review and Compliance  

• Full ability and experience to review Shari’ah matters submitted to the Shari’ah Board.
• Participate in discussing the structures of contemplated financing operations and advise the concerned department on the appropriate structure to implement the operation in accordance with the Shari’ah Board’s resolutions.
• Communicate and answer on day to day inquiries and questions from the staff members working on any project to ensure its compliance with Shari’ah Principles.
• Assist both Shari’ah Review and Shari’ah Audit functions in carrying out their duties. 
• Review new forms of agreements and contracts in light of resolutions of the Shari’ah Board prior to their execution by stakeholders of the IsDB across the Group.
• Prepare agendas for the meetings of the Shari’ah Board based on issues and topics submitted by the IsDB Group or members of the Shari’ah Board and presentation of the same to the Head, Shari’ah Compliance Section for further processing.

4) Shari’ah Advisory

• Assist to provide technical guidance to legal counsels with respect to advising and assisting client departments in the structuring of projects, finance and investment transactions and undertake review of concept notes, appraisal reports, board documents etc.
• Participate in product development initiatives and provide Shari’ah opinion based on resolutions and recommendation of the Group Shari’ah Board

5) Knowledge Sharing & Innovation

• Provide technical guidance to less experienced staff members.
• Disseminate knowledge on matters related to Shari’ah compliance within the IsDB Group.
• Participate in preparation of high level evaluation papers for accountability and dissemination of knowledge within the IsDB Group and in the member countries to contribute in the improvement of development effectiveness of IsDB Group interventions.
• Communicate and share information, reports and feedback with concerned parties and key stakeholders through internal and external communication channels including publications of selected evaluation reports.
• Conduct trainings and workshops for member countries’ institutions to share knowledge and contribute to capacity building in development evaluation.

6) Reporting & Communication

• Assist in maintaining relationship with the Group members.
• Inform the concerned authorities of resolutions and recommendations after their adoption by the Group Shari’ah Board and obtaining reports of the Internal Shari’ah Auditor on the implementation of the resolutions and submission of the same to the Shari’ah Board or its Sub-Committee as an agenda item. 

 Academic qualifications

• Bachelor’s Degree in Shari’ah, (Islamic Law) / Islamic Banking and Finance or any related Shari’ah field.
• Master’s Degree in Shari’ah, (Islamic Law) / Islamic Banking and Finance or any related Shari’ah field is preferred.
• Certified Shari’ah Advisor and Auditor (CSAA) from AAOIFI is recommended

 Languages

• English (Mandatory)
• Arabic (Mandatory)
• French (Preferred)

Minimum number of years and nature of experience

•  5-7 years of relevant experience in Shari’ah compliance.
• Shari’ah compliance review in a similar environment.
• Negotiation and investigation.
• Ability to use Shari’ah-accepted methods of deriving Shari’ah ruling on emerging issues.
• Proven competence in Shari’ah rules and principles governing Islamic Banking and Finance.

Job specific competencies

• Knowledge, Learning and Communication
• Problem Solving
• Stakeholder Management/Client Orientation
• Teamwork
• Bank Knowledge
• Islamic Finance
• IsDBG Financing Instruments
• Legal Service Delivery
• Regional Law and Shari’ah Compliance
• Investigative Research and Analysis
• Audit Operations
• Policies and Procedures