IDB2259 - Islamic Finance Specialist

  • Business Unit
    Operations Complex
  • Division
    Not Applicable
  • Department
    Islamic Financial Sector Development
  • Country
    Saudi Arabia
  • Location
    Saudi Arabia - Jeddah
  • Job Grade
    7
  • Contract Type
    Conditional Regular (Indefinite) Employment
  • Closing Date
    10-Mar-2019
Role Purpose

To develop and structure innovative Islamic Financial products to meet the needs of Islamic Financial industry in the Mcs and non MCs; conducting advanced analysis perform necessary simulation and modelling. The role also requires to:

  • Conduct market analysis- including identifying gaps in Islamic financial products and services, product development and related processes in the industry.
  • Develop and structure innovative Islamic financial products to meet the needs of Islamic Financial industry.
  • Develop sharia compliance framework for the new product

Key Accountabilities (not exhaustive list)

Operational Planning

  • Provide input in development of annual plan and budget allocation for the division/ department.

Product Development 

  • Undertake surveys of the Islamic financial industry and conventional financing as part of the development process of new IFPs and instruments. 
  • Assess the existing IFPs and instruments used in the Islamic Finance Industry for their continuous performance monitoring and improvement. 
  • Develop new IFPs such as new types of Sukuks, for Member Countries, Islamic financial institutions, and other private sector entities, structured finance, liquidity management, hedging, etc. 
  • Conduct post-implementation assessments of new IFPs developed by the Islamic Finance Product Development Unit by the industry participants 
  • Collaborate with the IDB’s internal product development team in the Financial Policies, Planning and Analytics team for their development of new funding and financing products for IDB. 

Promotion 

  • Contribute to policy dialogue in coordination with member countries for development of the Islamic Finance, promoting intra-regional Islamic financial integration in coordination of the concerned departments.
  • Contribute to training programs on Islamic Economics, Banking and Finance.

Knowledge sharing & Innovation

  • Contribute to promoting the role and efforts of the Islamic Infrastructure institutions for overall development of Islamic Finance.
  • Provide advice and technical services to peers and colleagues, divisions and departments in  Islamic Finance related issues.
JOB REQUIREMENTS
Academic qualifications
  • Bachelor’s degree in Finance/Islamic Finance/Sharia or related field.

Required languages

  • English (mandatory)
  • French (preferred)
  • Arabic (preferred)

Minimum number of years and nature of experience

• 7 years of experience in Islamic finance advisory/product development, 3 of which should be in a multilateral development bank.

OR
• 5+ years of experience in Islamic Finance Services 3 of which should be in a multilateral development bank.

Job specific competencies

  • Advance Islamic finance Advisory and Technical Assistance/product development/ knowledge.
  • Advanced Islamic Finance/product development/Sharia knowledge.
Location
Jeddah, Head Office
Travel requirements
20% or more depending on requirements 
About Application Process

If you meet the criteria and you are enthusiastic about the role, we would welcome your application. To complete the application you would need the following document(s):

  1. Resume/CV
  2. Passport-size photograph