About The Role

Job Purpose

Advise on Shari’ah compliance of Structures and Facility Documents of Islamic deals including Sukuk considering applicable Higher Shariah Authority UAE – CB regulations, AAOIFI Shariah standards, ISSC guidelines and Supervisor’s instructions.

Key Result Areas

Deals & Sukuk

Advise the most appropriate Shari’ah structure for a given transaction, considering the overall dynamics of the deal, considering applicable Higher Shari’ah Authority UAE – CB regulations, AAOIFI Shari’ah standards, ISSC guidelines and Supervisor’s instructions.
Support and liaise with internal & external legal counsels during drafting of facility documents for accurate articulation of Shari’ah Compliance concerns in different relevant clauses.
Support and liaise with counterparts in other Islamic Banks in syndications and club deals to mutually resolve all points of disagreement till a final draft can be developed.
Perform the above listed activities for all the bespoke/customized bilateral transaction, syndications and DCM market as well (Sukuk) generated across the bank.
Assist Line Manager in presentations to the ISSC for procuring necessary approvals on the recommended solutions and documentation suite.
Approach Executive Member or ISSC to present concepts and documents, procure the required approvals and respond to ISSC’s queries as and when required.
Exhibit strong command on the local and regional regulations pertaining to Islamic Banking and ensure compliance of regulations in day-to-day work.

Standard Products

Provide Shari’ah advisory on new Islamic products on recommendation of product team and business units from CIBG, IBG, & TCM
Review and obtain approval of product contracts/ documents related to Islamic products.
Ensure business/ product queries on day-to-day banking activities related to Shari’ah matters are timely addressed.
Coordinate with business/ product and Legal team for preparation of legal documents or amendments to the existing documents in light of the Shari’ah compliance requirements.
Conduct document & SOP mapping related to Shari’ah sensitivities for each Shari’ah contract and provide the list of possible action items.
Review of Digital Journey screens for each product from Shari’ah perspective and to ensure implementation of related guidelines issued by the Internal Shariah Supervision Committee.
Work closely with Business and IT teams for the development of Digital Journey screens related to each product (liability and asset side) and guide the process from Shari'ah perspective
E Learning maintenance & refresh as required

Training

Wholesale related training in the annual training plan
Training for new product launches

Operating Environment, Framework and Boundaries, Working Relationships

Treasury/ Wholesale /Retail relationship teams
Investment Banking
Internal & External Legal.
Counterparts in other Islamic Financial Institutions
Bank policies
AAOIFI Shariah Standards and ISSC guidelines

Problem Solving

Efficiently complete assigned tasks without compromising on Shariah Compliance
Come up with innovative out of the box solutions without compromising on Shariah Compliance

Decision Making Authority & Responsibility

Shariah Approval authority as delegated by the Head Islamic Finance: Advisory & Shari’ah Controls/ISSC

Knowledge, Skills and Experience

Bachelors degree/Professional qualification in commerce/business/banking.
Certification/Qualification in Islamic Banking preferably AAOIFI’s certifications
Significant exposure to Shari’ah principles via studies, courses or extensive on the job learning.
Extraordinary attention to detail is required.
Strong communication skills: as Bank wide interaction on technical issues is required.
Command on MS office.
Minimum Ten years’ experience with seven years relevant experience of Islamic Financial sector (FIs, Accounting & Auditing Firms)