Shariah Manager at I&M Bank

Job Purpose:

• The Internal Shariah Manager is responsible for ensuring that the Islamic Banking Window operates fully in compliance with Shariah principles as advised by the Shariah Advisory Committee (SAC).
• This role involves reviewing products, policies, transactions, and processes; guiding Shariah compliance; coordinating with the SAC; and ensuring regulatory compliance with Islamic banking guidelines.

Key Responsibilities:
Shariah Compliance & Governance:

• Review and certify Islamic banking products, processes, and documentation to ensure compliance with Shariah principles.
• Develop and maintain the internal Shariah compliance framework, policies, and procedures.
• Liaise with the Shariah Advisory Committee (SAC) and ensure implementation of their resolutions and fatwas.
• Ensure Shariah compliance across all departments of the Islamic Banking Window (retail, corporate, operations, treasury, etc.).

Review & Advisory Role:

• Provide ongoing Shariah advisory support to management and staff.
• Review contracts, marketing materials, and product manuals for Shariah compliance.
• Advise on structuring new Shariah-compliant products and services.

Audit, Monitoring & Reporting:

• Conduct regular Shariah compliance reviews, internal audits, and monitoring of Islamic banking operations.
• Prepare reports for the Shariah Advisory Committee and manage Shariah Committee meetings.
• Prepare periodic shariah committee reports to the Committee to inform on matters discussed and resolutions passed by the shariah Committee.
• Identify Shariah non-compliance incidents, propose corrective measures, and monitor their implementation.
• Ensure annual Shariah audit is properly conducted and documented.

Training & Awareness:

• Develop and deliver training programs to enhance Islamic banking knowledge among staff.
• Promote awareness of Shariah compliance culture within the bank.

Academic Qualifications:

• Degree in Islamic Finance, Shariah Studies, Islamic Banking, Economics, or related discipline.

Work Experience Required:

• Minimum 5–8 years of experience in Islamic banking, preferably in Shariah compliance or advisory roles.
• Strong knowledge of Fiqh al-Muamalat (Islamic commercial jurisprudence).
• Familiarity with regulatory requirements for Islamic banking and Shariah governance frameworks.
• In-depth understanding of Products, policies and regulations.
• Good undertaking of the competition and regulatory landscape.
• Professional certifications such as CSAA (Certified Shariah Advisor & Auditor – AAOIFI) or equivalent preferred.

Competencies:

• Strong knowledge of Islamic finance contracts (Murabaha, Ijarah, Mudarabah, Musharakah, Istisna, Sukuk, etc.).
• Analytical and problem-solving skills to identify compliance issues and solutions.
• Strong communication and report-writing skills.
• Ability to engage with Shariah scholars, regulators, and business teams.
• High ethical standards and commitment to Shariah integrity.