About the Role:
The Associate Sharia Consultation Executive is responsible for providing and assisting with Shari’a consultations to Global Transaction Banking (GTB), Financial Institutions (FI), and Trades at the Group level. This role involves reviewing and assisting with policies and procedures, Shari’a structures, products, and documentation associated with their business, ensuring compliance with the resolutions of the Higher Shari’a Authority (HAS) and the Internal Shari’a Supervisory Committee (ISSC), as well as aligning with the CBUAE Shari’a Governance Standard.
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Key Accountabilities:
- Act as a Shari’a consultant for all inquiries and matters related to GTB, FI, and Trades business within the Group.
- Review all new structures and products of financing, fund acquisition, and services offered or utilized by the GTB, FI, and Trades business at the Group level.
- Review policies and procedures (Standard Operating Procedures and Product Program Guidelines) related to products, transactions, and services provided or used by GTB, FI, and Trades business.
- Review all types of documents and forms related to products, transactions, and services pertinent to GTB, FI, and Trades business.
- Review IT systems from a Shari’a perspective as they relate to GTB, FI, and Trades business.
- Review promotions, marketing materials, and publications related to the mentioned business areas from a Shari’a perspective.
- Provide effective Shari’a advisory and continuous support on any emerging Shari’a issues that could impact day-to-day operations of the aforementioned business activities.
- Conduct Shari’a consultations and reviews in accordance with the resolutions of HAS, ISSC, and the CBUAE Shari’a Governance Standard, alongside the company’s internal charters and policies.
- Maintain an independent approach to consultations and reviews, ensuring independent input constitutes no less than 60-75% of the work.
- Ensure professional behavior and a positive attitude in all interactions.
- Perform any additional tasks assigned by the line manager.
Specialist Skills / Technical Knowledge Required:
- Bachelor’s degree in Islamic Studies or an equivalent qualification in Islamic banking and finance.
- High level of knowledge of AAOIFI Shari’a Standards.
- Proficient verbal and written communication skills in both English and Arabic.
- Strong analytical thinking and teamwork skills.
- Proficient in MS Office programs.
Previous Experience Required:
- 12+ years in the Islamic banking industry, including at least 5+ years in a similar role.
