Job Description

Roles & Responsibilities

Job Requirements:

Hold a university degree in Islamic Shariah or a relevant specialization.
Possess a professional certification in Islamic finance and/or Client’s, such as AAOIFI, CIBAFI, in addition to a recognized professional insurance certificate issued by a local or international organization.
Have at least 10 years of experience in Shariah supervision within Islamic Financial institutions including at least 5 years Shariah supervision in Client’s insurance.
Excellent proficiency in both English and Arabic.

Desired Candidate Profile

Governance & Compliance

Ensure that the company’s operations, contracts, and product offerings comply with the principles of Islamic Shariah.
Develop and oversee the implementation of a comprehensive Shariah governance framework in line with Central Bank standards and AAOIFI guidelines.
Monitor the implementation of Fatwas, guidelines, and decisions issued by the ISSC.
Identify any Shariah non-compliance issues and recommend appropriate corrective actions.

ISSC Secretariat & Liaison

Act as the secretary and coordinator for the Internal Shariah Supervision Committee.
Prepare and submit documentation and reports for ISSC meetings.
Ensure timely execution of ISSC resolutions and provide periodic reports to senior management.

Shariah Consultation and Research

Provide expert Shariah consultation to various departments, particularly in underwriting, investment, claims, and product development.
Conduct Shariah research to support innovation and ensure alignment with contemporary Islamic finance practices.
Contribute to the development of new Shariah-compliant concepts and business strategies.

Shariah Reviews & Audits

Lead periodic Shariah reviews and audits to evaluate compliance in underwriting, investments, re-Client’s, claims processing, and all operational activities.
Identify Shariah non-compliances and propose corrective measures.

Product Review & Approval

Review and approve new and existing Client’s products and services from a Shariah perspective.
Work closely with the Product Development and Legal departments to ensure all documentation (contracts, policies, brochures) align with Shariah rulings.

Training & Awareness

Conduct internal training programs and awareness sessions for staff on Shariah compliance and Client’s principles across the Company.

Regulatory Reporting

Ensure timely submission of all required Shariah compliance reports to the Central Bank and other regulatory authorities.
Keep abreast of regulatory changes and ensure the company’s Shariah practices are aligned with updated laws and guidelines.

Sharia Compliance SUNDUS MANAGEMENT CONSULTANCY & STUDIES BUREAUL.L.C