• 2.6.7 Sharia compliance


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    Description of role

    Responsible for Sharia compliance and the ability to maintain update and where appropriate establish Sharia compliant policies and procedures for the bank.     

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    Core skills

    • Ability to provide up-to-date and authorisation insights into regulatory developments and their implications
    • Ability to understand, interpret and advise on various regulatory requirements, restrictions and limits
    • Ability to analyse and research international practices surrounding QFMA regulations
    • Ability to develop and maintain effective relationships with regulators, board of directors, Sharia board, senior management and auditors
    • Understanding of profile of compliance risks, compliance risk management framework, tools, systems and methodologies
    • Ability to deal with and mitigate compliance risks with regard to Islamic finance
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    Qualification and/ or certification

    • QFSQF Level 3
    • Professional certification desirable (e.g. Chartered Internal Auditor)
    • Relevant experience

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    Industry knowledge

    • Knowledge of Islamic financial markets products and services
    • Knowledge of Sharia compliance concepts

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    Regulatory compliance of role

    • Knowledge of QFMA laws and regulations