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Associate Manager, Shariah Compliance Transactions

2 weeks ago

Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank (IsDB) Full time 100,000 - 120,000 per year

Title: Associate Manager, Shariah Compliance Transactions

Requisition ID: 5514

Overview
Business Unit:
President's Complex
Division:
Shari'ah Affairs
Country:
Saudi Arabia
Location:
IsDB HQ, Jeddah
Job Grade:
M1
Contract Type:
Fixed Term
Closing Date:
22-Dec-2025

Job Purpose
The job holder is responsible for effectively leading all Shari'ah compliance review engagements within IsDB Group to ensure Shari'ah Compliance ex-ante (i.e. before IsDB Group transacts). The role works closely with management in day-to-day operations to ensure Shari'ah compliance. Consequently, the role ensures that all IsDB Group's financing, investment and funding transactions, operations, policies and activities are compliant with the IsDB Group Shari'ah Board's Resolutions and Recommendations in line with the mandate of the IsDB Group Shari'ah Affairs Division (SDiv) and Article 1 of IsDB's founding Articles of Agreement.

Key Accountabilities
Strategic Planning and Implementation:

  • Lead the timely Development & Implementation of the Strategic Objectives of the Shari'ah Review Function.
  • Develop the Annual Work Plan of the Shari'ah Review Function.
  • Undertake any specialized Shari'ah Review engagements directed by the SDiv Manager.

Policies, Processes And Procedures

  • Lead the Shari'ah Review of new or amendment of existing IsDB Group policies, guidelines, processes, rules and regulations etc, (before enactment) to ensure compliance with Shari'ah rules and principles.
  • Monitor new market developments and evaluate their impact upon IsDB Group operations & activities and put-up appropriate recommendations to the Shari'ah Division Manager.
  • Benchmark Shari'ah related best practices by participating in Industry standards (AAOIFI, IFSB, IIFM etc..) exposure draft sessions, international round tables and other events in the field of Islamic banking and finance to bring experiences and best practices of other institutions to IsDB Group and vice versa with robust recommendations to Shari'ah Division Manager.

Shari'ah Consultations
Provides internal consultation based on the IsDB's Group Sharia Board's fatwas and resolutions regarding:

  • Contracts and documents and other aspects related to the financial products and services, including products manual, policies, internal procedures etc.
  • Group (ITFC,ICEIC and ICD) Shari'ah related inquiries and issues.
  • Other Shari'ah issues faced by the IsDB group especially the ones related to structuring and products.

Shari'ah Review

  • Responsible to continuously monitor Islamic Banking businesses and activities compliance with resolutions, fatwas, regulations, standards, which are issued by the Group Sharia Board.
  • Submit Shari'ah compliance report to the Sharia Affairs Manager to look at the technical Shari'ah related matters prior to submitting the same to the Sharia Board.
  • Prepare annual Shari'ah review plan, conduct internal Shari'ah reviews under the guidance of Manager- Sharia Affairs Division for businesses and operations.

Knowledge Sharing And Innovation

  • Conducts training for bank's staff on aspects of their duties related to Islamic business compliance with Islamic Shari'ah.
  • Also provides adequate training for the staff on what they need to be equipped with from information and skills, depending on nature of work of each employee, to ascertain that the bank complies with Islamic Shari'ah at all times.
  • Lead the provision of Shari'ah guidance on technical Islamic Finance Matters or Trainings to IsDB Group Clients/Member Countries on a needs basis to promote the developmental initiatives of IsDB Group.

Reporting And Communication

  • Participate in the preparation of periodic reports, briefings, and presentations for Management.
  • Participate in the presentation of findings of the Shari'ah reports to various stakeholders such as, President of IsDB, IsDB Group Shari'ah Board, BED's and BOG's.

Operational Excellence And Administration

  • Ad-hoc assignments of IsDB Group Shari'ah Affairs Division (SDiv).
  • Supervise, coach and mentor subordinates.
  • Propose and implement process improvements within SDiv to increase efficiency, effectiveness, budget control and compliance of the related operations.

Academic And Professional Qualifications

  • Master's degree in Islamic Banking and Finance or related fields. (PhD in Islamic Banking would be an added advantage).
  • Certificate in Shari'ah Advisor and Auditor (CSAA) from AAOIFI.
  • Minimum 10 years of relevant experience in Islamic Finance/Shari'ah compliance preferably in international organizations.
  • Three (3) years managerial experience.
  • Languages: English: Mandatory l Arabic: Mandatory l French: Preferred

Skills & Necessary Knowledge

  • Well versed in Islamic Fiqh/ Fiqh al Mu'amalat
  • Proven competence in Shari'ah rules and principles
  • Problem Solving & Negotiation
  • International Shari'ah & Shari'ah Governance Standards
  • Research and Analysis
  • Review Operations
  • Bank Knowledge
  • MS Office skills

About Application Process
If you meet the criteria and you are enthusiastic about the role, we would welcome your application. To complete the application you would need the following document(s):

  • Resume/CV
  • Copy of passport
  • Academic certificate

If you are currently an IsDB Regular staff applying for this role and get selected through the competitive selection process; your current contract type and other terms and conditions will remain unchanged.

The Islamic Development Bank (IsDB) does not ask for payments of any kind from applicants throughout the recruitment process (job application, CV review, interview meeting, and final processing of applications). In addition, the IsDB does not request information on applicants' bank accounts. The IsDB declines all responsibility for the fraudulent publications of job posts or job offers in its name or, in general, for the fraudulent use of its name in any way whatsoever.