Shari'a Consultations Executive - CFIB

Role : Shari'a Consultations Executive - CFIB
Location : Abu Dhabi

Role Purpose:

To manage the CFIB Shari’a consultations team, provide Shari’a consultations to CFIB at ADIB Group level and be responsible for reviewing and approving policies and procedures, Shari’a structures and documentations related to their business and transactions. Shari’a consultations and Shari’a review services should be provided in line with the resolutions of Higher Shari’a Authority (“HSA”) and the Internal Shari’a Supervisory Committee (“ISSC”) and in accordance with CBUAE Shari’a Governance Standard.

Key Accountabilities of the role

• Consultations Team”) in Shari’a Consultations Department.

• Improve the skills, performance, and efficiency of the Shari’a Consultations Team, by providing supervision and guidance.

• Improve the turnaround time for providing Shari’a consultations services and develop an automated system (if possible).

• Provide or approve the needed Shari’a structures for CFIB financing transactions.

• Review and approve term sheets of new CFIB financing transactions.

• Review and approve documentation of CFIB transactions, including reviewing and negotiating the comments with external lawyers and other banks Shari’a teams of financing transactions and restructuring facilities.

• Review and approve the financial services provided by CFIB.

• Provide Shari’a compliant restructuring solutions for CFIB defaulted transactions, including reviewing, and approving all related documentation.

• Review and approve new or updated policies and procedures, SOPs, PPG and manuals related to CFIB business.

• Provide the above Shari’a consultations services at ADIB Group level.

• To Backup other heads in Internal Shari’a Control Group.

• Follow up the implementation of the circulated resolutions of HSA and ISSC, related to CFIB business in ADIB Group.

• Coordinate with the concerned units in CFIB to update their policies and procedures to reflect any new resolution issued by HSA or ISSC.
• Raise to Head of Shari’a Consultations Department or Global Head of Shari’a any new Shari’a issues or documents that need the Internal Shari’a Supervisory Committee’s review and approval.
• Provide all Shari’a consultation services, directly or by the Shari’a Consultations Team in line with the resolutions of HSA, ISSC, the CBUAE Shari’a Governance Standard and ADIB’s internal charters and policies.
• Provide the above Shari’a consultation services in an independent approach up to not less than 90%.
  

Specialist Skills / Technical Knowledge Required for this role:

• More than bachelor degree in Shari’a and Law or Shari’a.
• 15+ years’ experience in Islamic banking Shari’a consultations or relevant field.
• Detailed understanding of Shari’a and technical aspects of complex and large corporate finance and capital markets, especially syndications and Sukuk.
• Experience in structuring/restructuring Islamic finance transactions in general and corporate finance transactions in particular.
• Strong ability to review (from Shari’a aspect) the documents of complex and large corporate transactions, especially syndications and Sukuk transactions.
• Strong ability to negotiate the documents of the above with external lawyers and lawyers of international law firms.
• Full knowledge of AAOIFI Shari’a Standards and HSA’s resolutions
• Verbal and written English and Arabic communication skills
• Analytical thinking and teamwork skills.
• Management skills.
  

Previous experience required (if any) 15+ years