Shariah Board Member

About FMFB-A:

As a background, FMFB-A started its operation in 2004, and is part of the Aga Khan Agency for Microfinance (AKAM), which has financial institutions operating in different countries throughout the world. It is affiliated with the Aga Khan Development Network (AKDN), a group of development agencies working in health, education, culture and rural economic development.

Job Details:

Position Duties and Responsibilities:

• Performing an oversight role on Shariah matters related to the Bank’s Islamic operations and activities through the observations and reports from the Shariah Department by identifying possible Shariah issues, if any, and proposing the necessary corrective measures.
• Providing Shariah compliance across all products, services, and operations of the institution.
• Assisting the Management or any related party thereof in overseeing the enforcement and implementation of the Shariah Board resolutions.
• As the Shariah Board member has the responsibility to disclose sufficient information on the Bank’s state of compliance in its annual financial report as per the requirements under applicable laws during the tenure of the Shariah Board’s appointment.
• Providing clarifications and opinions and where relevant, issue resolutions on matters pertaining to both generic and specific issues associated with Shariah principles that require a Shariah opinion.
• Approving all products, manuals, policies and procedures submitted by Shariah Department.
• Performing an oversight role on any Shariah matters post-approval to ensure that all of the Shariah requirements as set out in its guidelines and resolutions are followed by the Bank.
• To be the sole point of reference and highest authority in all Shariah matters relating to banking and finance.
• To advise on such other functions as may be prescribed by DAB from time to time only about Shariah matters.
• Issuing opinions on how the Banks should address and rectify any Shariah non-compliant practices.
• In addition to the abovementioned duties and accountabilities, the members of the Shariah Board are expected to observe other relevant provisions herein contained.
• Other duties and accountabilities of the Shariah Board and the governing operation procedures for the Shariah Board shall further be spelt out in the terms of reference (hereinafter referred to as “TOR”) of the Shariah Board and the Bank.

Job Specifications:

Education:

Candidates must possess at least a bachelor’s degree in Shariah from a recognised university

Experience:

• At least three years of experience in bank operations or business, or a minimum of five years of full-time teaching experience in “Fiqh al-Muamalat” (Islamic commercial jurisprudence) or “Usul al-Fiqh” (the principles of Islamic jurisprudence).

Certification:

• Certification: CSAA of AAOIFI will be an added plus. 

Skills & Competencies:

• Excellent written and verbal communication Skills.
• Proficiency in national language/s and English.

Submission Guideline:

If you meet the above requirements, we are encouraging you to apply for this position. Please send us your CV along with a cover letter via email at executive.vacancy@fmfb.com.af  and cc info.bsd@dab.gov.af

Please make sure that your email includes the vacancy ID as the subject line.