Opportunity Information
1
Bank/ Digital Bank/ Microfinance Bank/ Financial Institution
Experienced Professional
Regular/ Full Time
Karachi
PLHC Head Office, Karachi
The Role
Pak-Libya Holding Company is seeking a qualified and experienced Shariah Advisor to provide independent Shariah guidance, supervision and oversight of the Company's Islamic finance activities, in accordance with applicable regulatory requirements and the SBP Shariah Governance Framework. Full-time position based at the PLHC Head Office, Karachi.
•Provide independent Shariah guidance and supervision for all Islamic finance activities and operations of the Company •Review, vet and approve Islamic finance products, structures, transactions, agreements, term sheets, process flows and related documentation from a Shariah perspective •Review relevant policies, product manuals, SOPs, process flows and operational guidelines for Shariah compliance •Issue Shariah rulings and clarifications on products, transactions and matters referred for Shariah guidance, including fatwa •Guide the structuring of Shariah-compliant financing, investment, treasury and other financial transactions •Oversee and guide the Shariah Compliance function, including review of Shariah compliance observations, corrective actions and related reports •Advise on rectification of Shariah non-compliance and purification/ disposal of Shariah non-compliant income, where applicable •Review relevant systems, controls and operational processes from a Shariah perspective •Provide Shariah guidance and clarification to the Board, Management and relevant departments •Review and respond to Shariah-related regulatory observations, submissions and queries, including matters raised by SBP •Conduct and oversee Shariah and Islamic Finance training and awareness programs for relevant personnel •Have access to relevant records, documents, information and personnel necessary to effectively discharge Shariah advisory and oversight responsibilities •Perform such other responsibilities as may be assigned to the Shariah Adviser under the applicable SBP Shariah Governance Framework and regulatory requirements
Applicants General Eligibility & Requirements
4+ years
Education, Experience and Skills Requirements
- Masters: Shariah and Islamic Law
•Minimum four (4) years' experience in giving Shariah rulings (Ifta), including the period of Takhassus fil Ifta; OR •Minimum five (5) years' post-qualification experience in teaching or Research & Development in Islamic Banking and Finance Preferred: Prior experience as a Shariah Adviser, member of a Shariah Board, or in a Shariah Governance/ Compliance function within an Islamic Financial Institution (IFI) or Development Finance Institution (DFI)
Arabic, Fiqh & Usul al-Fiqh, SBP Shariah Governance Framework, Islamic Banking & Finance, Legal Documentation
•Takhassus fil Fiqh/ Takhassus fil Ifta and/ or recognized professional qualifications/ certifications in Islamic Finance and Shariah, including AAOIFI CSAA or INCEIF CIFP
- Arabic (Speaking: Native/ Fluent, Reading: Native/ Fluent, Writing: Native/ Fluent)
- English (Speaking: Native/ Fluent, Reading: Native/ Fluent, Writing: Native/ Fluent)
•Mufti qualification/ Takhassus fil Ifta from Wafaq ul Madaris •Shahadatul Almiya fil Uloom al Arabia wal Islamia from an HEC-approved/ recognized Deeni institution, with HEC equivalence where applicable; or recognized Mufti qualification from a recognized institution •Shahadat ul Aalamiyyah (Dars-e-Nizami) or similar degree from a recognized institution/ Board of Madaris, along with a Bachelor's Degree from a recognized university; OR •Postgraduate Degree in Kuliyyatush Shariah, Kuliyyah Usuluddin, LL.M. (Shariah) or equivalent from a recognized university; OR •Shariah Scholar serving as a member of the Shariah Board/ Committee of an internationally reputed organization operating in another jurisdiction •Appointment shall be subject to prior formal approval of the State Bank of Pakistan (SBP) and compliance with the applicable SBP Fit & Proper Criteria and Shariah Governance Framework •The selected candidate must satisfy all applicable independence, eligibility and conflict-of-interest requirements prescribed by SBP
Salary, Compensation & Benefits
PKR 0/ month (Attractive and market-based remuneration package with fringe benefits commensurate with qualification, skills and experience)
Application
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About the Employer
Pak- Libya Holding Company (Pvt.) Limited (PLHC)