Shariah Review Officer
- Post Date:November 5, 2022
- Views 43
- Career Level OfficerExperience 4 YearsGender Male
- Industry BankingQualification Bachelor DegreeSalary As per Organization Salary Scale
- Number of Opportunities 1Vacancy Number FMFB-HR-0112-2022Location Kabul
The First Microfinance Bank – Afghanistan.
The First Microfinance Bank – Afghanistan (FMFB-A) started its operation in 2004 and is part of the Aga Khan Agency for Microfinance (AKAM), which has financial institutions operating in over 15 countries throughout the developing world. It is affiliated with the Aga Khan Development Network (AKDN), a group of nine development agencies working in health, education, culture and rural economic development primarily in Asia and Africa.
Our primary objective in Afghanistan is to contribute to poverty alleviation and economic development through the provision of sustainable financial services to the poor and underserved. Since 2016, we are a member of the Global Alliance for Banking on Values (GABV) – an independent network of the banks using finance to deliver sustainable economic, social and environmental development. Our values- based banking agenda focuses on providing affordable financial services that promote entrepreneurship, agriculture, incremental housing and clean energy in Afghanistan.
FMFB-A sought to consolidate its position as Afghanistan’s leading financial service provider. As of December 2021, FMFB-A with over AFN 4 billion (61% market share) is the market leader in terms of Portfolio. The bank has over 230,000 active clients – including the borrowers and savers who do not necessarily save to accumulate assets but often seek to smooth consumption when a family’s income is irregular.
The Shariah Review officer shall cover the review of the adequacy of the Shariah governance process of the Shariah Compliant business activities and operations of the Bank with reference to the established Shariah criteria, the Shariah Review officer shall conduct the examination of the adequacy and effectiveness of the system of internal Shariah control and the quality of performance in carrying out assigned responsibilities. The Shariah Review shall assess and reasonably assure that the formal reporting channel on Shariah matters is carried out effectively and in a timely manner.
Duties & Responsibilities:
- Providing regular assessments on Shariah compliance in the activities and operations of the Bank with the objective of ensuring the activities and operations carried out by the Bank does not contravene Shariah principles.
- Conducting Shariah compliance reviews of key business areas on a sample and test check basis.
- Review of the adequacy of the Shariah governance process of the Shariah Compliant business activities and operations of the Bank with reference to the established Shariah criteria.
- Examination of the adequacy and effectiveness of the system of internal Shariah control and the quality of performance in carrying out assigned responsibilities.
- Collect, analyze, interpret and document information related to Shariah Review objectives to support their Shariah Review results.
- Follow up with corrective action(s) and recommendation(s) so as to ensure that the gap/breach is rectified and to prevent the recurrence of future non-compliance.
- Exercise due professional care in performing the Shariah Review exercise.
- The level of professional care exercised shall be proportionate to the complexity of the Shariah Review exercise undertaken.
- Checking proper application of Islamic commercial contracts’ concepts and principles in contracts and agreements as well as product features and mechanisms;
- Having a bachelor’s degree in Islamic Banking and Finance / Islamic Banking and Economics
- 2-3 years’ experience with Islamic Banks or Islamic banking experience is preferable.
- Excellent written and verbal communication Skills.
- Thorough knowledge of the Islamic Baking Industry.
- Proficiency in local languages and English.
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 ([email protected]).
Please make sure that your email includes the vacancy ID as the subject line and the name of position with the branch name.
Note: only the candidates who are meeting the requirements of the position will be shortlisted.