Manager/Unit Head - Shariah Compliance, Product Reviews and Trainings
Habib Bank Limited - Islamic Banking
Total years of experience :12 years, 7 Months
My responsibilities include:
Prepare and implement Shariah Governance and Compliance Framework.
Prepare and update Shariah Compliance Review Manual in line with the guidelines issued by the Shariah Board as well as Regulator.
Shariah review of all Product programs, policies and agreements of retail and asset financing of the Bank.
Explain and obtain approval from Shariah Board on product related matters.
Understanding customer’s business processes and suggesting the structured products and customer specific process flows that suits their needs.
Provide guidance to business team on syndicated structures and agreements from Shariah perspective. Review of all syndicate structures and agreement before Shariah Board’s approval.
Provide initial response on Shariah queries regarding product structures and Shariah related matters and placing them before the Shariah Advisor for approval.
Attend Shariah Board meetings and present agendas related to Shariah Compliance, Product reviews and Trainings.
Prepare agenda items for quarterly Shariah Board meetings, this also includes Shariah audit and review reports of various departments and branches.
Prepare minutes of the meetings of quarterly Shariah Board meetings.
Prepare annual Shariah audit and review plan of departments, branches & operations and obtain approval thereof from Shariah Board.
Conduct Shariah audit and reviews as per the approved annual plan.
Prepare and finalize Shariah audit and review reports for onward submission.
Prepare annual Islamic Training Banking Training plan and obtain approval thereof.
Trainings of Staff bank wide, including branches and departments.
Support the development of new and innovative Islamic Banking products and assess marketability and risks involved in those products. This includes Corporate, SME, Commercial, Trade, Treasury and deposit products.
My responsibilities as a Unit Head includes:
Establishing the Shariah Audit Unit and ensure compliance of State Bank of Pakistan’s Shariah Governance Framework.
Preparation of Shariah Audit Manual, Shariah Compliance manual and guidelines in accordance with the rules and regulations issued by Shariah Supervisory Board and State Bank of Pakistan.
Preparation and submission of Shariah Audit reports to Shariah Advisor & Shariah Board. Preparation of annual Shariah audit plan and ensuring its timely execution.
Obtain approval from Shariah Board on the critical observations raised during the Shariah audit and review activity.
Conducting Shariah Audits of all financing and liability products & transactions, pool management, corporate, consumer, trade and treasury departments as well as overall operations of Dubai Islamic Bank.
Review of the ERP system implemented at DIB and checking its conformity with Shariah rules and guidelines.
Answering customer’s and staff queries regarding product structures and Shariah related matters on regular basis.
Trainings of Staff bank wide, including Shariah Audit as well as Internal Audit.
A brief summary of my core tasks for Shariah Compliance includes:
Provide technical support and assist business managers in relation to compliance of the Guidelines laid down by the Shariah Supervisory Board (SSB) & the Central Bank.
Provide technical support in the development of Legal Documentation, improvement in current product structures and new products in line with the business day-to-day needs.
Customer visits on Pan-Pakistan basis to assess unique business processes with the purpose to offer & refine products offered.
Review of the Temenos (T-24) with the purpose to customize the system in line with the Shariah/AAOIFI standards.
A brief summary of my core tasks for Shariah Audit includes:
Lead/Manage overall Shariah Audit related activities on Pan-Pakistan basis. The activities mainly include audit of bank’s transactions executed through branches, corporate, SME & treasury units and subsequent reporting to Shariah Supervisory Board, Board Audit Committee & Board of Directors.
Detailed Review of the asset side products to ensure each approved product and structure is in compliance with Shariah/AAOIFI Standards.
Liaise with branches and other departments to rectify any Shariah violations observed, educate the staff by explaining the details of the product structure and procedures.
Assists in the review of new and proposed product structures, mechanisms and documentation, comment over them and suggest modifications on the basis of audit.
Audit of accounting entries related to Islamic products in line with Islamic Accounting Standards of AAOIFI.
Reviewing the calculation and distribution of Depositor's profit in pursuant to the Mudaraba contract, and the guideline issued by the Central Bank of the Country (SBP).
Audit Bank's Donation (Charity) calculations at the end of the year according to the guidelines of Shariah Supervisory Board
Main tasks include:
Conducting Shariah audits of Islamic Banks and Takaful Companies
Preparation of Product Manuals of Islamic Financial Products
Providing advisory services for conversion to Islamic Products
Preparation of feasibility studies and industry analysis
Main tasks include:
Provided assistance in preparation of Project Budgets and related Work plans
Consolidation of Project budgets for different countries
Support in preparation of Cash flows and other projected statements
Monitor financial indicators through budget variance analysis and other MIS tools
Chartered Islamic Finance Professional (CIFP)
Masters in Economics and Finance
Associate Chartered Certified Accountant