This year’s record of $46 billion in terms of global sukuk sales is very likely to be exceeded in the coming year. A key reason is that countries like Oman, Tunisia and Egypt are just entering the market. Borrowing costs on Sharia-compliant debt have d…
According to an announcement by Abu Dhabi Islamic Bank (ADIB), the bank plans to expand its original footprint by launching its branch in Khartoum in Sudan. Thus, ADIB becomes the first UAE-based Islamic financial institution which has received a banki…
The government of Indonesia plans the issuance of rupiah-denominated sukuk next year which shall be used for financing state projects. Analysts welcome this move considering it a breakthrough in the development of the country’s undersized Islamic finance sector. According to the 2013 state budget financial note, up to Rp 1 trillion (US$103.5 million) will be borrowed by the Finance Ministry using sukuk issuance to finance state projects next year. Islamic bonds should be perceived as an alternative source of financing for the government’s infrastructure projects.
The central bank of Oman decided upon a strict approach to regulating Islamic banking in rules for the sector. The rules released on December 19th will set higher standards for the industry than many other countries. Last year, the Sultanate announced …
Banks in Syria are experiencing additional cull at board level which combines with the already difficult conditions facing a sector hit by sanctions, losses and robberies amid a deepening civil war. The changes are in the form of reported resignations,…
Mauritania is working on the development of an Islamic interbank market. The initiative has already begun with the establishment of several Islamic banks. Recently, the Central Bank of Mauritania (BCM) conducted a study on the potential development of …
The International Islamic Financial Market (IIFM) is progressing on a variety of Sharia products issued. This was made known at their 27th board meeting which was hosted by Kuwait Finance House – Bahrain in Manama. The mentioned products include Interb…
Islamic finance in India is strongly limited by the country’s ban on sharia-compliant banking. However, the industry intends to create a work-around by developing specific products that can take this function. Due to the political and legal obstacles a…
· To prepare the plan, analysis and report for post approval Shariah review.
· To assist post approval Shariah review activities on Islamic finance business activities.
· To liaise with the Group Internal Audit, staff at units/branches and commodity brokers before and after the execution.
· To assist in preparing and conducting the relevant Shariah training for the staff at branches/units.
· To do research in relation to Shariah Compliance and Review.
· To prepare the plan, analysis and report for post approval Shariah review.
· To assist post approval Shariah review activities on Islamic finance business activities.
· To liaise with the Group Internal Audit, staff at unit…
