Islamic Banking Expert

Job Summary:

The Islamic Banking Expert will play a pivotal role in supporting the Lead Consultant and project team during the transformation of a conventional bank into a Shariah-compliant Islamic bank. The role requires deep knowledge of Islamic finance principles, AAOIFI/IFSB standards, and Central Bank regulatory requirements, combined with practical experience in banking operations, product development, and governance frameworks.

The Expert will act as the subject-matter authority on Shariah-compliant banking products, processes, and compliance structures, ensuring the transformation aligns with international best practices and local regulatory obligations.

Key Responsibilities:

1. Advisory & Shariah Compliance

• Provide expert guidance on the design, development, and implementation of Islamic banking products (e.g., Murabaha, Ijara, Istisnaa, Mudaraba, Wakala, Sukuk).

• Ensure all transformation initiatives comply with Shariah standards (AAOIFI, IFSB) and local Central Bank regulations.

• Support the creation of Shariah governance frameworks, including policies, procedures, and reporting structures.

2. Product & Process Transformation

• Review conventional products and map them to equivalent Shariah-compliant alternatives.

• Develop functional specifications, product parameterization, and process flows for Islamic banking operations.

• Work with Operations to define changes required for Shariah-compliant products and contracts.

Reporting Line:

• Direct Report To: Lead Consultant (Project Manager of the Conversion Program).

• Indirect Coordination With: Shariah Advisory Committee, Internal Bank Teams (Operations, IT, Risk, Finance, Treasury).

Qualifications & Experience:

• Advanced degree in Islamic Finance, Banking, Economics, or related field.

• Professional certifications:

1. AAOIFI
2. CSAA
3. CSE
4. CPSS
5. CIPA
6. CIBAFI

• Minimum 8–10 years of experience in Islamic banking, with proven expertise in product development and bank transformation.

• Strong knowledge of AAOIFI standards, IFSB guidelines, and local regulatory frameworks.

• Experience in consulting, project management, or previous bank conversion projects is a strong advantage.

Key Skills:

• Deep understanding of Shariah-compliant financial instruments and banking operations.

• Strong analytical and problem-solving skills, with ability to bridge between theory (Shariah) and practice (bank operations).

• Excellent stakeholder management and communication skills.

• Fluency in Arabic and English (written and spoken).