Taking its name from ZamZam Holy Water which gave life to the barren land of Makkah, springing the hills of Safa and Marwa; ZamZam Bank is working towards ensuring sustained economic growth by leveraging technologies and Digital Transformation that continuously align with innovative business model.
Zamzam Bank is aspiring and working relentlessly towards its vision of becoming the leading shari’ah compliant and all-inclusive Digital Bank in Africa by 2030. It is contributing to the economy by providing full-fledged interest free, affordable, effective banking and financial services to diverse individuals and organizations; and by promoting economic stability and financial access through its extensive branch networks.
The reputation of the bank is positioned on not only for its championship for pioneering financial inclusiveness, but also for its unwavering commitment to sheriah compliance products and services; strong networking; resources and organizational learning; innovative leadership and management practices; state of the art core banking systems and its international recognitions.
We are searching talented individuals to join us on our journey towards sustainable growth that enhance financial inclusion with a special focus on the part of society that is alienated from the financial system due to their religious beliefs or other factors. Is this you?
Job Summary
The Sharia Compliance & Secretary Senior Officer is a critical role responsible for ensuring that all aspects of the Bank's operations, products, and activities are in strict compliance with Sharia principles. The Senior Officer will act as the primary internal expert on Sharia matters, working closely with the Sharia Advisory Board, product development, legal, and compliance teams to review, audit, and advice on business activities. The goal is to mitigate Sharia non-compliance risk and uphold the Bank's ethical integrity.
Duties and Responsibilities
Ensure the bank’s operations are carried out compliant with the Shariah values, principles, ethical business practices, the bank policies and procedures within the legal framework and shariah requirements.
Work with the product development team faithfully & perform examination on Shariah aspects as per AAOIFI standards & fatwas for each product before its presentation to the Shariah Advisory Committee (SAC) for decision.
Formulate and recommend appropriate Shariah risk management policies and guidelines.
Coordinate and resolve shariah non-compliant events as per the guidelines of the Shariah Committee.
Conduct periodic review of financing facilities/documents against product procedures, guidelines and formats permitted or certified by SAC of the bank.
Work closely with the bank’s internal audit, risk and compliance departments for shariah related issues and assist related parties on Shariah matters
Assist in identifying training requirements of staff in relation to its Shariah compliant business and provide support in preparing and delivering required training sessions.
Continuous knowledge enhancement through Islamic Financing training to all officers of the Bank.
The execution and implementation of products and services according to the required flow and processes and resolutions issued by the Bank’s SAC;
Act as a Secretary to the Shariah Advisory Committee by the role that include coordinating meetings, compiling proposal papers, disseminating Shariah decisions to relevant stakeholders and engaging with relevant parties who wish to seek further deliberations of issues from the Shariah Committee
Organize and schedule SAC meetings (regular and extraordinary).
Prepare and circulate agenda, working papers, and background documents in advance.
Follow up on action items and resolutions from meetings.
Maintain SAC(Sharia Advisory Committee) records, including fatwas, rulings, and resolutions.
Ensure proper archiving of Shari’a opinions and supporting evidence.
Submit periodic reports to the Board, Management, and Regulators on SAC activities.
Maintain register of SAC attendance and decisions.
Provide SAC with relevant industry updates, regulations, and Shari’a standards (AAOIFI, IFSB, etc.).
Assist SAC in analyzing products, contracts, and policies submitted for Shari’a approval.
What we offer you
The position comes with a competitive salary and an attractive remuneration package.
Job Requirements
Core Competency
Knowledge in Shariah, which includes study in Usul Fiqh (the origin of Islamic law) or Fiqh Muamalat (Islamic transaction/commercial law).
AAOIFI certification on shariah governance, accounting and/or audit principles and standards is an advantage
Relevant backgrounds such as Islamic Banking & Finance and law, which could support the depth and breadth of the Shariah deliberations.
Analytical and research approach and proactive attitude in managing issues.
Up-to-date with relevant regulatory requirements, guiding principles and guidelines in Islamic Finance and Shariah Parameters
Excellent interpersonal and communication skills including verbal and written, with a strong emphasis on report writing and presentation capabilities.
Previous experience with Islamic financing products or the financial services sector will be an added advantage.
Minimum qualification and work experience:
BA Degree in Economics, Management, Accounting, Law, Islamic Banking & Finance or other related fields with 4 years of experience in sharia compliance or advisory role within financial institution
Place of work: Head Office
How To Apply
Interested applicants who meet the above requirements can submit their application letter, updated CV and credentials in PDF format by clearly stating the position that you are applying for through THIS LINK within 10 days from the date of announcement.
Only shortlisted applicants will be communicated.
