Our Services
We Offer Innovative Solutions for All Your Islamic Finance Related Needs!
Islamic Finance Advisory & Consultancy
- Sharia advisory in relation to establishing Islamic banks, opening an Islamic window or conversion of a traditional bank into Islamic operations.
- Offering on-going Sharia advisory and consultancy to Islamic financial institutions (IFIs) of all types.
- Setting up and establishing Sharia governance frameworks for IFIs and its associated processes, risk management and controls framework.
- Assisting IFIs in the formation and management of their Sharia supervisory committee and handling the issuance of relevant Fatwas (Sharia opinions).
- Ongoing Sharia compliance advisory and sign offs of agreements new/amended, bank documentation and marketing materials.
Product Structuring and Development
- Designing and structuring all types of Sharia compliant financial products.
- Ensuring that the structure, operational processes and procedures, IT system, credit criteria, policies, financial operations and profit calculation in relation to the developed products are compliant with Sharia requirements.
- Re-engineering of existing products into Sharia compliant financial products.
- Reviewing legal documentation of financial products to ensure that they are in compliance with Sharia requirements.
- Reviewing all product documentation, including marketing and sales materials, from a Sharia compliance perspective.
- Finding and engineering Sharia compliant innovative financial solutions for the commercial, regulatory and market challenges faced by our clients.
Sharia Compliance Audit & Assurance
- Conducting yearly, semi-annually or quarterly internal and external Sharia compliance audit reviews.
- Advising on Sharia compliance and controls.
- Advisory on Sharia non-compliance risks in IFIs and mitigant .
- Issuing an audit and assurance report about the IFI’s compliance with Sharia to ensure transparency in line with Sharia governance and reporting standards for IFIs.
- Liaising with the Sharia supervisory committee on behalf of IFIs for Sharia compliance matters
Risk Management
- Establishing Sharia non-compliance risk management framework and its controls.
- Reviewing all operational policies, procedures and manuals to identify possible risks and advise on required controls.
Sharia Governance
- Establishing Sharia governance and its required operational functions.
- Implementing a three-line of defence Sharia governance model.
- Reviewing all legal agreements, internal documentation, financial market instruments, marketing materials and customer communications for Sharia compliance.
Training and Development
- Providing training on understanding Islamic financial principles, Islamic finance and banking.
- Sharia governance, audit and compliance training.
- Products, sukuk and takaful training.
- Managing Sharia non-compliance risks and relevant methodologies.
- Bespoke / tailored products, Islamic commercial law and Islamic banking training as required.