Job Detail

About Islamic Bank of Afghanistan

One of the leading Islamic banking and finance institutions in Afghanistan, Islamic Bank of Afghanistan has been serving as a banking organization integrated with the Law of Banking in Afghanistan and licensed under Da Afghanistan Bank (DAB). Since 2009, Islamic Bank of Afghanistan has been working under the acquisition of Azizi Group, a 100% subsidiary of Azizi Bank. As of now, the IBA has established 62 branches across the country with over 800 highly trained and skilled professionals. The bank is committed to foster a sound financial body with a vision to ensure the greatest safety and security to its clientele.

Job Description

Roles and Responsibilities of the SB Member:

• The SB member shall advise the Management Board (MB) of the Bank on all Shari’ah related matters.
• The SB will check the Shariah-compliant assets and liabilities of the IBA and provide Shari’ah opinion on the same.
• The SB shall be responsible and accountable for all Shari’ah decisions. Whereas IBA management shall be responsible for the accuracy and the authenticity of the information provided to the SB.
• The SB shall provide the basis to develop a comprehensive Shari’ah compliance framework for all areas of operations of the IBA and shall review and approve all products / services offered and / or launched by the IBA.
•  The SB member shall provide Shari’ah opinion on all IBA’s products and services and related agreements / contracts, structures, process flows, product manuals, marketing advertisements, sale illustrations and brochures etc.
• The SB member shall also provide opinion on specifying the process / procedures for changing, modifying or revisiting fatwa / ruling / guidelines etc. already issued by the SB.

Duties & Responsibilities

Roles and Responsibilities of the SB Member:

• The SB member shall advise the Management Board (MB) of the Bank on all Shari’ah related matters.
• The SB will check the Shariah-compliant assets and liabilities of the IBA and provide Shari’ah opinion on the same.
• The SB shall be responsible and accountable for all Shari’ah decisions. Whereas IBA management shall be responsible for the accuracy and the authenticity of the information provided to the SB.
• The SB shall provide the basis to develop a comprehensive Shari’ah compliance framework for all areas of operations of the IBA and shall review and approve all products / services offered and / or launched by the IBA.
•  The SB member shall provide Shari’ah opinion on all IBA’s products and services and related agreements / contracts, structures, process flows, product manuals, marketing advertisements, sale illustrations and brochures etc.
• The SB member shall also provide opinion on specifying the process / procedures for changing, modifying or revisiting fatwa / ruling / guidelines etc. already issued by the SB.

Competency

• Besides meeting the requirements of a qualified member of the SB, the SB members are expected to equip themselves with relevant knowledge on the current Shariah issues and development as well as to attend relevant trainings and programs provided by key Shariah bodies such as Islamic Fiqh Academy, Accounting and Auditing of Islamic Financial Institutions (“AAOIFI”), Islamic Financial Services Board (“IFSB”) and their successor organisations and other similarly renowned organisations.
• The Board of management is responsible for facilitating these programs to the SB members.
• The SB members shall be individually assessed and reviewed on the level of competency and overall contribution based on their Shariah deliberations and this shall be done at renewal of their contract.

Confidentiality and Consistency

• The SB members shall have the necessary access to both confidential and non-confidential files, records, conversations and draft materials to the extent that are required to facilitate the SB in making their decisions, views and opinions. Any sensitive information obtained by any member of the SB shall not be disclosed or used in any manner that may be detrimental to the IBA. Every member of the SB is entrusted with individual responsibility to observe the principle of confidentiality at all times.
• Confidential information is information received by the members of the SB that is not public in nature and has not been authorized to be made public. Confidential information includes, but is not limited to, the following:
• information on the development of new products and services;
• decisions of the Board of supervisors or the Management;
• internal memorandums or reports prepared in connection with
• matters presented, or to be presented to the SB;
• the content or occurrence of conversations among members of the SB concerning matters deliberated in the meeting and representatives of the Bank;
• the progress status on a business transaction or action that has not been made public;
• views expressed by various parties in the course of discussions on a particular matter deliberated by the SB; and
• any subject matter that the Bank has indicated should not be revealed, such as internal policies and procedures.
• In order to ensure consistency and quality in the Shariah decisions and resolutions, the SB is expected to develop a structured process of the decision making that is documented, adopted and maintained at all times to secure credibility of the SB.
• The SB shall use international Islamic Finance best practices while deciding on the matters submitted to it.  

Report of the Shari’ah Board

The SB of the IBA shall, based on the work of Shari’ah compliance review, prepare a report on the Bank’s Shari'ah compliance environment and conditions and share the same with the Board of Supervisors and send a copy thereof to the Islamic Banking department of the DAB

Skills Required

• Team management skills

Submission Guideline:

Interested candidates should to send their CV vacancy@ibafg.af and must copy info.ibfd@dab.gov.af