Head of Shariah Department
New Cairo, Cairo
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Job Description
- Shariah Governance & Supervision: Establish and manage the bank’s internal Shariah department, ensuring compliance with AAOIFI standards, QCB guidelines, and the bank’s own Shariah Supervisory Board (SSB). Coordinate all engagements and reporting with the SSB, including Fatwa requests, product reviews, and annual Shariah audits.
- Product Structuring & Review: Advise on the development and Shariah validation of all financial products and services (e.g., Mudaraba savings, Murabaha financing, Wakala investment accounts, etc.). Work closely with product and business teams to ensure Islamic finance principles are embedded from ideation through to launch.
- Shariah Audit & Internal Compliance: Design and oversee periodic Shariah audit programs. Ensure ongoing compliance of operations, customer journeys, and contract execution with approved Shariah rulings.
- Documentation & Reporting: Draft and review Shariah-compliant legal documentation, contracts, disclosures, and marketing content. Prepare detailed reports and board submissions for SSB, management, and QCB as required.
- Shariah Research & Innovation: Conduct ongoing research into emerging Shariah-compliant fintech solutions, including digital sukuk, tokenized assets, Islamic robo-advisory, and embedded Takaful models. Recommend enhancements to support ethical innovation in digital Islamic finance.
- Stakeholder Engagement & Training: Educate internal teams on Islamic finance principles and operational compliance. Represent the bank in regulatory, academic, and industry forums on Islamic banking and digital Shariah compliance.
Job Requirements
- Education: Bachelor's or Master's degree in Islamic Finance, Shariah Studies, Usul al-Fiqh, or Fiqh al-Muamalat. Additional qualifications in Islamic banking standards (AAOIFI, CIFE, CSAA) are highly preferred.
- Experience: Minimum 10 years of experience in Islamic banking or finance, with at least 5 years in a leadership or senior Shariah advisory role. Experience with product approval and Shariah compliance in digital banking, fintech, or startup environments. Familiarity with regulatory frameworks of the Central Bank of Qatar (QCB) is a strong advantage.
- Skills & Competencies: In-depth knowledge of Islamic financial instruments, structures, and jurisprudence. Strong collaboration skills to work cross-functionally with product, legal, compliance, and tech teams. Able to apply traditional Islamic principles to modern digital models and innovations. Fluent in English; Arabic language is highly preferred.
