Job Requirements for Islamic Banking Expert

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.

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.

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.

• 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).

• 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).