Description

Job Summary: The Sharia Audit Officer is responsible for conducting periodic Sharia audits across the bank to ensure all products, services, contracts, transactions, and operational processes fully comply with Islamic Sharia principles and the rulings of the Sharia Supervisory Board. The role helps preserve the bank’s Islamic integrity and strengthens governance. Key Responsibilities: 1. Sharia Audit Planning & Execution • Participate in preparing the annual Sharia Audit Plan based on risk assessment. • Conduct field audits in branches and departments to verify adherence to Sharia guidelines. • Examine financing files, contracts, documentation, and transaction flows for Sharia compliance. • Test samples of Murabaha, Ijara, Musharaka, Mudaraba, and deposit transactions against Sharia standards. 2. Review of Contracts, Policies & Procedures • Audit the implementation of Sharia-approved product structures and documentation. • Ensure operational procedures match the product manuals approved by the Sharia Supervisory Board (SSB). • Check whether staff are following required Sharia workflows (e.g., asset ownership, agency structures, disclosures, penalties handling). 3. Identification of Sharia Non-Compliance • Identify Sharia violations, deviations, or gaps during audits. • Discuss findings with relevant departments and agree on corrective actions. • Ensure non-compliance events are recorded, reported, and resolved within the required timeframe. 4. Reporting & Documentation • Prepare clear Sharia audit reports with observations, recommendations, and compliance ratings. • Submit audit results to the Head of Sharia Audit and contribute to reports for the Sharia Supervisory Board. • Maintain proper documentation of all audit working papers and evidence. 5. Follow-Up & Corrective Actions • Follow up on previously reported Sharia findings to verify whether corrective actions were implemented. • Work with business units, risk management, operations, and compliance teams to close audit issues. 6. Coordination & Support • Coordinate with Internal Audit and Compliance Department for combined risk reviews. • Provide Sharia guidance to departments during audits to improve their understanding and performance. 7. Capacity Building & Awareness • Support the development of Sharia audit tools, checklists, and audit methodologies. • Assist in internal awareness sessions on Sharia compliance requirements for staff. 8. Continuous Improvement • Stay updated on AAOIFI Sharia standards, new fatwas, and industry best practices. • Recommend improvements to Sharia audit processes and internal controls.