Shariah Advisors

Growing Your Investments in a Changing World
Shariah Advisers

Amanie Advisors Sdn Bhd
Amanie Advisors Sdn Bhd (''Amanie'') is a Shariah advisory, consultancy, training and research and development boutique for institutional and corporate clientele focusing on Islamic financial services. Amanie is a registered Shariah advisory company for Islamic unit trust with the SC. It has been established with the aim of addressing the global needs for experts' and Shariah scholars' pro-active input. This will ultimately allow the players in the industry to manage and achieve their business and financial goals in accordance with the Shariah Principles. Amanie also focuses on organizational aspect of the development of human capital in Islamic finance worldwide through providing updated quality learning embracing both local and global issues on Islamic financial products and services.

The company is led by Datuk Dr. Mohd Daud Bakar and teamed by an active and established panel of consultants covering every aspect related to the Islamic banking and finance industry both in Malaysia and the global market. Currently the team comprises of five (5) full-time consultants who represent dynamic and experienced professionals with a mixture of corporate finance, accounting, product development, Shariah law and education.

Amanie meets every quarter to address Shariah advisory matters pertaining to our Shariah-compliant Funds’ investments. Since 2005, Amanie has acquired twelve (12) years of experience in the advisory role of unit trusts and as at 31 March 2017 there are 150 funds which Amanie acts as Shariah adviser.

The roles of Shariah Adviser are:

  1. To ensure that the Fund is managed and administered in accordance with Shariah Principles.
  2. To provide expertise and guidance in all matters relating to Shariah Principles, including on the Fund's deed and prospectus, its structure and investment process, and other operational and administrative matters.
  3. To consult with SC where there is any ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process.
  4. To act with due care, skill and diligence in carrying out its duties and responsibilities.
  5. Responsible for scrutinizing the Fund's compliance report as provided by the compliance officer and investment transaction reports provided by, or duly approved by, the Trustee to ensure that the Fund's investments are in line with Shariah Principles.
  6. To prepare a report to be included in the Fund's interim and annual reports certifying whether the Fund have been managed and administered in accordance with Shariah Principles for the period concerned.

The designated person responsible for Shariah advisory matters of the Fund is Datuk Dr. Mohd Daud Bakar as the Chairman. Other consultants are:
  1. Mohd Zikri Mohd Shairy
  2. Amran Ibrahim
  3. Nur Izzaatirah Rosli

 


The Consulting Team
Datuk Dr. Mohd Daud Bakar
Shariah Adviser

Datuk Dr. Mohd Daud Bakar is the Founder and Executive Chairman of Amanie Group that deals with many facets of global Islamic finance from Shariah advisory to structured training to media and to Big Data Analytics. Amanie Advisors, one of the companies under the Group, has presence in ten major cities in the world. He currently sits as a Chairman of the Shariah Advisory Council at the Central Bank of Malaysia, the Securities Commission of Malaysia, the Labuan Financial Services Authority and the International Islamic Liquidity Management Corporation (IILM). He is also a Shariah board member of various financial institutions, including the National Bank of Oman (Oman), Noor Islamic Bank (Dubai), Amundi Asset Management (France), Morgan Stanley (Dubai), Bank of London and Middle East (London), BNP Paribas (Bahrain), Dow Jones Islamic Market Index (New York), First Gulf Bank (UAE), amongst many others.

Prior to this, he was the Deputy Vice-Chancellor at the International Islamic University Malaysia. He received his first degree in Shariah from University of Kuwait in 1988 and obtained his PhD from University of St. Andrews, United Kingdom in 1993. In 2002, he completed his external Bachelor of Jurisprudence at University of Malaya. He has published a number of articles in various academic journals and has made many presentations in various conferences both local and overseas.

On the recognition side, Datuk Dr. Daud has been honoured with “The Asset Triple A Industry Leadership Award” at The Asset Triple A Islamic Finance Award 2014 and “Shariah Adviser Award” at The Asset Triple A Islamic Finance Award 2016 for the Best Securitisation Sukuk- Purple Boulevard 450 million ringgit asset-backed ijara sukuk by The Asset Magazine. He is also being named as the “Most Outstanding Individual”, awarded by His Majesty, the King of Malaysia, in conjunction with the national-level Prophet Muhammad's birthday 2014. The recent recognition is the “Award of Excellence for Outstanding Contribution for Shariah Leadership & Advisory” at London Sukuk Summit Awards, May 2016.

Under Datuk Dr. Daud leadership, Amanie Advisors has received an award of “Islamic Economy Knowledge Infrastructure”, at the Global Islamic Economy Summit 2015, by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Oct 2015.

On the publication side, Datuk Dr. Daud has just published his first master piece book entitled “Shariah Minds in Islamic Finance: An Inside Story of A Shariah Scholar”. Datuk is currently the 3rd Professorial Chairholder in Islamic Banking and Finance of Tun Ismail Foundation (YTI-PNB) by Islamic Science University of Malaysia (USIM) and also sits as a Board Director to Sime Darby Berhad.

Mohd Zikry Mohd Shairy
Chief Executive Officer

Mohd Zikry Mohd Shairy is the Chief Executive Officer of Amanie Advisors, earned his Bachelor of Laws (LL.B) and Master of Comparative Laws from International Islamic University Malaysia. Zikri started his journey in the Islamic banking industry in January 2007 after graduated from his first degree. He served Bank Muamalat Malaysia Berhad and RHB Islamic Bank Berhad as financing executive who based at several branches of the Banks. He later joined Shariah Division of Bank Islam in 2009 and led Shariah Risk Management Department since 2011 until January 2015.

In the training field, he is an Accredited Training Professional granted by Institute of Leadership & Management, United Kingdom. He delivered a lot of training sessions covering mainly on Shariah governance and Shariah risk management topics for local and international clients.

Amran Ibrahim
Consultant

Amran Ibrahim is a Consultant with Amanie Advisors, graduated with a Bachelor of Business Administration (Hons) Finance from Mara University of Technology Malaysia. He started his career in November 2004 as an officer in the Business Financing & Investment Department of CIMB Islamic Bank Berhad. He primarily involved in credit analysis for the preparation of credit proposition and evaluation for the purpose of granting financing facilities. In 2006, he joined Product Development Department and was responsible for research, design, development and launching of competitive Islamic banking products.

Amran continued his career in Product Development Department at Bank Islam Malaysia Berhad in May 2010, where he involved in various aspects of product structuring, development, enhancement and launching of retail banking, corporate banking and trade finance products.

Prior to joining Amanie, He was with Cagamas Berhad, the National Mortgage Corporation of Malaysia as Assistant Vice President in the Islamic Business Department. He was actively involved in the issuance of Sukuk as well as designing, conceptualisation and development of new Islamic financial products.

Nur Izzaatirah Rosli
Associate Consultant

Nur Izzaatirah Rosli is a consultant at Amanie Advisors. She graduated from the International Islamic University Malaysia (IIUM) with a Bachelor’s Degree of Science Islamic Finance (Hons). Prior to joining Amanie, she was a graduate trainee with Sime Darby Holdings Berhad under the Department of Treasury where she was exposed to Forex transactions and Risk Management System. She has also served at CIMB Bank Berhad as an intern under the CIMB Group Islamic Banking Division.

Currently, she is responsible to deal with the financial and shariah advisory services such as Shariah stock screening, Shariah monitoring and compliance review to various clients including financial institutions and global asset management companies.


Al Rajhi Banking & Investment Corporation (Malaysia) Bhd
Al Rajhi Banking & Investment Corporation (Malaysia) Bhd has been appointed as the Shariah Adviser of the Am-Namaa’ Asia-Pacific Equity Growth, Namaa’ Asia-Pacific Equity Growth and Am-Mateen Asia-Pacific Equity to advise the Manager on Shariah investments and ethical issues. The Shariah adviser is a specialised jurist in fiqh almua’malat (Islamic Commercial Jurisprudence) appointed by the Manager and is also the largest Islamic bank in the world.

Al Rajhi Bank ventured into the Malaysian shore after being the first Saudi bank to be awarded a full-banking license by the Bank Negara Malaysia. Malaysia marks the Group’s first foray into the international banking scene, where it aspires to introduce the Islamic Banking concept to the Asian market by providing a whole new Islamic banking experience.

The Bank started its operations in Malaysia on 16 October 2006. Since 2008, Al Rajhi Bank has acquired nine (9) years of experience in the advisory role of unit trusts and as at the Latest Practicable Date, there are three (3) funds which Al Rajhi Bank acts as Shariah Adviser.

Adhering closely to the deeply rooted Islamic banking principles, the Shariah-compliant banking group is planning to be instrumental in bridging the gap between modern financial demands and intrinsic Islamic values, to provide the ultimate in convenience to our customers spearheading numerous industry standards and development in Malaysia.

Leveraging on its track record and acumen in Islamic banking, Al Rajhi Bank sees its catalytic role in supporting Malaysia’s plans to evolve into a vibrant Islamic financial hub for the South East Asian region.

The investment portfolio of the Funds comprise of securities which has been classified as Shariah-compliant in accordance with the Shariah Investment Guidelines of the Shariah Adviser.

The roles of Shariah Adviser are:

  1. To ensure that the Funds are managed and administered in accordance with Shariah Investment Guidelines;
  2. To provide expertise and guidance in all matters relating to Shariah Investment Guidelines, including on the Funds’ Deed and Prospectus, its structure and investment process and other operational and administrative matters;
  3. To consult with SC where there is any ambiguity or uncertainty as to an investment, instrument, system, procedures and/or process;
  4. To act with due care, skill and diligence in carrying out its duties and responsibilities;
  5. Responsible for review of the Funds’ compliance report as provided by the compliance officer and investment transactions reports provided by or duly approved by, the Trustee to ensure that the Funds’ investments are in line with Shariah Investment Guidelines;
  6. To prepare a report to be included in the Funds’ interim and annual reports certifying whether the Funds have been managed and administered in accordance with Shariah Investment Guidelines for the period concerned.

The designated persons responsible and their qualification for Shariah Advisory matters of the Funds are as follows:-
  1. Prof. Dr Saleh Abdullah Al Lheidan;
  2. Assoc. Prof. Dr Azman Mohd Noor;
  3. Dr. Mohammed Hael Ghilan Al-Madhagi;
  4. Lokmanulhakim Hussain; and
  5. Wan Rumaizi Wan Husin

 


The Consulting Team
Prof. Dr Saleh Abdullah Al Lheidan

Dr Salleh holds a PhD and a Masters Degree in Comparative Fiqh (Islamic Law) from Imam Mohammed bin Saud Islamic University in Riyadh, Saudi Arabia. He currently serves as a Professor in the High Institute of Judicature-Imam Mohammed bin Saud Islamic University in Riyadh, Saudi Arabia specializing in Comparative Fiqh. Dr Salleh is an active member in a number of research committees inside and outside of the university. He also supervises more than forty (40) Master and PhD thesis. He has some writings on Islamic Commercial Laws. As for his Islamic Banking Industrial experience, Dr Salleh is presently the General Manager for the Shariah Group of Al Rajhi Bank, Saudi Arabia. At the same time he serves as the Secretariat and also a member of the Shariah Board of Al Rajhi Bank, Saudi Arabia. He currently sits as the Chairman of the Shariah Board of Al Rajhi Bank Malaysia since 2007.

Assoc. Prof. Dr Azman Mohd Noor

Currently, he serves as a lecturer at Fiqh Department at Kulliyah of Islamic Revealed Knowledge and Human Sciences of International Islamic University, Malaysia. By education, Dr Azman Bin Mohd Noor holds a PhD in Islamic Studies from the University of Edinburgh, United Kingdom. He also has Masters Degrees from the International Islamic University, Malaysia and Universiti Kebangsaan Malaysia respectively. He is also a graduate of Islamic University of Madinah, Saudi Arabia. As for his Islamic Banking and Takaful serving history, Dr Azman has been sitting on the Shariah Board of Al Rajhi Bank Malaysia since 2006. He is also the Chairman of the Shariah Adviser Board of AmFamily Takaful since 2011. He is also a registered Shariah advisor at SC.

Dr Mohammed Hael Ghilan Al-Madhagi

Dr Mohammed Hael Ghilan Al-Madhagi currently serves as Senior Shariah Consultant (Mustashar) at Shariah Group of Al Rajhi Bank K.S.A. He obtained his degree in Islamic Law from Al-Imam Muhammad Ibn Saud Islamic University, Ras Al-Khimah, U.A.E. and his Masters Degree in Comparative Jurisprudence at the Higher Judicial Institute in Riyadh, K.S.A. He further pursued his academic qualification and obtained his Ph.D in Fiqh from Al-Imam Muhammad Ibn Saud Islamic University, Riyadh, K.S.A. Prior to joining Al Rajhi Bank K.S.A in June 2006 as a full time staff, Dr Muhammad served as preacher and teacher under the Ministry of Islamic Affairs Office, Ras Al-Khimah, U.A.E. (1997 - 2003) and under The Ministry of Islamic Affairs, Advocacy and Guidance in K.S.A (2002 - 2004). He also served as a lecturer at Shariah College of Al-Imam Muhammad Ibn Saud Islamic University, Ras Al-Khimah, U.A.E. (2002 - 2003). He also sits as Shariah advisor in Shariah Board of Al Rajhi Bank Malaysia since 2011.

Lokmanulhakim Hussain

Lokmanulhakim Bin Hussain currently serves as a researcher at International Shari’ah Research Academy for Islamic Finance (ISRA). He obtained his first class honours in both Bachelor of Arts degree in Shariah and Masters Degree in Fiqh from the Islamic University of Medina, Kingdom of Saudi Arabia.

As a researcher, he is actively involved in researches related to Islamic finance and has presented numerous research papers at various seminars and conferences. He sits as a member of Shariah Board of Al Rajhi Bank Malaysia since 2014.

Wan Rumaizi Wan Husin

Wan Rumaizi Wan Husin lectured at the Department of Fiqh and Usul al-Fiqh at the Kulliyah of Islamic Revealed Knowledge and Human Sciences of International Islamic University Malaysia (IIUM). Wan Rumaizi is currently pursuing PhD in Islamic Banking and Finance in which he also has a Masters Degree in Fiqh and Usul al-Fiqh both from IIUM.

Mr. Wan Rumaizi has vast experience in Contemporary Issues in the areas of Fiqh Mualamat and Islamic Economics, as well as Fiqhi-Medico. He has been a Shariah Committee Member of PruBSN Takaful since 2014. He became a member of the Shariah Board of Al Rajhi Bank Malaysia in July 2015.