Sharia Advisory Board Member

Master's Degree   Afghanistan, Kabul Part Time 535
Date Posted:Sep 28, 2022
Reference:ADF-116
Closing Date:Oct 12, 2022
Work Type:Part Time
Number of Vacancies:3
Gender:Male
Functional Area:Adviser
Nationality:Afghan
Salary Range:As per company salary scale
Years of Experience:3 - 5 Years
Contract Duration:1 year(s)
Possibility of Contract Extension: Yes
Contract Type:Consultant
Probation Period:Unspecified
Required Languages:Dari,Pashto,English

About Agricultural Development Fund:

 

The Agricultural Development Fund (ADF) will act as a second-tier wholesale lending institution that will lend to intermediaries in the agricultural value chain, who will then on-lend to small commercial farmers, defined as farmers with 1-30 hectares. ADF is capitalized by a $100 million grant provided by the United States Government to the Government of the Islamic Republic of Afghanistan with the objective of increasing lending to the agriculture sector in order to create a more competitive agriculture sector through expanded agricultural production and increased incomes for agricultural households. ADF will lend directly and indirectly to banks, non-bank financial institutions, credit unions, microfinance institutions and non-financial intermediaries such as private farmer associations, farm stores, agricultural depots, food processors, agribusinesses and other market participants and informal providers of finance that support the development of agricultural value chains in Afghanistan and are able to enhance the supply of agricultural credit to the end-borrowers at the farm level. Until its transition to the Government of Afghanistan in 2014, the ADF is managed by the Agriculture Credit Enhancement (ACE) program a USAID contract.

Job Summary:

The Sharia Advisory Board Member will be a critical member of the Sharia Advisory Board. The primary responsibility of the position will be to attend 4 meeting annually or as requested by the management and review the ADF Islamic financing instruments. The applicant will be responsible for the approval of New Sharia Compliant Instruments and will be responsible for the customer and other stakeholders queries whenever required. The applicant will be responsible to review annual Sharia Audit report.


Duties & Responsibilities:

  • To review the ADF’s new and existing Islamic financing instruments.
  • To approve new Sharia compliant financing instruments proposed to be introduced by the ADF.
  • To address the customers’/client’s any other regulatory bodies queries whenever required, discuss the Sharia Products with them, with a view to satisfying them that the products are Sharia Compliant.
  • To provide inputs for the Sharia Finance Policy of ADF and approve the same.
  • To review the annual Sharia Audit Report.
  • To participate in the meetings of SAB and make recommendations for the improvements of the Islamic Financing Products of the ADF.


Job Requirement:

·        At least Masters in Islamic Banking or in Islamic Jurisprudence.

·        At least 3- 5 years of experience in financial sector.

·        Excellent Command over Pashto, Dari and Arabic languages.

·        Having full knowledge of Islamic financing products.

 

Job Location:

Afghanistan, Kabul
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