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  Organization Details:
Organization Name: Bank of Maldives PLC
Address: Procurement Department
Bank of Maldives PLC
11 Boduthakurufaanu Magu
Male' 20251,
Rep. of Maldives

Phone: +960 332 2948

Contact Person:
Notice Details:
GT Ref ID: 027290
Notice Type: Expression of Interest
Bidding Type: International
Notice No: BML/PD/EOI/2021/004
Description: CALL FOR EXPRESSION OF INTEREST (EOI)

APPLICATION FOR THE POSITION OF SHARI'AH ADVISORY COMMITTEE MEMBERS

Invitation


Bank of Maldives PLC seeks to appoint members to the Bank's Shari'ah Advisory Committee to advise the Board of Directors and Management on Shari'ah related matters, including Shari'ah compliance & risk management, relating to its Islamic banking window ("BML Islamic").

Roles & Responsibilities

The members of the Shari'ah Advisory Committee will be required to deliberate on Shari'ah issues, to review and endorse Islamic banking policies and procedures. The role will include the following responsibilities:

a. Advice the Board of Directors and Management on Shari'ah matters to ensure BML Islamic is Shari'ah compliant and its risks are managed effectively at all times,

b. Advise the Board of Directors and Management on the operational model of BML Islamic including strategy, framework, structures, risks, products, policies and practices,

c. Review and endorse updates to BML Islamic's Shari'ah Compliance Manual and other policies/procedures related to Shariah compliance of BML Islamic,

d. Take an active role and liaise closely with the SAC Secretariat on behalf of the SAC in Shari'ah Risk and Compliance matters,

e. Be readily available to the Bank for advice on urgent matters and for reviewing documents,

f. Be available to participate in the activities and functions of BML Islamic.

Criteria

- A formal qualification and/or extensive expertise or experience in the area of Islamic jurisprudence (usul al-fiqh) or Islamic transaction/commercial law (fiqh al-mu'amalat).

- A formal qualification and/or extensive expertise or experience in the area of Shari'ah Compliance / Risk Management / Product Development / Accounting / Auditing.

Additional Requirements

- Applicants must not be a member of a Shari'ah Committee of another local financial institution

- Preference is given to applicants familiar with guidelines and standards issued by the AAOIFI.

- Fluent in both Arabic and English.

Evaluation Process

- The call for EOI does not constitute a solicitation or Request for Proposal.

- Upon receipt of the EOI, together with applicant's profile/CV and supporting documents evidencing fulfillment of the above criteria and requirements, the Bank will assess the EOIs submitted to shortlist credible and competent parties fulfilling the criteria and requirements.

- The Bank will negotiate with the shortlisted parties prior to final selection. (Request for proposal will be issued to shortlisted parties only)

- All appointments will be subject to the approval of Maldives Monetary Authority.

Clarifications

- Request for clarifications should be submitted via email to before 16:00hrs (local time) on 31st May 2021(Monday).

Submission of Expression of Interest

- All submissions of EOI should be e-mailed to before the date of closure, 16:00hrs (local time) on 10th June 2021(Thursday).

Documents to be submitted: - Expression of Interest,

- Curriculum Vitae and other supporting documents evidencing fulfillment of the above criteria and requirements.

Deadline: 10 June 2021; 16:00hrs Maldivian Time
Updates:
Soft Copy:  Original Document  (204 KB)

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