Sharia Compliance Accountant at Communicate Recruitment

Brief Description:

• Are you a Sharia Compliance Accountant with a passion for working in the global finance sector? Have you always dreamed of being part of an international organization? If so, we have an exciting opportunity for you! Apply today to join a well-established company!

Job Description:

Your responsibility will include but is not limited to: 

• Prohibition of Riba (Interest): Any form of interest-based transactions is forbidden under Sharia. Muslims are prohibited from engaging in activities that involve paying or receiving interest. This has significant implications for banking, lending, and investments.
• Halal Investments: Investments must be made in permissible (halal) businesses. These businesses must not engage in activities considered harmful or forbidden (haram), such as gambling, alcohol, or pornography.
• Risk Sharing: Sharia promotes business transactions based on risk-sharing rather than debt or guaranteed returns. This can include models like Mudarabah (profit-sharing) and Musharakah (joint venture partnerships).
• Avoidance of Gharar (Excessive Uncertainty): Transactions involving excessive uncertainty or ambiguity, such as speculative trading, are prohibited under Sharia. Financial contracts must be clear and transparent to avoid deceit or unfair advantage.
• Zakat (Charity): Muslims are required to pay a portion of their wealth (usually 2.5%) as charity, known as Zakat. Accountants may help individuals and businesses calculate and pay Zakat.
• Islamic Finance Products: Sharia-compliant financial products, such as Islamic bonds (Sukuk), Islamic insurance (Takaful), and interest-free loans, are structured to align with Islamic law. These products avoid interest and are designed with profit-sharing or asset-backed financing in mind.
• Ethical Conduct: Business practices under Sharia emphasize honesty, transparency, and fairness. Exploitative or unethical business practices are forbidden.

Skills & Experience: 

• A good understanding of Sharia Compliance 

Qualification:

• 4-5 years of experience in a similar role

Degree 

• Professional registration will be advantage