Shariah Product Expert

WAWASAN COJAYA SDN. BHD.; Kuala Lumpur; On-site; MYR 180,000 - 300,000; Full time

Benefits offered by this job

Direct access to CEO

Regulatory exposure

Job summary

WAWASAN COJAYA SDN. BHD. in Malaysia seeks a senior specialist to design and launch Shariah-compliant financing products for retail and MSMEs, spanning tawarruq and murabahah, with attention to regulatory constraints and fee structures.

You will own the full documentation stack and coordinate with an external Shariah adviser, regulators, and internal teams to ensure live deployment and audit readiness. This lean team operates fast, requiring deep Shariah knowledge, English and Bahasa

Qualifications

• Minimum 8 years in Islamic finance product structuring or related roles.
• Proven track record shipping Shariah compliant credit products.
• Experience with tawarruq, murabahah and related structures.

Responsibilities

• Own Shariah compliant product structuring end to end.
• Design contract architecture and pricing within regulatory limits.
• Interface with Shariah adviser and regulators to drive approvals.
• Develop scalable internal controls and documentation.
• Lead cross-functional teams across legal, risk and operations.

Skills

Islamic finance knowledge

Product structuring

Shariah advisory

Regulatory affairs

Bilingual English/Bahasa Malaysia

Stakeholder management

Education

Shariah/Islamic finance degree

Bachelor's degree in a related field

Tools

MS Word

Contract drafting

Job description

Why this role exists

Fingular is building Malaysia's Shariah compliant credit franchise outside the banking perimeter. We run licensed moneylending and BNPL businesses serving retail consumers and MSMEs, and we are converting a meaningful share of that book to Shariah compliant structures under the Tazee and AHA! brands.

The regulatory ground is moving. KPKT has issued draft guidelines on Islamic Financing Facilities under Act 873. The Consumer Credit Act 2025 transfers credit conduct supervision to the SKP. Fee permissibility on both conventional and Islamic facilities is being reset in tandem with the Shariah framework. Whoever takes this role will be designing product into a rulebook that is still being written, and will be in the room when it is.

This is not a Shariah advisory seat. Fatwa and pronouncement sit with our appointed external Shariah adviser. This role owns the product: the structure, the contract flow, the fee architecture, the documentation, the operational controls and the commercial outcome. You make it work and you make it compliant.

What you will own

Product structuring

Design Shariah compliant financing products for retail customers and MSMEs end to end, from concept through to live book

Own the contract architecture across tawarruq and commodity murabahah, and assess where ijarah, wakalah bi al istithmar, qard with ujrah, bai al dayn or musharakah mutanaqisah give a better commercial or operational outcome

Build the MSME proposition from a standing start: working capital financing, equipment and asset financing, invoice and receivables financing, and revolving facilities sized for micro and small enterprises

Design fee and profit rate structures that clear three tests at once: Shariah permissibility, Moneylenders Act 1951 ceilings and SKP conduct expectations

Own commodity trading mechanics including broker selection, execution sequencing, asset eligibility and audit trail integrity

Act as the primary interface to our external Shariah adviser. Prepare structure papers, respond to queries, close out conditions and drive pronouncements to completion on commercial timelines

Build and run the internal Shariah compliance framework: process flows, control points, exception handling, staff attestation and periodic Shariah review

Own the Shariah risk register. Identify where operational practice can drift from the approved structure and design the controls that stop it

Prepare the group for Shariah audit readiness ahead of any formal requirement

Regulatory and policy

Stay ahead of the KPKT and SKP Shariah roadmap and translate every development into product and operational impact within days not months

Draft technical submissions and consultation responses on draft guidelines, in English and Bahasa Malaysia

Support the group's positions through the Association of Digital Lenders and in direct engagement with regulators

Read the Consumer Credit Act 2025 and the SKP conduct framework as a product designer reads a spec sheet, and flag the constraints before they become findings

Documentation and launch

Own the full product documentation stack: Product Disclosure Sheets, term sheets, master agreements, commodity sale and purchase documents, offer letters and customer facing disclosures

Work with internal legal counsel and external firms to get documents to execution standard

Partner with engineering and operations to translate contract sequencing into system logic, and validate that the build matches the approved structure before launch

Commercial

Own product level unit economics including pricing, tenure bands, retention assumptions and portfolio profitability

Work with risk and collections to design Shariah compliant treatment of late payment, restructuring and recovery including ta'widh and gharamah handling

Train commercial and operations teams so that the structure survives contact with the front line

What you must bring

Minimum 8 years in Islamic finance product structuring, Shariah advisory or Islamic banking product management. Candidates from Islamic banks, development financial institutions, takaful operators, Islamic fintech or Shariah advisory firms are all in scope

Demonstrable track record taking at least one Shariah compliant credit product from structure to live market. Tell us what you built and what broke

Working command of tawarruq and commodity murabahah mechanics at operational level, not conceptual level

Current working knowledge of the Malaysian regulatory landscape: Moneylenders Act 1951, Consumer Credit Act 2025 and the SKP transition, and BNM Shariah policy documents as reference standards

Fluent written and spoken English and Bahasa Malaysia. You will be drafting for regulators in both

Comfort operating without a large governance apparatus behind you. We are a lean group and you will be the deepest Shariah knowledge in the building

Strongly preferred

Direct exposure to KPKT or SKP engagement, or to industry association technical work

MSME or SME financing experience, particularly where the structure had to accommodate irregular cashflow and thin documentation

Consumer credit experience at scale, including unsecured personal financing

Formal qualification in Shariah or Islamic finance: a degree in Fiqh Muamalat or Shariah, CIFP, IFP, or Shariah audit certification

Nice to have

Experience with BNPL or embedded finance structures and the Shariah questions they raise

Prior work on Islamic digital products where documentation had to be delivered through an app rather than a branch

Existing relationships within the Malaysian Shariah scholar community

How we work

Small group, fast decisions, real regulatory exposure. You will have direct access to the CEO and will be expected to form a view and defend it. If you want a role where the framework is already built and your job is to maintain it, this is the wrong seat. If you want to build the framework for a sector that does not yet have one, apply.

About Us

We specialize in accessible, secure, and responsible loan solutions designed to meet the daily financial needs of individuals and families across the country.

Our Mission

To make financial stability accessible to everyone across Malaysia. We empower users through fast, transparent, and fully digital financial services- eliminating paperwork, long waits, and unnecessary complexity.

About Us

We specialize in accessible, secure, and responsible loan solutions designed to meet the daily financial needs of individuals and families across the country.

Our Mission

To make financial stability accessible to everyone across Malaysia. We empower users through fast, transparent, and fully digital financial services- eliminating paperwork, long waits, and unnecessary complexity.