Manager – Internal Shariah Review & SNCR

Raqami Islamic Digital Bank Ltd.; Karachi Division; On-site; PKR 1,600,000 - 2,400,000; Full time

Job summary

Raqami Bank in Karachi seeks a Manager – Internal Shariah Review & SNCR to provide Shariah oversight across functions, ensuring compliance with Shariah requirements, SBP regulations, and AAOIFI standards, with focus on pool management and product documentation.

You will review profit distribution, PSRs, and asset-liability movements, prepare board-ready analyses, and coordinate with risk, finance, IT, and business teams to close reviews on time while maintaining thorough documentation.

Qualifications

• Understanding of Islamic banking pool management.
• Experience with profit distribution calculations.
• Knowledge of Shariah review and governance.
• Familiar with SBP/AAOIFI standards.

Responsibilities

• Review and approve profit distribution calculations.
• Verify PSR weightages for deposit pools.
• Monitor asset/liability movements affecting pool performance.
• Prepare data and reports for Shariah Board review.
• Review deposit-related products for Shariah compliance.
• Coordinate with business, finance, risk, and compliance teams.
• Maintain audit trails for profit reviews and approvals.
• Identify gaps and recommend corrective actions.

Skills

Pool management

Profit distribution

Shariah governance

Board secretarial

Product management

Asset tagging

Liquidity management

Musharakah placements

Weightage audits

Shariah documentation

Cross-functional coordination

Regulatory compliance

Education

Bachelor’s degree in Business Administration/Finance/CS/IS/Engineering

Shariah related certificates

Job description

Job Title: Manager – Internal Shariah Review & SNCR

Department: Shariah Compliance Department (SCD)

Job Overview

The role provides Shariah oversight across various business and support functions to ensure compliance with applicable Shariah requirements, SBP regulations, AAOIFI Shariah Standards, and Shariah Board resolutions, with particular focus on the review of overall Pool management including asset tagging, weightage assignments, profit-sharing ratios (PSRs), pool balancing, profit distribution cycles, and related asset-liability management activities and a focus on Product manual and documentation of deposit/liability side products.

Key Responsibilities

• Review and approve profit distribution calculations to ensure accuracy, transparency, and alignment with approved methodologies, regulatory requirements, and Shariah principles.
• Verify weightages and Profit-Sharing Ratio (PSR) applied to deposit pools, ensuring they are properly approved, consistently applied, and accurately reflected in profit allocation.
• Monitor asset and liability movements to identify significant changes, assess their impact on profit distribution and pool performance, and highlight unusual trends or discrepancies.
• Prepare relevant data, analysis, observations, and compliance updates for Shariah Board review and reporting.
• Conduct Shariah review of deposit-related products and agreements to ensure structures, terms, documentation, and operational processes comply with Shariah guidelines.
• Coordinate with business, finance, risk, and compliance teams to obtain required information, resolve issues, and complete review and approval activities on time.
• Maintain proper documentation and audit trails for profit distribution reviews, PSR verification, movement monitoring, Shariah approvals, and product/agreement reviews.
• Identify gaps, exceptions, or non-compliance matters and recommend corrective actions to strengthen controls and ensure ongoing Shariah compliance.

Experience Required

• Preferably 4 years of experience in Shariah Compliance, Shariah Product Management,Pool management andIslamic Conversion

Educational Background Required

• Bachelor’s degree in business administration, Finance, Computer Science, Information Systems, Engineering, or related discipline.
• Shariah related Certificates.

Skills & Competencies

• Islamic banking pool management
• Profit distribution and WAGY calculations
• Shariah review and governance support
• Shariah Board secretarial support
• Product management
• Asset/liability pool creation, asset tagging, and pool balancing
• FI pools and Interbank Musharakah placements
• Weightage table audits, minimum profit rate mechanics, and dividend purification
• Knowledge of SBP SGF, AAOIFI Standards, contract review, and Shariah Board documentation.
• Strong attention to detail in reviewing financial calculations, audits, and pool activities.
• Effective coordination with Shariah, Treasury, IT, and Business teams
• Proactive problem-solving ability in addressing audit observations, mitigating pool-related risks, and ensuring regulatory compliance.

Raqami Bank is an equal opportunity employer. We welcome applications from all qualified individuals, including Persons with Disabilities (PWDs), and are committed to fostering an inclusive workplace where everyone has the opportunity to succeed.

Last date to apply: November 6, 2026