State Bank of Pakistan – Exciting Career Opportunities Director (OG7), Islamic Finance Policy Department

State Bank of Pakistan: Exciting Career Opportunities, Director (OG7), Islamic Finance Policy Department

The State Bank of Pakistan (SBP) is seeking a skilled Islamic finance professional to lead the Islamic Finance Policy Department (IFPD) as its director. This senior management position based in Karachi will drive the Islamic finance policy function within SBP.

Director (OG7), Islamic Finance Policy Department

The Director of IFPD will report to the Executive Director of Islamic Finance Group and will be responsible for:

• Reviewing, developing, and fortifying the Islamic finance legal, regulatory, and policy framework in line with Shariah principles.
• Collaborating and partnering with the Islamic finance industry for the development of innovative Islamic finance products, including participatory and risk-sharing products, focusing on agriculture and the rural sector.
• Developing robust risk management strategies for Islamic finance products and services, particularly risk-sharing products,.
• Leading the development of asset-light, Musharakah, and other risk-sharing Sukuk of different maturities.
• Coaching and counseling Islamic finance professionals to steer the industry’s development in conformity with Shariah principles.
• Collaborating with the Islamic finance industry to develop innovative products and rollout strategies to increase outreach to underserved segments of the economy.
• Initiating meaningful and objective research projects on Islamic finance trends and global market developments.
• Fostering relationships with key stakeholders, regulatory bodies, financial institutions, and Shariah scholars.
• Collaborating with other SBP departments to lead the transformation of conventional banking into Islamic banking.
• Establishing KPIs and monitoring the performance of Islamic banking operations against set targets.
• Promoting a culture of ethical governance within the Islamic banking industry, emphasizing transparency, fairness, and integrity.
• Identifying opportunities for expanding the Islamic banking market, both domestically and internationally,.
• Developing a framework for the adoption of prudential, Shariah, accounting, governance, and financial reporting standards.

Eligibility Criteria:

• Education: Master’s or Bachelor’s degree (minimum 16 years of education) in Finance/Islamic Finance/Banking. Professional qualification or a diploma in Islamic banking, Shariah, or Fiqh ul Muamlat is preferred.
• Age: Maximum 50 years, as of the date of the advertisement.
• Experience: At least 15 years of experience, including at least 5 years in a senior management position in Islamic banking.

Compensation:

• Competitive market-based compensation package with an attractive salary and well-rounded benefits structure as per the State Bank’s rules.

Application Procedure:

Interested candidates meeting the eligibility criteria may submit their applications online on the SBP Careers Portal. The last date to apply is February 26, 2024.

Applications that do not meet the defined requirements will not be entertained. Only short-listed candidates will be contacted.

Equal Opportunity Employer:

We are an equal-opportunity employer. Females, candidates from minorities, transgender persons, and persons with disabilities are encouraged to apply.

Any candidate misinforming, attempting to influence the recruitment process, trying to obtain support inappropriately, or tampering with evidence shall be disqualified from the current and any future recruitment process at the bank, even if otherwise eligible.

State Bank of Pakistan Career Opportunities Islamic Finance Policy Department