Guy Ghazali to take over as Senior President of Syariah Court in Singapore

The Singapore Ministry of Culture, Community and Youth (MCCY) has announced that the Senior President of the Syariah Court (SYC), Ustaz Alfian Yasrif Kuchit, will step down after 30 September 2020. Ms Guy Ghazali will succeed him as Senior President on 1 October 2020.

Ustaz Alfian, has been seconded from the Islamic Religious Council of Singapore (Muis) to the MCCY since 2009. He first served as President of SYC from 2011 to 2014. Following a policy stint in MCCY, Ustaz Alfian became SYC’s third Senior President in 2017*. As his secondment ends on 1 October 2020, Ustaz Alfian will step down as Senior President and return to Muis. Ustaz Alfian will continue to serve as an ad-hoc President of the SYC, while pursuing a PhD at the Faculty of Law, National University of Singapore.

The Mufti of Singapore, Dr Nazirudin Nasir, said: “Ustaz Alfian has led the Syariah Court with distinction as the first Senior President trained in both Muslim and civil law. As an expert in the practice of Muslim family law, Ustaz Alfian has advanced this field and strived to achieve fair and just outcomes. I am pleased to know that he will continue to serve in the SYC as an ad-hoc President as well as contribute in developing religious expertise amongst asatizah in the practice of Muslim family law.”

The MCCY emphasised the need for asatizah (religious teachers) who are trained in both Muslim and civil law to become leaders of the SYC "as the needs of our Muslim families evolve and divorces become more complex". MCCY is working with Muis to develop such expertise amongst current and future asatizah who can excel in the Muslim family development career track**. Some asatizah have already embarked on civil law degrees and will complete their legal training in a few years, MCCY said. As a transitional arrangement, a civil judge with experience in Muslim family law will be appointed to lead the SYC and mentor the pool of asatizah to be future SYC judges.

Ms Guy is a Legal Service Officer in the Singapore Legal Service, and currently a District Judge and Assistant Registrar in the Family Justice Courts. She will be posted to MCCY on 1 August 2020 as Senior President-designate, understudying Ustaz Alfian, and will take over as Senior President on 1 October 2020.

She has served on the Appeal Board that hears appeals against decisions made by the Syariah Court or the Registry of Muslim Marriages. Prior to joining the Family Justice Courts, she was a litigation lawyer in private practice, principally practising in the area of family law, which included cases heard in the Syariah Court and the Appeal Board. While in practice, she was a member of the Law Society of Singapore’s Muslim Law Practice Committee, Family Law Practice Committee and Probate Practice Committee.

Ustaz Alfian said, “Ms Guy’s appointment signals the government’s commitment towards strengthening the Syariah Court. I welcome the appointment, as I am confident that her skills, abilities and network of contacts can help facilitate greater collaboration and partnership between the Syariah Court and other agencies.

"Families undergoing divorce face one of the toughest moments in their lives. As such, Syariah Court presidents should be conscious of the real-world impact that their decisions have on the lives of these families. For this reason, the Syariah Court must continue to be open to leaders like Ms Guy who can bring new perspectives and life experiences towards the administration of the law.”

Dr Nazirudin said, “I fully support the plan for Syariah Court judges to be trained in both Muslim law and civil family law because the judiciary is a complex institution that requires a high level of expertise in various disciplines. With her depth of knowledge of the Singapore legal system and her experience in Muslim family law through her work in the Appeal Board, I am confident that Ms Guy Ghazali is well placed to lead the Syariah Court as well as develop our asatizah who can be future Syariah Court judges.

"I look forward to working with her and the Syariah Court team to further advance the practice of Muslim family law in accordance with the principles and progressive values of Islamic jurisprudence.”

^*The first two Senior Presidents were Ustaz Sallim Jasman (1999 – 2006) and Ustaz Mohamad Haji Rais (2006 – 2017).
 
^**There are five career tracks for asatizah in the religious sector: 

- Religious Policy & Development, 

- Education, 

- Mosque & Community Development, 

- Muslim Family Development, and 

- Religious Services.

Saturna Sdn Bhd appoints new president

Saturna in Malaysia, a wholly-owned subsidiary of US-based Saturna Capital Corporation, has announced the appointment of Shahariah Shaharudin as its new president.

Shaharudin replaces Monem Salam, who has returned to Saturna’s US office. “I am deeply honoured to be a part of this dynamic organisation and take Saturna Malaysia into its next phase of growth, while making sure we’re well positioned for the future challenges of the global asset management industry,” said Shaharudin.

A tenured professional with over 30 years of experience in commercial banking, fund management, and stock-broking, Shaharudin previously served as the CEO/Executive Director of Kenanga Islamic Investors Berhad (KIIB). She holds a Master of Arts in Economics from the University of Illinois, and a Bachelor of Business Administration and Economics degree from Knox College.

Said Salam, Executive VP and fund manager of Saturna Capital: “Her deep experience in this market will ensure that Saturna continues to innovate and remain on the cutting edge of both Islamic and sustainable investing, proving, over the long run, that the combination of these two styles is a win-win for investors.”

Saturna is based in Kuala Lumpur, Malaysia and specialises in Islamic-compliant investment advisory services for individuals and institutions. The company is a licensed Islamic fund manager under the Securities Commission of Malaysia, and is adviser to the ASEAN Equity Fund, and the ICD Global Sustainable Fund.

Aligarh Muslim University appoints Dean for Faculty of Theology

Source: AMU. Professor Mohammad.

The Aligarh Muslim University Vice Chancellor has appointed Professor Mohammad Saleem from the Department of Sunni Theology as Dean, Faculty of Theology for a period of two years, with effect from February 15 2019.

Dr Mohammad's specialty is in the critical study of hadith. He teaches post-graduate classes about hadith on the basis of ilm-e-dirayah (عِلْمِ الدِرایَة), the study of understanding hadith, as opposed to Ilm-e-riwayah, (عِلْمِ الرِّوَايَة) the study of narration of hadith.

He has published four books, including Rewayat wa Dirayat e Hadith; Tadween e Hadith; Uloom e Hadith; and Ahadith e Fadhail.

Muis announces new chief executive

Source: Muis. Esa (left) with Hj Abdul
Razak (right).

The Islamic Religious Council of Singapore (Muis) will have a new CEO from 2019.

Retiring Chief Executive Hj Abdul Razak Maricar has prepared for transition and renewal as the council embarks on its 6th three-year plan (6M3YP), which also coincides with the end of its 50th anniversary celebrations.

Said Hj Abdul Razak, “Succession planning has always been a priority in on Muis, as it strives to ensure continuity in service while adapting to changing context and needs for the nation and the Singaporean Muslim community.

"Over the years Muis has stabilised and strengthened its processes and programmes, and established strong relationships with its partners, stakeholders and the community. For this to continue, Muis needs to maintain a strong team, recruiting new talent at all levels in the organisation. I have confidence in my staff, in particular the management team which Muis has built over time.”

Esa Masood, currently Muis Deputy Chief Executive, has held leadership positions in organisations such as the Singapore Ministry of Trade and Industry, the Ministry of Education and the Early Childhood Development Agency. He will take over from Hj Abdul Razak as of January 2019.

Esa joined Muis in late 2017, and, under the guidance of Hj Razak and the rest of his colleagues, has been handed oversight over key sectors such as the mosque, social development and Islamic education.

Said Esa, “I have been very fortunate to have benefited from the mentorship of Hj Abduk Razak and his wealth of experience during my time in Muis, and I also benefited from Mufti and the Muis senior management.

"We will continue to work together with the Muslim community, through our various platforms, to strengthen the community’s religious life. We also hope to further strengthen ties with other faith communities as part of a multiracial and multicultural Singapore that we hold very dear to us.”

New Chairman appointed for MKI's Fatwa Committee

YBhg. Datuk Haji Wan Zahidi bin Wan Teh has been appointed as Chairman of the Fatwa Committee, National Council for Islamic Religious Affairs Malaysia (MKI) for a term ending July 15, 2020. He replaces YBhg. Professor Emeritus Tan Sri Dato' Dr Abdul Shukor bin Haji Husin, whose tenure has expired.

A formal appointment ceremony was held on 17 October 2017 at the Putrajaya Islamic Complex, Malaysia.

YBhg. Datuk Haji Wan Zahidi's experience, particularly in relation to Islamic affairs, will be valued in his new post, said the Department of Islamic Development Malaysia (JAKIM). YBhg. Datuk Haji Wan Zahidi', 75, is from Gerik in Perak and holds a Bachelor's (Syariah) degree and a Master's Degree (Usul Fiqh) from Egypt's Al-Azhar University. He has served as the Federal Territory Mufti, the Rector of Darul Ridzuan Islamic College and Chairman of the JAKIM Akidah Expert Panel in the past.

The Fatwa Committee of MKI is the body responsible for providing legal views at the national level.

IFSB appoints Chairman, Deputy Chairman for 2017

The Council of the Islamic Financial Services Board (IFSB) has appointed its Chairman and Deputy Chairman for the year 2017. The appointments take effect on 1 January 2017.

HE Dr Valiollah Seif, Governor of Central Bank of the Islamic Republic of Iran, will assume the Chairmanship of the IFSB, while HE Fazle Kabir, Governor, Bangladesh Bank was appointed Deputy Chairman. HE Dr Valiollah takes over from HE Tarek Amer, Governor, Central Bank of Egypt. 

HE Dr Valiollah has a PhD in accounting and is a member of the Faculty of Management and Accounting of Allameh Tabatabaii University. HE was appointed as the Governor of the Central Bank of The Islamic Republic of Iran and Chairman of the Money and Credit Council in August 2013. 

He has served as the MD of major Iranian state-owned banks including Mellat, Saderat, Sepah and Melli and also has steered Karafarin, a major private Iranian bank. HE has furthered chaired Future Bank in Bahrain and Melli in London, UK.

HE Fazle is the former Senior Secretary to the government of Bangladesh, and joined as the 11th Governor of Bangladesh Bank on 20 March 2016. During his 34 years in the Bangladesh Civil Service, he held key positions such as the Deputy Commissioner and District Magistrate of Kishoreganj district, Joint Secretary in the Ministry of Education, Director General of the National Academy for Planning and Development, Director General of the BCS Administration Academy, Secretary Ministry of Railways and Secretary, Finance Division of the Ministry of Finance. 

HE also served as a Director in the Board of Directors of Janata Bank between 2008 and 2010, and at Bangladesh Bank from 2012 to 2014. Prior to joining Bangladesh Bank, he was Chairman of the Board of Directors of Sonali Bank. HE has a BA (Honours) and MA from the Department of Economics of the University of Chittagong.

Bank Negara Malaysia announces assistant governor portfolios

Source: Bank Negara Malaysia.
Adnan.

Bank Negara Malaysia has announced more appointments to fill positions made vacant in recent months. Adnan Zaylani Mohamad Zahid is Assistant Governor effective 1 August 2016. As Assistant Governor, Adnan will be responsible for the Investment Operations and Financial Markets, Foreign Exchange Administration, Legal and Currency Management and Operations departments. He assumes the portfolio from Assistant Governor Norzila Abdul Aziz. He will also continue as the Director of Investment Operations and Financial Markets Department.

Adnan joined the Bank in 1994 and has 22 years of work experience in the areas of investment operations and financial markets. He holds a Master of Science in Global Market Economics and Bachelor of Science in Economics from the London School of Economics and Political Science, UK.

Source: Bank Negara Malaysia.
Norzila.

Effective 1 August 2016, Assistant Governor Norzila will be responsible for the Economics, Monetary Policy, International and Statistical Services departments.

In early July, the bank announced that Shaik Abdul Rasheed bin Abdul Ghaffour had been named Deputy Governor for a three-year term effective 16 July 2016.

As Deputy Governor, Abdul Rasheed will be responsible for the financial sector regulation and development including payment systems as well as the international reserve management and money market operations and foreign exchange administration.

Source: Bank Negara Malaysia.
Abdul Rasheed.

He was Assistant Governor responsible for the Monetary Policy and Economics sector, which consists of the Monetary Policy, Economics, International and Statistical Services departments of the Bank. Abdul Rasheed is a member of the Bank's Management Committee as well as several policy committees namely the Monetary Policy Committee, Reserve Management Committee and Risk Management Committee.

Abdul Rasheed has served at the International Monetary Fund (IMF), Washington DC in the US as the Alternate Executive Director of the South East Asia Voting Group on the IMF Executive Board. He had a key role in the development and successful implementation of the Financial Sector Masterplan (2001 to 2010) and formulation of the Financial Sector Blueprint (2011 to 2020). He was also involved in the regional co-operation initiatives during Malaysia's Chairmanship of ASEAN including the endorsement of the Summary of Achievements of ASEAN Financial Integration and the development of the ASEAN Financial Integration Plan-Post 2015.

Abdul Rasheed joined the Bank in 1988 and holds a Bachelor Degree in Economics from University of Malaya.

With the appointment, Bank Negara Malaysia now has three Deputy Governors, as provided for by the Central Bank of Malaysia Act, 2009.

In April, Bank Negara Malaysia promoted former Deputy Governor Datuk Muhammad Ibrahim as the Governor of Bank Negara Malaysia for a term of five years, starting on 1 May 2016.

Datuk Muhammad Ibrahim named as new Governor for Bank Negara Malaysia

The Yang di-Pertuan Agong of Malaysia, advised by the Prime Minister Najib Razak, has appointed Datuk Muhammad Ibrahim as the Governor of Bank Negara Malaysia for a term of five years, starting on 1 May 2016.

Source: BNM. Datuk Muhammad.

"I'm confident that under his leadership, Bank Negara Malaysia will continue assisting the government with advice to further strengthen Malaysia's economy, as well as managing monetary policy, and regulating and developing the financial services industry," said the Prime Minister.

"On behalf of the government of Malaysia, I would like to thank Tan Seri Dato' Seri Dr Zeti Akhtar Aziz for her excellent contributions during her tenure as the 7th Governor of Bank Negara Malaysia."

"The appointment of Datuk Muhammad Ibrahim as Governor is definitely positive for the country. Being part of our policy team at the bank will provide continuity and the much needed certainty in this prevailing period of great uncertainty. I have great confidence in his ability to lead the Bank going forward into the future," added Dr Zeti.

Datuk Muhammad called his appointment "an opportunity and call to serve the nation". "I will strive to carry out the duties of Governor of Bank Negara Malaysia to the best of my ability," he said. "It is important for the central bank to maintain monetary and financial stability, remain focused on its strategic agenda and work towards contributing to a better future for all Malaysians.

"I would like to also thank Tan Sri Dr Zeti Akhtar Aziz for her exemplary leadership and enormous contributions to the Bank and to the nation."

Datuk Muhammad has been Deputy Governor of Bank Negara Malaysia since 2010. As Deputy Governor he sits on Bank Negara Malaysia's Monetary Policy and Financial Stability Committees and is responsible for the development of the financial markets and  treasury operations including foreign exchange and reserve management of the Central Bank. His other responsibilities including oversseing the development of the banking including Islamic finance and insurance sector. 

Muhammad is responsible for promoting Malaysia's agenda of migration to e-payments,  aimed to generate cost and operational efficiency for businesses. He is additionally involved in collaborative efforts with the regional central banks to develop a multicurrency payment settlement platform aimed to enhance linkages in cross border transactions in trade and investment. He further serves as Chairman of the Finance Accreditation Agency; Board member of the Retirement Fund; member of the Malaysian Institute of Accountants; panel member of the National Trust Fund; and Senate Chair of the International Centre for Education in Islamic Finance.;

He holds a bachelor's degree in accounting from the University of Malaya and Master’s Degree from Harvard University. He also holds a post-graduate diploma from International Islamic University of Malaysia.

CIMB appoints new CEO for CIMB Islamic Bank

CIMB Group has appointed Mohamed Rafe bin Mohamed Haneef as CEO/ Executive Director of CIMB Islamic Bank and CEO of the Group Islamic Banking Division, effective 4 January 2016.

"Rafe is a proven leader, with a deep and broad understanding of Islamic Banking, having been an Islamic banker for the last 15 years and worked in multiple financial centres around the world. I am confident he will bring tremendous value as he spearheads one of CIMB Group’s key business pillars. I look forward to working closely with him to put into motion the plans that will further cement CIMB Islamic’s leading position in the Islamic banking arena globally," said Tengku Dato’ Sri Zafrul Aziz, Group Chief Executive, CIMB Group.

Rafe has held key positions in three global banks, an international asset management company and a legal firm. He has specialised in Islamic banking in the last 15 of his 20-year career and has worked in major financial markets including London, Dubai and Kuala Lumpur.

He holds a Bachelor's degree in law from the International Islamic University Malaysia and a Master's degree in International Finance and Securities Law from the Harvard Law School, USA. Rafe is also a member of the Malaysian Bar and the New York State Bar, as well as a Securities Representative of the UK.

Dr Stephan Schönwälder to manage Russell Reynolds' Dubai office

Source: Russell Reynolds
Associates website.

Russell Reynolds Associates has opened an office in Dubai, located at the Dubai International Financial Centre (DIFC). The global assessment, recruitment and succession planning specialist for CEOs, boards of Directors and key roles within the C-suite started doing business in the Middle East in 1975. The firm now has 46 offices in 26 countries spread across Europe, Asia, North and South America and the Middle East.

“Our firm was first in our industry to establish a Middle East Practice, and we remain unique with dedicated consultants based both inside and outside of the region. Our Dubai office is another important step in the global expansion of Russell Reynolds Associates,” says Clarke Murphy, CEO of Russell Reynolds Associates. "Our company continues to expand: the past calendar year was an history high."

The executive search firm's presence in the Arab world will be boosted by the new office, which will be tightly integrated with the firm’s Middle East desk in London. "The Middle East continues to play a key strategic role for many of our clients, most major multinationals and world banks. Our Dubai office complements our clients' growing demands for physical presence in the region," explains Dr Stephan Schönwälder, Managing Director at Russell Reynolds Associates and Area Manager for Dubai. Dr Stephan Schönwälder works with senior members of the London desk Mat Green and Lamees Al-Ashtal. Green coordinates the firm's Middle East practice and conducts assignments for clients in the financial services, oil & gas, mining and natural resources sectors.

Dr Schönwälder joined Russell Reynolds Associates from another search firm, where he led the Middle East Financial Services Practice for four years. He also worked on numerous assignments in the ICT and FMCG industries and served family-owned businesses. Schönwälder was a former Partner with McKinsey & Company, serving as the head of the company’s Middle East Business Technology Practice and as a core member of the region’s Financial Services Practice. He also worked for numerous family conglomerates and government institutions, with a focus on Saudi Arabia and the UAE.

Schönwälder explains, "The region has considerable potential. Many of the Gulf States are successfully expanding their range of economic activities – moving away from oil toward promising sectors of the future such as tourism and hospitality, financial services and telecommunications. We advise companies and institutions in the region on all talent issues across all industries, with our wide-ranging executive search knowledge and international and local expertise."

New CEO for ICIEC

Source: ICIEC. Oussama
Kaissi.

The Board of Directors of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Member of the Islamic Development Bank (IDB), has appointed Oussama Abdel Rahman Kaissi as Chief Executive Officer of ICIEC.

Oussama Kaissi has over 28 years of experience in the insurance and takaful industry, 16 of them at the senior executive level. He is the founding CEO of the National Takaful Company, Watania, had also established and led Abu Dhabi National Takaful from its inception till 2010. Prior to this he has been the GM of ARIG, Bahrain.

Saturna boosts sales expertise in Malaysia

The Malaysian subsidiary of US-based Saturna Capital Corporation has announced the addition of Heddy Hussain, a veteran investment professional, as Director of institutional sales and marketing.

Heddy will focus on developing new relationships with institutional and high-net-worth investors, and distribution partners, while also managing overall sales for the firm. Having extensive experience in research, he will also complement the research staff and will be part of the team managing the firm's sukuk investment strategies.

Saturna began building sukuk capabilities in mid-2014 in Malaysia and received its first mandate towards the end of 2014.

Monem Salam, President of Saturna in Malaysia said: "Heddy will continue to work with investors seeking investment exposure through Saturna's ASEAN equity fund, which capitalises on investment opportunities in Asia's fastest growing markets, while adhering to Islamic investment guidelines."

Heddy has more than 17 years of investment experience, most recently as deputy director and head of equity research at RHB Asset Management, where he was responsible for leading the equity analyst team in their day-to-day operations as well as preparing RFP and RFI documentation on behalf of the investment team. Previously, Hussain served as Assistant VP at RHB branch broking, providing advisory and portfolio restructuring services for existing clients as well as conducting strategic planning for the company's growth.

He holds a diploma in Investment Analysis from the University of Technology Mara.

Saturna is licensed as an Islamic fund manager under the Malaysia International Islamic Financial Centre (MIFC). The company believes that Malaysia's comprehensive and progressive Islamic finance marketplace, which is open to the international community, will help the company build a strong Islamic investor base in Malaysia as well as among Asian and global investors.

"The interest for investing in ASEAN equities as well as sukuk products will continue to grow, and Saturna, with its award winning, values-based global investing expertise is well positioned to meet that demand," added Salam.

Saturna specialises in Islamic-compliant investment advisory services for individuals and institutions. It acts as a sub-advisor to the Crescent International Equity Fund, managed by Crescent Wealth, Australia's first Islamic wealth manager.

Saturna Capital is adviser to the Amana Mutual Funds (Amana Growth Fund, Amana Income Fund, and Amana Developing World Fund) that follow principles of Islamic finance.

posted from Bloggeroid

Alkhair International Islamic Bank appoints new CEO

Alkhair International Islamic Bank, a subsidiary of Bank Alkhair of Bahrain, has appointed Datuk Adissadikin Ali as its new CEO. Prior to this appointment, he was Export-Import Bank of Malaysia’s (EXIM Bank's) CEO. Adissadikin succeeds Ikbal Daredia.

As the new CEO, he will be responsible for the development of AKIIB, being the first foreign Islamic bank in Malaysia licensed to conduct a full range of non-Malaysian Ringgit banking activities. He will also oversee all aspects of the AKIIB business in Malaysia and the surrounding regions.

Adissadikin began his career as a Management Trainee with Renong in 1995. He has spent 15 years in the financial services sector.

Apart from being an Harvard Business School alumni, Adissadikin also holds an MBA (Finance) from University of Malaya, Malaysia, a Bachelor Degree in Business (Banking & Finance) from Monash University, Australia and a Diploma in Investment Analysis from UiTM, Malaysia.