Advisory
Research
Training
IFIECO offers a range of services to its clients in its core areas of advisory, research and training, in the following technical fields of of expertise:
- Areas of Expertise
- Business Segments & Functions
- Core Services
- Economics of Development
- Macroeconomics research and policy
- Stock market and financial markets development & reform
- Sukuk and syndicated finance
Islamic Finance
Business Segments & Functions
- Investment Banking
- Sukuk & Syndicated Finance
- Corporate
- SME
- Retail
- Trade Finance
- Treasury & FI
- Core Banking & IT
- Operations
- Takaful
Core Services:
- Customized Islamic Finance Business Solutions
- Product Structuring
- Transaction Structuring & Sharia Issues
- Transaction Restructuring & Defaults
- Risk management (all types)
- Sharia-legal documentation review
- Review and reform of systems (operations, IT, HR, etc)
Sharia Consultations
Sharia Consultations
Providing detailed advice, analysis and solutions in relation to both products and transactions to help clients achieve Sharia compliance in a robust and sustainable manner.
Business Units
- Investment Banking
- Sukuk
- Syndicated Finance
- Trade Finance
Core Function
- Corporate
- SME
- Retail
- Takaful
- Treasury & FI
- Core Banking
- Operations
- HR
Key IFIECO Services:
- Customized Islamic Finance solutions
- Product development
- Product structuring & restructuring
- Transaction structuring
- Risk management (all types)
- Sharia-Legal Documentation Review
- Restructuring & defaults
- Transactions facing distress
- Advising on core banking and IT systems
- Advising on operations systems
Sharia Compliance
Sharia Compliance
Sharia Compliance is the primary factor underpinning the overall operation
of Islamic banks. We offer specific services to meet all the requirements of
Sharia compliance. A summarized list is given below.
IFIECO is fully equipped to provide any other services which the client may
need, which can be ascertained and confirmed after understanding the client’s
specific requirements.
Key IFIECO Services:
- Sharia review and analysis of transactions
- Sharia amendment of transactions and contracts
- Design and improvement of policies & procedures to ensure adherence to approved
- Sharia structures, products and systems
- Compilation, amendment and/or review of manuals and SOP documents
- Offering bespoke support to the Sharia Audit function
- Numerous other services available on demand
Sharia Audit
Sharia Audit
Internal Sharia Audit, Outsourced:
Some Islamic windows do not have a dedicated Sharia
Audit Department and need to outsource this activity,
if permitted by regulatory requirements.
IFIECO can provide a detailed and in-depth Sharia Audit services to such institutions.
External Sharia Audit:
Islamic Banks are usually required by regulators
to have an external Sharia Audit conducted by an
external party, often on an annual basis.
IFIECO can provide an independent,efficient, and holistic Sharia Audit service
service to such institutions.
Key IFIECO Services:
- Inspect and assess Sharia compliance of products, transactions, and operations as per the bank’s and regulator’s policies
- Sharia compliance of contracts, product structures, profit-sharing calculations, Zakat, operational practices
- Assess adherence with Sharia principles within the bank (AAOIFI standards, regulator guidance, internal Sharia rulings)
- Reporting of all incidences of non-compliance or breaches of Sharia
- Post-audit, provide guidance and/or assurance that operations, contracts, & transactions comply with Sharia
Sharia Coordination
Sharia Coordination:
Some institutions may seek to outsource their Sharia Coordination function if permitted by regulation. In this regard, we can provide this service very effectively. This function ensures that the bank’s business activities, products, and operations are aligned with Sharia principles as approved by the Sharia Supervisory Board (SSB).
Key IFIECO Services:
- Perform the role of bridge between the SSB and the financial institution competently and efficiently
- Organize SSB meetings, preparing agendas, and compiling materials for review
- Record and circulate SSB’s fatwas, resolutions and guidelines
- Communicate SSB decisions to management and relevant departments
- Ensure decisions are understood and implemented across departments
- Working with the Sharia Audit Department to track Sharia compliance
- Gather periodic compliance reports for the SSB and for presentation to regulator
- Assist in the preparation of the SSB’s Annual Report as required
Sharia Governance
Sharia Governance:
External audit of Sharia Governance function
The observation of sound a sound Sharia governance function is critical to the health of Islamic financial institutions, as it enables them to operate in a manner consistent with the ethical, legal, and economic principles of Sharia, which in turn assists them in maintaining stakeholder trust, legitimacy, and overall stability. We assist Islamic banks to assess the robustness of their Sharia governance infrastructure from a holistic perspective, which includes an in-depth examination of all the different components and requirements which individually contribute to strong Sharia governance, as per the standards and guidelines laid out by AAOIFI and the IFSB.
Key IFIECO Services:
- Review of SSB structure, configuration and processes
- Product development and documentation-related
- Sharia audit-related: Independence of audit; Quality of audit; Scope; Follow-up, etc
- Sharia compliance-related: Monitoring; Non-compliance register; Rectification; Reporting lines, etc
- Sharia risk-management related
- Overall governance, reporting, transparency
- Staff training, awareness
- HR policies and fairplay
Sharia Training
Sharia Training
A key component of IFIECO’s Islamic Finance Services portfolio focuses on offering training courses on a wide range of subjects and topics in Islamic Finance.
Practitioners and participants find these courses very useful in particular because:
The courses are very specifically designed to be practical and hands-on;
The course material covers real products, transactions, systems, issues, topics, & problems which the participants see and deal with every day and can relate to very well;
All trainings include hands-on and practical examples of product application.
IFIECO provides courses across the full spectrum of Islamic Finance areas, including but not limited to the following:
Islamic Finance Training Courses:
- Sukuk & Syndications (all areas)
- Corporate Products
- Investment Banking Products
- Retail Products
- Trade Finance and SME Products
- Sharia Audit
- Sharia Compliance and Control
- Sharia Governance
- Structuring Innovative Islamic Financial Products
- Structuring Sharia-Based Financial Products
- Sharia Risk Management in Islamic Banks
- Liquidity Management for Islamic Banks
- Sharia-Stress Testing in Islamic Banks
- Understanding Sharia-Compliant Contracts
- Introduction to Islamic Banking & Finance
Economics & Finance
Economics of Development
Economics of Development:
Our work covers many areas within the field of development and development programmes.
A key aspect of our work is to produce top quality knowledge products and add value meaningfully, with the specific aim of guiding policy.
Countries worked in include Bangladesh, Eswatini, Kyrgyzstan, Nepal, Nigeria, and Pakistan.
Areas
- Poverty
- Health
- Education
- Finance & budgeting
- Financial sector development
- Governance
- Social Sector
- Social Protection
- Social inclusion
- Gender development
- Economic integration
- & financial passporting
Key IFIECO Services:
- Conception & implementation of development programs
- Work programs & operational plans
- MTEFs and budgetary plans
- TA programs: design, implementation & follow-up
- Business process reengineering
- Capacity building & institutional strengthening
- Resource mobilization and optimization
- Governance reform
Macroeconomics research
Macroeconomics research and policy
Our work focuses on producing a range of knowledge products, including policy briefs, analytical
reports, technical analysis, technical report, market outlook reports, sectoral outlook reports, etc.
Key areas worked in:
- Economic growth determinants and drivers
- Modelling economic growth rates
- Oil, gas and renewables markets
- Global energy trends
- Financial sustainability
- Fiscal policy & sustainability
- Global macroeconomic trends & shifting balance
- Monetary policy, the money supply and interest rates
- Trade balance and currency issues
- Stock market reform and development
- US Dollar as reserve currency and future prospects
- Global debt crisis and the financial reset
Capital Markets & Financial Regulation
Areas of Expertise
Stock market and financial markets development & reform
Strategies to reform & re-energise stock & financial markets
Increasing retail participation in capital markets sustainably
Effective policies to improve the true free float & tradeability
Strengthening market liquidity & incentivising trading
Robust policies to reduce volatility
Sukuk and syndicated finance
Working with big-ticket Sukuk and syndicated finance transactions, from start to finish, and post-execution Structuring Sukuk
In-depth expertise of Sharia-legal review of documentation
Research, classification and development of Sukuk
Full familiarity and expertise in relation to the “Asset-backed vs asset-based/asset-lite” debate
About Us
IFIECO is a professional services firm (with a specialized, dedicated and motivated team)
We specialize in the following:
- Islamic Finance (emphasis on Sharia-Ethical Finance and Business)
- Economics & Finance
- Capital Markets
The firm’s philosophy rests on three pillars:
Ethical integrity
We approach our work from a holistic perspective, guided by a firm ethical foundation.
Professional excellence
We are committed to upholding the highest levels of professional excellence and competence in our work.
Solving your needs
Our primary objective is to understand your precise needs and to address them in the most satisfactory manner possible.
IFIECO Team:
IFIECO is a professional services firm.
Our team possess in-depth expertise and experience in the following areas:
- Islamic Banking and Finance (all areas)
- Economics
- Development Economics
- Finance
- Capital Markets
- Financial Regulation
- ESG
- Investment Advisory
» We are fluent in English, Arabic, Hindi, Urdu and Pashto. IFIECO also has its own dedicated in-house Sharia Supervisor.
Contact Us
Address:
Ist Floor, Lazenda Commercial Center
Jalan Okk Abdullah
P.O. Box 82257
87000 F.T. Labuan
Email: info@ifieco.com
