Specialist Islamic Finance Specialist job at M-Forte

Summary
Date Posted: Thursday, March 06 2025, Base Salary: Not Disclosed

JOB DETAILS:
MSC is a Government owned company incorporated in 2001 with a mandate to offer affordable credit to active rural poor and providing business development services to Cooperatives, Savings and Credit Co-operative Organizations (SACCOs), Microfinance Institutions (MFIs), Small and Medium Enterprises (SMEs), Micro, Small & Medium Enterprises (MSMEs) and Groups.
The company is supervised by the Ministry of Finance, Planning and Economic Development and governed by a Board composed of highly experienced professionals in agriculture, banking, microfinance, cooperatives, and law.
In 2017, MSC pioneered the implementation of Islamic Microfinance in Uganda, an avenue that expanded Microfinance choices to the existing clientele. To strengthen the operations of Islamic financing and improve efficiency, developing of innovative Sharia-complaint financial products, MSC seeks to engage the services of an experienced Islamic Finance Specialist to provide technical support in streamlining our operations, reviewing policies and procedures, and developing Islamic financing products
• OBJECTIVES OF THE ENGAGEMENT
• General Objectives
The overall objective of this assignment is to provide technical assistance to The Microfinance Support Centre in strengthening its Islamic finance operations, improving efficiency, and developing innovative Sharia-compliant financial products.
To direct, plan and appraise the Islamic Investment products & services to achieve the Islamic strategic / principles and initiatives, design and review the Islamic products & service investment policies, processes & procedures.

• KEY OBJECTIVES
• To ensure seamless operations within the Islamic Finance department during the next 6 months.
• To provide necessary training and mentorship to existing team members and staff
• Review and appraise clients / institutional applicants for Islamic Products and Services
• Designs and Review Islamic Products & Service Policies and Procedures
• Conduct Product knowledge session awareness of Islamic Investment Products
• Interpret Islamic financial information for the relevant stakeholders
• Translate Islamic Product policies into specific work activities
• Perform timely analysis and approval of Islamic loan / investment disbursements
• Prepare Monthly Reports on Islamic products
• Implement Islamic credit / investment policies & Guidelines
• Provides assurance on Islamic product credit exposures /risk limits

5.0 SCOPE OF WORK
The Specialist Islamic Finance Specialist shall undertake the following tasks:
1. Develop the Islamic policies, processes and procedures, operational guidelines, work plan, budgets and reporting tools
2. Promote Islamic finance across the country to ensure increased growth and outreach.
3. Build, retain & acquire new business from Target Markets of Islamic Investment products
4. Monitor and prepare appropriate reports on Islamic investment projects afforded to SACCOs, MFIs, Groups, SMEs, Retail & individual persons afforded Islamic investments & grants;
5. Oversee compliance with MSC’s Islamic finance operations manual, across all processes and procedures of company undertakings.
6. Research and advice management of new developments in technology, markets, products and systems that would propel and scale Islamic Finance delivery across the country.
7. Manage the risk profile of the Islamic finance projects
8. Maintain excellent rapport and relationships with potential and existing clients in order to obtain business and referrals.
6.0 DURATION OF THE ASSIGNMENT
The assignment is expected to commence on 1st April 2025 and be completed within 6 months

DELIVERABLES
The Specialist Islamic Finance Specialist shall deliver the following:
1. A comprehensive report on operational streamlining, policy and procedure review, and technical support provided.
2. A benchmarking report on best practices in Islamic finance from other providers.
3. A product development report, including recommendations for new Islamic financing products.
4. A capacity-building report, including training programs and materials developed.
5. Regular progress reports.

Qualifications and Experience
The Specialist Islamic Finance Specialist shall have:
• Honors degree in any of the following fields; Business Administration, Economics, Statistics, Commerce, Development Finance and Banking or any other related discipline from a recognized University / Institution.
• Master’s degree in Economics, Commerce, Micro Finance, Banking, Business Administration or any other related field from a recognized University / Institution.
• Possess a Post Graduate Qualification in Islamic Finance Investment Management is added advantage
• Certificate in Islamic Finance within the local or regional markets is an added advantage
• Possession of relevant professional qualification / analytical skill will be an added advantage specializing in Certificate of Financial Analysts (CFA), Financial Risk Manager (FRM) Certified Credit management Program (CCM)
• Eight (08) years of progressive working experience in Credit Management or related field with at least 4 years of related work experience at the middle management level.
• Possession of relevant computer skills is a must
Competencies/Person Specifications:
• Ability to demonstrate excellent managerial skills.
o Ability to demonstrate a good understanding of Microfinance / financial institution management.
o Ability to demonstrate analytical skills, clear decision-making ability, highest standards of integrity.
o Ability to demonstrable objectivity and impartiality, accepts responsibility and accountability and ability to work under pressure with tight deadlines.
o Ability to collaborate with different stakeholders.
o Ability to initiate and manage change.
o Ability to influence others.
Language
The Specialist Islamic Finance Specialist shall be fluent in English.
Duty Station
The Specialist Islamic Finance Specialist shall be based at the Head Office.

Confidentiality
The Specialist Islamic Finance Specialist shall maintain confidentiality and not disclose any information related to MSC or its operations.
• FACILITIES, SERVICES AND RESOURCES TO BE PROVIDED MSC SHALL;
• Provide all relevant data that will support the Consultant in conducting the needs assessment.
• Coordinate the assignment
• Provision of Office space and work tools
• Effect payment for the services rendered as per the contract

9. ASSIGNMENT MANAGEMENT & ADMINISTRATION
The Consultant shall work closely with the Head of Credit and Investment
All reports shall however be addressed to the Executive Director who will clear the entire provider’s deliverables.
• REMUNERATION TERMS

Payment to the Specialist shall be as follows;
• A monthly retainer fee.
• Facilitation allowances on MSC rates as when working out of Kampala.

Work Hours: 8

Experience in Months: 96

Level of Education: Postgraduate Degree

Job application procedure
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