Shariah Compliance Officer job at The People's Bank of Zanzibar (PBZ)

Vacancy title:
Shariah Compliance Officer

[ Type: FULL TIME , Industry: Banking , Category: Accounting & Finance ]

Jobs at:

The People's Bank of Zanzibar (PBZ)

Deadline of this Job:
Thursday, March 28 2024 

Duty Station:
Within Tanzania , Unguja, East Africa

Date Posted: Monday, March 25 2024, Base Salary: Not Disclosed

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Learn more about The People's Bank of Zanzibar (PBZ)
The People's Bank of Zanzibar (PBZ) jobs in Tanzania

The People’s Bank of Zanzibar Limited was established in 1966 under Cap 153 of the Zanzibar Companies Decree. Its primary function is to carry on businesses on commercial banking both in Conventional and Islamic Banking Services in all its branches and departments within the United Republic of Tanzania, Dar es Salaam, Dodoma and Mtwara with power to receive deposits, invest lend money and other related banking services.

PBZ is 100% owned by the Revolutionary Government of Zanzibar under supervision of the President’s Office, Finance and Planning. The Bank is currently undertaking expansion of its network on products and services and thus hereby invites applications from qualified and energetic Tanzanians.


Minimum Qualifications, Experience and Competency.
1. Holder of Bachelor Degree of Banking and Finance, Islamic Banking, Laws or its equivalent and related qualifications.
2. Islamic Banking knowledge is highly recommended.
• Computer literacy in MS Office, Word Processing, Spreadsheet, Data Base and other packages shall be considered.
1. Professional qualifications shall be an added advantage.
2. Strong knowledge on Banking product and services. vi. Exceptional Customer Service and Communication Skills (both in Kiswahili and English).
vii. Strong interpersonal skills to build rapport with customers and colleagues. viii. Able to work independently, effective, efficiently in fast paced environment while maintaining accuracy.
1. Flexibility to work anywhere.
2. Age limit of not more than thirty-five (35) years as at the date of this advert.

B. Duties and Responsibility
1. Review and Advisory: Regularly review business activities, contracts, and transactions to ensure they adhere to Shariah principles. Provide guidance and advice to management on Shariah compliance matters.
1. Policy Development: Develop, implement, and update Shariah-compliant policies and procedures for the organization, ensuring alignment with Islamic finance principles.
• Training and Awareness: Conduct training sessions for staff to enhance their understanding of Shariah compliance and promote awareness of Islamic finance principles.
1. Audit and Monitoring: Conduct regular audits and monitoring of business operations to verify compliance with Shariah standards. Identify and rectify any non-compliance issues.
• Documentation: Maintain comprehensive documentation of Shariah compliance processes, policies, and decisions. Ensure transparency and clarity in reporting.
• Communication with Shariah Board: Facilitate communication between the organization and its Shariah Advisory Board, ensuring the board’s guidance is sought and incorporated appropriately.
• Product Development: Participate in the development of new financial products or services, ensuring they comply with Islamic finance principles. Seek approval from the Shariah Advisory Board when necessary.
• Risk Management: Identify and manage Shariah-related risks associated with the organization’s operations. Develop strategies to mitigate potential risks and ensure compliance. ix.Customer Service : Address queries related to Shariah compliance from customers, stakeholders, and regulatory bodies. Maintain a high standard of customer service in this regard.
• Regulatory Compliance: Stay informed about changes in Islamic finance regulations and ensure the organization’s activities comply with relevant legal and regulatory requirements.
• Reporting: Prepare and submit regular reports on the organization’s Shariah compliance status to senior management, regulatory authorities, and Shariah boards.
• Any other official duties that will be assigned by the supervisor at any time.

C. Terms of Service: Permanent Employment.

Work Hours: 8

Experience in Months: 36

Level of Education:
Bachelor Degree

Job application procedure
Interested and Qualified? Click here to apply

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Job Info
Job Category: Accounting/ Finance jobs in Tanzania
Job Type: Full-time
Deadline of this Job: Thursday, March 28 2024
Duty Station: Unguja
Posted: 25-03-2024
No of Jobs: 1
Start Publishing: 25-03-2024
Stop Publishing (Put date of 2030): 25-03-2077
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