Result of Service
To ensure compliance with Shariah principles in all aspects of the capital market.
To enhance transparency, predictability, and investor confidence in non-interest finance.
To build capacity among market participants and regulators through targeted training programs
Work Location
Addis Ababa
Expected duration
4 Months
Duties and Responsibilities
The Consultant will work under the overall guidance of the Director of the Macroeconomics, Finance, Governance & Planning (MFGPD) and the Chief, Finance and Domestic Resource Mobilization Section (FDRMS), in close collaboration with the assigned ECA Staff. He/she will work under the direct supervision of a Chief, Finance and Domestic Resource Mobilization Section The tasks to be performed by the Consultant include:
1. Develop comprehensive guidelines for the issuance, trading, and settlement of non-interest financial instruments and products including Guidelines on Non-Interest (Islamic) Funds and REITs
2. Establish guidelines for ensuring Shariah compliance in all market activities, including the role of Shariah supervisory boards.
3. Assess and recommend improvements to the market infrastructure to support non-interest finance activities.
4. Identify and develop strategies to mitigate risks specific to non-interest finance, including credit risk, market risk, and operational risk.
5. Develop guidelines to protect investors and ensure fair market practices.
6. Recommend and implement training programs for market participants, regulators, and the public to enhance understanding and expertise in non-interest finance.
Qualifications/special skills
An advanced degree (master's degree or equivalent) in the field of Capital Markets, Finance or Islamic Economics, Banking and Finance or a relevant field is required. A first-level university degree in combination with qualifying experience may be accepted in lieu of the advanced university degree. A minimum of 5 years' progressively responsible experience at national and/or international level in Islamic finance and global Shariah capital markets is required.
Experience working with government entities, including ministries of finance and capital market regulatory authorities in sub-Saharan Africa and international Islamic standards bodies is desirable. Experience in formulating regulations on Islamic finance is required. with a Past experience working with international organizations and African countries is desirable. Women and persons with disabilities are encouraged to apply. As per the UN Convention on the Rights of Persons with Disabilities, do you identify as a person with a disability? If Yes, please specify if you need any reasonable accommodation to support your participation in the recruitment and selection process?
Languages
English and French are the working languages of the United Nations Secretariat. For this post, the consultant must be fluent in written and spoken English and Arabic.
Additional Information
Not available.