1. Banking Consultancy

The scope of services primarily focus on :-

  • Establishment of Islamic financial institutions
  • Migration of conventional banking to Islamic banking operations
  • Provision of support and advisory services related to Shari'ah-based financial/banking operations covering inter alia:-
  • Corporate governance
  • Risk management and compliance
  • High level policy and procedure
  • IT system, design and implementation
  • New product design and development
  • Fund management product design

2. Takaful Consultancy

  • Setting up of takaful operations
  • Best practice standards
  • Product development and designs
  • Risk and actuarial advisory
  • Arrangement of retakaful needs
  • Merger and acquisition

3. Project & Corporate Advisory

Project Advisory Services
  • Preparation and/or evaluation of financial feasibility studies (incl. structuring financial needs)
  • Fund raising related activities (sourcing of financing & negotiation with funders)
Corporate Advisory Services
  • Mergers & acquisition advisory and corporate finance functions
  • Transformation/conversion of conventional banks/insurance into Islamic banks/takaful
  • Project management of financial institutions initiatives

 

Due Diligence Services
  • Financial, operation, technology and shariah due diligence
  • Risk evaluations, control measures and risk management
  • Client evaluation & milestone achievements and testing of financial models
  • Market reassessment, monitoring and evaluation processes

 4. Training

  • Design and conducting of training programme on Islamic banking, finance and takaful
  • Compilation, assembling and writing of training materials for products and operation
  • Review, amend and update of training materials and modules including Shariah discussions and deliberations
  • Facilitating customised and specialized teaching and guiding on the job training

5. Shari’ah Framework Advisory

Interpretation of the Shari’ah differs between various schools of jurisprudences. In some countries, these rules are established centrally whereas in others they are open to local interpretation. There is no internationally agreed standard approach.

For banks or takaful companies creating new products, this presents the first challenge - even to those with established Islamic financial services.

We assist in drawing up the framework for shari’ah decisions and the governance principles for compliance requirements and the Shari’ah audit processes.

 
Copyright (c) 2011. First International Consulting Sdn Bhd. All rights reserved.