Housing Development Finance Corporation (HDFC) PLC, established in January 2004, is the only specialized housing finance institution in the Maldives. HDFC is a privatized company with International Shareholders represented by the International Finance Corporation (IFC of World Bank Group), Asian Development Bank, and HDFC Bank Ltd. of India, jointly holding 51% of shares.

HDFC Amna is the Islamic Finance Window of HDFC PLC, inaugurated on May 26, 2012. To further support the regulatory function of Shariah Compliance within the HDFC Amna team, we are seeking a vibrant and dedicated candidate to join our team as a Shariah Compliance Analyst. 

Job Description

Shariah Compliance Research & Legal Documentation

• Assist in drafting, reviewing, and vetting Islamic finance contracts, agreements, and policies to ensure compliance with Internal Shariah contracts and applicable regulatory standards.
• Assist in drafting and translating legal documentation templates to ensure alignment with Shariah requirements and company policies.
• Support in conducting Shariah research on new product development and prepare conceptual papers for submission to the Shariah Committee.
• Respond to Shariah queries from internal departments with well-researched guidance based on recognized Shariah standards.
• Collaborate with Legal and Risk teams to assess Shariah implications of new products and operational policies.

Monitoring

• Assist in Shariah compliance monitoring, including Shariah risk assessments and internal control functions.
• Support daily monitoring of Shariah resolutions across HDFC Amna’s operations.
• Conduct periodic reviews of marketing and promotional materials to ensure compliance with Shariah guidelines.
• Analyse transactions, policies, and reports to identify potential Shariah non-compliance risks.
• Conduct reviews of operations, products, and services to assess compliance with Shariah principles.
• Assist in developing and implementing remediation plans for any identified Shariah Non-Compliance (SNC) cases.

Training & Awareness

• Support the Shariah Compliance Manager (SCO) in organizing and conducting Shariah training programs for employees and management.
• Prepare training materials and lead sessions on Islamic finance principles.
• Create awareness materials and provide updates on Shariah regulations and standards to ensure organization-wide understanding and compliance.
• Stay updated with evolving Shariah regulations, AAOIFI standards, and MMA guidelines, and advise relevant departments accordingly.

General Functions

• Assist SCO in any other assigned additional tasks.

Qualifications and Skills

Educational Requirement

• Bachelor’s degree in Shariah, Shariah & Law, Fiqh al-Muamalat, Islamic Banking & Finance, or a related field.

Experience & Skills

• Minimum of 1 years of experience in a related role.
• Strong understanding of Islamic banking and finance principles, contracts, and Shariah rulings related to Islamic financing products.
• Strong grasp of Shariah governance frameworks, AAOIFI standards, and relevant regulatory guidelines.
• Experience in drafting and reviewing Shariah-compliant contracts, agreements, and policies is an added advantage.
• Strong research, translation, and analytical skills with the ability to interpret and apply Shariah principles in financial transactions.
• Ability to understand and prepare Shariah compliance and audit reports, and risk assessments.
• Proficient in written and verbal communication in both English and Dhivehi.
• Excellent coordination, teamwork, and organizational skills.

Salary: Salary ranging from MVR 18,000 to 20,000 commensurate with qualifications and experience.

Other Benefits:

• Staff Health Insurance Plan
• Staff financing Scheme
• Annual Bonus

Working Hours: The selected candidate will be required to work from 08:00 to 16:00 hrs.,Sunday – Thursday.

Documents Required:

• Interested candidates are requested to fill the application form and submit the required documents using the following link:

https://form.jotform.com/243588907905471

Note: Applications will only be accepted through the above form.

Deadline for Application submission: On or before 07^th July 2025, 14:30.

Note: Only shortlisted candidates will be contacted for interview.

Human Resource Department

Housing Development Finance Corporation Plc., 3^rd Floor,

Tel: +960 3334666; Fax: +960 3315138; email: [email protected]