IDB1454 - Director, Cooperation and Integration Department

To provide strategic direction, motivational leadership and operational oversight for the Cooperation and Integration Department. Determine the strategy for the Department, set and deliver ambitious objectives that enable IDB to achieve its goals, and take the significant operational decisions.
To actively promote and enhance cooperation between OIC Member Countries and collaborates with OIC and its Standing Committees, Specialized and Affiliated Institutions on behalf of the IDB Group on matters related to cooperation and coordination between Member countries.

Senior FinnOne Product Specialist - GL & LMS Module (Techno Functional)

The candidate must have worked as system analyst (Techno Functional) for around 8-10 years in the Islamic Financing, whose specialized in FinnOne software with focus on the followings:-

Loan Origination, Loan Management.
General Ledger, Sub Ledger, Inter-branch accounting and Bank Book Reconciliation " Loan Accounting Life Cycle".
Personal, Auto, and Mortgage loan products, Loan Repayment Schedules, Loan servicing and Charges.
PDC Management System.

Institutional Sales Fixed Income / Islamic Products (3 positions: Saudi Arabia, Qatar and Bahrain)

SJ Seymour Group is the leading independent Fixed Income specialist in Asia.

We are seeking to employ highly experienced, professional sales individuals with a proven record of success and established clientele in the Middle East. In addition to a wide general knowledge of capital markets, successful candidates should be able to demonstrate specialist skills in one or more of the following areas: emerging market debts, structured debt products or Islamic capital market products.

Chief Economist of Islamic Banking

One of the most respected global Islamic Banks requires a Chief Economist reporting to the Bank’s president to provide intellectual leadership and guidance to the groups development strategy and economic research agenda at Global, Regional and Country Levels.

Senior Consultants, Business Development & Project Managers

Gulf Advisors is a rapidly expanding financial and management consultancy group based in Jeddah and operating in Saudi Arabia, U.A.E., Bahrain, Kuwait and Qatar. We are proud to announce that, following the awarding of our Capital Markets Authority licenses, we are currently recruiting for the following positions to be based at our Head Office.

Senior Consultants, Business Development & Project Managers
Ideal applicants will have more than 3 years experience in a relevant consulting organization. They must be strategic thinkers, skilled at interacting effectively with top tier clients. They will be expert at initiating proposals, delivering presentations and maintaining strong client relationships. Preference will be given to applicants with experience in Islamic Banking & Finance, Corporate Finance, or Business Development as well as in Economics or Marketing. Individuals with consulting experience in the Public Sector are also encouraged to apply. Applicants should ideally be available for travel across the region.

Consultants & Business Analysts

Senior Research Analyst

Key tasks in this position:
? Perform fundamental security analysis of companies through analysis of financial
statements, sector research, review of outside research and ongoing interaction
with companies.
? Write buy side Coverage Reports and Sector Reports with suitable investment
rationale, valuation comparison, risk assessment, and detailed analysis of potential
profitability and growth.
? Maintain detailed valuation models for companies: DCF, Relative Valuation, Sum of
Parts Valuation, etc., including in-depth financial statement analysis & forecast of
quarterly earnings.
? Prepare composite scorecards for companies based on key metrics; including
liquidity analysis and key revenue drivers.
? Build and update company financial forecast models, and carry out periodic model
audit reviews.
? Conduct macroeconomic & microeconomic country analysis; which includes
studying the industries, sectors, and the competitive landscape.
? Prepare presentations for pitching research ideas and attend analyst conferences.

Director – Distribution and Placement

Job Purpose:

The Director of Distribution and Placement is to oversee the whole department whilst directly
reporting to the CEO.

Brief Description:

This position requires a talented person with a strong placement & distribution backgrounds;
who can roll up his/her sleeves and get the job done.
This person must have solid high level networking (HNW & Institutional) experience along with
excellent product knowledge (technical understanding of investment products).

Senior Relationship Manager - Commercial Banking

Major Role Responsibility

• Responsible for meeting/exceeding business growth targets

• Meets potential new clients and spends substantial time on new business development.

• Analyzes working capital requirements for clients.

• Monitors financial health of the clients.

• Analyzes and target opportunities to increase share of wallet

• Makes frequent visits to clients' offices to establish strong relationships and keep track of developments.

• Proposing enhancements to existing products / relationships.

• Proactively identifies needs of the clients and prepares to cater to these needs when they come.

• Solicit new relationship for the bank, based on approved KPIs and asset targets


Senior Compliance Officer

Key Accountabilities:

• Vostro accounts- control the account opening process related to Compliance and AML/KYC function.

• Follow SAMA and banks internal guidelines. Make periodic review of account as well as monitor Transactions.

• Nostro Accounts - Make sure that Al Rajhi AML/KYC questionnaire is in place and updated periodically as per Compliance/SAMA guidelines

• Nostro Accounts Transactions- Attend periodic queries on AML/KYC issues on outgoing transactions especially outward Remittances.

• Coordinate with Remittance/Operation/Compliance to answer the queries. Keep FI RM/AM in the loop

• Correspondent AML/KYC questionnaire and queries Handle the AML/KYC questionnaires in coordination with Compliance/AML-KYC and concerned FI RM/AM.

• Involve Head of FI/AGM if Reputational issue is concerned

• Coordination with Compliance/AML-KYC dept. Continuous contact with them and update FI staff any update received.

• Coordination with Business units (Trade, Treasury, Tahweel, Operation etc.) on Compliance/AML-KYC matters of international in nature.

• Training the FI staff for Compliance/AML-KYC awareness

IT and Engineers - KSA

IT and Shared Services professionals , Information Security Specialists, Senior Business Analysts, Senior Program Managers, Senior System Analysts

Candidates are expected to have over 5 years of experience at a financial institution.

Senior Architect (Dammam) , Minimum 5 years experience in Design, Supervising, Project Management
Senior Architect (Riyadh), Minimum 5 years experience in Design, Supervising, Project Management
Senior Supervisor (Riyadh), Minimum 2 years experience in building mobilization, preferably with a Master’s degree in IT

IDB1008 - Young Professionals Program (YPP)

The Young Professionals Program (YPP) is the strategic talent pipeline for the professional career in the Islamic Development Bank (IDB) Group. The Program is designed for outstanding young graduates who can significantly help the IDB Group to carry out its mission and attain its objectives.

This Program enables each Young Professional (YP) to receive extensive exposure and experience of the IDB Group’s various activities through job rotations in different departments. Participants will initially spend two weeks Orientation stage in HRMD. Then, 27 months in Foundation stage which will be split into three rotations of 9 months each in IDB Group departments.

Participants will also benefit from a coaching/mentoring arrangement and a wide range of relevant training and developmental opportunities.

Upon successful program completion, the participant will gradually climb up the professional grades in the IDB Group.

Closing Date: 31-Dec-2012

Legal & Compliance - Lawyer to act as J.P. Morgan’s country counsel in Riyadh, Saudi Arabia

The Legal & Compliance Department of JP Morgan Chase & Co (JPM). seeks an attorney in Riyadh, Saudi Arabia ("KSA") to support its franchise across the Corporate & Investment Bank (CIB) businesses, including Global Corporate Bank (GCB), Global Investment Bank (IB) and Treasury Services (TS). The Legal & Compliance Department of JP Morgan Chase & Co. comprises over 500 lawyers globally.

The attorney will be based in JPM Riyadh branch and support JPM's KSA senior management. The attorney will partner and work closely with teams across the CIB including GCB, IB and TS business lines to achieve strategic objectives in growing the ***conventional and Islamic*** businesses in KSA and globally.

Affordable housing in GCC: National policies and future needs

Affordable housing is a serious problem in the GCC countries since the population is growing. Already measures are being taken to address this problem. For example, amendments to the law on land and building regulations in Bahrain makes construction of additional houses on plots of land and the enlargement of small houses possible. The Diar Al-Muharraq project shall provide over 30,000 housing units. In Kuwait, a budget of 140 billion is designated to the cause of dealing with the urgent need for housing. The funding is part of the country's Five Year Plan 2010-14.

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Saudi Hollandi Bank issues Sukuk in Saudi Riyals

A few days ago, the Board of Directors of Saudi Hollandi Bank has made a decision to issue Sukuk worth SR 1,400 million. The issuance is a private offering aiming to support its capital base by using a Shariah compliant structure. The latter is to be approved by the competent authorities.

SEDCO launches Riyali financial literacy program

Saudi management company SEDCO Holding has started its corporate social responsibility program - Riyali. The program adresses the educational needs of the Saudi population in terms of financial literacy and aims to give people the financial skills to achieve a desirable standard of living. In the first phase of this program students will be the subjects.

Skill shortage obstructs growth of Islamic finance

According to Bank Negara Malaysia’s Shariah Advisory Council, there is a skill shortage in the Islamic finance Industry. In order to prevent it from hindering the growth of the Islamic Finance, Southeast Asian universities are adding Islamic finance courses. The new programmes will start at universitas Muhammadiyah in Malang, Indonesia and Kuala Lumpur-based International Centre for Education in Islamic Finance (INCEIF). The new courses shall bridge the gap between what was formerly taught and what is requred by employers.


New internship to analyze sector with over $270 billion in estimated assets

Riyadh, 20 July 2012: Today a multinational group of companies dedicated to the Islamic banking industry announced the first nominee for the Islamic Banking & Finance internship, cosponsored by Bank of London & the Middle East ( in London, Wafi International in Riyadh ( and Safa Investment Services ( in Geneva and Riyadh.

Thomas R. Woods, graduating end 2012 from Durham University (U.K.) with a Master’s degree in Islamic Finance, was chosen to serve for six months. Fluent in Arabic, Mr. Woods will focus first on global capital markets and professional asset management from the BLME offices in London, and then will conduct the first-ever study of historic investment returns at Islamic endowments (awqaf) at the Safa offices in Riyadh. Wafi will supervise Mr. Woods’ work in Saudi Arabia.

Saudi mortgage law to boost takaful industry

According to the Saudi Arabian Mortgage Law which was adopted by the Council of Ministers earlier this month, insurance will be a prerequisite for mortgages. This means that without insurance, no No mortgage finance provider would finance a house. The new law is expected to affect positively or even to boost the Saudi insurance market and the mortgage takaful in particular.

BoA ML Report on GUlf Countries: GCC 2020: Time to shift gears

Bank of Amercia/Merrill Lynch released a report about GCC 2020 looking at the core trends of modernising infrastructure, growth and decoupling from oil and that the region should look towards higher value added sectors. "First, and most immediately, we believe heavy investment in petrochemicals will now begin to see improving returns due to their global competitive advantage. Second, we believe a shift will require an ongoing need to invest in regional infrastructure. Third, we see a social and economic need for a growing middle class, supporting the growth of consumer sectors. Our message: own Saudi petchems, own GCC builders and building materials, own Saudi and UAE consumer plays, own Saudi banks."

CALL FOR PAPERS - Islamic capital markets

CALL FOR PAPERS - Islamic capital markets, Deadline: Submission of Abstract: March 15, 2012
Islamic Research and Training Istitute – Islamic Development Bank, Jeddah, Saudi Arabia

Islamic capital markets are to become an important part of the Islamic financial system. While new products are steadily coming into the market and the Islamic investment instrument are growing, Islamic capital markets still constitute a very small niche. For a discernible impact on the investment promotion, market stability, and equitable socio-economic development there is a growing need to accelerate the process of product development, to create conducive regulatory environment and to improve the market practices. This task requires development of new human capital and knowledge base.

With this larger objective, the immediate focus of this conference is on three issues:
• Design and use of Islamic financial products for Islamic capital markets.
• Identification of the needs for and the implications of market regulations for development of Islamic capital market.

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