Compliance

Principal Islamic Asset Management Sdn Bhd (formerly known as CIMB-Principal Islamic Asset Management Sdn Bhd) ("Principal") has a compliance unit which is responsible to ensure that all business conducts and practices of the Company complies with securities laws, regulations and relevant guidelines which are gazetted and issued by the regulators.

The compliance unit reports directly to the board of directors and works closely with the senior management personnel on all compliance matters. The Unit also liaises with other departments within the Company to discharge the duties and functions effectively.

Other responsibilities include: Establishing, maintaining and administering the implementation of policies and procedures to detect and prevent breaches of securities laws, regulations and relevant guidelines; Preparing and tabling compliance reviews to the board of directors; Maintaining and reviewing compliance procedures for each area of the Company’s operation; Examining and investigating any irregularity in the Company’s operations; Assisting in training and educating staff members on compliance matters, industry and regulatory developments.

Principal has developed a set of "Rules of Business Conduct" which applies to all employees that set forth Principal's commitment to conduct its business lawfully with high credibility and integrity. The culture dictates that compliance is each employee's responsibility. Principal also has a Business Continuity Plan (BCP) in place that details the Company’s back-up plans for all key systems and proceeding of operations in the event of disaster.

Risk Management

Principal's risk management comprises dedicated risk management and compliance teams, and members of the investment committee.

The team works in tandem with the investment team to ensure the level of risk meets the expectations of clients' overall performance targets that are set against the appropriate benchmark. Portfolios are constructed and managed within pre-determined guidelines such as risk budgets that will be monitored regularly.

Investment Committee

Principal Islamic Asset Management Sdn Bhd (formerly known as CIMB-Principal Islamic Asset Management Sdn Bhd) leverages on the expertise of both Principal Global Investors and Principal Asset Management Berhad (formerly known as CIMB-Principal Islamic Asset Management Sdn Bhd) with the objective of delivering top-tier investment capabilities.

Principal Global Investors - Principal Global Equities Team

  • 70 dedicated equity investment professionals
  • Worldwide Presence
  • Investment Capabilities:
    • Global Large Cap
    • Global Small Cap
    • Global Emerging Markets

Principal Asset Management Berhad - Equity Team

  • 44 dedicated equity investment professionals
  • South East Asia Presence - Malaysia, Indonesia, Thailand, Singapore offices
  • Investment Capabilities:
    • ASEAN
    • Malaysia
    • Asia Pacific – ex Japan
    • Global Equities

Principal Islamic Asset Management Sdn Bhd - Global Sukuk Team 

Mohd Fadzil Mohamed
Chief Investment Officer

Fadzil is currently the Chief Investment Officer of Principal Islamic Asset Management Sdn Bhd. He has nearly 20 years experience in the financial industry in various capacity, with the last 16 years specialising in fixed income fund management, economics and fixed income research. 

Prior to joining Principal Islamic Asset Management Sdn Bhd, he was the Chief Executive Officer an Chief Investment Officer for Fixed Income of a Malaysian fund management company. He recently won two industry performance awards for his previous company, for Best MYR Bond Fund and Best MYR Islamic Bond Fund categories. He holds a BSc (Econs) Hons degree in Accounting and Finance from University of Aberystwyth, Wales, UK.

Rina Izzati Raduan    
Portfolio Manager 

Rina joined Principal Islamic Asset Management Sdn Bhd beginning November 2015 as the Global Sukuk Portfolio Manager. She has been in the banking industry since 2004 where she started her career in Treasury with a focus in liquidity management as well as capital markets.

Prior to joining Principal Islamic Asset Management Sdn Bhd, she was the Fixed Income Portfolio Manager in a local Islamic bank where she co-manages the bank's fixed income portfolios and assisted the bank in maintaining its top position as the Islamic Principal Dealer. She received her MBA from the International Islamic University Malaysia and a Bachelor's Degree in Business Administration (Finance) from Universiti Putra Malaysia.

Ruben Khoo Sheng Luen
Credit Analyst

Reuben has more than 10 years experience in the financial industry in various capacity, with the last few years specializing in fixed income research. Prior to joining Principal Islamic Asset Management Sdn Bhd, he was the Senior Credit Analyst of a Malaysian fund management company. He started his career as an analyst with Malaysian Rating Corporation, performing credit analyses and assigning credit ratings on corporate debt and structured finance issuers and instruments. Reuben holds a BSc degree in Accounting and Finance from London School of Economics, UK. He has also earned the right to use the designation Chartered Financial Analyst (CFA).

Shariah Adviser

UCITS: CIMB Islamic's Shariah committee

Sheikh Professor Dr. Mohammad Hashim Kamali    
Founding Chief Executive Officer (“CEO”), International Institute of Advanced Islamic Studies (IAIS) Malaysia 

Sheikh Professor Dr. Mohammad Hashim Kamali is the Founding CEO of the International Institute of Advanced Islamic Studies (IAIS) Malaysia. He was Professor of Islamic Law and Jurisprudence at the Ahmad Ibrahim Kulliyyah of Laws, International Islamic University, Malaysia (1985-2004), and also Dean of the International Institute of Islamic Thought and Civilisation (ISTAC) from 2004 to 2006.

He serves on the advisory boards of 13 local and international academic journals; addressed over 200 national and international conferences, and has published 28 books and over 170 academic articles. He is Senior Fellow of the following: Royal Academy of Jordan; Institute of Advanced Study Berlin and Afghanistan Academy of Sciences.

His works have been translated into Bahasa Malaysia, Bahasa Indonesia, Farsi, Pashto, Dari, Arabic, Bengali, Bosnian, German, Italian, Turkish and Japanese. He is listed in a number of leading Who’s Who in the world. He holds a 1st Class, BA Honours degree in Law and Political Science from Kabul University, Afghanistan, LLM degree from the London School of Economics, England and a PhD in Islamic Law from the School of Oriental & African Studies, University of London, England.

Sheikh Dr. Nedham Yaqoobi    
Independent Shariah Advisor 

Sheikh Dr. Nedham Yaqoobi, a Bahrain national and is a renowned Shariah scholar. He sits on various Shariah boards of Islamic banking and financial institutions globally including the Dow Jones Islamic Market Indexes (DJIM), the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the International Islamic Financial Market (IIFM). He is the author of several articles and publications on Islamic finance and other sciences, in English and Arabic. 

He was educated in the classical Shariah in his native Bahrain and in Makkah under the guidance of eminent scholars, including Sheikh Abdulla al-Farisi, Sheikh Yusuf al-Siddiqi, Sheikh Muhammed Saleh al-Abbasi, Sheikh Muhhamed Yasin al Fadani (Makkah), Shaikh Habib-ur-Rahman A. Zaini (India), Sheikh Abdulla bin Al-Siddiq Al-Ghumar (Morocco), and others. He has a BA in Economics and Comparative Religion and M.SC. in Finance from McGill University, Montreal, Canada and PhD in Islamic Law at University of Wales, United Kingdom.

Sheikh Yang Amat Arif Dato‘ Dr. Haji Mohd Na’im Bin Haji Mokhtar    
Syariah Appeal Court Judge, Department of Syariah Judiciary Malaysia 

Sheikh Yang Amat Arif Dato’ Dr. Haji Mohd Na’im Bin Haji Mokhtar is a Malaysian, currently serving as Syariah Appeal Court Judge, Department of Syariah Judiciary Malaysia. He served as a lecturer at Ahmad Ibrahim Kuliyyah of Laws, International Islamic University, Malaysia from 1990 – 1997. He then joined Messrs. Zulkifli Yong, Azmi & Co as a Shariah Lawyer before being appointed as a Shariah Judge in 1998.

He was also assigned as a Research Officer at the Malaysian Shariah Judiciary Department, Prime Minister’s Department from 2003 – 2004 as well as Shariah Subordinate Court Judge for Federal Territory from 2007 – 2008 and Shariah Prosecutor for Federal Territory in 2008. In 2009 he served as Director, Family Support Division at Department of Syariah Judiciary of Malaysia before being elevated as Chief Syarie Judge of Selangor. He also served as Visiting Fellow, Islamic Legal Studies Program at Harvard Law School, Harvard University, USA and as Chevening Visiting Fellow, Oxford Centre for Islamic Studies, Oxford University in 2008/2009.

He received his LLB degree from International Islamic University, Malaysia (IIUM), LLM from University of London, United Kingdom and PhD in Shariah from Universiti Kebangsaan Malaysia. He also holds a Diploma in Shariah Law & Practice and a Diploma in Administration & Islamic Judiciary both from Islamic International University, Malaysia (IIUM).

Sheikh Assoc. Prof. Dr. Shafaai Bin Musa    
Associate Professor, Ahmad Ibrahim Kuliyyah of Laws, Islamic International University, Malaysia (IIUM) 

Sheikh Associate Professor Dr. Shafaai bin Musa has more than 15 years of experience in teaching Islamic law and jurisprudence and wrote several researches and articles. He also served as a member of Shariah Expert Panel for the Department of Islamic Development Malaysia since 2005.

He formerly served as Chief Executive Officer, Johor Institute of Integrity, Leadership and Training (IKLAS), Executive Director, Centre for Continuing Education International Islamic University Malaysia and Chief Executive Officer, International Islamic College cum Chief Executive Officer, International Islamic University Malaysia Higher Education Sdn. Bhd. 

He received his Bachelor’s Degree in Shariah from University of Al-Azhar, Egypt, a Master’s Degree in Comparative Laws from IIUM and Ph.D. from Glasgow Caledonian University, UK.

Dr. Yousef bin Abdullah Al Shubaily    
Professor, Comparative Jurisprudence Department, High Institute of Judiciary, Imam Muhammad bin Saud Islamic University, Kingdom of Saudi Arabia 

Sheikh Professor Dr. Yousef Abdullah Al Shubaily is a citizen of the Kingdom of Saudi Arabia. He is currently attached as a Professor at the Comparative Jurisprudence Department, High Institute of Judiciary, Imam Muhammad Bin Saud Islamic University in the Kingdom. He also serves as a Co-operating professor for the American Open University.

Beyond his academic career, he has an extensive experience in serving various Shariah boards of a number of banks and financial institutions in the Kingdom of Saudi Arabia, Bahrain, Kuwait, UAE, Qatar, USA and Britain. He also holds advisory functions in numerous religious and charitable organisations within and outside the Kingdom.

He has written many books, academic papers and articles on Islamic jurisprudence and commercial law and has actively participated in numerous seminars and conventions in related areas. He also participates in religious and economic programs on television and radio broadcasts in the Kingdom of Saudi Arabia and abroad.

He received his Bachelor Degree from the Faculty of Shariah and Fundamentals of Islam and a Masters Degree from the Department of Comparative Jurisprudence at Muhammad bin Saud Islamic University and Ph.D in Islamic Jurisprudence from Muhammad bin Saud Islamic University.

Associate Professor Dr. Aishath Muneeza    
International Centre for Education in Islamic Finance (INCEIF), Malaysia 

Associate Professor Dr Aishath Muneeza of INCEIF is one of the key founder of Islamic finance in Maldives. She is the first female Deputy Minister of Ministry of Islamic Affairs and the first chairperson of the Hajj Pilgrimage Fund of Maldives. Currently, she is the chairperson of Maldives Centre for Islamic Finance.

She has published books and numerous articles on Islamic Finance and her research areas include legal studies & corporate governance applicable to Islamic Finance. She holds a doctorate degree in law from International Islamic University of Malaysia.She structured the first and second corporate sukuks, sovereign private sukuk and Islamic Treasury instruments for the government of Maldives. She has played the key role in offering of Islamic finance products by more than eleven institutions. She also designed the first Islamic microfinance scheme offered in Maldives. She sits in Shariah advisory committees of financial institutions offering Islamic financial services. She is the chairperson of Shariah Advisory Council of CMDA, the capital market regulatory authority of Maldives since 2011. She is the only registered Shariah Adviser for structuring capital market instruments in Maldives and she is a registered Shariah Advisor at the Securities Commission of Malaysia.

The Islamic capital Market framework of Maldives was designed by her. She has won numerous national and international awards for her service in Islamic finance industry including the Rehendhi award, the highest award conferred to women by the government of Maldives. She is also a role model and a mentor for females who aspire to build their careers in Islamic finance industry and is the Vice President of Women on Boards, an NGO advocating women representation on boards of companies.

She is an invited speaker in Islamic finance conferences and events held in different parts of the world. She is listed in 2017 as number seven among the 50 Influential Women in Business and Finance by ISFIRE which is an official publication of Islamic Bankers Association based in London and she is among the most influential 500 in Islamic Economy. She is a member of the Association of Shariah Advisors in Islamic Finance Malaysia (ASAS), Malaysia.

Non UCITS: Amanie Advisors Sdn Bhd (''Amanie'')

Amanie is a Shariah advisory, consultancy, training and research and development boutique for institutional and corporate clientele focusing on Islamic financial services. It is a registered Shariah advisory company for Islamic unit trust with the Securities Commission Malaysia (SC). Amanie was established with the aim of addressing the global needs for experts' and Shariah scholars' pro-active input. This will ultimately allow the players in the industry to manage and achieve their business and financial goals in accordance with the Shariah Principles. 

The roles of Shariah Adviser are:
1. Ensure that the Fund is managed and administered in accordance with Shariah Principles.
2. Provide expertise and guidance in all matters relating to Shariah Principles, including on the Fund's deed and prospectus, its structure and investment process, and other operational and administrative matters.
3. Consult with SC where there is any ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process.
4. Act with due care, skill and diligence in carrying out its duties and responsibilities.
5. Responsible for scrutinising the Fund's compliance report as provided by the compliance officer and investment transaction reports provided by, or duly approved by, the Trustee to ensure that the Fund's investments are in line with Shariah Principles.
6. Prepare a report to be included in the Fund's interim and annual reports certifying whether the Fund have been managed and administered in accordance with Shariah Principles for the period concerned.

With more than fourteen (14) years of experience in the advisory role of unit trusts, Amanie has to date managed more than 170 funds locally and globally. 

Datuk Dr. Mohd Daud Bakar 
Executive Chairman, Amanie Advisors Sdn Bhd 

Datuk Dr. Mohd Daud Bakar is the Founder and Executive Chairman of Amanie Group. One of its flagship companies namely Amanie Advisors, is operating in few cities globally. He currently serves as the Chairman of the Shariah Advisory Council at the Central Bank of Malaysia, the Securities Commission of Malaysia, the Labuan Financial Services Authority, the First Abu Dhabi Bank, and Permodalan Nasional Berhad. He is also a Shariah board member of various global financial institutions, including the National Bank of Oman (Oman), Amundi Asset Management (France), Bank of London and Middle East (London), BNP Paribas Najma (Bahrain), Natixis Bank (Dubai), Oasis Asset Management (South Africa), Noor Islamic Bank (Dubai), Morgan Stanley (Dubai), Sedco Capital (Saudi and Luxembourg), and Dow Jones Islamic Market Index (New York) amongst many others.

Prior to this, Datuk was the Deputy Vice-Chancellor at the International Islamic University Malaysia. He received his first degree in Shariah from University of Kuwait in 1988 and obtained his PhD from University of St. Andrews, United Kingdom in 1993. In 2002, he completed his external Bachelor of Jurisprudence at University of Malaya.

Suhaida Mahpot
Chief Executive Officer, Amanie Advisors Sdn Bhd

Suhaida Mahpot joined Amanie in 2008 and was amongst the pioneers in the company. She is a specialist in sukuk advisory and has been partnering with Datuk Dr Mohd Daud Bakar for the last 10 years to advise numerous sukuk locally and internationally. Apart from sukuk advisory, her primarily focus is on Shariah governance, structuring, enhancement and conversion exercises, establishment of Islamic financial entities as well as development of Islamic products. 

She holds a Bachelor of Economics (Islamic Economic and Finance) from International Islamic University Malaysia, and currently pursuing MSc in Islamic Finance with INCEIF. 

Ahmad Anas Fadzil 
Senior Consultant, Amanie Advisors Sdn Bhd
Ahmad Anas focuses on advising and delivering projects for various global Islamic financial services and Shariah compliant products and instruments. Prior to joining Amanie Advisors, he was attached with Sigur Ros for Turkey’s Project of Century: Turkish Republic North Cyprus Water Supply project as the Project Accountant based in Turkey. 

Ahmad Anas holds a Master of Islamic Finance (MSc) from The Global University of Islamic Finance (INCEIF) and is an accounting graduate from MARA University of Technology (UiTM) and holds a professional certification of Certified Islamic Public Accountant (CIPA) from Accounting and Auditing Organisation for Islamic Financial Institution (AAOIFI). 

Nurul Liyana Kasman
Consultant, Amanie Advisors Sdn Bhd
Nurul Liyana holds Master of Science in Finance from International Islamic University of Malaysia (IIUM) and graduated with a Bachelor of Business Administration (HONS) Islamic Banking from Universiti Teknologi Mara (UiTM). She was previously attached to Amanie Global Technology Sdn Bhd doing market research and evaluation of modules for Islamic core banking system. She then joined Amanie Nexus Sdn Bhd where she was involved in assisting investors and fund managers to identify and monitor Shariah compliance stock for investment. 

Muhammad Hafizuddin
Assistant Consultant, Amanie Advisors Sdn Bhd
Muhammad Hafizuddin graduated with a Bachelor of Business Administration (HONS) Islamic Banking from Universiti Teknologi Mara (UiTM). He was exposed to the financial and Shariah advisory services such as Shariah stock screening, monitoring and compliance review during his internship with Amanie.