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.

Shariah Adviser

UCITS: Amanie Advisors Shariah Board

Dr. Mohamed Ali Elgari    
Chairman 

Dr. Mohamed Ali Elgari is a Professor of Islamic Economics and the former Director of the Centre for Research in Islamic Economics at King Abdul Aziz University in Saudi Arabia.

Dr Elgari is the recipient of the Islamic Development Bank Prize in Islamic Banking and Finance and holds the KLIFF Islamic Finance Award for Most Outstanding Contribution to Islamic Finance (Individual). 

He is a member on the editorial board of several academic publications in the field of Islamic Finance and Jurisprudence, among them Journal of the Jurisprudence Academy (of the IWL), Journal of Islamic Economic Studies (IDB), Journal of Islamic Economic (IAIE, London), and the advisory board of Harvard Series in Islamic Law, Harvard Law School.

Dr. Elgari is also an advisor to numerous Islamic financial institutions throughout the world and is notably on the Shariah board of the Dow Jones Islamic index as well as a member of the Islamic Fiqh Academy and the Islamic Accounting & Auditing Organisation for Islamic Financial Institution (AAIOFI). 

Dr. Elgari holds a Ph.D. Economics from University of California, USA.

Dr. Mohd Daud Bakar  
Executive Member  

Dr. Mohd Daud Bakar is the Chairman of the Amanie Group and was previously the Deputy Vice-Chancellor at the International Islamic University Malaysia.

He is currently the Chairman of the Shariah Advisory Council at the Central Bank of Malaysia, the Securities Commission of Malaysia, Labuan Financial Services Authority and the First Abu Dhabi Bank.

Dr. Mohd Daud is a Shariah board member of the Dow Jones Islamic Market Index (New York), Muzn Islamic Banking (The National Bank of Oman), BNP Paribas (Bahrain), Bank of London and Middle East (London), amongst other financial institutions.

In the corporate world, he sits as Board Director at Sime Darby Berhad and a member of the PNB Investment Committee.

He is also the third Chair Professor in Islamic Banking and Finance of Yayasan Tun Ismail Mohamed Ali Berdaftar (YTI) PNB at Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia (USIM).

Ph.D. from University of St. Andrews, Scotland, Bachelor of Shariah (Fiqh wa Usuluhu), from Kuwait University, Kuwait and Bachelor of Jurisprudence (external) from University of Malaya, Malaysia. 

Dr. Muhammad Amin Ali Qatan    
Board Member

Dr. Qattan is a highly regarded Shariah Scholar and is currently the Director of Islamic Economics Unit, Centre of Excellence in Management at Kuwait University. 

Not only is he an accredited trainer in Islamic Economics, he is also a lecturer as well as a prolific author of texts and articles on Islamic economics and finance. 

He also serves as the Shariah advisor to many reputable institutions such as Ratings Intelligence, Standard & Poors Shariah Indices, Al Fajer Retakaful amongst others.

He has a Ph.D. in Islamic Banking from Birmingham University, UK and a B.A. Islamic Economics from Al-Imam University, Riyadh, Saudi Arabia.

Dr. Osama Al Dereai  
Board Member

Dr Osama Al Dereai is a renowned Shariah scholar and has extensive experience in teaching, consulting and research in the field of Islamic finance. 

Dr Al Dereai is a Shariah board member of various financial institutions which include the First Leasing Company, Barwa Bank, First Investment Company and Ghanim Al Saad Group of Companies amongst others.

He has a Ph.D. in Islamic Transactions from University of Malaya (Malaysia), MA in  International Islamic University Malaysia and B.Sc. In Hadith Al Sharif from International Islamic University of Medina.

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.