AHG in partnership with Amanie Advisors is uniquely qualified to structure, endorse and in many cases offer marketing assistance to qualified institutional investors for financial intermediaries with an interest in Islamic Finance. The group has a deep understanding and vast experience in designing Shariah-compliant financial products including sukuk, investment funds, structured products, and liquidity instruments.
AHG in partnership Amanie applies a time-efficient and cost-effective approach in reviewing and endorsing a multitude of Islamic financial products, services and product documentation in line with internationally accepted Shariah standards. AHG and Amanie’s involvement spans from the inception stage to the post-implementation stage.
Product Structuring and Endorsement
Product structuring and endorsement is a good example of AHG and Amanie’s end to end involvement. This service spectrum sees AHG and Amanie working closely with its client to design and conceptualize a specific financial product which is relevant to the client’s needs without compromising on Shariah compliance.
A diligent review of product documentation follows next to ensure that the concept and design are manifested correctly in the documentation for proper implementation.
The Shariah endorsement will be issued once all aspects of Shariah compliance are adhered to.
This exercise is offered to client’s existing product concept or structure which requires further enhancement or additional features in order to achieve a specific objective. Modifications to concept and structure, review of revised product documentation will be carried out and issuance of Shariah endorsement, if and where relevant, will be made.
This exercise involves the conversion of a conventional product into a Shariah compliant product while maintaining equivalent economic benefits, where possible.
Supervisory and Monitoring Service
The client normally engages AHG and Amanie supervisory and monitoring service to ensure product implementation or entity operations are continuously Shariah compliant. This will help to boost investors’ confidence as well as to comply with regulatory requirements.
The service covers provision of advice and opinions pertaining to Shariah issues in the day-to-day operational aspects of the product or entity. AHG and Amanie’s panel of Shariah scholars lends their credibility to any Islamic financial entity or any Islamic financial product
Annual Shariah Review
In addition to the continuous Shariah supervisory and monitoring services, AHG and Amanie undertakes annual Shariah review exercise for the purpose of issuing annual certification on Shariah compliance either at product level or entity level, in line with industry best practices. This annual Shariah certification, which will be issued by the AHG and Amanie International Shariah Supervisory Board, where relevant, is an attestation to the client’s commitment to assure investors and stakeholders of the client’s due diligence on Shariah compliance.
Shariah Secretariat Support Service
The Shariah secretariat support and service is relevant and useful to entities which have their own Shariah Boards or entities which engage Amanie’s Shariah Supervisory Board but requires a team to carry out pre-endorsement services of reviewing, vetting, making recommendations to facilitate the Shariah endorsement process.
SHARIAH SECRETARIAT ACTIVITIES
- Formation of Shariah Advisory Committee / Shariah Supervisory Board
AHG and Amanie will assist Client for the establishment of Shariah Advisory
Committee / Shariah Supervisory Board for their institutions
- Coordinate, organize and manage all matters in relation to Shariah Advisory
Committee / Shariah Supervisory Board
AHG and Amanie will act as a liaison officer between Client and the Shariah Advisory Committee / Shariah Supervisory Board to manage the Shariah Advisory Committee / Shariah Supervisory Board’s related matter(s) and the Client’s Shariah Advisory Committee / Shariah Supervisory Board meeting(s)
- Secretarial services / functions
AHG and Amanie will act as a secretary to the Client’s Shariah Advisory Committee / Shariah Supervisory Board meeting(s)
- Shariah endorsement process
AHG and Amanie will assist Client to review their product structure and legal documentation for Shariah compliance prior to submission to the Shariah Advisory Committee / Shariah Supervisory Board
Establishment of/Conversion into an Islamic Entity
AHG and Amanie advises institutions which are interested in setting up an Islamic financial institution or Islamic window from the Shariah standpoint. Shariah secretariat services and Shariah Supervisory Board services are offered to facilitate a smooth transition process.
The AHG and Amanie stock screening service is distinguished from the rest as it uses an open architecture concept, which is not limited to a specific screening methodology. The AHG and Amanie Screening Solution system is now able to deliver 5 different methodologies which are of international practices and all of which have been approved by esteemed Amanie Shariah Supervisory Board. Apart from stocks, the screening services also cover Sukuk, properties, venture cap and private equity funds. This value added process which identifies active small, medium and large capital companies, Sukuk, REITs and private equity funds that are Shariah compliant. Methodologies used are based o qualitative and quantitative parameters acceptable to International Shariah standards and practices.