Shariah Adviser

Kenanga Investment Bank Berhad (“KIBB”)

KIBB is the Shariah Adviser for the following:

  • Kenanga OnePRS Shariah Equity Fund
  • Kenanga Shariah OnePRS Conservative Fund
  • Kenanga Shariah OnePRS Growth Fund
  • Kenanga Shariah OnePRS Moderate Fund
  • Kenanga Islamic Fund
  • Kenanga Syariah Growth Fund
  • Kenanga Islamic Balanced Fund
  • Kenanga i-Enhanced Cash Fund
  • Kenanga Islamic Money Market Fund
  • Kenanga Shariah Growth Opportunities Fund
  • Kenanga Ekuiti Islam Fund
  • Kenanga Bon Islam Fund

KIBB shall advise on the mechanics of the operations of the Funds to ensure the operations of the Funds comply with Shariah requirements.

General Information of KIBB

KIBB is a licensed investment bank approved to carry on Islamic banking business. KIBB Shariah Committee was formed on 12 November 2012 after the approval from Bank Negara Malaysia.

Experience in Advisory and Services

KIBB Shariah Committee acts as the Shariah Adviser for Islamic collective investment schemes. KIBB is also involved in Islamic private mandates and is also the Shariah Adviser for sukuk.

Roles and Responsibilities of KIBB as the Shariah-Adviser

As Shariah Adviser, KIBB will ensure the operations and investments of the Funds are in compliance with Shariah requirements. KIBB shall review the Funds’ investments on a monthly basis to ensure adherence with Shariah requirements at all times. In the end, the final responsibility to ensure Shariah compliancy of the Funds rests solely with the Manager/ the PRS Provider.

In line with the SC Guidelines, the roles of KIIB as the Shariah Adviser are:
  1. Ensuring that the Islamic unit trust funds (“the funds”) are managed and administered in accordance with the Shariah principles;
  2. Providing expertise and guidance for the funds in all matters relating to Shariah principles, including on the funds’ Deed and Prospectus, its structure and investment process, and other operational and administrative matters;
  3. Consulting the SC who may consult the Shariah Advisory Council of the Securities Commission Malaysia (“SACSC”) where there is any ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process;
  4. Scrutinising the fund’s compliance report as provided by the compliance officer, transaction report provided by or duly approved by the trustee and any other report deemed necessary for the purpose of ensuring that the funds’ investments are in line with the Shariah principles;
  5. Preparing a report to be included in the funds’ interim and annual report certifying whether the funds have been managed and administered in accordance with the Shariah principles;
  6. Ensuring that the funds comply, with any guideline, ruling or decision issued by the SC, with regard to Shariah matters;
  7. Vetting and advising on the promotional materials of the funds; and
  8. Assisting and attending to any ad-hoc meeting called by the SC and/or any other relevant authority.

Profile of KIBB Shariah Committee

Dr. Ghazali Jaapar

Dr. Ghazali Jaapar is the Chairman of Shariah Committee of Kenanga Investment Bank Berhad. He is currently an Assistant Professor at the Department of Islamic Law, Ahmad Ibrahim Kulliyyah of Laws of International Islamic University Malaysia (IIUM). He holds a Bachelor of Shariah from University of Malaya, Master in Comparative Law (MCL) from International Islamic University Malaysia (IIUM) and PhD in Islamic Jurisprudence from University of Birmingham United Kingdom. He is also the Shariah Committee of FWD Takaful Malaysia.


Dr. Mohammad Firdaus Mohammad Hatta

He is a Senior Lecturer of Arshad Ayub Graduate Business School, Universiti Teknologi Mara (UiTM) Shah Alam, Selangor. He received his first degree in Shariah Islamiyyah from University of Medina, Saudi Arabia. He then successfully completed his Masters in Fiqh and Usul Fiqh from the International Islamic University of Malaysia (IIUM) and obtained his PhD in Islamic Banking from University of Wales, Lampeter, United Kingdom. He is also received a Diploma in Islamic Finance from Markfield Institute of Higher Education, United Kingdom. He is also the Shariah Committee of Great Eastern Takaful Berhad.

BIMB Securities Sdn. Bhd. (“BIMB Securities”)

BIMB Securities is the Shariah Adviser for the following:
  1. Kenanga Amanah Saham Wanita (formerly known as Libra Amanah Saham Wanita)
  2. Kenanga SyariahEXTRA Fund (formerly known as Libra SyariahEXTRA Fund)
  3. Kenanga ASnitaBOND Fund (formerly known as Libra ASnitaBOND Fund)
  4. Kenanga Dana Safa (formerly known as Libra Dana Safa)
  5. Kenanga Shariah Liquidity Fund (formerly known as Libra Shariah Liquidity Fund)
  6. Kenanga Shariah Liquidity Fund Series 3 (formerly known as Libra Shariah Liquidity Fund Series 3)

BIMB Securities will provide Shariah advisory services on the mechanism of the operations of the Funds to ensure the operations of the Funds comply with Shariah requirements as stipulated by the SC.


General Information of BIMB Securities Sdn Bhd

BIMB Securities is a stockbroking subsidiary of BIMB Holdings Bhd. It was incorporated on 21 February 1994. The corporate mission of BIMB Securities is to be an active participant in a modern, innovative and dynamic Islamic capital market in Malaysia, catering for the needs of all investors, Muslims or non-Muslims, looking for Shariah-compliant investment products and services.

Experience in Advisory and Services

BIMB Securities is registered with the SC to act as a Shariah Adviser for Islamic products and services regulated by the SC, which include Islamic collective investment schemes. BIMB Securities is a corporate Shariah Adviser to 84 Islamic funds including one (1) Islamic real estate investment trust (REIT).

Roles and Responsibilities of BIMB Securities as the Shariah Adviser

As Shariah Adviser, BIMB Securities will ensure that the operation and processes of the Funds are in compliance with Shariah requirements. BIMB Securities shall review the Funds’ investments on a monthly basis to ensure adherence with Shariah requirements at all times Including the reviewing of the interim and annual reports of the Funds. Notwithstanding the role played by the Shariah Adviser, the ultimate responsibility for ensuring Shariah compliance of the Funds in all aspects of operation and processes rests solely with the Fund Manager.

In line with the SC guidelines, the roles of BIMB Securities as the Shariah Adviser are:
  1. To advise on the Shariah aspects of the Funds and Funds’ operation and processes such that they are in accordance with Shariah, and specifically the resolutions issued by the SACSC;
  2. To provide Shariah expertise and guidance on all matters related to the Funds, particularly on the Funds’ Deed and Prospectus, structure, investments and related operational matters;
  3. To ensure that the Funds are managed and operated in accordance with Shariah as determined by the relevant SC regulations and standards, including resolutions issued by the SACSC;
  4. To review the Funds’ compliance reports as provided by the Manager’s compliance officer and investment transaction reports provided or duly approved by the Trustee to ensure that the Funds’ investments are in line with Shariah;
  5. To issue a report for inclusion in the interim and annual reports of the Funds stating the Shariah Adviser’s opinion on the Funds’ compliance with Shariah in its investment, operation and processes for the financial period concerned;
  6. To consult the SC where there is ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process; and
  7. To meet with the Manager on a quarterly basis, when urgently required for review of the Funds’ operation and processes.


Profile of BIMB Securities Shariah Committee

Ir. Dr. Muhamad Fuad bin Abdullah

He is the designated person in-charge of all Shariah matters in BIMB Securities Sdn Bhd (BIMBSEC) is also appointed to the Shariah Advisory Committee of BIMBSEC effective 1st June 2011. He graduated with a Bachelor of Science Degree in Electrical Engineering in 1977 and a Master of Philosophy Degree in Electrical Engineering in 1982, both from the University of Southampton, England. He also obtained a Bachelor of Arts (Jayyid) Degree in Shariah from the University of Jordan in 1994 and a Doctor of Philosophy in Muslim Civilization from the University of Aberdeen, Scotland in 1996. Currently, he serves as the Chairman of the Shariah Committee of MIDF Group of Companies. He is a registered Shariah Adviser with the Securities Commission Malaysia (SC). He sits on the boards of Gagasan Nadi Cergas Berhad, Mesiniaga Berhad, PNB Commercial Sdn Bhd, Universiti Tun Abd Razak Sdn Bhd, Universiti Sains Islam Malaysia (USIM) and its subsidiary USIM Tijarah Holdings Sdn Bhd. Dr. Muhamad Fuad is a recipient of the National Book Award 2015 for his book published by IKIM entitled "The influence of Islam Upon Classical Arabic Scientific Writings: An examination of the Extent of Their Reference to Quran, Hadith and Related Texts”.

Kenanga Investors Berhad 199501024358 (353563-P). All rights reserved.
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