Shariah Adviser

Profile of the Shariah Adviser

IBFIM is the Shariah Adviser for 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 Shariah Balanced Fund and Kenanga Bon Islam Fund (“the Funds”). IBFIM will counsel on the mechanics of the operations of the Funds to ensure the operations of the Funds comply with Shariah requirements.

General Information of IBFIM

IBFIM is registered as a company limited by guarantee and not having share capital in Malaysia under the Companies Act, 1965 on 15 February 2007.

Experience in Advisory and Services

IBFIM is registered with the SC to act as a Shariah Adviser for Shariah-compliant collective investment schemes. IBFIM is also involved in Shariah-compliant private mandates as well as the Shariah Adviser for Islamic REITs and Islamic asset management houses.

Roles and Responsibilities of IBFIM as the Shariah-Adviser

As Shariah-Adviser, IBFIM will ensure the operations and investments of the Funds are in compliance with Shariah requirements. IBFIM will 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 the Shariah compliancy of the Funds rests solely with the Manager.

In line with the SC Guidelines, the roles of IBFIM as the Shariah Adviser are:

  1. Ensuring that the Shariah-compliant 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 SC 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 meetings called by the SC and/or any other relevant authority.

Profile of the Shariah Team
IBFIM’s Shariah team consists of the following personnel:

Dato’ Mohd Bakir Bin Haji Mansor
Chairman, IBFIM Shariah Committee

Dato’ Mohd Bakir is a Shariah Panel Committee of Amanah Ikhtiar Malaysia. Prior to joining IBFIM, Dato’ Mohd Bakir was the Shariah Coordinator at Bank Islam Malaysia Berhad (“BIMB”) and then the Secretary of the Shariah Advisory Council of BIMB, from 1984 to 2001. Previously, he served at the National Council for Islamic Religious Affairs in the Prime Minister’s Department for 10 years from 1971. He was also a Chief Assistant Director at the Islamic Research Centre for 4 years from 1981. He holds a Shahadah Ulya from Kolej Islam Malaya.

Dato’ Mohd Bakir was awarded “Anugerah Maulidur Rasul 1434H/2013M” by the government of Malaysia for his services in the Islamic finance industry.


Ahmad Zakirullah Bin Mohamed Shaarani
Managing Advisor (Shariah)

Ahmad Zakirullah is a member of the Shariah Committee of the United Overseas Bank Malaysia Berhad. He joined IBFIM in February 2008. He is responsible in providing Shariah input on the advisory, consultancy and research functions with regard to Islamic banking, takaful, Islamic capital market and Shariah-compliant funds. Prior to joining IBFIM, he served at University Sains Islam Malaysia and PTPL College.

He obtained his Diploma of Shariah Islamiyyah (Hons) from Higher Institute of Islamic and Arabic Language (MADIWA), Perak, Bachelor of Shariah Islamiyyah (Hons) Degree from Al-Azhar University, Egypt and Master’s Degree (Hons) of Islamic Revealed Knowledge and Heritage (Fiqh and Usual al-Fiqh) from the International Islamic University Malaysia. He is the designated person responsible for Shariah matters related to the Shariah-compliant funds management-related activities.


Mohd Asyraf Bin Sharunudin
Consultant (Shariah)

Mohd Asyraf is a member of IBFIM’s Shariah Business Advisory team. He is responsible in providing input on advisory and intelligence in regards to Islamic banking, takaful, Islamic capital market and Shariah-compliant unit trust funds. He was previously attached to Shariah Department of Bank Muamalat Malaysia Berhad. He also completed the Islamic Capital Market Graduate Training Scheme by the Securities Commission. Asyraf is a graduate of the International Islamic University Malaysia in Bachelor of Islamic Revealed Knowledge and Heritage (Fiqh and Usul al-Fiqh) (Hons) Degree and Master’s Degree (Hons) of Islamic Revealed Knowledge and Heritage (Fiqh and Usul al-Fiqh) from the same university. He is the designated person responsible for Shariah matters related to the Shariah-compliant funds management-related activities.


Muhammad Khairulnizam Bin Alias
Consultant (Shariah)

Muhammad Khairulnizam, a graduate of Bachelor of Islamic Revealed Knowledge and Heritage (Fiqh and Usul al-Fiqh) (Hons) Degree from International Islamic University Malaysia (IIUM). Prior to joining IBFIM, he has worked as a customer service and technical support.

Currently, he is responsible in providing Shariah input on the advisory, consultancy and research functions with regards to Islamic banking, takaful, Islamic capital market and Shariah-compliant unit trust funds, including but not limited to conduct surveillance on non-financial institutions’ activities. He is experienced in conversion of conventional products to Islamic as well as auditing and reviewing for many financial institutions. He is the designated person responsible for Shariah matters related to the Shariah-compliant funds management-related activities.

Kenanga Investors Berhad (353563-P). All right reserved.
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