Shariah Adviser

Profile of the Shariah Adviser

Kenanga Investment Bank Berhad (“KIBB”) is the Shariah Adviser for the Non-Core Fund of OnePRS, 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 and Kenanga Bon Islam Fund (“the Funds”). 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

Two members of KIBB Shariah Committee are registered with the Securities Commission Malaysia (“SC”) to act as Shariah Adviser for Islamic collective investment schemes. KIBB is also involved in Islamic private mandates as well as 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 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. Kamaruzaman Noordin

He is the Chairman of Shariah Committee of Kenanga Investment Bank Berhad. He is currently a Senior Lecturer of Department of Shariah and Management, Academy of Islamic Studies of University Malaya. He holds a Bachelor of Shariah and Master of Business Administration from University of Malaya before obtaining his PhD in Islamic Studies from University of Wales, United Kingdom. He is also the Shariah Committee of Employees Provident Fund Malaysia (EPF) and Swiss Re Retakaful Malaysia. He is a registered Shariah Adviser with the Securities Commission of Malaysia. He is the designated person responsible for Shariah matters related to the Funds.


Dr. Ahmad Sufian Che Abdullah

He is the Deputy Chairman of Shariah Committee of Kenanga Investment Bank Berhad. He is currently a Senior Lecturer at the Department of Shariah and Management, Academy of Islamic Studies of University Malaya. He holds a Bachelor of Shariah and Master of Shariah (Islamic Finance) from University of Malaya before obtaining his PhD in Islamic Economic and Banking from University of Yarmouk, Jordan. He is also the Shariah Committee of Syarikat Takaful Malaysia Berhad. He is a registered Shariah Adviser with the Securities Commission of Malaysia. He is the designated person responsible for Shariah matters related to the Funds.


Dr. Mohd Fuad Md. Sawari

He is currently an Assistant Professor at the Department of Fiqh and Usul al-Fiqh, Kuliyyah of Islamic Revealed Knowledge and Human Sciences of International Islamic University Malaysia. He holds a Bachelor of Shariah from University of Malaya, Master of Arts (Fiqh and Usul al-Fiqh) from the University of Jordan and PhD in Fiqh and Usul al-Fiqh from International Islamic University Malaysia. He is also the Shariah Committee of Bank Simpanan Nasional (BSN) and Prudential BSN Takaful. He is the designated person responsible for Shariah matters related to the Funds.


Dr. Muhammad Arzim Naim

He is a chartered and practising accountant of Malaysian Institute of Accountants (MIA) and Malaysian Institute of Certified Public Accountants (MICPA), member of the Association of Chartered Certified Accountants (ACCA), a member of the Chartered Institute of Islamic Finance Professional (CIIF) and ASEAN Chartered Professional Accountant (ACPA).He has spent most of his professional career in auditing and assurances before joining the academia. He is currently a lecturer at Universiti Kebangsaan Malaysia (UKM). He holds a PhD in Islamic Finance from International Centre for Education in Islamic Finance (INCEIF). He is the designated person responsible for Shariah matters related to the Funds.

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