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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 is registered with the SC to act as the Shariah Adviser for Islamic collective investment schemes. KIBB Shariah Committee 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 and reviewing the fund’s compliance report as provided by the compliance officer, or any investment 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’ quarterly, semi-annual and annual report certifying whether the funds have been managed and administered in accordance with the Shariah principles;
  6. Ensuring that the operation and investment activities of the islamic fund management company is in line with Shariah and preparing a report stating Shariah Adviser's opinion on compliance by the islamic fund management company;
  7. Ensuring that the funds comply, with any guideline, ruling or decision issued by the SC, with regard to Shariah matters;
  8. Vetting and advising on the promotional materials of the funds; and
  9. 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 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 Chairman of Shariah Committee of EXIM Bank and Shariah Committee of Sunlife Takaful Berhad.

Dr. Mohammad Firdaus Mohammad Hatta is the Shariah Committee of Kenanga Investment Bank Berhad. 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.

Dr. Fadillah Mansor is the Shariah Committee of Kenanga Investment Bank Berhad. She is currently an Associate Professor, Department of Shariah and Management, Academy of Islamic Studies, University of Malaya. She holds a Bachelor of Shariah (Honours) specialised in economics and a Master of Business Administration (MBA) in Finance from University of Malaya, Kuala Lumpur. She obtained her PhD in Islamic Finance from the La Trobe University, Australia. Her areas of research include Islamic Banking and Finance, Islamic investment and capital market, takaful and also Islamic management. She is also the panel assessor of the Malaysian Qualifications Agency (MQA) that responsible for programme accreditation in the areas as mentioned above.
BIMB Securities Sdn. Bhd.
(“BIMB Securities”)

BIMB Securities is the Shariah Adviser for the following:

- Kenanga Amanah Saham Wanita
- Kenanga SyariahEXTRA Fund
- Kenanga ASnitaBOND Fund
- Kenanga Dana Safa
- Kenanga Shariah Liquidity Fund
- Kenanga 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 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 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 in all matters related to the Funds, particularly on the documentation such as Fund's 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 prepare a report to be included in the semi-annual and annual reports of the Funds stating the Shariah Adviser's opinion whether the Funds have been managed in compliance with Shariah requirements 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, or when urgently required for review of the Funds’ operation and processes;
  8. To apply Ijtihad (intellectual reasoning) to ensure all aspects relating to the Fund are in compliance with Shariah, in the absence of any rulings, principles and concepts endorsed by the SACSC.
Profile of BIMB Securities Shariah Committee

Encik Muhammad Shahier bin Sa’min (En. Shahier) joined BIMB Securities as the Head of Shariah in October 2024. He is responsible for all Shariah-related matters at BIMB Securities and serves as the Secretary of the Shariah Advisory Committee and has been appointed as the Designated Shariah Person. He holds a Bachelor of Shariah, majoring in Economics and Islamic Banking from Yarmouk University, Jordan since 2014, and obtained a professional certificate, Associate Qualification in Islamic Finance (AQIF), from the Islamic Banking & Finance Institute Malaysia (IBFIM) in 2019.

Prior to this, En. Shahier was the Head of Shariah at Yayasan Pembangunan Ekonomi Islam Malaysia (YAPEIM) from June 2021 to October 2024, where he oversaw Shariah governance and compliance across the YAPEIM group. He also served as the Head of Business Development, Business Advisory at IBFIM from June 2019 to June 2021, providing Shariah advisory services and delivering Shariah training. Before that, he was the Senior Executive / Unit Lead of Shariah Compliance, Risk Management Division at Malaysia Debt Ventures Berhad (MDV) from January 2018 to June 2019, and a Consultant in Shariah Business Advisory at IBFIM from January 2015 to December 2017.

Currently, En. Shahier also actively serves as a facilitator for IBFIM’s professional certification training programs and a speaker for Institut Koperasi Malaysia (IKM) awareness programs.

Islamic Banking and Finance Institute Malaysia
(“IBFIM”)

IBFIM is the Shariah Adviser for Kenanga Waqf Al-Ihsan Fund.

General Information of IBFIM

IBFIM is a registered Shariah Adviser with the SC to act as a Shariah Adviser for Shariah-compliant products and services under Islamic Capital Markets (such as collective investment schemes, private mandates, Islamic REITs, Islamic ETFs, private equity funds, etc.) IBFIM is also a life-long learning institution which provides technical certifications in Islamic finance disciplines.

Experience in Advisory and Services

IBFIM 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.

IBFIM also has been providing a wide range of Shariah advisory and consultancy services for general Islamic financial services industry since 2001.

Roles and Responsibilities of IBFIM as the Shariah Adviser

As the Shariah Adviser, the role of IBFIM is to advise the Manager on Shariah matters in ensuring that the operations and investments of the Fund are managed in compliance with Shariah requirements.The Shariah Adviser reviews the Fund's investments on a regular basis to ensure compliance with Shariah requirements at all times and meets with the Manager on quarterly basis to review and advise on the Fund's compliance with Shariah requirements. Ultimate responsibility for ensuring Shariah compliance of the Fund with Shariah requirements in all relevant aspects rests solely with the Manager.

In line with SC's the Guidelines on Islamic Capital Market Products and Services, the roles and responsibilities of the Shariah Adviser are:

  1. Providing Shariah expertise and advice on Shariah matters in relation to the Islamic Capital Market products or the Islamic Capital Market service including matters relating to documentation, structure, feature, investment instruments and ensure that all aspects of the products or activities are in accordance with Shariah requirements as set out in the relevant securities laws and guidelines issued by the SC. Documentation includes, where applicable, the deed, prospectus, offering documents and circular to unit holders relating to acquisition or disposal of assets;
  2. Ensuring that the applicable Shariah rulings, principles and concepts endorsed by the SAC are complied with;
  3. Applying Ijtihad (intellectual reasoning) to ensure all aspects relating to the Islamic Capital Market products or the Islamic Capital Market service are in compliance with Shariah, in the absence of any ruling, principles and concepts endorsed by the SAC;
  4. Reviewing reports of the compliance officer or any investment transaction report to ensure that the Islamic fund management business and investment activities are Shariah-compliant;
  5. Preparing report stating its opinion whether the Islamic fund management business has been managed or administered in accordance with Shariah;
  6. Vetting and/or advising on the promotional materials of the Fund;
  7. Attending formal meetings arranged by the Client to discuss any arising Shariah matters;
  8. Liaising with the SC and/or any other relevant authority (includes attending to any ad-hoc meeting called by them) where there is any ambiguity or uncertainty relating to any Shariah matters.
Profile of IBFIM Shariah Committee

Noor Zuraida is currently the Director of Shariah Consultancy at IBFIM. She brings 17 years of experience in Islamic finance, with deep expertise in Shariah governance, compliance management, and regulatory engagement. Her career spans key roles in Shariah-compliant banking operations, policy implementation, and risk management across leading Islamic financial institutions.

Noor Zuraida began her professional journey as an Advocate & Solicitor, specialising in Islamic banking and corporate law, before transitioning into the Islamic finance industry. She later joined Prudential Fund Management Berhad, where she contributed to Shariah investment-related functions and supported the organisation’s development of Islamic fund management. She subsequently went on to serve HSBC Amanah Malaysia Berhad for 12 years, specialising in Shariah review and regulatory compliance. During her tenure, she played a pivotal role in strengthening the bank’s Shariah governance framework, ensuring adherence to Shariah requirements and enhancing its overall Shariah control environment.

Noor Zuraida then moved to Al Rajhi Investment & Banking Corporation Malaysia Berhad as Vice President, Shariah, where she oversaw Shariah Committee affairs, governance processes, and Islamic social finance initiatives. Prior to joining IBFIM, she served as an Independent Shariah Review Consultant at Masryef Advisory Sdn Bhd, contributing to Shariah governance and compliance engagements.

Noor Zuraida holds a Master of Laws (LL.M.) from the National University of Malaysia, a Bachelor of Laws (LL.B. Hons.) from the International Islamic University Malaysia and is a Certified Professional Shariah Auditor (CPSA) accredited by IBFIM.

Irma Namira is currently a Manager of Shariah Consultancy at IBFIM. She brings with her approximately 13 years of experience in Islamic finance and Shariah advisory. In her current role, she is responsible to lead and contributes to advisory, consultancy and research functions across multiple segments including Islamic banking, takaful, Islamic capital market, Islamic REITs and Islamic unit trust funds.

Irma Namira began her career as a Shariah executive in RHB Islamic Bank Berhad. Demonstrating specialised expertise in Shariah advisory, governance and management, she advanced to the role of Section Head, Shariah Secretariat before joining IBFIM. She is experienced in the Shariah application in Islamic products and services which includes retail banking, non-retail banking and Islamic capital market.

Irma Namira holds a Bachelor of Syariah and Laws (Hons) from Universiti Sains Islam Malaysia and a Certificate in Islamic Law of Banking & Finance from the International Islamic University Malaysia. She is a member of Association of Shariah Advisors in Islamic Finance (ASAS) and a registered Shariah adviser with the Securities Commission of Malaysia for IBFIM in relation to the Islamic capital market-related product and services. She also holds professional certifications as a Certified Professional Shariah Auditor (CPSA) and Associate Qualification in Islamic Finance (AQIF) accredited by IBFIM.