General information of the Shariah Adviser
ZICO Shariah Advisory Services Sdn. Bhd (ZICO Shariah) is a member of ZICO Holdings and is registered with the Securities Commission Malaysia (SC) to advise on sukuk issuances, Islamic funds as well as other Islamic capital market products and instruments. It is also approved by the Central Bank of Malaysia to provide Shariah advice, Shariah review and Shariah audit services to Islamic financial institutions. ZICO Shariah has more than 12 years of Shariah advisory experience. As at 31 December 2021, there are 90 funds which ZICO Shariah acts as Shariah Adviser.
Roles and responsibilities of the Shariah Adviser
As Shariah Adviser, ZICO Shariah will ensure the operations and investments of the Funds are in compliance with Shariah requirements. ZICO Shariah will review the Fund’s investments on a monthly basis to ensure adherence with Shariah requirements at all times.
In line with the SC Guidelines, the roles of ZICO Shariah as the Shariah Adviser are:
Dr. Aida Othman
Dr. Aida Othman is a Partner at Zaid Ibrahim & Co. (a member of ZICO Law). She is also the director of ZICO Shariah. Dr. Aida specializes in Islamic banking and finance, Islamic capital market instruments and Takaful products and operations. Her practice areas include Shariah Advisory, Islamic Banking & Finance, Shariah Compliance & Governance, Islamic Wealth Management and Corporate Commercial matters.
She also advises on Shariah compliance and governance, including on the legal and regulatory framework for Islamic finance. In particular, she has advised on the structure and documentation for Islamic banking products, the legal and regulatory framework for Islamic financial services, structuring and Shariah compliance issues for Sukuk issuance, private equity funds and unit trust funds, Shariah review and Shariah audit of Islamic financial institutions, Takaful products and operations and Islamic wealth planning and management.
Dr Aida is an Advocate & Solicitor of the High Court of Malaya. She is also a panel arbitrator for banking/financial instruments at the Asian International Arbitration Centre (AIAC), a member of the Society of Trust and Estate Practitioners (STEP), United Kingdom, a former member of the Technical Working Group on Ethics of the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI), Bahrain, a member of the Shariah Committee, HSBC Amanah Malaysia Berhad, a member of the Shariah Committee, Permodalan Nasional Berhad, a member of the Shariah Committee, AmMetlife Takaful Berhad, a member of the Islamic Finance Committee, Bar Council, Malaysia, a member of the Association of Shariah Advisors in Islamic Finance (ASAS), Malaysia and a member of the Majlis Agama Islam & Adat Melayu Negeri Perak.
Dr. Aida holds a Doctor of Philosophy in Comparative Law & Middle Eastern Studies from Harvard University, United States of America and Postdoctoral Fellowship at the Faculty of Arts & Sciences, Harvard University, United States of America. She also obtained Masters of Law from Cambridge University, United Kingdom, Bachelor of Laws (First Class Honours) and Bachelor of Islamic Law (Syhariah) (First Class Honours) from International Islamic University, Malaysia.
Dr. Aida sits on the Shariah Advisory Board of HSBC Amanah Malaysia Berhad.
ZICO Shariah Advisory Services Sdn Bhd 200701011429 (769433-D)
Registered Office and Business Address
Level 13A, Menara Milenium,
Pusat Bandar Damansara,
50490 Kuala Lumpur.
Tel : 03-9212 0976
Fax : 03-9212 0974
Email : Zhemail@example.com