Head of Shariah-Compliant Products

About Kifiya:

Kifiya is an AI-powered ecosystem technology company specializing in intelligent data-driven decisioning, financial services, digital agriculture, and smart mobility infrastructure solutions. For over a decade, we have built robust technological infrastructures and implemented transformative initiatives that address market failures.

We empower MSMEs, smallholder farmers, and low- to middle-income consumers by providing access to financial services and markets. Kifiya is scaling its technology infrastructure to create a more inclusive and sustainable future in Africa.

Over the past 14 years, Kifiya has grown from a startup into a leader in digital financial services and AI-driven technology, showcasing the power of data and innovation to drive meaningful change.

Job Summary:

We are seeking an experienced and principled Head of Shariah-Compliant Products to lead the development, launch, and lifecycle management of our Islamic finance product portfolio. This includes products such as Murabaha, Ijarah, Wakala, and Takaful-linked offerings, tailored to the needs of ethically conscious customers and Shariah-sensitive markets.

The ideal candidate will have a strong grounding in Islamic finance principles and regulatory standards, demonstrated success in launching Shariah-compliant products, and the ability to manage internal product teams while collaborating with IFB (Interest-Free Banking) partners, Shariah scholars, and regulatory councils.

Key Responsibilities:

A. Product Strategy & Development

• Define the strategic roadmap for Shariah-compliant products aligned with customer needs and AAOIFI standards.
• Lead the end-to-end product development process for offerings like Murabaha, Wakala, Mudarabah, and Ijarah.
• Ensure all products are aligned with Shariah advisory board guidance and Islamic commercial jurisprudence.
• Financial & Business-Case Analysis : Perform ROI projections, unit-economics analyses, and present detailed business cases (including budgets and forecasts) to the Executive Management.
• Competitive Benchmarking– Continuously benchmark against regional and global Shariah-compliant offerings to identify differentiators and opportunity gaps.

B. Shariah Compliance & Certification

• Liaise directly with internal and external Shariah scholars and councils for fatwa approvals and compliance oversight.
• Develop and maintain detailed product documentation for Shariah audits and regulatory reviews.
• Ensure products adhere to AAOIFI, IFSB, and local regulatory standards for Islamic financial services.
• Timely Fatwa Management – Ensure timely issuance of fatwas and manage any subsequent product updates if Shariah board guidance changes.
• Regulatory Liaison – Maintain regular engagement with local to stay abreast of evolving guidelines.
• Internal Cross-Functional Alignment – Collaborate closely with Finance, Risk, Compliance, Marketing, and Sales teams to align on go-to-market plans, pricing, and risk parameters.

C. Stakeholder Engagement & Partnerships

• Build strong working relationships with Islamic banks, microfinance institutions, Takaful providers, and digital Shariah-compliant platforms.[MB1]
• Collaborate with legal, compliance, and operations teams to ensure smooth onboarding and servicing flows.
• Represent the company in industry forums on Islamic finance, including regulatory consultations and product standard-setting initiatives.

D. Team & Portfolio Oversight

• Lead a team of product managers and specialists focused on Islamic finance offerings.
• Guide the team in maintaining Shariah integrity while building commercially viable products.
• Monitor product performance and customer feedback to drive continuous improvement.
• Oversee annual budgeting and forecasting for the Shariah portfolio; track actuals vs. plan, analyze variances, and implement corrective actions as needed.
• Set, monitor, and report on BU KPIs (e.g., product adoption rates, revenue vs. target, customer satisfaction scores).

E. Customer-Centric Product Innovation

• Conduct market research and user studies in Muslim-majority and Muslim-minority regions to tailor financial solutions.
• Innovate digital delivery models for Shariah-compliant products, including embedded finance and mobile-first experiences.
• Advocate for transparency, ethical financing, and customer empowerment in product narratives and user experiences.
• Partner with product teams to co-design Shariah-compliant product flows that maximize adoption and user clarity.
• Define and run pilot programs for new Islamic finance features & products, gather customer feedback, and iterate rapidly.

Education:

• Bachelor’s or master’s degree in Islamic finance, Business, Economics, or related field
• Certification in Shariah Compliance or Islamic Banking (e.g., CIFE, AAOIFI, CISI Islamic Finance Certification) is mandatory

Years of Experience:

• Minimum 7–10 years in financial services, with at least 5 years in Islamic finance product development or leadership
• Experience engaging with Shariah councils and IFB institutions is essential
• Demonstrated track record of launching and managing successful Shariah-compliant products

Competencies & Skills:

• Deep knowledge of Islamic finance structures, especially in trade-based and equity-based financing models
• Strong track record interpreting P&L statements, managing budgets, and forecasting product revenues/costs.
• Proven ability to build, coach, and scale high-performing product teams; foster a culture of accountability and innovation.
• Capacity to translate high-level business strategy into executable product roadmaps and cross-unit operational plans.
• Excellent at navigating Shariah board deliberations, regulatory reviews, and negotiating with IFB partners.
• Exceptional written and verbal communication to bridge Shariah requirements, technical specifications, and commercial objectives.
• Proven ability to interpret and apply Shariah principles to real-world financial product development
• Excellent stakeholder management skills — including working with Shariah boards, regulators, and Islamic banking partners
• Strategic mindset with operational understanding of product development, compliance, and user experience
• Strong communication and documentation skills to bridge Shariah requirements and business language
• Experience with digital financial services, mobile wallets, and embedded Islamic finance is a strong advantage