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 9 years of Shariah advisory experience. As at 31 December 2020, there are 80 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. She is also a Director with ZICO Shariah. Dr. Aida advises on Islamic banking and finance transactions and documentation; in particular, she has advised on Shariah compliance issues, structured Islamic products, Islamic financing documentation, sukuk issuance, takaful, regulatory framework for Islamic financial services, Islamic wealth management, Islamic private equity and unit trust funds. Dr. Aida Othman is the designated person responsible for Shariah matters relating to the Funds.
Dr. Aida holds a Doctor of Philosophy in Comparative Law & Middle Eastern Studies from Harvard University, United States of America. She also obtained her Masters of Law from Cambridge University, United Kingdom and Bachelor of Laws (First Class Honours) and Bachelor of Islamic Law (Syariah) (First Class Honours) from International Islamic University, Malaysia.
Dr. Aida sits on the Shariah Advisory Board of HSBC Amanah Malaysia Berhad.