Principal Asset Management (S) Pte. Ltd. (formerly known as CIMB-Principal Asset Management (S) Pte. Ltd.) ("Principal") has a compliance unit which is responsible to ensure that all business conducts and practices of the Company complies with securities laws, regulations and relevant guidelines which are gazetted and issued by the regulators.
The compliance unit reports directly to the board of directors and works closely with the senior management personnel on all compliance matters. The Unit also liaises with other departments within the Company to discharge the duties and functions effectively.
Other responsibilities include: Establishing, maintaining and administering the implementation of policies and procedures to detect and prevent breaches of securities laws, regulations and relevant guidelines; Preparing and tabling compliance reviews to the board of directors; Maintaining and reviewing compliance procedures for each area of the Company’s operation; Examining and investigating any irregularity in the Company’s operations; Assisting in training and educating staff members on compliance matters, industry and regulatory developments.
Principal has developed a set of "Rules of Business Conduct" which applies to all employees that set forth Principal's commitment to conduct its business lawfully with high credibility and integrity. The culture dictates that compliance is each employee's responsibility. Principal also has a Business Continuity Plan (BCP) in place that details the Company’s back-up plans for all key systems and proceeding of operations in the event of disaster.
Principal's risk management comprises dedicated risk management and compliance teams, and members of the investment committee.
The team works in tandem with the investment team to ensure the level of risk meets the expectations of clients' overall performance targets that are set against the appropriate benchmark. Portfolios are constructed and managed within pre-determined guidelines such as risk budgets that will be monitored regularly.
Amanie Advisors Sdn Bhd (''Amanie'')
Amanie is a Shariah advisory, consultancy, training and research and development boutique for institutional and corporate clientele focusing on Islamic financial services. It is a registered Shariah advisory company for Islamic unit trust with the Securities Commission Malaysia (SC). Amanie was established with the aim of addressing the global needs for experts' and Shariah scholars' pro-active input. This will ultimately allow the players in the industry to manage and achieve their business and financial goals in accordance with the Shariah Principles.
The roles of Shariah Adviser are:
1. Ensure that the Fund is managed and administered in accordance with Shariah Principles.
2. Provide expertise and guidance in all matters relating to Shariah Principles, including on the Fund's deed and prospectus, its structure and investment process, and other operational and administrative matters.
3. Consult with SC where there is any ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process.
4. Act with due care, skill and diligence in carrying out its duties and responsibilities.
5. Responsible for scrutinising the Fund's compliance report as provided by the compliance officer and investment transaction reports provided by, or duly approved by, the Trustee to ensure that the Fund's investments are in line with Shariah Principles.
6. Prepare a report to be included in the Fund's interim and annual reports certifying whether the Fund have been managed and administered in accordance with Shariah Principles for the period concerned.
With more than fourteen (14) years of experience in the advisory role of unit trusts, Amanie has to date managed more than 170 funds locally and globally.
Datuk Dr. Mohd Daud Bakar
Executive Chairman, Amanie Advisors Sdn Bhd
Datuk Dr. Mohd Daud Bakar is the Founder and Executive Chairman of Amanie Group. One of its flagship companies namely Amanie Advisors, is operating in few cities globally. He currently serves as the Chairman of the Shariah Advisory Council at the Central Bank of Malaysia, the Securities Commission of Malaysia, the Labuan Financial Services Authority, the First Abu Dhabi Bank, and Permodalan Nasional Berhad. He is also a Shariah board member of various global financial institutions, including the National Bank of Oman (Oman), Amundi Asset Management (France), Bank of London and Middle East (London), BNP Paribas Najma (Bahrain), Natixis Bank (Dubai), Oasis Asset Management (South Africa), Noor Islamic Bank (Dubai), Morgan Stanley (Dubai), Sedco Capital (Saudi and Luxembourg), and Dow Jones Islamic Market Index (New York) amongst many others.
Prior to this, Datuk was the Deputy Vice-Chancellor at the International Islamic University Malaysia. He received his first degree in Shariah from University of Kuwait in 1988 and obtained his PhD from University of St. Andrews, United Kingdom in 1993. In 2002, he completed his external Bachelor of Jurisprudence at University of Malaya.
Chief Executive Officer, Amanie Advisors Sdn Bhd
Suhaida Mahpot joined Amanie in 2008 and was amongst the pioneers in the company. She is a specialist in sukuk advisory and has been partnering with Datuk Dr Mohd Daud Bakar for the last 10 years to advise numerous sukuk locally and internationally. Apart from sukuk advisory, her primarily focus is on Shariah governance, structuring, enhancement and conversion exercises, establishment of Islamic financial entities as well as development of Islamic products.
She holds a Bachelor of Economics (Islamic Economic and Finance) from International Islamic University Malaysia, and currently pursuing MSc in Islamic Finance with INCEIF.
Ahmad Anas Fadzil
Senior Consultant, Amanie Advisors Sdn Bhd
Ahmad Anas focuses on advising and delivering projects for various global Islamic financial services and Shariah compliant products and instruments. Prior to joining Amanie Advisors, he was attached with Sigur Ros for Turkey’s Project of Century: Turkish Republic North Cyprus Water Supply project as the Project Accountant based in Turkey.
Ahmad Anas holds a Master of Islamic Finance (MSc) from The Global University of Islamic Finance (INCEIF) and is an accounting graduate from MARA University of Technology (UiTM) and holds a professional certification of Certified Islamic Public Accountant (CIPA) from Accounting and Auditing Organisation for Islamic Financial Institution (AAOIFI).
Nurul Liyana Kasman
Consultant, Amanie Advisors Sdn Bhd
Nurul Liyana holds Master of Science in Finance from International Islamic University of Malaysia (IIUM) and graduated with a Bachelor of Business Administration (HONS) Islamic Banking from Universiti Teknologi Mara (UiTM). She was previously attached to Amanie Global Technology Sdn Bhd doing market research and evaluation of modules for Islamic core banking system. She then joined Amanie Nexus Sdn Bhd where she was involved in assisting investors and fund managers to identify and monitor Shariah compliance stock for investment.
Assistant Consultant, Amanie Advisors Sdn Bhd
Muhammad Hafizuddin graduated with a Bachelor of Business Administration (HONS) Islamic Banking from Universiti Teknologi Mara (UiTM). He was exposed to the financial and Shariah advisory services such as Shariah stock screening, monitoring and compliance review during his internship with Amanie.