In order to ensure compliance with the Islamic REIT Guidelines, the properties under Al-Salām REIT’s portfolio of investments shall adhere to the following:
The tenants of the properties of Al-Salām REIT (including the Subject Properties) shall operate permissible activities according to the Shariah principles and requirements;
The rental income of Al-Salām REIT are derived from Shariah permissible activities and shall remain guided by the 20% benchmark as determined by the SC’s SAC for the criteria on rental from non-permissible activities;
Al-Salām REIT will ensure that all forms of investment, deposit and financing instruments comply with Shariah principles and requirements;
The Manager will obtain and maintain Takaful scheme coverage on the assets of Al-Salām REIT (including the Subject Properties) against fire and public liability, which are statutory takaful requirements as well as loss of rental coverage. Only if the takaful schemes are unable to provide the coverage, Al-Salām REIT is permitted to use conventional insurance schemes; and
Any other requirements as stipulated under the Guidelines.
Appointment Date 22 June 2006
Academic and Professional Qualifications
Currently, he is an Islamic Advisor to DYMM Sultan Johor and Advisor to Johor State Islamic Council. He is a member of the Johor Royal Council and Islamic Religious Council (Johor). He retired as Mufti of Johor in November 2002 and continued his service until 13 November 2008 and now remains as the Advisor to the Islamic Religious Council (Johor). He was appointed as Federal Supreme Committee of Islamic Affairs Strengthening Management on 9 August 2018. His vast experience in Islamic practise and jurisprudence, juristic methodology, hadith and its sciences and spirituality were gained throughout his services as Acting Kadi, Syarie Lawyer Islamic Affair Officer Religious Department (Prime Minister Department), Acting Assistant Examination and Registrar Religious School of Johor State and Religious Teacher of Johor State.
22 June 2006
Academic and Professional Qualifications
He began his career with Universiti Kebangsaan Malaysia as the Head of Department of Quran and Sunnah, Faculty of Islamic Studies and Lecturer at Faculty of Law Universiti Kebangsaan Malaysia.
He has served as Shariah Advisor and Shariah committee member at several corporate organisation such as Tabung Haji, Bank Negara Malaysia, Dewan Bahasa dan Pustaka, Takaful Nasional and Terengganu Trust Fund as well as financial institutions namely, Bank Muamalat Malaysia Berhad,
Bank Kerjasama Rakyat Malaysia Berhad, RHB Bank Berhad and Bank Pembangunan Malaysia Berhad.
IBFIM is a registered Shariah Adviser under the Capital Market Services Act 2007 and has been providing a wide range of Shariah advisory and consultancy services for Islamic financial services industry since 2001. IBFIM is also a lifelong learning institution that specialises in technical certifications for Islamic financial services industry. As Shariah Adviser to Al-Salām REIT, IBFIM is providing necessary advice to ensure that Al-Salām REIT business is Shariah compliant. IBFIM was appointed as the Shariah Adviser for Al-Salām REIT effective 2 July 2020.
Profile of Designated Person responsible for Shariah matters relating to Al-Salām REIT
In relation to Shariah matters, the designated persons responsible for the fund investment activities under Al-Salām REIT are Mohamad Salihin Deris and Irma Namira Missnan.
Mohamad Salihin Deris is the Director, Business Advisory of IBFIM. He brings with him approximately 20 years of blended experience in Islamic finance and Shariah advisory in both roles: as a policy maker in a regulatory authority and as an industry practitioner. At IBFIM, he leads the Shariah advisory and consultancy team helping the clients to achieve a comprehensive and optimal Shariah compliance solution. Mohamad Salihin started his career with Bank Negara Malaysia's Islamic Banking & Takaful Department. He then served CIMB Islamic Bank, Hong Leong Islamic Bank and Association of Islamic Banking Institutions Malaysia (AIBIM) before joining Bank Pembangunan Malaysia Berhad (BPMB). He had gained experience in Shariah advisory, research, secretariat and review functions, developed and implemented the overall Shariah governance framework. He had involved in conversion into a fullfledged Islamic development bank initiative. Currently he is a Shariah Committee member of Affin Islamic Bank.
Mohamad Salihin holds double-degree in LLB(Hons) and LLB(Shariah)(Hons) from International Islamic University Malaysia.He also holds Associate Qualification in Islamic Finance (AQIF) and has obtained Certified Shariah Advisor (CSA) from the Association of Shariah Advisors in Islamic Finance (ASAS). He is an exco, a trainer and reviewer of contents of the Shariah certification modules for ASAS. Occasionally, he speaks in Islamic finance events on Shariah governance. He is registered with the Securities Commission Malaysia as IBFIM's designated person responsible for Shariah matters in relation to the Islamic capital market-related product and services.
Irma Namira Missnan is currently a Manager, Business Advisory of IBFIM. She brings with her approximately 9 years of experience in Islamic finance and Shariah advisory. At IBFIM, she is responsible to lead and provide relevant inputs for the Shariah advisory, consultancy and research functions with regard to Islamic banking, takaful, Islamic capital market, Islamic REITs and Islamic unit trust funds. Irma Namira started her career as a Shariah executive in RHB Islamic Bank Berhad since 2012. Specializing in Shariah advisory,governance and management portfolios, she was then entrusted as a Section Head of the Shariah Secretariat of RHB Islamic Bank from May 2015 until March 2020 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 markets. Irma Namira graduated with Bachelor of Shariah and Laws (Hons) from Universiti Sains Islam Malaysia and obtained Certificate in Islamic Law of Banking & Finance from International Islamic University Malaysia. She is a member of Association of Shariah Advisors in Islamic Finance (ASAS). She is registered with the Securities Commission Malaysia as IBFIM's designated person responsible for Shariah matters in relation to the Islamic capital market-related product and services.