Centre for Islamic Economics & Finance, South Africa


“To Play a leading role in the revival of Islamic Economic and Financial Principles & assist businesses, organizations and professionals in achieving the highest standards of Shariah compliance”

Profile: Bilal Jakhura (Moulana)

  • Alimiyyah (Islamic Scholar) Course - at Madrasa Hamidiyya and Taleemuddeen (Durban,SouthAfrica)

  • BCompt ( Bachelors - Accounting and Auditing)- University of South Africa

  • MBA (Graduate School of Business, University of Cape Town) - Research report topic : An Analysis of the South African Sovereign Sukuk based on Usufruct. 

  • Certified Islamic Professional Accountant (AAOIFI-Bahrain)

  • Certified Shariah Advisor and Auditor (AAOIFI- Bahrain)

  • Director & Founding Member - Center for Islamic Economics and Finance South Africa (www.ciefsa,org

  • Served as Head of Shariah Department at Albaraka Bank South Africa, 2005 - July 2010.

  • Achieved 1st Position internationally in CSAA exam (2008) administered by standard setting authority AAOIFI

  • Serves as a lecturer in Tafseer, Hadith and Islamic Commercial Law at Madrasa Hamidiyya Durban South Africa since 2005.

  • Served as member of the South African Government's National Treasury Task Committee for the introduction of legislation to accommodate Islamic financial instruments in South Africa

  • Shariah Advisor- Al Bogari Holdings - Dubai

  • Shariah Board Member - Amana Holdings, Amana Capital and Amana Wealth - Sri Lanka 

  • Shariah Board Member - Barak Ibdar Trade Finance Fund 

  • Involved in setup of Islamic Banking Window for Tropical Bank Uganda 

  • Strategic Projects Consultant for Albaraka Bank South Africa

Shafique Ahmed Jakhura (Mufti)

  • Hifz (Memorization of the Holy Quran)
  • Alim (Islamic Scholarship) Course – at Taleemuddeen (Durban ,South Africa)

  • Post graduate 3 year Islamic Course in Islamic Jurisprudence (Darul Uloom Karachi Pakistan under the auspices of Mufti Taqi Usmani)

  • Completed a number of courses in Islamic Economics and Finance under the Centre of Islamic Economics (CIE), Karachi, Pakistan

  • Registered Certified Shariah Advisor and Auditor (CSAA) - Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI - Bahrain)

  • Member of Shariah Supervisory Board of AlbarakaBank Limited, South Africa

- Member of Shariah Supervisory Board of Old Mutual Albaraka Equity Fund

- Member of Shariah Supervisory Board of Old Mutual Albaraka Balanced Fund

- Member of Shariah Supervisory Board of Old Mutual GLobal Islamic Equity Fund

  • Founding Director - Centre of Islamic Economics and Finance South Africa through which we have advised and continue to provide services to many Financial Institutions Globally as well as many Corporate Entities with regards to structuring of Shariah Compliant Products. Further, we have also concluded a number of training programs through the Centre relating to Islamic Economics and Finance.

  • Serves in the Fatwa Department at Darul Ihsan Islamic Services Centre, Durban South Africa

  • Manager International Business – Evernu Plastics PTY Ltd –

Shakir Siddiq Jakhura (Mufti)

•Aalamiyyah (Islamic Scholar): Madrasah Hameediyyah, South Africa/ Jamia Darul Uloom Karachi, Pakistan
•Takhassus fil Ifta (Specialisation in Fatwa): Jamia Darul Uloom Karachi, Pakistan
•Bachelor of Science, Information Technology Management: University of South Africa
•CSAA (Certified Shariah Advisor and Auditor): AAOIFI (Bahrain)
•Research Fellow, Centre For Islamic Economics, Karachi, Pakistan
•Lecturer at Jamia Darul Uloom Karachi
•Member of Karachi Committee of standard-setting body, AAOIFI
•Served as a member of the AAOIFI Shariah Standards Urdu translation review committee
•Director, Center For Islamic Economics and Finance, South Africa