MUAMALAH FINANCIAL CONSULTING SDN BHD ('Muamalah or MFC')
comprises a team of former Islamic Bankers with a combined experience of over 30 years in Islamic
Banking and Financing.
Company Registration Number : 494989-H
Registered Address : 17-01, First Floor, D'Bayu, Jalan Serambi U8/21, Bukit Jelutong,
40150 Shah Alam, Selangor, Malaysia
Correspondence Address : 17-01, First Floor, D'Bayu, Jalan
Serambi U8/21, Bukit Jelutong, 40150 Shah Alam, Selangor, Malaysia
Tel: +603 7842 5187, +6012 212 5405
Muhammad Zahid Abdul Aziz
Mohamed Zamani Abdul Aziz
Associate Director : Mustafa Omar
Associate Director : Abdul Rais Abdul Majid
Resident Consultants :
Muhammad Zahid Abdul Aziz BA Econ (Exeter)
Mustafa Omar BBA (IIUM, KL)
Assistant Consultant - Nur Anira Razak BBA (IIUM, KL)
Ustaz Md Zaki Abdul Manan - MA(UKM, KL), MPhil(London)
Abdul Rais Abdul Majid MBA (Manila) BSocSc (USM, Penang)
Mohamad Illiayas Seyed Ibrahim Master of Law (UM, KL), B Law (Spore), Dip Syariah Law & Practise (IIUM,
KL) (Associate Consultant)
Syariah Panel For Sukuk :
Resident Syariah Adviser for Islamic Unit Trust Funds:
. Muhamad Hafidz Nuruddin
- Legal Panel
Mohamad Illiayas & Co, Advocates & Solicitors - Level 7, Wisma
MLS, 31, Jalan Tuanku Abdul Rahman, 50100 Kuala Lumpur
Azmi & Associates - 14th Floor, Menara Keck Seng, 203 Jalan Bukit Bintang,
55100 Kuala lumpur Malaysia
Albar & Partners - 6th Floor Faber
Imperial Court, Jalan Sultan ismail,50250 KL
Hafidz & Co., Advocates & Solicitors - Unit 419, Block A, Kelana Business
Centre, No. 97, Jalan SS 7/2, Kelana Jaya, 47301 Petaling Jaya, Selangor
ZAHID ABDUL AZIZ
En. Muhammad Zahid Abdul Aziz, aged 57, holds
a Bachelors Degree in Economics from University of Exeter, United Kingdom.
After graduating in 1977, he joined an International Accounting Firm, Arthur Young & Co., London Office. He returned to
Malaysia in 1982 and joined Arab Malaysian
Merchant Bank Kuala Lumpur. He joined Bank Islam Malaysia Berhad in 1990 where he pioneered and helped develop Islamic Corporate
Banking specializing in Islamic Syndications and Islamic Bond Issuance. He
left Bank Islam in September 2000 to form Muamalah Financial Consulting Sdn Bhd., an Islamic Financial Consultancy company. He
has just returned from Riyadh where he was Sukuk and Islamic Investment Banking Consultant to a leading
Islamic Corporate Financing
Arrangement of major Islamic Syndications / Bond issues.
Arrangement of International Islamic Syndications / International
Lecturer at Islamic Banking Courses
Invited Speaker for Central Bank, Securities Commission,
Labuan Offshore Authority, courses and conferences.
Invited Speaker at International Islamic Banking Forums
Speaker/Presenter at the following
October 1996- 3rd Annual
Dubai Forum on Islamic Banking and Finance.
Paper:Infrastructure and Project Finance.Pooling of Funds for Syndicate Financing
May 1997-International Conference on Islamic Banking
& Finance,(Securities Commission of Malaysia)
Financing of Kuala Lumpur International Airport
November 1997 - Second Asia
Pacific Economic Cooperatio(Export Financing Institutions (Apec EFI) Meeting,Kuala Lumpur)
Paper : Islamic Financing for Infrastructure Projects.
December 1997 - Marketing Strategies
for Islamic Banks and Financial Institutions
Paper:The Challenges of Marketing Islamic Corporate Financing Products.
April 1998 - International Conference on Islamic Investment & Challenges(International Association of Islamic
Paper:Corporate Financing and SecuritizationIssues & Challenges
August 1998 - Workshop on Developing Islamic Financial Instruments for a
Labuan International Islamic Money Market (ALIIMM)(Labuan Offshore Authority)
Paper:Method of Financing and Practical Issues in Structuring Islamic Financial Instruments
1999-Seminar on Islamic Banking and Finance for D8 and OIC
Countries(Government of Malaysia and Central Bank of
1999 - Seminar on Islamic Capital Market
Commission of Malaysia)
Financial Instruments and The Islamic Capital Market
2000 - Seminar on Islamic Corporate Financing
Islam Institute of Research & Training)
Paper: Islamic Syndications & Islamic Bonds
2000 - World Class Islamic Finance Conference
Evans ICM Conferences)
Paper: Economics of Islamic Banking From A Practitioner’s View
July 2001 - New Developments in Malaysia’s Debt Capital Market.
Paper: Islamic Private Debt Securities Issues, Challenges and
Analysis on Future Direction.
Sept 2001 - Seminar on Islamic Private Debt Securities.
Paper: Issuance of Islamic PDS: Complying with SC Guidelines.
2001 onwards - Various SC/Central Bank of Malaysia In-House
Seminars & Colloquiums
Mr. Mustafa Omar, aged 37, holds a Bachelor’s Degree in
Business Administration (Second Class Upper) from the International Islamic University Malaysia. He is a very experienced Islamic Corporate Banker having spent 7 years
in the Corporate Banking Division of Bank Islam Malaysia Berhad, prior to joining Muamalah Financial Consulting. His experiences
include Credit Processing for Corporate Financing requirements of clients covering Project Financing Working Capital Financing,
Leasing and Asset Acquisition. He was also responsible for arranging major syndications. Part of his job included advising
customers on cash flow projections and appropriate financing structure to meet their needs. He is a regular lecturer at Islamic
Banking Courses and Seminars in Malaysia.
Internationally, he has lectured on training courses for the Islamic Bank of Brunei.
Presently based in Riyadh as Sukuk and Islamic Investment Banking Consultant to a leading Islamic Bank.
MD ZAKI AB MANAN
Zaki Ab Manan, aged 56, holds a Masters Degree in Syariah from Universiti Kebangsaan Malaysia and a Master in Philosophy/PhD
from the school of Oriental and African Studies, University of London. Starting his Career at the Islamic Research Center,
Islamic Division, Prime Minister's Department. Ustaz Zaki's working experience spans the Islamic Religious Department,
Wilayah Persekutuan Kuala Lumpur, Islamic Advancement Department Kota Kinabalu , Sabah, Publications Department of the Islamic
Advancement Department of Malaysia, and the Islamic Training Institute of Malaysia. A Specialist Syariah researcher in Halal
foods, capsules, cosmetics and other animal products, Ustaz Zaki actively participates in TV and Radio Forums as well as giving
Lectures at Government Departments and INTAN. He has also attended and presented papers at International Islamic Seminars
and Forums. Ustaz Zaki also advises Koperasi Muslimin Malaysia on its business activities.
ABDUL RAIS ABDUL MAJID
From 2002 to 2004, Mr. Abdul
Rais was the Chief Executive Officer of the International Islamic Financial Market (IIFM), an international organization based
in Bahrain, which was established as a standard setting body to regulate and encourage the creation and global trading of
Islamic capital market instruments.
Prior to this, he was at
Bank Muamalat Malaysia Berhad as Senior Vice President/Head of International Banking and Head of Investment Banking.
Mr. Abdul Rais
joined the financial services sector more than thirty years ago upon graduation from Universiti Sains Malaysia, Penang. He served in various capacities, mostly
at international locations, at Bank Bumiputra Malaysia Berhad. After serving as Head of Financial Institutions Department
in Kuala Lumpur, he was assigned to New York as General Manager
of BBMB New York branch in early1993, and subsequently as Chief Executive Officer of BBMB International Bank (L) Ltd and CEO
of BBMB International Trust Limited in Labuan in 1996.
He joined Bank Muamalat Malaysia Berhad, Malaysia’s
second full-fledged Islamic bank in 2000 where he was responsible for setting up and heading the Investment Banking Division
until he was selected by an international panel of central bankers to set up and head the IIFM.
Mr. Abdul Rais has presented
a number of papers on Islamic capital markets and risk management at international conferences in London,
Bahrain, Dubai, Doha,
Jeddah Singapore, Kuala Lumpur, Jakarta, Brunei and
Mr. Abdul Rais holds a Master’s
Degree in Business Administration from the Asian Institute of Management, Manila, Philippines and a Bachelor’s Degree in Social Science from University Sains Malaysia in Penang, Malaysia.
Mohamad Illiayas bin Seyed Ibrahim
Mohamad Illiayas graduated with a Bachelor of Laws (Hons) from National University
of Singapore and was called to the Malaysian Bar on 12 March 1988
and the Singapore Bar on 13 October 1991. He subsequently obtained the Master of Laws degree from the University
of Malaya and the Diploma in Syariah Law & Practice from the International
Islamic University Malaysia. He is an Associate Member of the Chartered Institute of Arbitrators, U.K. and the Center for International Legal Studies, Salzburg, Austria.
He first practised law with Messrs Zain & Co. and Messrs Mohamed Ismail & Co. as a
Legal Assistant. In 1994, he was made a partner of Messrs Mohamed Ismail &
Co. He remained in Messrs Mohamed Ismail & Co. until 1996, when he established
his firm Mohamad Illiayas & Co. (now renamed Illiayas).
Mohamad Illiayas has extensive experience in advising various clients in exercises
ranging from Banking & Islamic Banking, Takaful (Islamic Insurance), Corporate, Commercial and Dispute Resolution.
Amongst his notable assignments include:
handling all aspects of Banking, Takaful (Islamic Insurance), Re-takaful, Corporate and Commercial matters;
specializing in Islamic Banking and Finance since 1992;
preparing the pioneer sets of Islamic Banking and Finance financial documents for various financial institutions including
for Bai’ Bithaman Ajil, Murabahah, Mudharabah, Musyarakah, Ijarah and Qardhul Hasan transactions;
handling Islamic bonds and Islamic equity transactions; and
vetting Corporate, Commercial and Information Technology documents for clients including Bank Islam Malaysia Berhad
and Syarikat Takaful Malaysia Berhad.
He has presented papers on Islamic Banking and Finance, Company Law and Property
Law since 1994 at conferences, seminars and workshops organized by Islamic Banking and Finance Institute Malaysia (IBFIM),
Institut Kefahaman Islam Malaysia (IKIM), Asia Business Forum, Center for Research and Training (CERT), Center for Management
Technology, the Bar Council Malaysia and Monash University (Malaysia).
He was a member of the Syariah Laws Committee, Bar Council Malaysia
from 1997 until 2004 and a member of the Corporate & Commercial Laws Committee, Bar Council Malaysia in 2005.He is presently
a member of the Islamic Finance Committee, Bar Council Malaysia.
Prior to reading law, he worked as an Audit Assistant at Messrs Hanafiah, Raslan and
Mohamad (then affiliated with Touche Ross International), Chartered and Public Accountants, Kuala Lumpur from 1979 to 1982.