Legal Officer – Jeddah – Islamic Development Bank

This role is responsible for providing legal advice on a broad range of legal and regulatory aspects, at the organizational as well as deal level. This includes ensuring that all ICD projects are in adherence with Shariah principles. This role is responsible for safeguarding ICD interest and ensuring representation for the organization in all legal matters.

Providing input to potential deals and advising products teams at an early stage on the alternative modes of finance available to meet client requirements, how to structure these and ensuring Shariah compliance. Guiding the products teams on the focus areas for the Due Diligence process.
Conducting the Legal Due Diligence from the legal, judicial, regulatory and tax perspective. Preparing the Back to Office Report summarizing key findings, and recommending optimal product structuring and mitigating action in order to ensure compliance with Shariah principles.
Reviewing Term Sheets from originating departments and ensuring compliance with Legal and Shariah guidelines.
Reviewing draft agreements for co-financing and syndications requests and ensuring compliance from a legal perspective. Ensuring that the terms of agreement uphold ICD interest, and recommending modifications, as required.
Representing the legal point of view in the ICM and ECM reviews at the request of the Head Legal, identifying potential risk factors on contracts, recommending security clauses and advising on their applicability.
Reviewing deals to ensure Shariah compliance and requesting for Shariah Committee meetings and input as required. Securing approval from the Shariah Committee for prospective ICD projects.
Preparing legal documentation for all prospective ICD deals in the assigned region, and ensuring adherence with ICD’s norms and guidelines. Supervising local law firms in ensuring complete legal documentation for ICD projects, as required.
Reviewing documentation files for approved deals, and issuing Payment Clearance notifications to initiate the first fund disbursement.
Preparing notifications for transaction closure and release of collateral/securities in case of project cancellations or closure.
Advising on restructuring clauses for distressed projects in order to safeguard ICD interest. Reviewing historical data on nonperforming assets and incorporating lessons learnt to develop a more programmatic approach to managing distressed projects.
Advising on litigation and recovery possibilities as final recourse. Participating in the litigation process and preparing documentation in order to uphold ICD interest.
Appointing law firms in concerned member country in order to conduct litigation activities, as required. Managing ICD and client interests in a manner that safeguard’s organizational interest in line with ICD’s developmental philosophy.
Processing Treasury documentation for fund placement, and ensuring compliance with legal requirements, as necessary.
Staying abreast of new modes of Islamic Finance for ICD at a strategic level, and guidelines on how to structure these in a Shariah compliant manner.
Advising products teams on the legal and regulatory environment, areas of concern across member countries assigned and their nuances for regulatory compliance.
Identifying legal specialists with expertise in the assigned member country laws and regulations, in order to leverage local country insight and guidance from a legal perspective. Identifying areas in which external expertise is required to enhance the quality of legal advice proffered by the Legal department, e.g. newer member countries where ICD has done limited work in the past.
Serving as the internal point of contact between ICD and external law firms, in order to supervise proceedings and ensure timely action on all legal matters.
Responding to employee grievances within ICD, and conducting investigative activities as deemed necessary. Advising on corrective action, and ensuring regulatory compliance.
Reviewing legal agreements between ICD and third party organizations, and ensuring adherence with internal guidelines for legal and regulatory compliance. Preparing the requisite documentation to ensure legal and regulatory compliance.

Post Graduate Degree in Law .LLM is must .

Work Experience::
minimum of 3 years in banking and finance practice.

Language Requirements:
Fluency in English is a must .
Other region-specific language skill requirements to be determined basis geographic orientation.

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