Website Al Baraka Bank South Africa
Al Baraka Bank, registered in South Africa since 1989, pioneered Islamic banking in this country in response to an identified need for a system of banking which adhered to Islamic economic principles. The bank, with its Head Office in Durban and a strategically located national branch network, is So… read moreuth Africa’s only fully-fledged Islamic bank and is a subsidiary of the international Al Baraka Banking Group B.S.C., which has established one of the largest international Islamic banking groups in the world.
CORE PURPOSE OF THE JOB
Ensure that all payment requests received by Albaraka Bank Limited, are processed in accordance with the Bank’s internal rules, adherence to Shariah compliance, Compliance with International Banking norms & practices & maintaining excellent client service.
Trade Payment Processing
Local and International application vetting
Verifies all Local and International purchases ensuring that all transactions are in accordance to ABL’s Credit Policies i.e arrears are settled, purchases are within the approved facility, excess approval is obtained prior to release of payouts
Trade Facility Exposure Management
Ensure client utilization aligns with approved limits; obtain top-up confirmation if exceeded and factor in unpaid deposit exposures before approving new advances.
Administration of Trade Finance Advances
Foreign Payments (Documentary & Non-documentary):
Review payment requests and ensure compliance with policies and Shariah principles.
Prepare and approve applications for processing.
Coordinate with clients regarding Offer to Purchase.
Trade Shariah Compliance
Ensure all transactions and delivery confirmations align with Shariah checklists. Follow up on non-finalized trade advances (NFDs), update SharePoint logs, and mitigate Shariah risk through timely client engagement and documentation.
Not Finalized Trade Advances – Second Sales & invoicing:
Maintain regular contact with clients regarding shipment status.
Ensure timely receipt and vetting of Offer to Purchase documents. Finalize trades per Shariah guidelines and client terms, manage delays through logging and follow-ups, and maintain accurate records for all transactions.
Client Support & General Administration
Client Support:
Address customer complaints and inquiries promptly.
Ensure timely execution of trade processes.
Internal Divisions:
Assist internal departments with trade finance queries.
Compile audit files and provide feedback on compliance audits.
Department Operations:
Administration & Reporting
Monitor and respond to trade emails promptly.
Log transactions on SharePoint for diarised payments and profit recovery.
Assist clients and internal teams with queries and trade guidance.
Support reporting on overdue NFDs.
Facilitate repayment allocations
Ensure transaction verifications comply with Shariah requirements.
Support staff
Provide back-office support for staff coverage within the division.
Requirements
QUALIFICATIONS
A diploma or recognized certificate in International Trade would be an advantage
PREFERRED EXPERIENCE
A minimum of 2-5 years of general banking experience, accounting & international trade finance
Apply via company website ( N / A ) or
albaraka.mcidirecthire.com