Chief Accountant - Islamic Automobile Leasing

Chief Accountant

Islamic Automobile Leasing (Ijara)

Job Summary

He will lead the financial strategy and operations of a Sharia-compliant automobile leasing company. The role includes managing credit lines & bank relationship, close book of accounts and financial reporting.

Key Responsibilities

Strategic Financial Leadership

• Develop and implement financial strategies aligned with the company's growth and Sharia framework.

• Advise the Executive Committee on financial planning, capital structuring.

• Support management in executing of strategic vision.

• Support expansion initiatives, including fleet growth and new leasing products.

• Lead structuring of Ijara-based leasing and other Sharia-compliant solutions

• Oversee adherence to IFRS standards, including lease accounting (IFRS 16) adapted for Islamic finance.

• Liaise with the Sharia Board to ensure full compliance

• Manage Zakat and Sharia audit requirements

Fleet & Asset Management

• Oversee financing of vehicle acquisitions through Sharia-compliant facilities.

• Manage asset lifecycle: acquisition, depreciation, maintenance cost optimization, and resale.

• Optimize residual values and asset utilization

Lease Portfolio Management (Ijara Contracts)

• Develop pricing models aligned with Islamic finance rules

• Monitor portfolio performance: defaults, delinquencies, and asset recovery.

• Ensure proper structuring of lease contracts (ownership retained by lessor, risk sharing).

Risk Management

• Identify and mitigate risks related to credit, liquidity, and asset depreciation.

• Establish robust internal controls aligned with both financial and Sharia audit requirements.

• Manage insurance (Takaful-based where possible).

Financial Reporting & Governance

• Oversee preparation of financial statements and management reports.

• Ensure transparency and accuracy in reporting to stakeholders and regulators.

• Coordinate internal and external audits, including Sharia audits.

Treasury & Capital Management

• Manage liquidity, funding, cash flow, and working capital.

• Build relationships with Islamic banks and financial institutions.

• Optimize funding through Sharia-compliant instruments.

• Identify and mitigate financial and operational risks

• Implement strong internal controls

Qualifications & Requirements

• Bachelor's degree in Finance, Accounting, or related field (MBA preferred).
• Professional certifications such as CPA, or ACCA.
• 8–10 years of experience, including leadership roles in:
• Islamic finance
• Leasing / asset financing
• Banking or financial services
• Strong knowledge of:
• Islamic finance contracts (Ijara)
• Kuwait regulatory environment
• Experience working with Sharia boards is highly preferred.
• Native Arabic Speaker

Key Competencies

• Deep understanding of Islamic finance principles

• Strategic financial planning in asset-heavy businesses

• Strong regulatory and compliance expertise

• Advanced financial modeling and risk management

• Leadership and stakeholder management

Interested candidates submit CVs to techkwt@soshr.net or Whatsapp: 69009489