Shariah Advisory (IBFIM)


  • IBFIM is a registered Shariah Adviser with the Securities Commission Malaysia under the Capital Market Services Act 2007 and has been providing a wide range of Shariah advisory and consultancy services for Islamic financial services industry since 2001.

  • Over the years, IBFIM advisory’s area of expertise has expanded beyond banking and finance ecosystem. IBFIM has ventured into helping to provide Shariah solution to non-traditional financial markets with the vision to make Islamic finance accessible to all and inclusive in nature.
  • IBFIM is also an affiliate organisation under Bank Negara Malaysia which has been mandated as a lifelong learning institution that specialises in Islamic finance industry technical certifications. The certifications are designed to ensure attainment of skill and proficiency levels to fulfil jobs requirement and support professionalism of the Islamic finance industry.

  • IBFIM key programmes are developed based on Qualifications Framework and are accorded Full Accreditation by the Finance Accreditation Agency (FAA) to maintain the quality and provide progressive career route for the certificate holders. In addition, IBFIM offers joint programs with industry’s professional bodies, academic institutions as well as the Ministries in its effort to prepare talent for the industry.

IBFIM’s Chief Executive Officer

Yusry Yusoff is the Chief Executive Officer of IBFIM.

He has more than 27 years of experience in various developmental aspects of financial industry. Prior to joining IBFIM, he had served the Association of Islamic Banking Institutions Malaysia (AIBIM), Bank Negara Malaysia (BNM), the Islamic Financial Services Board (IFSB) and Securities Commission Malaysia (SC). He is currently a Member of Bursa Malaysia’s Securities Market Consultative Panel.

His experience includes amongst others developing the standards implementation programs for IFSB, promoting the Islamic fund management industry and the development of BNM’s Sukuk Investment Fund mandate for the Islamic fund management companies under the Malaysia International Islamic Financial Centre (MIFC). He developed Islamic finance training programs for senior judges in collaboration with the Judicial Appointments Commission Malaysia. He was involved with the Law Harmonization Committee (LHC) of Bank Negara Malaysia, an initiative to harmonise Malaysian legal system to support the development of Islamic finance industry and spearheaded the organisational of Global Islamic finance forum (GIFF) in 2014 and 2016. Yusry holds LLB (Hons) degree from National University of Malaysia and a Master of Commercial Law from University of Melbourne. He was called to the Malaysian Bar in 1995. He also holds the IBFIM Certified Qualification in Islamic Finance (CQIF) and Islamic Financial Planner (IFP) certifications as well as an Associate Member, The Chartered Institute for Securities & Investment (CISI).

Mohammad Khairi Saat

Director, Training & Talent Development

Mohamad Salihin Deris

Director, Shariah Business Advisory

Fatinhamila Zainal

Acting Head, Operations






  • Advising day-to-day operational Shariah matters for existing offerings



  • Retail, corporate, treasury products etc. (banking)
  • Funds establishment, sukuk etc. (capital markets)
  • Interest scheme, P2P, ECF products (MSM Enterprises)



  • Conversion of product structure, policies, procedures & practices

  • Conversion into Shariah-compliant institution



  • Shariah governance framework development

  • Existing Shariah risk framework, policy and procedures enhancement



  • Shariah compliance and governance review
  • Risk-based Shariah audit



  • Regulation, policy & framework development

ADVISORY & CONSULTANCY - Our experience & capability

  • Diverse range of clients – fund management business, IT-based business, cooperative business, leasing business, interest scheme operators and consumer credit business

  • Advised approximately 50% of market share of listed Shariah-compliant REIT funds and approximately 30% of market share of Islamic unit trust funds

  • Advised 1st conversion of a conventional REIT fund into Islamic REIT fund in Malaysia

  • Advised 1st waqf-linked unit trust fund in collaboration with Yayasan Waqaf Malaysia

  • Consulted by local and international clients including regulatory agencies on Shariah and Islamic finance matters

  • Robust internal governance processes and framework through IBFIM Shariah Advisory Manual (ISAM)TM to support IBFIM’s Shariah advisory and consultancy services

  • IBFIM’s in-house consultants are supported by Panel of Subject Matter Experts, consists of Shariah scholars, industry experts, academicians and former regulatory experts, in order to make IBFIM as a reference centre for Islamic finance to meet the needs of all clients and stakeholders

IBFIM’s Designated Person Responsible for Shariah Advisory

The designated persons responsible for Shariah matters at IBFIM are Mohamad Salihin Deris and Irma Namira Missnan.

Mohamad Salihin Deris

Director, Shariah Business Advisory

Mohamad Salihin Deris is the Director, Shariah Business Advisory of IBFIM.

He brings with him approximately 22 years of combined experience in Islamic finance and Shariah advisory in both roles: as a policy maker in a regulatory authority and as an industry practitioner. At IBFIM, he leads the Shariah advisory and consultancy team helping the clients to achieve a comprehensive and optimal Shariah compliance solution.

Mohamad Salihin started his career with Bank Negara Malaysia’s Islamic Banking & Takaful Department. He then served CIMB Islamic Bank, Hong Leong Islamic Bank and Association of Islamic Banking Institutions Malaysia (AIBIM) before joining Bank Pembangunan Malaysia Berhad (BPMB). He had gained experience in Shariah advisory, research, secretariat and review functions, developed and implemented the overall Shariah governance framework. He had involved in conversion into a full-fledged Islamic development bank initiative.

Mohamad Salihin holds double-degree in LLB(Hons) and LLB(Shariah)(Hons) from International Islamic University Malaysia. He also holds Associate Qualification in Islamic Finance (AQIF) and has obtained Certified Shariah Advisor (CSA) from the Association of Shariah Advisors in Islamic Finance (ASAS). He is an exco, a trainer and reviewer of contents of the Shariah certification modules for ASAS. Occasionally, he speaks in Islamic finance events on Shariah governance. Currently he is a Shariah Committee member of Affin Islamic Bank and  registered  with the Securities Commission of Malaysia as IBFIM’s designated person responsible for Shariah matters in relation to the Islamic capital market-related product and services. 

Irma Namira Missnan

Manager, (Shariah Advisory)

Irma Namira Missnan is currently a Manager, Shariah Business Advisory of IBFIM.

She brings with her approximately 10 years of experience in Islamic finance and Shariah advisory. At IBFIM, she is responsible to lead and provide relevant inputs for the Shariah advisory, consultancy and research functions with regard to Islamic banking, takaful, Islamic capital market, Islamic REITs and Islamic unit trust funds.

Irma Namira had started her career as a Shariah executive in RHB Islamic Bank Berhad since 2012. Specializing in Shariah advisory, governance and management portfolios, she was then entrusted as a Section Head of the Shariah Secretariat of RHB Islamic Bank from May 2015 until March 2020 before joining IBFIM. She is experienced in the Shariah application in Islamic products and services which includes retail banking, non-retail banking and Islamic capital markets.

Irma Namira graduated with Bachelor of Syariah and Laws (Hons) from the Universiti Sains Islam Malaysia. She also obtained Certificate in Islamic Law of Banking & Finance from International Islamic University Malaysia. She is a member of Association of Shariah Advisors in Islamic Finance and  registered with the Securities Commission of Malaysia as IBFIM’s designated person responsible for Shariah matters in relation to the Islamic capital market-related product and services.