The Shariah Adviser

General information of the Shariah Adviser

ZICO Shariah Advisory Services Sdn. Bhd (ZICO Shariah) is a member of ZICO Holdings and is registered with the Securities Commission Malaysia (SC) to advise on sukuk issuances, Islamic funds as well as other Islamic capital market products and instruments. It is also approved by the Bank Negara Malaysia to provide Shariah advice, Shariah review and Shariah audit services to Islamic financial institutions. ZICO Shariah has more than 14 years of Shariah advisory experience.

Roles and responsibilities of the Shariah Adviser

As Shariah Adviser, ZICO Shariah will ensure the operations and investments of the Funds are in compliance with Shariah requirements. ZICO Shariah will review the Fund’s investments on a monthly basis to ensure adherence with Shariah requirements at all times.

In line with the SC Guidelines, the roles of ZICO Shariah as the Shariah Adviser are:

Ensuring that the operations and investments of the Funds are in compliance with Shariah principles/ requirements;
Providing expertise and guidance for the Funds in all matters relating to Shariah principles, including on the Funds’ deed and prospectus/offering documents, its structure and investment process, and other operational and administrative matters;
Consulting the SC who may consult the Shariah Advisory Council of the SC (SACSC) where there is any ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process;
Scrutinising the Funds’ compliance report as provided by the compliance officer, transaction report provided by or duly approved by the Trustee and any other report deemed necessary for the purpose of ensuring that the Funds’ investments are in line with the Shariah principles;
Preparing a report to be included in the Funds’ semi-annual and annual report certifying whether the Funds have been managed and administered in accordance with the Shariah principles;
Ensuring that the Funds comply, with any guideline, ruling or decision issued by the SC, with regard to Shariah matters;
Vetting and advising on the promotional materials of the Funds;
Assisting and attending to any ad-hoc meeting called by the SC and/or any other relevant authority and;
Apply ijtihad (intellectual reasoning) to ensure all aspects relating to the operations and investments of the Funds are in compliance with Shariah, in the absence of any rulings, principles and concepts endorsed by the SACSC.

Profile of the Shariah team

Dr. Aida Othman

Dr. Aida Othman is a Partner at Zaid Ibrahim & Co. (a member of ZICO Law). She is also the director of ZICO Shariah. Dr. Aida specializes in Islamic banking and finance, Islamic capital market instruments and Takaful products and operations. Her practice areas include Shariah Advisory, Islamic Banking & Finance, Shariah Compliance & Governance, Islamic Wealth Management and Corporate Commercial matters.

She also advises on Shariah compliance and governance, including on the legal and regulatory framework for Islamic finance. In particular, she has advised on the structure and documentation for Islamic banking products, the legal and regulatory framework for Islamic financial services, structuring and Shariah compliance issues for Sukuk issuance, private equity funds and unit trust funds, Shariah review and Shariah audit of Islamic financial institutions, Takaful products and operations and Islamic wealth planning and management.

Dr Aida is an Advocate & Solicitor of the High Court of Malaya. She is also a panel arbitrator for banking/financial instruments at the Asian International Arbitration Centre (AIAC), a member of the Society of Trust and Estate Practitioners (STEP), United Kingdom, a former member of the Technical Working Group on Ethics of the Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI), Bahrain, a member of the Shariah Committee, HSBC Amanah Malaysia Berhad, a member of the Shariah Committee, Permodalan Nasional Berhad, a member of the Shariah Committee, AmMetlife Takaful Berhad, a member of the Islamic Finance Committee, Bar Council, Malaysia, a member of the Association of Shariah Advisors in Islamic Finance (ASAS), Malaysia and a member of the Majlis Agama Islam & Adat Melayu Negeri Perak.

Dr. Aida holds a Doctor of Philosophy in Comparative Law & Middle Eastern Studies from Harvard University, United States of America and Postdoctoral Fellowship at the Faculty of Arts & Sciences, Harvard University, United States of America. She also obtained Masters of Law from Cambridge University, United Kingdom, Bachelor of Laws (First Class Honours) and Bachelor of Islamic Law (Syhariah) (First Class Honours) from International Islamic University, Malaysia.

Dr. Aida sits on the Shariah Advisory Board of HSBC Amanah Malaysia Berhad.

Corporate Directory
ZICO Shariah Advisory Services Sdn Bhd 200701011429 (769433-D)

Registered Office and Business Address
Level 13A, Menara Milenium,
Jalan Damanlela,
Pusat Bandar Damansara,
50490 Kuala Lumpur.
Tel : 03-9212 0976
Fax : 03-9212 0974
Email : Zh-shariah@zishariah.com
Website: www.zico.group

ABOUT US

FUNDS

RESOURCES

CONTACT US

Contact us

Disclaimer Privacy Policy Terms of Use Anti-Corruption & Whistle Blowing Personal Data Protection Notice

The above information has not been reviewed by the SC and is subject to the relevant warning, disclaimer, qualification or terms and conditions stated herein. Investors are advised to read and understand the contents of the Master Prospectus dated 3 January 2023 and its First Supplemental Master Prospectus dated 20 October 2023; Master Prospectus dated 15 May 2023 and its First Supplemental Master Prospectus dated 20 October 2023; Prospectus dated 19 June 2024; Prospectus dated 3 October 2023; Prospectus dated 18 August 2022 and its First Supplemental Prospectus dated 30 December 2022; Disclosure Document dated 14 February 2022 and its First Supplemental Disclosure Document dated 30 August 2023 for Manulife PRS NESTEGG Series; Disclosure Document dated 14 February 2022 and its First Supplemental Disclosure Document dated 30 August 2023 for Manulife Shariah PRS NESTEGG Series; Information Memorandum dated 2 May 2023 and its First Supplemental Information Memorandum dated 2 January 2024; Information Memorandum dated 9 August 2021 and its First Supplemental Information Memorandum dated 10 August 2023 and its Second Supplemental Information Memorandum dated 2 January 2024; Information Memorandum dated 11 February 2020 for Manulife Dragon Growth Fund; Information Memorandum dated 11 February 2020 and its First Supplemental Information Memorandum dated 13 September 2021 and its Second Supplemental Information Memorandum dated 31 January 2022 and its Third Supplemental Information Memorandum dated 21 August 2023 and its Fourth Supplemental Information Memorandum dated 2 January 2024 for Manulife Asian Small Cap Equity Fund; Information Memorandum dated 11 February 2020 and its First Supplemental Information Memorandum dated 31 January 2022 and its Second Supplemental Information Memorandum dated 10 August 2023 and its Third Supplemental Information Memorandum dated 28 February 2024 for Manulife SGD Income Fund; Information Memorandum dated 11 February 2020 and its First Supplemental Information Memorandum dated 10 August 2023 and its Second Supplemental Information Memorandum dated 2 January 2024 for Manulife Global Emerging Markets Multi-Asset Income Fund; Information Memorandum dated 11 February 2020 and its First Supplemental Information Memorandum dated 31 January 2022 and its Second Supplemental Information Memorandum dated 10 August 2023 and its Third Supplemental Information Memorandum dated 2 January 2024 for Manulife ASEAN Equity Fund; Information Memorandum dated 4 September 2019 and its First Supplemental Information Memorandum dated 18 October 2019; Master Information Memorandum dated 26 November 2019 for 2 Funds and Information Memorandum dated 3 February 2020 and its First Supplemental Information Memorandum dated 13 September 2021 and its Second Supplemental Information Memorandum dated 10 August 2023 and its Third Supplemental Information Memorandum dated 2 January 2024 and all the respective Product Highlights Sheet(s) (collectively, the “Offering Documents”), obtainable at our offices or website, before investing. The Offering Documents have been registered with the Securities Commission Malaysia (SC), however the registration with the SC does not amount to nor indicate that the SC has recommended or endorsed the product. There are risks involved with investing in unit trust funds; wholesale funds and/or Private Retirement Schemes. Some of these risks associated with investments in unit trust funds; wholesale funds and/or Private Retirement Schemes are interest rate fluctuation risk, foreign exchange or currency risk, country risk, political risk, credit risk, non-compliance risk, counterparty risk, target fund manager risk, liquidity risk and interest rate risk. For further details on the risk profile of all the funds, please refer to the Risk Factors section in the Offering Documents. The price of units and income distribution may go down as well as up. Investors should compare and consider the fees, charges and costs involved. Investors are advised to conduct own risk assessment and consult the professional advisers if in doubt on the action to be taken. Past performances are not an indication of future performances. Where a unit split/distribution is declared, investors are advised that following the issue of additional units/distribution, the NAV per unit will be reduced from the pre-unit split NAV/cum-distribution NAV to post-unit split NAV/ex-distribution NAV; and where a unit split is declared, the value of your investment in the Fund’s denominated currency will remain unchanged after the distribution of the additional units. You are advised not to solely rely upon the ratings or rankings disclosed herein in making an investment decision. The ratings or rankings disclosed herein are current; the same may change in the future.

The Manager, Manulife Investment Management (M) Berhad Registration No: 200801033087 (834424-U) (hereinafter referred to as “Manulife IM (Malaysia)”) is a wholly owned subsidiary of Manulife Holdings Berhad and holds a Capital Markets Services License for fund management, dealing in securities restricted to unit trusts, dealing in private retirement schemes and financial planning under the Capital Markets and Services Act 2007. Manulife IM (Malaysia) operates under the brand name of Manulife Investment Management which is the global wealth and asset management segment of Manulife Financial Corporation.