Could you provide a brief journey of how you arrived where you are today?
As part of my journey, having gone through the growth period prior to the global financial crisis and then witnessing considerable numbers of investors being severely affected due to the issues caused by debt, it became evident that there was a huge and unmet demand for solutions to be developed which genuinely protected the investors’ interests.
What does your role involve?
My main roles are as follows:
a) To ensure that the overall strategy of the business, and the framework within which the company must operate, is strictly followed at all times.
b) To identify and select suitable asset classes, which form the basis of our funds.
c) To maintain and further develop relationships, in addition to those that are already well established, with other world-class service providers and strategic partners.
What is your greatest achievement to date?
I started in the real estate investment business with no capital. Our first clients came via an advert placed in the UK national press.
After this, the company grew extremely fast. This was due to the quality of customer service. The level of due diligence at no cost to the clients was also a major contributing factor, as it is with ethical asset management.
From 2006 to 2008, we grew from a start-up to a company with an overall turnover of GBP8.75 million (US$13.88 million). I believe the greatest achievement in this process was the fact we did this with no involvement of debt.
Which of your products/services deliver the best results?
I would like to think that our funds will set a new and better standard within the global asset management industry: in particular the Shariah compliant, ethical and socially responsible sectors.
The basis on which our business model has been developed can clearly demonstrate that the risks associated with similar opportunities are significantly higher, with very little difference in relation to the returns.
What are the strengths of your business?
We are not aware of any other company currently operating in the manner we are within the global asset management industry.
We will never suggest anything as being worthy of consideration to our clients without firstly having fully researched it with our own capital; financial as well as human. Once satisfied, we will then carefully select a world-class team to deliver.
What are the factors contributing to the success of your company?
Our success can be wholly attributed to the boundaries within which we operate. I believe that these are basic good values that people can relate to and something that does not require a label.
What are the obstacles faced in running your business today?
The increasing demand from investors for solutions that protect their interests and fulfill their needs is one that shows no sign of diminishing. The issue is how to deliver the right products in a manner that takes care of the necessary considerations efficiently and effectively.
Where do you see the Islamic finance industry in the next five years?
We are extremely fortunate to have world-class scholars, practitioners and individuals within the Islamic finance industry. There is also a lot of talk about what the industry should be doing to change things for the better. The time is now to get together and start acting.
Name one thing you would like to see change in the world of Islamic finance.
I would like Islamic finance to firmly establish its true identity. It is a tragedy that the industry continues to, by whatever means possible, create and promote structures and solutions that are, in many cases, in all but name identical to their conventional counterpart.
This is not, in my opinion, going to change things for the better.