Ashraf A. ElGohary
Head, Financial Institutions & Treasury
Could you provide a brief journey of how you arrived where you are today?
What does your role involve?
What is your greatest achievement to date?
Which of your products/services deliver the best results?
What are the strengths of your business?
What are the factors contributing to the success of your company?
What are the obstacles faced in running your business today?
Where do you see the Islamic finance industry, maybe in the next five years?
Name one thing you would like to see change in the world of Islamic finance?
Shamil Bank of Bahrain is an Islamic financial institution incorporated in the Kingdom of Bahrain. Shamil Bank was established in 2000 as the result of a merger between Faysal Islamic Bank of Bahrain (FIBB) and Islamic Investment Company of the Gulf (Bahrain) (IICG). Shamil Bank has grown to become an Islamic bank with a shareholders’ equity of approximately US$353 million as at 31st December 2006. It was listed on the Bahrain Stock Exchange in 1994.
Shamil Bank’s core business areas are Private Banking, Investment Banking, Retail Banking, Corporate Banking and Treasury and Financial Institutions. Shamil Bank offers a range of Shariah compliant products and services to retail, corporate and institutional clients through its main office and a network of branches in Bahrain. Shamil Bank’s current strategy focuses on growing the value of Shamil Bank’s current commercial operations in Bahrain, building investment sourcing, structuring, and placement capabilities in order to facilitate expansion into other countries of the Gulf Cooperation Council (GCC) on a selective basis (particularly Saudi Arabia, Qatar and Kuwait).
As at 31st December 2006, Shamil Bank had total assets of US$1.69 billion (compared to US$1.53 billion as at 31st December 2005) and shareholder equity of approximately US$353 million (compared to approximately US$338 million as at 31st December 2005).