Could you provide a brief journey of how you arrived where you are today?
I completed my post-graduate studies in the US and settled right after in Saudi Arabia as a senior economist with the Arab Petroleum Investments Co. (APICORP) for seven years. My exposure to the oil & gas industry added a lot to my experience and prepared me to make my next move into banking, Islamic banking in this case.

What does your role involve?
My department is in charge of two important areas. The first is to manage the bank’s liquidity through our treasury unit and the second is to oversee and develop our relationships with regional & international financial institutions through our financial institutions unit.

What is your greatest achievement to date?
The establishment of a new department in charge of financial institutions in 2003, which was a new addition to the bank’s organizational structure. Senior management firmly believed that such an activity deserved an independent team, fully dedicated to this task. Therefore they gave us full support to develop this effort. The establishment of the FI department with treasury as its side-kick, gave the bank more muscle and better diversity in terms of liquidity management.

Which of your products/services deliver the best results?
We offer a full range of Shariah compliant retail and corporate based services to our main market, Bahrain. In addition, the bank caters to its clients’ needs by offering a unique blend of Shariah compliant investment products developed by our Investment & Private Banking teams.

What are the strengths of your business?
A strong and homogeneous management team and an excellent understanding of the Bahraini & GCC markets.

What are the factors contributing to the success of your company?
Team work, Team work, Team work.

What are the obstacles faced in running your business today?
New entrants to the market, constant flow of new products and very demanding customers.

Where do you see the Islamic finance industry, maybe in the next five years?
Given its tremendous success and phenomenal growth since 2000, I expect Islamic finance and in particular, Islamic banking to double its current size in the next five years. Recent experience has taught us that demand for Islamic products is here to stay. I can confidently state that Islamic finance/banking is quickly becoming a mainstream player in international markets and has earned the right of passage in offering its customer an alternative viable option to conventional banking activities.

Name one thing you would like to see change in the world of Islamic finance?
Better integration with the Western and Asian financial markets.

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).