He has more than 25 years experience in investments and corporate finance, in both the government and private sectors, and currently holds key board positions in a number of companies. He is a frequent guest speaker at leading international conferences and a key contributor for the development of the Islamic capital market. He holds a BS degree from Kuwait University and has completed the Executive Finance program of INSEAD, France.
Could you provide a brief journey of how you arrived where you are today?
In September 2007, I was called by our top management in
Kuwait Finance House (
KFH) to set up a specialized wholly-owned
Sukuk house.
In 2008, I was appointed as the CEO. Prior to this, I headed the international investment department of
KFH since 2004.
I started my career with the conventional investment and finance industry with
Kuwait Investment Authority, the sovereign wealth management arm of the Kuwaiti government, in 1984.
What does your role involve?
I have two distinct roles — vice-chairman and CEO. As CEO, my role is to set up ‘challenging objectives’ for my team.
I run the company with the highest ethical practice and governance standard, and project the company as the best managed institution.
This requires selecting people with a balanced skill set of conventional banking techniques and Islamic finance knowledge. As vice-chairman and board member, I ensure the smooth running of the company.
What is your greatest achievement to date?
On the personal front, it is sharing this life with my wife and children.
Career-wise, leading a fully dedicated professional team who have helped me place Liquidity House as one of the leading international
Sukuk houses over a short period of time.
Which of your products/services deliver the best results?
All of our products and services are well accepted in the market. However, in terms of specific asset classes,
Sukuk is also well accepted in the conventional and Islamic capital markets.
What are the strengths of your business?
Being in the Islamic finance arena is the main source of my business strength. A strong leadership team right from the establishment of the company, has helped me build an organization with a unique identity and culture. The Liquidity House family members are enablers and differentiators in the Islamic debt capital market and strength of the company.
What are the factors contributing to the success of your company?
Our foundation is based on the Islamic banking spirit of our parent company, KFH. Liquidity House came into operations in the midst of the worldwide financial crises.
However, with combined experience of the leadership team from
KFH, we were able to exceed market and shareholders, expectations.
What are the obstacles faced in running your business today?
The key obstacle facing my business is same as facing any other business. There were the credit crises of 2007-2009, followed by the sovereign debt crises in the Dubai market, East European market and political crises in the Middle East.
Hence, in general the volatility of extreme events makes the world business environment very unpredictable. This in turn has affected investors’ confidence and creates obstacles in running a business.
Where do you see the Islamic finance industry in the next five years?
The global Islamic finance sector is predicted to be the world’s fastest growing financial sector with an estimated potential of US$4 trillion.
The
Sukuk market has turned out to be an important driver to raise finance under the Islamic mode of financing.
Sukuk as an alternate source of financing will grow as complimentary to conventional finance in the global financial market.
Name one thing you would like to see change in the world of Islamic finance.
I wish to see the Sukuk market playing the role of a real complimentary source of financing in the global financial market, where the sovereign wealth funds of the world hold at least 35% of Islamic assets and actively involved in the Islamic debt capital market activity.