Could you provide a brief journey of how you arrived where you are today?
After a twelve-year career in various technical and business leadership roles in corporate America, I started Zeus Capital Advisers (ZCA) in early 2007 to help US financial institutions, and financial regulators with Islamic finance strategy and consulting services. Our core focus has been to help banking institutions and other groups, develop US based retail banking presence.
What does your role involve?
As the managing partner, I am responsible for managing key client relationships and overseeing a team of 11 individuals to deliver client centric service engagements.
What is your greatest achievement to date?
Every client achievement is considered a great success for our team. In recent years, I am especially proud of our focus and leadership in the development of multi ethnic banking institutions in the US. The idea of bringing diverse immigrant communities together to deliver jointly owned community banks, has helped to bridge the gap between diverse Muslim communities in the US. For example, we were successful in bringing together the South Asian, Bosnian and Arab communities in one market to acquire a single bank, to offer both Shariah and non-Shariah compliant products and services. Independently, each individual group did not have the customer base and/or the skills to achieve regulatory approvals and to raise capital, but collectively, the group was able to strengthen the business plan.
Which of your products/services deliver the best results?
Our bank M&A offering, layered with Shariah products is our unique strength in the US market. We believe that a national brand of Muslim centric banks has the potential to support US$5 billion to US$10 billion in assets in seven years. Our program management solution, layered in with IF product and regulatory knowledge, has and will continue to deliver the best results for our clients.
Additionally, our general project management and project management office development services are well received in the GCC region. Large and complex projects in any industry can benefit from a comprehensive project management approach. This single activity, if continued throughout the project lifecycle can dramatically increase the probability of success. For some of the Family Office groups within the GCC region, the exponential growth in business activity and operations requires a more methodical approach towards project management. For such groups, our project management office development services are gaining traction.
What are the strengths of your business?
For any business to be successful, it must possess two key elements — process and human capital. As such, our program management approach, and our people contribute the two necessary elements to our and our client’s success. We believe that the solution is sometimes in the process, and therefore have created proprietary project management models to help assess project risks earlier in the cycle, allowing the team to actively engage in mitigation plans before the risk threatens project success.
What are the factors contributing to the success of your company?
Our approach toward talent management has served us well and is a key factor in our and our client’s success. I believe that individuals and teams ultimately build successful companies. At ZCA we spend a significant amount of time and capital in attracting, retaining and developing our employees. This appreciation for human capital is an essential part of our company DNA and culture. At ZCA, talent is rewarded, mentoring is required, and new ideas are welcomed.
What are the obstacles faced in running your business today?
As the Islamic finance industry evolves globally, it is critical for us, and others to stay relevant and allow for organic and paced growth to take hold.
Where do you see the Islamic finance industry in, say, the next five years or so?
The global Islamic finance industry will continue to grow in the coming years. The adoption of additional products and the spread of Islamic banks around the world will continue to increase the overall market size. The development of new markets is likely to be an area of focus for many existing players. Industry consolidation is also very likely. National and regional brands are likely to seek partners in global markets, ushering in a wave of mergers around the globe.
Name one thing you would like to see change in the world of Islamic finance.
I would love to see the development of Islamic finance focused VC groups or venture funds. In the Islamic finance industry, most of the innovation has come from large institutions, but moving forward, the industry must find methods to support entrepreneurs. The industry has many hurdles to overcome before achieving the same status as the western financial system. Work needs to be done on the development of technology, processes, education and IF marketing. For the global Islamic finance industry to evolve from a niche status, it must learn to tap into the global talent pool and support the development of new ideas.