Name: Based: |
Humphrey Percy CEO Bank of London and The Middle East London 56 British |
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Could you provide a brief journey of how you arrived where you are today? I have experience in building new functions and product areas, and managed start up businesses within international financial institutions as well as founding my own successful business in 2002. 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? Our new products are already gaining traction in the Islamic financial market and in 2010 we have launched among others our internet based premier deposit account, a foreign exchange technology platform and a floating rate Tawarruq product. What are the factors contributing to the success of your company? What are the obstacles faced in running your business today? • The need for more Islamic hedging and liquidity instruments and products and especially a highly rated benchmark government issue • The slow evolution of Islamic secondary and syndication markets Islamic finance is a relatively new industry and it needs to be recognized that time is needed to create global recognition and regulation, to fully develop sophisticated products and penetrate some markets such as insurance and wealth management. Where do you see the Islamic finance industry in, say, the next five years or so? From a geographical perspective, we would expect the UK to continue to play a leading role in Europe in Islamic finance but would welcome similar development in Islamic finance in France and Germany for example. The GCC banking industry is fragmented and changes to capital adequacy (BIS III) and liquidity regulation will very likely result in further consolidation so that banks can achieve critical mass. We also expect to see strong linkages with Asia over the next five years. Name one thing you would like to see change in the world of Islamic finance.
Arab Gambian Islamic Bank was incorporated under the Companies Act 1955. It commenced operations in January 1997, carrying on banking business in all its departments and branches in accordance with Shariah principles and practices with a view to making profit for its shareholders and depositors and to contribute to the socio-economic development of The Gambia. Visit www.agib.gm |