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Name: Based: |
Ijlal Ahmed Alvi
Chief executive officer 46 Pakistani |
Could you provide a brief journey of how you arrived where you are today? During the last seven years I have been involved in Islamic syndications and securitization, the latest assignment being to develop the International Islamic Financial Market (IIFM) as per its mandate, which is to develop, create and promote the Islamic capital and short-term financial market.
What does your role involve? What is your greatest achievement to date? The task at hand is huge and that is why our implementation phase will come out with two to three services in the area of self-regulatory standardization and guidelines, Islamic management system and research and development.
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 in, say, the next five years? I see more opportunities and hope that IIFM, as an infrastructure institution, will play its role as a catalyst and developer of transparent and efficient systems in Islamic as well as non-Islamic jurisdictions.
Name one thing you would like to see change in the world of Islamic finance?
The International Islamic Financial Market (IIFM) is an international infrastructure institution, founded through the collective effort of the Central Banks and monetary agencies of Bahrain, Brunei, Indonesia, Malaysia, Sudan and the Islamic Development Bank based in Saudi Arabia. It was formed in accordance with the agreement of establishment, which was signed by the founding members on the 13th November 2001. IIFM commenced its operation under an Amiri Decree No 23-2002 dated the 11th August 2002, as a non-profit institution headquartered in the Kingdom of Bahrain. IIFM’s task lies in the development of the global primary Islamic capital and short-term financial market and, subsequently, creation of a secondary market for Islamic financial instruments. IIFM is also focused on the advancement and standardization of Islamic financial instrument structures and contracts, infrastructure and product development, issuance of guidelines and enhancing the co-operative framework among Islamic financial institutions. |