Could you provide a brief journey of how you arrived where you are today?
My father once advised me on the value of combining skills. Moving on from Oxford with a first in Physics to qualify as a chartered accountant, I then worked for two bulge-bracket investment banks in London in quantitative finance roles within derivatives.

However, having long wanted to pursue graduate studies, I decided on a two-year career break to gain a PhD in Game Theory, modeling profit sharing relationships applicable to Mudarabah. I then moved to the Gulf to work in risk and treasury positions, mostly for Islamic private equity businesses, before my current role.

What does your role involve?
As COO, I am responsible for ensuring that the bank is financially positioned to transact its business, and operationally equipped to do so effectively and efficiently.

The role is broad, necessitating wide experience and knowledge, but importantly also an ability to apply reason and common sense to new realities on a daily basis.

What is your greatest achievement to date?
For me this means the most difficult objective delivered. My academic objectives were always high and achieving them was immensely satisfying.

But taking a new investment bank from nothing to full operational status in record time would have to take first place given the diversity of challenges overcome.

Which of your products/services deliver the best results?
In my view this means investment products yielding the best risk-adjusted returns to investors.

Particular mention goes to fund products with low upfront fee levels, a meaningful carry structure, and well-diversified underlying assets thoroughly researched to identify early exit opportunities. Fund structures are also attractive given ease of alignment with Shariah requirements.

What are the strengths of your business?
Being a niche investment bank operating in a highly competitive marketplace, I would have to say that having talented individuals bringing a blend of skills and the flexibility required to deal with a fast changing financial and economic landscape.

What are the factors contributing to the success of your company?
I expect that strong financial backing and an extensive network of relationships used for sourcing both deals and client investment will be the defining criteria bringing success. Financial management insight into the business model adaptation required to position the bank to endure chill financial winds will also make the difference.

What are the obstacles faced in running your business today?
One of the main challenges for a firm running several lines of business in the current crisis is to understand which asset classes could first be expected to see the return of investor confidence.

Another obstacle is managing deal flow given the finite balance sheet size available to park transactions, and a desire to see time invested in due diligence identifying the best deals not going to waste.

Where do you see the Islamic finance industry in, say, the next five years?
I don’t think “told-you-so’s” citing prohibition in Islamic finance of products blamed for the financial crisis will see a consequent increase in conventional banks converting any time soon to Islamic banks, or opening up “Islamic windows”.

The problem is not with the products themselves but with risk management safeguards around their application.

Islamic banking practitioners should however take heed and work to improve much of what they do, including a more active involvement in the development of Shariah compliant derivatives.

Other more macro developments for the industry, I believe, are the emergence of London as an increasingly important hub serving Islamic finance solutions to the rest of Europe, as well as greater levels of standardization, particularly in documentation.

Name one thing you would like to see change in the world of Islamic finance?
Interested parties, including academics and Islamic finance practitioners, tend to work apart from each other when developing new concepts. Solo effort, as motivated by the economic benefits of product development, is expected.

However, cliques (sometimes drawn along cultural lines but not always) are self-serving to the exclusion of many. Positive related changes would see greater sharing of information and the establishment of a high quality peer-reviewed Islamic finance and banking journal affiliated with an internationally respected university.