Could you provide a brief journey of how you arrived where you are today?
It all came less than eight years ago, when I hung up my coat and decided to start my own corporation. It was from my keen understanding of the markets’ needs, and acknowledging the vast opportunities and potentials that lay untouched for the Arab financial markets. I wanted my financial institution “Global Investment House
” to meet the expectations of regional and international clients and to enhance the investment service industry in the region.
What does your role involve?
As the vice chairman & managing director for Global, my primary role is to co-ordinate, lead and work together with executive managers to set up investment strategies and formulate future plans for the company to reach optimal strategic growth in developing regional markets.
What is your greatest achievement to date?
My greatest achievement is seeing Global Investment House grow from US$50 million in 1998 to US$2.5 billion in market cap by the end of 2006.
Which of your products/services deliver the best results?
Global Investment House is a diversified company with multiple lines of businesses, diversified product range offering and geographically diversified operations. Therefore, it is difficult for us to point to a single product as the winner. However in the past two years, Assets Under Management (AUM) has reached US$7.2 billion as at end of 2006. Investment Banking and Private Equity lines of business have made significant contributions to our revenues and profitability.
What are the strengths of your business?
The company has been vigorous in developing the regional capital markets, as well as promoting investment opportunities to investors in the Arabian Gulf Peninsula through expert financial engineering. Global also provides investors with international and national opportunities while facilitating the investments by providing clients with services that target their individual needs. Global’s other strength is our research department- we have over 40 employees dedicated in research, to research the best locations or opportunities to invest, merge, or acquire.
What are the factors contributing to the success of your company?
Importantly I believe, the major success of the company should be credited to the teamwork of our staff members. All employees share the common goal to deliver the best quality and results, and strongly believe in and apply institutional standards and work ethics to their daily work routine.
What are the obstacles faced in running your business today?
The current obstacles Global is facing are governmental restrictions and limitations of economic and financial regulations in Kuwait; for example, the absence of an independent economic regulatory body (i.e. a security exchange commission) and a strong market maker.
Where do you see the Islamic finance industry, maybe in the next five years?
I see the Islamic finance industry growing by more than 20% as the players bring out new, innovative products and services. It is a young industry which continues to evolve and expand both financially and geographically. Moreover, the increased interest of the investors towards religion, the growing awareness of the industry and the demand for investing in accordance with Shariah principles on a global scale will act as a catalyst towards making the Islamic financial services industry a flourishing industry.
Name one thing you would like to see change in the world of Islamic finance?
I would like to see increased Islamic product offerings on par with conventional products for investors.
Global Investment House plays an important role in promoting investment opportunities in the Arabian Gulf Peninsula to international investors through expert financial engineering and providing investors with a diverse scope of international and national investment opportunities.