I arrived in Sydney, Australia from Lebanon with my parents in 1970. In 2002, I joined Clayton Utz as a partner in the financial services group, which is now one of the leading financial services teams.
As the team leader, I am required to be aware of the latest developments in Islamic finance globally and represent the interests of my firm in our engagement with Australian governments, industry bodies, as well as participate in trade delegations to and from Australia. I am also involved in the law reform process in relation to Islamic finance and investments.
What is your greatest achievement to date?
On a personal front, my greatest achievement is my family. On a professional front, my greatest achievement is to be and remain at the forefront of developments in the Australian legal market. When I started practice in tax and investment funds, the Australian funds management industry was in its infancy. It is now the largest sector of the Australian economy and the fourth largest funds management market in the world.
Which of your products/services deliver the best results?
Our focus is on our clients. The difference with our firm is that we are easy to work with and we try to make it easier for our clients to run their businesses.
What are the strengths of your business?
Our people. We make sure we have the best team in each of the different areas of law that our clients need to run their businesses. This requires a commitment to hiring the best people and training them.
What are the factors contributing to the success of your company?
Our people are energetic and competitive. We are constantly repositioning our practices as fast as our clients are entering new markets and developing new products. A good example is Islamic finance and investments. Australian banks and companies need to diversify their sources of funding as they are too heavily reliant on the US, Europe and China. Islamic finance is a means of accessing capital from the Middle East and Asia. As a result, we have repositioned our practice to build the expertise to assist our clients to access this capital in a Shariah compliant way.
What are the obstacles faced in running your business today?
As the Islamic finance market in Australia is in its infancy, the greatest obstacle is the transaction experience in the Australian market, which has its own unique tax and regulatory laws.
Where do you see the Islamic finance industry in the next five years?
Blossoming. The financial crisis demonstrated the value of asset-based transactions that generate real economic wealth for the local and global community.
Name one thing you would like to see change in the world of Islamic finance.
We should embrace diversity in all its forms but with diversity comes many challenges.