Islamic Finance gif
bank participation. We at Gulf One Invest- ment Bank are also leading the way in the ethical investment arena that is not only in accordance with the Islamic principles but it also helps to address environmental con- cerns in the region. Our deep commitment to knowledge-based operations has also led the bank to establish Gulf One Lancaster Centre for Economic Research (GOLCER) in the United Kingdom to focus on Islamic finance as well as on economic and other financial issues in the Gulf region. GOLCER publishes a monthly Islamic finance bulletin that reviews and analyses key developments in the global Islamic finance industry which is acknowledged by a number of players in the industry including the Dubai-based Za- wya and the London-based Islamic Finance Information Service, an entity of the Euro Money publishing company.
anisms and instruments. Over a relatively short period of time, Gulf One succeeded in making our impact felt in the Islamic finance industry through the execution of a number of groundbreaking transactions. For one, Gulf One received international recognition for its role as the leading financial advisor to the pilgrimage airport terminal in Jeddah, Saudi Arabia, where Gulf One structured the first ever known Islamic Build Transfer Operate project finance transaction with in- ternational, local, and regional development
Noteworthy, Gulf One has zero leverage to its capital, SPVs and funds. We are into full means of profit and risk sharing though eq- uity investments. Therefore we really work hard to calculate the risk in very reliable and deep analysis manners to ensure high return and sustainable performance. Conse- quently, we managed, thanks to God and our professional work to achieve outstanding re- sults to our investments.
What advice would you give to those want- ing to enter your sector of expertise?
Islamic finance is a challenging industry not only in non-Muslim countries but also in the Islamic world and globally as well. Suc- ceeding in such a tough industry requires knowledge, patience, perseverance and in- novative solutions. New entrants to the sec- tor should be prepared to move ahead of the curve through financial engineering and innovation supportive of private equity and infrastructure project financing as opposed to real estate business and trade financing activities. The fact that the Islamic tranche in most project financing deals is currently less than one-third speaks volumes about ‘Islamicness’ of such projects. Moving be- yond this threshold is a desirable challenge to all Islamic finance transactions.”
Within your career, what changes have been made to the Islamic finance indus- try?
We at Gulf One were met with many challeng- es in innovating financial structures that are based on asset backed and fair valuations of these assets avoiding capitalism high leveraged financial instrument. I believe the future to Islamic finance will only be through advocacy and leadership by example in our operations, creative solutions. I do trust oth- er participants were able to change or adopt their practices, policies, through collabora- tion with Gulf One and understanding deeply our approaches to ethical investments.
2012 April Global Islamic Finance 27
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