Interview gif
MOVING THE ISLAMIC FINANCE INDUSTRY FORWARD,
interview with Anouar Adham, Head of the Asset Management Division at Qatar Islamic Bank (UK)
Anouar Adham is the Head of Asset Man- agement for Qatar Islamic Bank in the UK. Anouar has extensive experience of working with international banks in Europe, South East Asia and the Middle East. His experi- ence includes investment, finance, develop- ment, asset management and advisory for HNWI (High Net Worth Individuals).
He was formerly with Qatar Islamic Bank as a senior banker, and was involved in real estate projects, industrial development and corporate advisory services. Anouar, a Char- tered Financial Analyst (CFA), has a Masters degree in Finance from the University of Clermont-Ferrand in France and holds the Islamic Finance Qualification.
What does your job role entail? I lead, manage and develop a team of pro- fessionals to develop and distribute Shariah- compliant investment products.
What are your thoughts about the future of Islamic finance within the UK? We can clearly say that London is the Islamic financial hub of Europe with several Islamic banks operating in the UK. We are seeing new entrants in the market which demon- strates that the UK continues to attract for- eign investment in the Islamic finance sec- tor. However, Islamic finance in the UK has difficulties in competing in the retail market, as we have seen some failure in the retail space over the last couple of years. Over the long-term, the industry will have to be com- petitive for retail investors if Islamic finance wants to succeed and offer a real alternative to customers in Europe. The UK Government also has an important role to play in promot- ing Islamic finance as a credible alternative, unfortunately the UK cancelled what would have been the first sale of Islamic bonds by a Western federal government and since the German Sukuk (Saxony-Anhalt Sukuk), noth- ing else has been issued.
The asset man- agement sector is a long-term
business and that is one of the main reasons why it was neglected by the Islamic finance indus- try initially. Indeed, it takes time to gain inves- tors’ trust and build up a strong track record
2012 April Global Islamic Finance 37
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