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New head of Islamic Financial Services for ABC International.

Byline: news@cpifinancial.net (Staff Writer)

Established in 1991, ABCIB is a wholly-owned subsidiary of Arab Banking Arab Banking Corporation was incorporated as a Bahrain joint stock company on January 17, 1980 through a special decree by the Amir of Bahrain. It obtained an offshore banking unit licence from the Bahrain Monetary Agency on April 7, 1980, and began operations in the same month.  Corporation. Faisal comes to ABCIB from Ajman Bank, UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. , where he was Deputy Chief Executive Officer and Head of Business, responsible for retail, corporate, investments and treasury. Prior to that, he was CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Asian Finance Bank, which he established in Malaysia, and expanded into Indonesia. He also set up the first Islamic shipping fund (the $300 million Safeena) in Malaysia and SE Asia.

Faisal commented, "The Arab Banking Corporation has been at the forefront of the growth of Islamic finance globally, so I am very pleased to be joining the Islamic Finance team in ABCIB at a time when both London and other European countries are looking to grow their Islamic banking  Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics.  activities. London is of course working to establish itself as the European hub for Islamic banking and finance and this is where ABCIB can continue to play a major role."

ABCIB has been marketing Shari'ah-compliant solutions to the Muslim community in the UK since 1999, including Real Estate, Leasing and Islamic home finance through its alburaq retail finance business. alburaq launched the first UK Shari'ah-compliant Capital Protected Savings plan in 2008.

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Publication:CPI Financial
Date:Apr 28, 2009
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