Summary: Ali Omer Ibrahim Farah, General Manager of Faisal Islamic Bank, Sudan
What distinguishes your corporate banking services from those of other banks-why would a client choose FIBS?
Faisal Islamic Bank, Sudan uses the slogan 'We are the pioneers', in that FIBS was established in 1978 as the first commercial Islamic bank in Sudan and the second in the world. Since then, the bank occupied a senior position among the banks operating in Sudan.
There are many features that distinguish FIBS from the other banks on the continent. First of all, FIBS strongly supports the community development programmes in line with its strategic vision. Accordingly, the bank originated a special department to offer optimal corporate banking services. For example, the Bank offersanelectronic salary service for free to corporate staff of more than one hundred corporations from different sectors, since the bank has the largest number of ATMs operating inside Sudan which connect to other banking systems in other countries. The Bank's strategy is to contribute to the development of the country through providing excellent corporate banking, and I think we are participating strongly in developing corporate banking throughout the banking system in general.
How do you merge Shari'ah- compliant principles with business needs to produce effective corporate banking products?
The innovative approach applied by FIBS assures that all of the bank's operations and investments are entirely consistent with Shari'ah principles; this approach was applied by establishing the world's first Shari'ah Supervisory Board, for the purpose of granting Shari'ah advice and to make sure that the bank's products, services and activities are compatible with Islamic law. Also, FIBS created the first Islamic insurance company in the world in 1979. Thus, we would proudly say that FIBS originated the first integrated Islamic banking system in the world.
In which sectors of your services have you seen the fastest growth in demand over the past few years? Do you see this shifting in the future?
The fastest growth rate in demand over the last few years in FIBS finance activities, besides corporate finance, was in microfinance and the social development sector finance-the Bank has had a unique experience in this field since it was established, in line with its policy and belief in the importance of corporate social responsibility. This growth rate reflects the Bank's effective contribution to providing society's needs and creating small projects for the benefit of the community.
What growth is planned for Faisal Islamic Bank in the year ahead?
Our plans for the near future are built on the grounds of enhancing the financial capabilities of the Bank to increase its paid-up capital, in addition to the continuous improvement of the Bank's performance in terms of its commitment to providing a broad range of integrated banking solutions to meet growing customers' needs. This commitment is reflected in a form of unique banking products and services in order to exceed our customers' expectations, especially our present and potential corporate customers.
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|Publication:||Islamic Business & Finance|
|Article Type:||Company overview|
|Date:||Dec 10, 2014|
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