Islamic Finance and Banking by Riyazi Farook

2008/03/20

Noor Islamic Bank Riyazi Farook

Noor Islamic Bank has set out ambitious plans to tap the enormous potential of the global Islamic finance market by targeting markets in Europe, Asia and North America, as well as those closer to home.

"We aim to be the largest Islamic bank within five years," Noor Islamic Bank Group CEO, Hussain Al Qemzi told Reuters in an interview. "Acquisitions will be the main way because there is no time to grow organically," he added.

Qemzi said that the bank will initially focus on the largest Islamic countries, such as Turkey, Egypt, Pakistan and Indonesia. However, the bank is also expected to make inroads into western countries with significant Muslim populations, such as the UK, which has an Islamic community of about 1.8 million, and is probably the leading Islamic financial centre outside of the established territories in the Middle East and Asia.

Noor Bank, which is 25% owned by Dubai Group, a unit of Dubai Holding, and 25% owned by Investment Corporation of Dubai (more)

About Me

Name: Riyazi Farook

Location: Sri Lanka

I hold a Masters Degree in Marketing Management from Middlesex University London, a Professional Diploma in Marketing from the prestigious and largest marketing body in the world, The Chartered Institute of Marketing (CIM-UK). I also possess a Post Graduate Diploma in Islamic Banking and Insurance from the Institute of Islamic Banking and Insurance (IIBI-UK). I was the youngest Sri Lankan to bring the country’s Islamic Banking and Finance industry to international level with number of publications in the leading periodicals which have circulation around the world. More significantly, I was the only Sri Lankan to take part in the inaugural “Global Islamic Finance Intelligence Summit 2007” held in London was organised by the Financial Times UK. I had undergone world class training and development with leading consultancy companies such as The Mersey Partnership and Leathwaite in the UK. I also have experience in working with leading Sri Lankan consultants. I'm a member of CIM-UK also an Associate Fellow of the IIBI-UK. Currently employed by The King Fahd University of Petroleum & Minerals- Saudi Arabia (KFUPM)