Deloitte appoints Global Islamic Finance Industry group leader |
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DeloitteDeloitte
today announced the appointment of Daud Vicary Abdullah as Deloitte Global Leader of the Islamic Finance Industry group. In this role, Vicary Abdullah will oversee the overall strategy and development of DeloitteDeloitte's Global Islamic Finance Industry group, and provide guidance to member firms on governments, corporations, and financial institutions related to the Islamic Finance sector. "The Islamic Finance industry is rapidly expanding, which presents opportunities for companies in various businesses around the world," says Vicary Abdullah. "DeloitteDeloitte member firms have formidable experience and delivery capabilities in all service lines around Islamic Finance."
In addition to assurance, enterprise risk services (ERS), tax and consulting services for Islamic Institutions, DeloitteDeloitte member firms advise clients on strategy, M&A transactions (including the provision of Sharia'a due diligence) and assist in corporate finance services for Sharia'a compliant structures.
DeloitteDeloitte member firm clients may also seek the advice of the Sharia'a scholars who work with member firm professionals across all service lines to address specific client needs and promote the efficient delivery of value-added solutions within a Sharia'a compliant framework.
DeloitteDeloitte in the Middle East is delivering Islamic Finance services by means of the expertise of its specialized professionals across all service lines and who are located throughout the region, in coordination with and under the leadership of its Islamic Finance Knowledge Center (IFKC) based in Bahrain. The IFKC capitalizes on the Firm's expertise in this field and growing opportunities in the Islamic finance market. Currently around 60% of the global Islamic Finance assets (estimated by the IMF at US$ 260 billion in total) are shared by Middle Eastern countries, while 80% of the top 50 Islamic banks worldwide are located in the Middle East region.
Joe el Fadl, partner in charge for the financial services industry (FSI) at DeloitteDeloitte in the Middle East commented: "The experience of Islamic institutions has proven so far to be positive, successful and rewarding. Islamic banks experienced over the past 5 years a double digit annual growth of 15 to 20%. Islamic banks demonstrated resilience and ability to manage and overcome the adverse consequences of the global financial crisis".
Vicary Abdullah has more than 35 years experience within the finance and consulting industry, working in Asia, Europe, Latin America and the Middle East. Since 2002, he has focused exclusively on Islamic Finance, and had executive roles at major Islamic and Asian banks.
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About Deloitte
DeloitteDeloitte refers to one or more of DeloitteDeloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of DeloitteDeloitte Touche Tohmatsu and its member firms.
DeloitteDeloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than140 countries, DeloitteDeloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. DeloitteDeloitte's more than 168,000 professionals are committed to becoming the standard of excellence.
About DeloitteDeloitte & Touche (M.E.):
DeloitteDeloitte & Touche (M.E.) is a member firm of DeloitteDeloitte Touche Tohmatsu (DTT) with uninterrupted presence for over 80 years in the Middle East region. DeloitteDeloitte & Touche (M.E.) is among the region's leading professional services firms, providing audit, tax, consulting, and financial advisory services through 26 offices in 15 countries with over 2,000 partners, directors and staff. DeloitteDeloitte & Touche (M. E.) is a 2009 Hewitt Best Employer in the Middle East.
© Press Release 2009
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