After 13 years with Standard Chartered, Hussain Abdulla Isa in December took the role of head of Islamic banking at the bank. Islamic finance is an increasingly hot area to work in the Middle East, with Bahrain and Dubai battling it out for the position as a leading regional centre. However, as he outlines, it's more important to be a good banker than being the font of all knowledge on Shariah compliance issues.
He talks with eFinancialCareers about what he looks for when hiring, how Bahrain stacks up against Dubai as a financial center, and why his father is his biggest inspiration.
How did you break into Islamic finance? What advice would you give to others looking to do so?I've been working for Standard Chartered for over 13 years now, and have held a range of positions heading up sales and credit cards in Bahrain for the bank during this period. I think it's this depth of experience, rather than knowledge of the Islamic sector per se, that has helped me in my career, and I can apply the skills gained during this time to my current position.
I would say that if someone has aspirations to work in Islamic banking, it certainly helps to have official certification, and there are plenty of local universities and accredited institutions in Bahrain who offer this. However, it's not a prerequisite and knowledge of Shariah products is often secondary to a thorough understanding of the banking sector.
How do you view the challenge from Dubai, which is pitching itself as a centre for Islamic finance?Both Bahrain and Dubai have a history of offering Islamic finance activities that stretches back to the 1970s. Dubai is undoubtedly up and coming, and the recent moves to attract more Islamic finance activity are indicative of this. However, Bahrain's regulatory regime, which allows businesses to operate throughout the kingdom rather than in a 'free zone', combined with the fact that it's home to a number of organisations like the Accounting and Auditing Organisation for Islamic Financial Institutions, help to give it the edge.
What are the challenges finding Bahraini talent to work in the local banking sector?Other Gulf centres are still struggling to attract local talent to their banking sectors, but I believe Bahrain is the only market in the region where it's not an issue. At Standard Chartered, for instance, 70% of our workforce in the kingdom are Bahraini, and local candidates are present in a number of top management positions throughout the banking sector.
Imagine I want to work for you, what would make you hire me?The knowledge and skills required for the job are something of a hygiene factor, and the biggest thing I look to judge is personality and presentation. Someone's lifestyle, their desire and passion to grow and advance themselves are arguably just as important when determining whether someone has the right stuff.
What would you advise people to do before stepping into an interview with you?Research the role and Standard Chartered's priorities in Islamic finance. For example, we're looking to expand into the SME sector and offer new mortgage products and any applicants should be able to research this. Most of our hires come from the local market, particularly at a graduate level, and are switched on when it comes to interview preparation.
What's a surefire way not to get hired by you?If you can't convince me that you have the determination and willingness to learn what the job requires.
What do you do to relax?My passion is riding, and I spend most weekends doing this.
Who do you most admire?My father was a huge inspiration for me growing up, and has continued to be throughout my career. His mother died when he was eight years old and his father when he was 10, so he had to be self-sufficient. He took various and numerous jobs such as in coffee shops and cleaning cars where he then developed himself into a very successful business man. His determination and work ethic have always been a model for me to follow.
© eFinancialCareers 2013
