Jobs Search

Ithmaar Bank is from a commercial standpoint interesting architectural because it provides Islamic finance. Ithmaar Bank was in the Kingdom of Bahrain in 1984, initially included under the name of Faysal Investment Bank of Bahrain EC (FIBEC).

In 2003, Shamil Bank, all assets and liabilities of FIBEC bought and changed the name to Ithmaar Bank.

The vision of the Bank is: "To run the benchmark for international investments> Bank from the Middle East, and ... one of the leading international Islamic Financial Services Group. (1)

The values of the Bank are: expertise, innovation, transparency, splendor and international orientation. Sophisitication is a value that is not often seen in the company. To these values could be added, the conquest of the eastern and western cultures.

The situation of Bahrain is important for understanding the success of this fast-growing bank button. Because the corporate video shows, Bahrainprovides access to the markets, attractive cost of doing business in the Middle East and the strength of the system which is adapted to international standards.

Is the Chairman of the Board of Directors, Khalid Abdulla-Janahi. The site shows only limited information about him:

"Mr. Janahi holds a degree in computer science and accounting at the University of Manchester, UK." (1)

About Michael P. Lee, CEO and member of the Board, we learn much more. Mr. Lee began hisInvestment banking career at Merrill Lynch in 1973. In 1992, Mr. Lee was a consultant on the Bahrain Ministry of Finance & Economics, providing strategic advice on the development and regulation of the Bahrain International Financial Center and investments. He has now lived in Bahrain for 16 years. Mr. Lee holds an MA (Honors) in Philosophy, Politics and Economics at the University of Oxford. (1)

The business model consists of:

- Investment Banking
- IslamicFinance
- Private Equity (recently Ithmaar Astana took place during the CIS Regional Energy Fund)
- Private Banking (wealth management, investment placement)
- Group Business Development (New Business Development for Ithmaar Bank and its subsidiaries and affiliates. Institutional and VIP client relationship management, intra-) group of compounds. And also a new fund was brought to the path: Latin American Real Estate Fund.
- Mergers & Acquisitions

Form of the brochure, however,We learn that this business model is not an integrated unit, but a collection of individual companies:

Bank of Bahrain and Kuwait BSC (BBK), Ithmaar Development Company (such as hotel development), First Leasing Bank (FLB), Solidarity Group (one of the largest Islamic insurance company in the world), Faisal Private Bank (FPB), Faysal Bank Limited ( FBL), Shamil Bank

As for the layman like me, you need a basic understanding of IslamicFinance, for example, about the kind of interest (such as the myth that a raising of interest rates is not allowed):

"Riba is a loan with the condition that the borrower to the lender back and borrowed more than better than quantity." (2)

And on the global knowledge, which is banned in Islamic countries of interest:

As the interest is Illegal

The definition of interest has already been as well that it is forbidden to mention. If we are to the Koran, we investigatecome across at least four places where Allah has mentioned interest.

The first is Surah Al-Baqarah Verse No.275

"Those who devour interest, no different than a stand is, Satan has driven to madness by his touch. That is because they say" Trade is like usury, "but Allah hath permitted trade and forbidden usury" (2)

How is this in the Islamic finance (commercial) to integrated (for me) is uncertain ...

career builder Job job job