JEDDAH: Saudi banks are doing a good job in the field of Shariah-compliant financing and are creating more excitement in the world about the industry, says SEDCO Capital CEO Hasan S. AlJabri.
SEDCO Capital has worked with some of the leading global managers to develop Shariah-compliant investments that are as sophisticated and at often times more rewarding than conventional investments due to its low leverage, he says.
"The virtue of Islamic finance is the creation of real value in the economy thus creating real growth and jobs," he told Khalil Hanware of Arab News in an exclusive interview.
"You are not taking advantage of a situation where you make money because somebody lost that money. Here you are making money, the employer made money, the employee made money and the economy grows. That is Shariah investment," says AlJabri who has been a major player in investment banking and corporate finance in the Middle East and North African (MENA) region for more than 27 years holding leading positions in two of the region's most influential financial institutions -- NCB Group
The Shariah-compliant financing is spreading globally. What role do you see for Saudi banks?
Saudi banks have done a good job and created more excitement in the world about this industry. Of course, commercial banks are geographically confined to Saudi Arabia or to this part of the world.
Investment companies are more international in their investments. SEDCO Capital , as a Sharia-compliant global investor, has worked with some of the leading global managers to develop Sharia compliant investments that are as sophisticated and at often times more rewarding than conventional investments due to its low leverage.
(Zawya / 10 Dec 2012)
Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com