Islamic Finance and Banking Advisory Board
The IFBA Board consists of a number of notable people from a range of banking and financial backgrounds who are able to advise on a range of aspects of the financial work that CIFLAC works on, the board includes the following members:
Daud Vicary Abdullah has been in the financial services industry for almost 41 years, with significant experience in Asia, Europe, Latin America and the Middle East. He has set-up and managed two Islamic banks. Prior to that, he was the Global Islamic Finance Leader with Deloitte.
Currently, he is President & CEO of INCEIF – The Global University of Islamic Finance.
Daud holds an Economic and Social History Honours degree from the University of Bristol in England.
Professor Siraj Sait is the Director of the Centre for Islamic Finance, Law and Communities (CIFLAC) at the School of Business and Law, University of East London. A graduate of Universities of Madras, Harvard and London, he is a well known human rights lawyer and development expert with experience of working with the UN, governments and industry. His publications on Islamic law were highly ranked for impact in the UK Research Excellence Framework 2014.
Richard de Belder is a partner in London with the international law firm Dentons and handles the global co-ordination of its Islamic finance practice.
Since the mid 1990s Richard has worked with leading Shari’ah scholars on an extensive range of Islamic financings. He spent over twenty years in the Middle East (the UAE and Oman) and was previously the Managing Partner of Dentons’ Abu Dhabi office. Richard continues to maintain strong ties with the region.
In 2013 he was one of seven non-ministerial members of the UK Government’s Islamic Finance Task Force and is a member of the Advisory Board of UEL’s Islamic finance programme.
Shabir is the Chairman of DCD Group. His background is in Finance and Banking, Commercial Real Estate and Venture Capital.
Shabir is the Deputy Chairman of Al Baraka Bank South Africa and a Founder-Director of BankIslami (PAK). Over the pas decade, he was a founder-director of The Islamic Bank of Britain plc and ex Chairman of European Islamic Investment Bank plc. He has also served on the Government’s Ethnic Minority Task Force, Asia Task Force and the Islamic Finance Task Force.
On the not-for-profit side, Shabir is the Chairman of the HRH Charity MOSAIC, Chair of Governors of The Westminster Academy, Champion of Three Faiths Forum and ex chair for the YPO-LBS London Business School ‘Growing Your Business’ Programme. He has acted as an Advisor to Baroness Scotland as Trade envoy to South Africa and is a Champion for the Youth EDV Council, End Domestic Violence Campaign. He is also a regular contributor and sponsor of the Blueprint for Better Business initiative founded by Cardinal Vincent Nichols and a sponsor of the Woolf Institute, Cambridge.
Shabir was awarded a CBE in recognition of his services to both business and education in 2013, as well as for his philanthropic support of charitable causes. In 2014 he received the Excellence in Enterprise award, presented by The Prime Minister at the Muslim News Awards.
Shaykh Haytham Tamim’s extensive expertise spans over 30 years across the main Islamic jurisprudence schools of thought through highly advanced classical and religious texts. Studying with the foremost scholars in their expertise, he holds some of the highest Ijazahs (certificates).
Teaching since the age of 17, he was senior lecturer of Islamic transactions and comparative jurisprudence at the Islamic University of Beirut. Shaykh Haytham continues to teach, winning the 2015 BISCA award for Outstanding Contribution to Education and Teaching.
He supervised many investment funds, in Ukraine, Gibraltar, Libya and Europe.. He set up the first editing and publishing house for ancient manuscripts in Lebanon, verified over 20 books due to his accreditation and currently runs his own consultancy in Islamic Finance and Charing the Utrujj foundation.
Stella Cox is Managing Director of DDCAP and its wholly owned subsidiaries DD&Co Limited and DDGI Limited. Stella and her team are responsible for DDCAP’s Islamic financial sector clients and market activities. DD&Co is a leading provider of asset facilitation services to the Islamic wholesale markets. DDGI has invested, for its own account, in a number of Islamic financial services initiatives and was a founder shareholder in Islamic Bank of Britain (now Al Rayan Bank).
Previously she was a Director of Dresdner Kleinwort Benson Limited (“KB”) where she had responsibility for Middle Eastern institutional relationships and product development for KB’s Islamic clients. Stella’s team managed assets aggregating over US$2bn and extended over US$250mn of finance to their clients through Sharia’a compliant structures. Whilst with the Bank, Stella was involved in structuring The Islamic Fund, the first Sharia’a compliant global equity product, launched in 1986. She was also a Director of the Al Meezan Commodity Fund plc, a joint venture initiative with an Islamic Bank that invested in non-ferrous metals traded on the London Metal Exchange.
From 2007-2009 Stella served as an Independent Non-Executive Director of Gatehouse Bank, a UK Islamic investment bank.
On 13th March 2013, the UK Government launched the first Islamic Finance Task Force. The ministerial led Task Force was established to refocus on Islamic Finance and the UK proposition. In addition to the 4 Ministers, Stella was one of a small group of non-ministerial industry experts within the Task Force and acted as practitioner lead for the regulatory workstream. With support from the Task Force, the UK Government announced plans at the World Islamic Economic Forum in October 2013 in London to launch an inaugural sovereign Sukuk in the near future, culminating in the successful £200mn issuance in June 2014. Subsequently, Stella has been appointed Chair of the Islamic Finance Market Advisory Group recently established by TheCityUK.
Stella is a Fellow of the Institute of Islamic Banking and Insurance in the United Kingdom and has served on its Board of Governors within the Islamic Banking Group. Previously, Stella was a member of HM Treasury Islamic Finance Experts Group, where she was part of the Market Standardisation sub-group. Stella was also a member of the Working Group established by the Central Bank of Bahrain (formerly the Bahrain Monetary Authority) with the purpose of developing procedures and documentation for Islamic commodity trading and she assisted the DIFC Islamic Advisory Committee with its work on selected strategic development initiatives. Stella serves as a member of the Islamic Financial Services Board Money Market Task Force on Markets and Instruments for Sharia’a Compliant Liquidity Management and represents DDCAP on the Market and Product Development Committee (MPDC) of the International Islamic Financial Market.
In December 2008, Stella was awarded for ‘Outstanding Contribution to Islamic Finance in the UK’ at the IREF Summit.
Sultan Choudhury is Chief Executive Officer (CEO) and Director at Al Rayan Bank PLC, formerly known as Islamic Bank of Britain (IBB). The Bank’s longest-serving employee, Mr Choudhury joined the Bank when it was formed in 2004.
Since then Mr Choudhury has set up Al Rayan Bank’s Head Office operations and Branch Network. He has also led the development and implementation of its full product range and service delivery channels. As a result, Al Rayan Bank now offers the largest range of Islamic retail financial products in the UK and has attracted over 50,000 customers.
Mr Choudhury currently sits on the Employer Panel for the CISI Islamic Finance Qualification.