Islamic Financial Services

Home to some of the UAE’s most prominent Islamic banks and takaful operators, Abu Dhabi has long been a regional centre for Islamic financial services. Global Islamic banking assets are forecast to surpass the $2trn mark by the end of 2014, and Abu Dhabi’s sharia-compliant financers are well positioned to capitalise on this expansion, although a competitive market and the lingering effects of the 2008-09 global economic crisis remain challenges. Potential for takaful growth in Abu Dhabi and the wider UAE is strong, underwritten by high levels of disposable income and the low insurance penetration. This chapter contains an interview with Tirad M Mahmoud, CEO, Abu Dhabi Islamic Bank.