Daud Vicary Abdullah, President and CEO of the International Centre for Education of Islamic Finance (also known as the Global University of Islamic Finance) discusses China, AIIB, the suitability of Islamic Finance as a means of financing mega-projects, and whether Islamic Finance is simply a niche or a genuine alternative to conventional banking.
“We cannot keep printing money; we cannot keep relying on debt. And I think if you got most bankers hands on hearts, to say ‘is the current financial system fit for purpose?’ They would probably have some reservations as to whether or not it was, and that they need a Plan B. And Islamic Finance clearly is growing in credibility as a viable Plan B.”
(Daud Vicary Abdullah)
(Length: 16 minutes 15 seconds)
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About Daud Vicary Abdullah
Daud Vicary Abdullah is the President and Chief Executive Officer of INCEIF, The Global University of Islamic Finance.
He has been in the finance and consulting industry for over 41 years, with significant experience in Asia, Europe, Latin America and the Middle East. Since 2002 he has focused exclusively on Islamic finance. Prior to INCEIF, he was the Global Islamic Finance Leader with Deloitte.
He sits on the Board of Governors of both the International Academy of Financial Management and the Institute of Enterprise Risk Practitioners.
Daud was the first Managing Director of Hong Leong Islamic Bank, where under his guidance the Group successfully transformed an Islamic banking window into a full-fledged Islamic banking subsidiary. During his time at Hong Leong he was also closely involved in the planning for and launch of Hong Leong Tokio Marine Takaful, where he was a Board member. Following that, Daud became Chief Operating Officer at Asian Finance Bank, a start-up Islamic bank, where he was responsible for establishing the infrastructure to support the business lines, opened new branches and established a representative office in Jakarta.
Daud has co-authored the book “Islamic Finance: Why It Makes Sense”, published by Marshall Cavendish. He is also a frequent speaker and commentator on matters relating to Islamic finance.