New Deloitte Islamic Finance Knowledge Center launches in Bahrain

Omar Fahoum, Chairman and Chief Executive of Deloitte in the Middle East, said:

"Global Islamic Finance assets are estimated by the IMF (International Monetary Fund) to exceed $260bn and expected to grow to $1 trillion by 2016. Currently around 60% of those assets are shared by ME countries, while 80% of the top 50 Islamic banks worldwide are located in the Middle East region. The Middle East Center is part of a global Deloitte Islamic Finance network that supports our clients in the region with tailor-made solutions to conduct Islamic banking and finance transactions."

Deloitte's experienced professionals in audit, tax, consulting, risk and financial advisory throughout the Middle East region will continue to be directly responsible for delivery of Islamic Finance services to clients and will further be supported by the subject matter experts of the IFKC to enhance their offerings and value proposition.

Dr Hatim Tahir, has joined Deloitte as a director in the Islamic Finance Knowledge Center. He brings with him over 20 years of experience in Islamic finance research, higher education, consulting background and thought leadership. His experience spans many regions in the EMEA, including the UK, Africa and 8 years in the Gulf.

"Deloitte is pleased to welcome Dr. Hatim Tahir in his position as a director in the IFKC," said Joe el Fadl, partner in charge for the financial services industry (FSI) at Deloitte in the Middle East. "Huge benefits are expected to be reaped by our clients in terms of depth, strengthened expertise and value propositions we will be offering and our people through knowledge-sharing and training tailored promptly to the market needs."

"It is an honor for me to join Deloitte's Islamic Finance Knowledge Center in the Middle East," said Dr Hatim Tahir. "As a key financial services hub in the region, Bahrain is a natural base from which to launch Deloitte's IFKC. I look forward to work closely with Deloitte's people and its clients aiming to tap the vast opportunities offered by Islamic finance across the region."

In his role, Dr. Tahir will give technical support and practical expertise to leaders in governments, corporations, and financial institutions on matters related to the Islamic capital industry including investment asset classes, Islamic private equity, product structuring and financial engineering, regulations, risk and credit analysis models, as well as regulatory framework for listing and trading rules.

Dr Tahir holds a PhD in Banking and Finance from the University of London, and was formerly a Research Associate at the London School of Economics. He is currently a Visiting Fellow of the International Capital Markets Association (ICMA), Henley University of Reading, UK. Dr Tahir has extensive knowledge and experience in the Gulf financial markets and worked closely with regulatory bodies in financial education, applied research and advisory assignments. His recent applied research included the Gulf Financial Markets, and the Rise of Securitized Sukuk Instruments in the Gulf, and presented the latter at the Eighth Harvard University Forum on Islamic Finance.

Dr Tahir is a non-Executive Director at Prosperities Capital Partners LLP, an Islamic private equity and alternative investments advisory. Prior to that he worked for the Dubai International Financial Centre (DIFC) in a senior role and led a competency-based training and investor's education function for NASDAQ Dubai. He was a member of the Exchange's Business Development Committee which shaped the growth strategy in structured products, equity derivative market and Islamic capital market.