iHilal Financial Services plans to launch corporate solution to region's financial sector

In so doing, iHilal has also appointed a new Managing Director to handle its operations in the newly launched institutionally focused service.

iHilal Institutional is designed to provide Islamic investment options to commercial, investment, and private banks; asset management companies, brokerages, and independent financial advisers.

"Having successfully completed iHilal's retail services offering, the time has come to complement iHilal's Internet based services with a more face-to-face approach, providing Islamic financial solutions that cater to the institutional and high-networth individual investor," said Ramzi Abu Khadra, CEO of iHilal Financial Services.

"With the introduction of iHilal Institutional, iHilal intends to offer a complete portfolio of advanced Islamic financial services and products for the retail, high-net worth, and to the corporate sectors in the Middle East," added Abu Khadra.

iHilal's new strategic focus on providing corporate Islamic investment solutions will come as a natural response to the rapid developments in the Islamic financial investment industry, and as a necessary move to respond effectively to the increasing demand for advanced and credible Islamic financial products by the corporate financial sector in the Middle East.

"The Islamic financial industry is largely fragmented and decentralized. And the launch of iHilal Institutional would provide financial institutions in the region with access to a host of best-of-breed solutions and products that are developed by world-class financial companies," said Abdullah Najia, newly appointed Managing Director of iHilal Institutional.

iHilal Institutional will provide the corporate financial sector in the region with products developed by world-leading financial institutions in the UK and US markets. Advanced solutions offered for the corporate sector include Islamic mutual funds in the technology, telecommunication, construction, and pharmaceutical industries. Moreover, iHilal Institutional will provide North American, European, Asian, Latin, and GCC funds.

"With his world-class experience in running financial practices around the globe, Abdullah Najia has the talent and skills needed to present iHilal Institutional to the financial business community in the region," stated Abu Khadra.

Mr. Najia has more than 15 years experience in managing financial and investment corporate operations in the United States, United Kingdom, and the Gulf region. He held several executive positions in leading organizations, such as First National Bank throughout USA, American Express London, and Nomura International London, where he was Head of the Middle East, Africa, and Turkey operations.