Board Member
Jordan Dubai Islamic Bank
Total years of experience :40 years, 0 Months
Member of the executive committee and Risk management committee.
Define and establish the strategy of the bank and work toward strengthening its foothold in the local regional and international financial markets.
RJA consultant Services Company
CEO
Established in 2012
RJA is management consultancy company established in Dubai under DMCC to provide corporates in GCC with management and financial solution. provide highly specialized training sessions and work shops to enhance skills and productivity
Head of Treasury & Capital Markets
Tourist Development & Investment Co. (TDIC)
2009 - 2011
My main responsiblities were to make sure that the company has enough cash to finance its projects. The task included:
o Cash management this includes develop strategies to meet funding requirements, and execute them, conduct cash flow forecast, and manage liquidity.
o Structure, lead and execute public as well as private placement borrowing transactions for the company. This included issuing debt istruments, borrow through syndicated loans, and get short term facilities from banks.
o Hedge different types of risks including foreign exchange and interest rates.
o Handle foreign exchange transactions for the Company's present and future purchases of arts in Streling and Euro currencies.
o Supervise all trade finance activities and provide directions on day to day transactions.
o Supervise the company's accounts movement reports.
o Monitor recievables and payables and review aging report.
o Expand client base, and enhance banking relationships.
o Communicate with regulatory authorities to ensure that all regulatory reporting requirements are complied with.
o Lead the rating process internally and work effectively with rating agencies such as Moody's S&P and FITCH to obtain credit rating for the company.
o Provide appropriate and adequate financial and analytical information to the top management to assist them in conducting a review of the key performance indicators.
o Make sure that all transactions conducted are in compliance with internal rules and regulations.
o Liaise with government entities, external auditors and rating agencies on matters pertaining to presentation and disclosure of financial statements, emerging financial reporting trends, impacts of proposed accounting standards etc. Provide accurate and timely information to internal auditors and compliance function as and when required.
General Manager Treasury & Investment Division
Member of all committees and chairman of Sukuk Committee
Bahrain Islamic Bank
2008 - 2009
Bahrain Islamic Bank is an Islamic bank operating maily domestically with no broanches and outside. The bank main activities were focused on medium size enterprise inside Bahrain, however, toward the end of 2007 the bank decided to hire me to establishe and managed multi-structure activities; that included revamping Treasury Department, and establishing three new departments: 1-Fund management Department, 2- Debt Capital Market Department, 3- Private Equity Department. Each department had specific tasks and initiatives to achieve profit targets in line with the Bank's business strategy.
In addition my responsibilities included, managing banks liquidity, develop strategies to meet funding requirements for the bank, and execute them, conduct cash flow forecast, and manage liquidity, foreign exchange trading positions, meet with industry contacts to build long term relationships with, and to identify and follow up potential transaction opportunities. Furthermore, conduct comprehensive analysis of financial markets, bank's products success, and competitors. Other responsibilities included:
o Originate and introduce deal ideas to potential acquirers and investors.
o Prepare pitch documents (including industry research) and actively participating in proposal teams.
o Developed long and medium term investment and financing strategy and submit investment proposals to the Board.
o Established treasury policies and procedures managed liquidity, hired sales force team, derived trading activities.
o Identify different types of potential risks and hedge strategies to ensure they do not adversely affect the bank investment exposure.
o Provide economic reports and interest rate forecasts to CEO and the Board.
Achievement
o In early May 2008, submitted proposal to the Board to liquidate all the Bank's GCC equity portfolio, real estate exposures, significantly reduce the Bank's lending, and to raise cash.
o In October 2008, I met with the Ministers of finance of the ASEAN countries in Dubai, the outcome was that Bahrain Islamic Bank mandated as a Lead Manager in the Sukuk issue for the Government of Indonesia. The size of the issue was US$ 1 Billion. This was the first time ever Bahrain Islamic Bank was involved in the sukuk primary market. The sukuk price appreciated by more than 15% in just 6 months, with a profit rate (coupon) of 9.75%, and combine return approximately 25% in 2009.
o In Feb. 2009, I submitted proposal to the Board to invest in the Saudi and Qatari equity markets with the main focus was on blue-chips company such as SABIC, Al Marai, and Industries Qatar. The size of the proposal was about US$ 100 million. Performance in March and April exceeded 48% on annualized return basis as the market made significant rebound.
o The CEO and Board members appreciated my monthly economic and financial markets report.
Managing Director Treasury and Capital Market Division
Unicorn Investment Bank
Responsibilities:
o Establishing fully-fledged treasury, and debt capital market origination platform that covered large and medium size corporate borrowers in the GCC. Furthermore, identify, evaluate, negotiate, and close lending transactions.
o Cash management this includes develop strategies to meet funding requirements, and execute them, conduct cash flow forecast, and manage liquidity.
o Evaluate different private equity investment opportunities and present my view to the Investment Committee which I am member in it, and vote for or against the investment.
o Lead the rating process internally and work effectively with rating agencies to obtain credit rating for the company.
o Meet with industry contacts and build long term relationships with clients, targets and other intermediaries.
o Originate and introduce deal ideas to potential acquirers and investors;
o Manage transactions to a successful completion; this involves preparation of business plans and information memorandum contacting buyers, assessing bids, reviewing and submitting valuation, financing structures and financial modeling.
o Scoping and managing the due diligence processes.
o In early 2007, in addition to my main responsibilities at Unicorn, I was appointed as an advisor to the General Manager and acting Treasurer for Dar Al Arkan Real Estate Development Company (DAAR) one of the largest real estate development company in Saudi Arabia. My main task was to manage DAAR liquidity, plan for current and expected projects financing, and establish the long-term financing strategy.
Established fully-fledged treasury, and debt capital market structuring and origination platforms to service large and medium size corporate borrowers in the GCC. Assess different types of risk and submitt proposals to the CEO on how to tackle these risks. Furthermore, identify, evaluate, negotiate, and close lending and private equity transactions. Manage transactions to a successful completion; this involves preparation of business plans and information memorandum contacting buyers, assessing bids, reviewing and submitting valuation, financing structures and financial modeling. Moreoverm scoping and managing the due diligence processes. In addition, supervise cash management, lead the rating process to obtain credit rating for Unicorn. Established, developed, and strengthen business relationships with regional and global financial institutions.
Head of Capital Markets
National Bank of Abu Dhabi
Member of the Bank's Investment Committee
1997- 2006
Responsible for establishing fully-fledged investment, trading, and debt capital market origination platform. Established fixed income and equity investment portfolio of US$ 1.5 billion, set policies and procedures, portfolio funding strategy, trading limits, and investment guidelines, and hedging strategies.
In addition, established capital market sales strategy, and lead trading team in fixed income products, FX, and commodity future contracts. Applied structured products concepts and techniques to help local borrower to lower their cost of borrowing (liability management) . Build strong client relationships and provide investment advisory services to high net worth individuals in Abu Dhabi.
Managed the investment and strategy of multi-assets short/ long fund, developed asset allocation based on macro-economic forecasts and expected performance of each asset class and individual asset. Furthermore, selected benchmark, and measured risks. Maintained regular review of the fund main components performance and risk associated with it.
Achievement
o Exceeded the annual target profits each year by 20% although the annual budget was constantly increased annually by 25% over the period between 2000 and 2006.
o Managed AAA rated fixed income and equity portfolio of USD 1.5 billion on funded basis through the repo market. The portfolio components were fixed income securities in both developed and emerging markets, with 35% allocated to equities, and 10% to commodities. The net average return (after deducting cost of funding) was 350 BP over USD 3 Month LIBOR after deducting funding cost.
o In October 1999 originated the first ever Dirham bond deal in UAE by convincing BMW, the German auto-maker Company, to tap the dirham bond market with an issue size of AED 350 million.
o In June 2000 originated the second Dirham bond issue for Abbey National with issue size of AED 400 million.
o In July 2001, I played major role in originating and launching the first Dirham bond deal for local borrowers -Emirates Airlines- with an issuing amount of AED 1.5 Billions. In 2002, I did the second bond deal for Emirates Airlines. NBAD and HSBC were the only mandated lead arrangers and book runners.
Head of Capital Market Department
Member of the Assest & Liabilities Committee
Abu Dhabi Investment Company
1995 - 1997
Responsible for establishing fully-fledged trading and investment platform which enabled the Company to generate excellent return over the years. Furthermore, established equity brokerage company to service local equity investors in the UAE stock market, established a portfolio of debt instruments funded through repo to generate stable return over time, put trading policy and investment guidelines, and designed investment products for high net worth individuals
Achievement
o Made significant changes in the type and style of business. As a result profits was increased significantly, and the company was able to strengthen its foothold in the regional and international markets.
o I managed to exceed the targeted profits each year by more than 25%.
o Established the Assets and Liability.
o Submitted proposal to establish brokerage company in Abu Dhabi.
Senior Investment Manager Treasury Department
Member of the Investment Committee
UAE Central Bank
1991 - 1994
Managed the UAE Central Bank foreign currency reserves in the fixed income and foreign exchange markets. Submitted macro-economic reports on the G7 countries with outlook on investment and performance under different interest rates and foreign exchange scenarios.
Achievement
o Total profit made during the period was over US$ 250 million.
o In 1993 I made significant contributions to the successful efforts of the Investment Committee members to revamp the UAE Central Bank Certificates of Deposits issuing program. The purpose was to establish a benchmark in the UAE money market, and to offer Banks operating in the UAE the opportunity to manage their short-term liquidity efficiently.
o The Governor assigned the responsibility to handle the issuing process and to invest the net proceed in the international financial markets to me. I introduced the program in different maturity structures and created repo market for it. The net proceed from the sale of CDs was invested in the international bond markets.
o In 1994 I was Member of the UAE Stock Market Establishment Committee which was formed to set the operational and legal frame-work for the UAE stock market. The members of the Committee were staff from the Ministry of Finance, Ministry of Economic Planning, and the UAE Central bank.
UAE Central Bank - Abu Dhabi
Mar. to April 1993
Course Subject: Financial Markets and Instruments.
Course summary: Present and future value, types of bonds and valuation, investment in financial markets, portfolio theory.
Duration of the course: One month.
Student attended: 45 of the Central Bank staff
Studying Material: Fabozi- Bonds
Course structure: Daily classes starts at 1pm to 3.00 pm.
Evaluation: Excellent appreciation. From the staff and the Givernor of the Central bank
Deputy Manager Trading Department
Kuwait International Investment Co
1987- 1991
Responsibilities included trading fixed income instruments on behalf of clients within set and approved guidelines in both bonds and equity linked securities such as convertible bonds. presented market outlook and methods to enhance returns on investments, trade derivatives and yield curve arbitrage, and enhance the return of the company portfolio through the repo market.
Debt capital market, securities trading, portfolio management
Assistant manager-Marketable Securities Department
Kuwait Foreign Trading Contracting & Investment Co.
1981- 1987
Responsibilities included trading fixed in come instruments for clients' portfolios such as Kuwait Investment Authority, Kuwait Fund, Arab Fund, and PISS within the set and approved guidelines. Implement tactical short term trading positions to enhance returns on investment, prepared interest rates outlook on major bond markets. In addition, led new bond issuing business which included initiating the terms and conditions, pricing, forming the syndicate group, work with lawyers on documentation, and liaison with local authorities.
Second - Teaching Experience
• DBA- Project Management. Expected graduation in March, 2013 Arab British Academy for Higher Education- London. UK (accredited & recognized by UK ministry of Education) • Master Degree Economics (MA)
University of Bridgeport Connecticut, USA Master Degree - Economics
University of Aleppo, Syria