Noor Bank Outlines Current Challenges and Future Prospects of Islamic Banking to Visiting Students from Paris Dauphine University

Dubai-UAE: 30 May, 2015 – Noor Bank hosted a group of Islamic Finance students from Paris Dauphine University for a second consecutive year and engaged them in lively discussions with the bank’s key executives about the future of Islamic banking. The seminar was a part of Paris Dauphine University’s two week roadshow to the Gulf, which included the UAE, Qatar and Bahrain.

In his introductory segment, Zakaria Karkouri, Head of Structured and Derivative Products, detailed Noor Bank’s history, activities and its large range of products and services (such as corporate banking, personal banking including credit card and treasury). Umer Malik, Senior Sales, then presented the history of Islamic finance, from its roots to the latest challenges and evolutions.

In his presentation, Mohamed Izzam, Shari’a Manager, explained the investment process the bank has to follow and the basic rules that need to be respected for Shari’a compliance. Following the talks, the visiting students were given the opportunity to ask questions about the bank's strategy and the prevailing industry challenges. The students also expressed interest in gaining insights into Noor Bank’s debut Sukuk issuance which had one of the lowest pricings in the UAE and was oversubscribed 4.3 times. The Sukuk had a good global response, generating strong interest from international investors abroad.

Commenting on the students’ visit, Amjad Naser, Head of Shari’a at Noor Bank, said: “Noor Bank is proud to have hosted the revered Paris Dauphine University for the second year in a row. The UAE region is renowned for its status as the hub of Islamic finance. As a leading Shari’a compliant bank, Noor Bank is keen to share insights on its innovative product offerings with the next generation. The interactive session also helped us articulate our aim to educate universities and colleges on the bank’s best practices.”

For his part, Merbouh Kader, Head of the Islamic Finance Executive Master, Paris Dauphine, said: “It was an honour to visit the Noor Bank offices.  It gave us a valuable opportunity to learn more about the practices in Islamic finance from a market leading bank in the region and how the institution leverages them in the face of both regional and global challenges.”