Executive Director & Islamic Financial Services Leader
Ernst & Young
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Background
- Ashar is a Director with the Islamic Financial Services Group (IFSG).
- Joined Ernst & Young in 2009 and is based in Manama office
- Certified Public Accountant – AICPA (Missouri)
- Bachelors of Science (Honors) in Business Administration, USA
- Languages: English, Urdu
Skills
- Ashar has demonstrated business development capabilities especially within the financial sector
- Significant training, coaching and mentoring skills
- Strategic leadership skills
- Extensive knowledge in the Islamic finance industry and advised major Islamic institutions in the region
Professional Experience
- Ashar has 15 years of professional experience with Ernst & Young Bahrain, Central Bank of Bahrain and Islamic Capital Partners
- Led numerous engagements in the Middle East, Europe and South Asia on strategy development and operating model development for financial institutions including investment banks and asset managers.
- Part of senior leadership team to advise a leading Saudi business group on conceptualizing and setting up a US$ 100 million private equity institution
- Led the advisory team on setting up a US$ 100 million regional investment bank focusing on emerging market opportunities for a UAE business group
- Led advisory projects in the GCC to assist established and start-up financial institutions on launching new business initiatives, including Shari’a compliant mortgage finance, asset management, private equity, consumer banking, takaful and specialized investment services
- Assisted Islamic commercial and investment banks in the GCC on operational issues including business modeling, risk assessment, internal audit, operational reviews and development of MIS framework
- Strategy advisor on restructuring, turnaround and growth initiatives for banks and insurance companies
- Part of the leadership team to conceptualize and launch new Islamic banking and takaful initiatives in Bahrain
- Developed various business plans and coordinated implementation across business lines for Islamic commercial banks
- Developed and documented operational guidelines, investment policies, management information system and financial and regulatory platforms for Islamic commercial and investment banks
- Led successful sell side advisory mandates to place equity for Islamic and conventional banks
- Assisted a GCC central bank on structuring Islamic liquidity management scheme, deposit protection scheme, capital market infrastructure institution, retakaful business, talent development initiatives and prudential regulations for Islamic financial institution