Mohamed Adnan Ishrat Rauff, better known as Ishrat to his friends and family, is a prodigy in Islamic finance. He has spent the past 23 years in the financial sector and is now the Managing Director/CEO of two companies. He has traveled across many continents and shares his experiences with Crescentrating.
I have been in the financial sector for most of my working career. The past 13 years have been in the area of Islamic Finance. Initially, I had stints in conventional banking as well as stock broking. My undergraduate degree was in Civil Engineering, but I have never regretted the shift.
I am the Managing Director/CEO of SAIF Capital and Adl Capital, both in the Islamic Banking and Finance (IBF) industry. SAIF is an advisory arm whilst Adl is licensed by the Securities and Exchange Commission of Sri Lanka as an Investment Manager. Both commenced operations within a year of each other and are actively engaged in Private and Public equity, which are areas not traditionally associated with Islamic Banking in Sri Lanka. Thus, we have carved out a niche in this dynamic market.
We have built up an impressive array of clients in a short period. These include listed companies, licensed commercial banks, and large charities. We have also secured a license from the SEC and recently launched the first-ever open-ended Shariah-compliant fund in Sri Lanka. These have all taken place within a short time frame, Alhamdulillah.
It is still a very nascent industry but has tremendous potential for growth. It is interesting to note the large number of players that are now seeking to enter the industry. This was not the case at the very inception, where there were seemingly insurmountable obstacles that the incumbents had to face. Alhamdulillah, the market has evolved since then, and the regulatory framework is also much more conducive. We should be grateful that the regulators had the foresight to bring about change even though Sri Lanka is a country with a Muslim population of less than 10%.
On a personal note, I cannot be more excited and passionate about the industry I am involved in. Alhamdulillah, the most satisfying feature is that it is an industry deemed "Halal," thus making one's earnings also Halal.
It is getting easier with the industry becoming increasingly cognizant of the need to address the specific needs of a Muslim traveler. However, there is still a long way to go. I am confident that the need to remain competitive would ensure that the hospitality industry would cater more closely to the needs of the Muslim traveler, thus ensuring that we have less to complain about with time.
I have always said it is conceptually brilliant and a dire need for today's Halal-conscious traveler.
Yes, I am. I must admit that I have yet to use it for my journeys, though. However, I can see myself using it more in the future.
Alhamdulillah, I have been very blessed to have visited many countries. My travels have extended to all the continents, from the USA and Mexico to Australia. I have visited the UK, countries in mainland Europe, several countries in the Middle East, including many GCC countries, Egypt and Mauritius (in Africa), our neighbors, Maldives, India, and Pakistan, and numerous visits to South East Asia extending to the Philippines.
Malaysia. Mainly because of the ease with which one could find Halal food and the value for money proposition - comfortable hotels at reasonable prices, low transportation costs, and reasonably-priced food.
I still have trouble finding Halal food. The USA and Australia are places that I feel could improve their Halal-friendly facilities, although my experience dates back several years. Prayer rooms in all airports, malls, and public areas and at least some choice of Halal food outlets would be a good start.
I prefer traveling by flight since travel times are shorter.
Inspiring closing words from a respected individual - Ishrat Rauff, we thank you for everything you're contributing to the Islamic Finance industry, and we wish you all the best in the future.
