Islamic Banking Watch

eddy888
Badges: 0
#1
Report Thread starter 10 years ago
#1
Kind of curious just seen 'hsbc amanah' grad recruitment site and got me interested in islamic banking. Does anyone know any other grad recruitment schemes specifically designed for islam/middle east?

Ed.
0
reply
President_Ben
Badges: 13
#2
Report 10 years ago
#2
UBS Private Wealth has some interest in the area, along with HSBC, they're vying for the ME money that is willing to go beyond local and frequently inadequate financial services. But they do advertise specifically for it at grad level. Most of the European banks in particular, are looking into the area.

(The performance of ME wealth since they got back in 73 has been atrocious)

I'd generally steer clear of the area, I'm not persuaded by it by any means, even though from a trading perspective, the quality of theoretical arbs is really quite pretty. I'm quite happy to say that I think of most Islamic finance as a shambles - it makes the cost of being Muslim quite high relative to being non-Muslim. People are actually getting ripped right off for their faith.
reply
love2learn
Badges: 2
Rep:
?
#3
Report 10 years ago
#3
It's an interesting area at the moment due to the rise of the Middle East as a financial centre, and obviously traditional lending conventions go against certain principles. Given the amount of capital in sovereign wealth funds, a lot of Banks are seeing this as an emerging area. As far as I'm aware, HSBC is the only bank that offers a graduate scheme specifically into this area. I think other banks do do Islamic finance but more on an ad-hoc basis and as such do not have specific recruitment programmes, but you could still possibly gain exposure to this area if you expressed such an interest.

Also, some of the Dubai based banks specialise in Islamic financing, so beyond the BBs, looking at some boutiques may be another way in.

However, I'm with Pres Ben on this one, but for the reason that the principles are so different (contradictory perhaps) to conventional practices that if you wanted to go back it might be quite tricky.
0
reply
Mos Def
Badges: 17
Rep:
?
#4
Report 10 years ago
#4
(Original post by love2learn)
It's an interesting area at the moment due to the rise of the Middle East as a financial centre, and obviously traditional lending conventions go against certain principles. Given the amount of capital in sovereign wealth funds, a lot of Banks are seeing this as an emerging area. As far as I'm aware, HSBC is the only bank that offers a graduate scheme specifically into this area. I think other banks do do Islamic finance but more on an ad-hoc basis and as such do not have specific recruitment programmes, but you could still possibly gain exposure to this area if you expressed such an interest.

Also, some of the Dubai based banks specialise in Islamic financing, so beyond the BBs, looking at some boutiques may be another way in.


However, I'm with Pres Ben on this one, but for the reason that the principles are so different (contradictory perhaps) to conventional practices that if you wanted to go back it might be quite tricky.
I am pretty sure that one of the prerequisites for working in said boutiques is to know fluent Arabic, and if its not OP's mother tongue, then good luck in learning it.
0
reply
love2learn
Badges: 2
Rep:
?
#5
Report 10 years ago
#5
(Original post by Mos Def)
I am pretty sure that one of the prerequisites for working in said boutiques is to know fluent Arabic, and if its not OP's mother tongue, then good luck in learning it.
fair enough, but it's a similar issue in the BBs. It would be like covering French clients and not speaking French. At any kind of senior level you'd be likely to have a language barrier. (While the business side would probably be conducted in English, Arabic would probably be used for the more relationship side).
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Have you registered to vote?

Yes! (83)
39.15%
No - but I will (10)
4.72%
No - I don't want to (14)
6.6%
No - I can't vote (<18, not in UK, etc) (105)
49.53%

Watched Threads

View All