Deloitte expands Islamic finance division

Daud Vicary Abdullah has joined Deloitte Touche Tohmatsu (DTT), as global leader of Islamic Finance Industry.

In his new role he will lead the global strategy and provide guidance to member firms on governments and businesses relating to the Islamic finance sector.

He has over 35 years experience in the finance industry working in Asia, Europe and Latin America. He has predominantly focused on Islamic finance and held executive roles at Islamic and Asian banks since 2002.

“The Islamic Finance industry is rapidly expanding, which presents opportunities for companies in various businesses around the world,” said Abdullah.

“Deloitte member firms have formidable experience and delivery capabilities in all service lines around Islamic Finance,” he added.

DTT provides Islamic institutions with internal and external audit, tax, and M&A transactions, including provisions of Sharia'a due diligence, advice.

Deloitte estimates 1% - 2% of worldwide financial assets are represented by Islamic finance.

Islamic finance is a mix of Islamic law and finance which is in keeping of the Muslim principles of their faith, including not paying interest.

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