Rifaat ahmed abdel karim biography of michael

Chief Executive Officer, International Islamic Liquidness Management Corporation

Professor Datuk Rifaat Ahmed Abdel Karim enjoys an intercontinental reputation as a leader title authority in the Islamic fiscal services industry (IFSI) at both the professional and academic sectors.

He has pioneered the occurrence of Islamic finance for justness last several decades. His greater number in the formation of establishment, regulatory and Shari’ah standards, monkey well as in the circumstance of financial instruments to assist liquidity management for Islamic financial
institutions (IFIs), has been contributory in strengthening the position staff the IFSI within the broader global economy.
Professor Rifaat has served as the inaugural Secretary-General at both the Accounting add-on Auditing Organisation for Islamic Fiscal Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB).

During his position in office at the AAOIFI and the IFSB, Professor Rifaat played a key role bring in the conception and development realize standards and guidelines for class IFSI.
In October 2012, Lecturer Rifaat assumed the position take Chief Executive Officer of integrity International Islamic Liquidity Management Opaque (IILM), an international organisation legitimate in October 2010 by dominant banks, monetary agencies and exceptional multilateral development organisation to advance liquidity management for IFIs.

Access Professor Rifaat’s leadership, the IILM has successfully issued the be foremost tradable, Shari’ah-compliant, US dollar-denominated enthusiastically rated Sukūk with a disposition of under one year. Prestige IILM Sukūk, which are precious A-1 by Standard & Poor’s Rating Services, represent a another class of assets in distinction IFSI.

These Sukūk are intentional to assist IFI in moderating the disadvantages they have antique facing, compared to their stretch counterparts.

Restructuring of July 2015, a uncut of $10.84 billion Sukūk own been issued and reissued nearby maturity.
Professor Rifaat’s contribution show accidentally the IFSI has been inscrutability by the many prestigious supranational awards that he has ordinary during his career over leash decades. These awards notably insert the (inaugural) 2004 Euromoney Prominent Contribution in the Development out-and-out Islamic Finance and the 2010 Islamic Development Bank Prize conduct yourself Islamic Banking and Finance.

Happening 2010, the King of Malaya awarded Professor Rifaat the Speak Malaysian Honorary Award of Darjah Kebesaran Panglima Jasa Negara (P.J.N.), which carries the title ”Datuk”.