Financial Services

 

Financial services organisations are striving to grow and enhance shareholder value. The winners will be companies that can turn challenges into opportunities to build stronger customer relationships; improve process efficiency; unlock talent; use improved risk management processes to deliver more sustainable returns; and use new regulatory demands, such as Sarbanes-Oxley, as a catalyst for strengthening the business and enhancing market confidence.

The PwC Middle East Financial Services Industry Group is a regional business advisory, audit and tax practice that can help your organisation turn challenges into opportunities. We provide audit, technical accounting, tax, actuarial regulatory, compliance, risk management, performance improvement, outsourcing, securities processing, payments, information risk and security, data quality, M&A and other services.

As the financial services industry continues to consolidate, our integrated knowledge helps us design and implement solutions that work.

 

 

Islamic Finance

Globally, Islamic Finance assets currently amount to approximately US$ 1.2 trillion and account for only 1.2% of total global banking assets, presently estimated to be in the region of US$ 94.7 trillion.  However, it is expected that the Islamic finance industry will more than double to US$ 2.6 trillion by 2017, thus potentially creating massive opportunities in this rapidly growing industry. The MENA and Asia will account for a large part of that growth.

The competitive environment for financial services in SAAAME (South America, Africa, Asia and Middle East) has dramatically changed as these regions are experiencing accelerated growth and increased intra-regional trade. We believe that Islamic Finance is ideally placed to take advantage of these trends; our analysis indicates that by 2030, more than 95% of the world’s Muslim population will be located in Asia and Africa.

Larger global forces are ensuring that Islamic Finance is here to stay and grow, particularly in view of the need to satisfy the rapidly increasing Islamic Financial services needs of the SAAAME region. The key question is how rapidly institutions adapt.

 

 

How PwC can help

PwC has a network of specialists who can help financial services organisations turn challenges into opportunities.

Our Islamic Finance practice stands at the forefront of Islamic finance and banking development. Our clients in the Islamic financial services sector include local, regional and international banks, Takaful (Islamic insurance) operators, real estate investment trusts, mutual funds and major regulators and regulatory bodies.

 

Contact us

Andre Rohayem
Middle East Actuarial Insurance Management Solutions Leader
Tel: +961 1 200 577
Email

Prathit Harish
Partner, Financial Services Consulting
Tel: +971 4 304 3776
Email

Madhukar Shenoy
Middle East FS Regulatory Leader
Tel: +973 1 711 8800
Email

Ashruff Jamall
Global Islamic Financial Services Leader
Tel: +971 (4) 304 3105
Email

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