5th Anniversary
IslamicFinance Celebrates 5 Years! 2004 - 2009
On 5 May 2009, IslamicFinance celebrated its 5th anniversary – a most notable achievement particularly in the current economic climate when businesses globally are having to re-invent themselves and adapt to survive. This was a significant milestone for the innovative company which was the first to offer Muslim clients the opportunity of purchasing Shari'ah compliant vehicle asset finance through WesBank, and for holding company, FirstRand Bank Limited, which was the first mainstream bank to offer Islamic approved products.
The success IslamicFinance has achieved is remarkable considering it started with just one product, a conservative turnover projection and two enthusiastic visionaries who embraced the opportunity of building a niche bank offering a cross section of financial products.
As the client and asset base grew, customer demand drove the development of new offerings and today IslamicFinance markets 12 products including cheque accounts, youth, personal and business accounts, residential property finance (fixed up to 20 years), commercial property finance , vehicle and asset finance and estate planning and wills. Two new products, trade finance and private banking will be launched before the end of the year.
Historically part of a business unit within WesBank, IslamicFinance has matured into a wholly established niche product house within the FirstRand Group, and although it is proud of its proven viability and new autonomy, it will remain rooted in its parent company for future nurturing and support.
CEO, Ebi Patel attributes the business success first and foremost to the grace and blessing of the Almighty coupled with the dedication and guidance of the Shari'ah Board whose vision and insights have been central to the businesses success and development.
IslamicFinance thanks our loyal customers, the Shari'ah Board, partners, staff members, and everyone who has contributed to our success. A special thank you to Mr Brian Riley (CEO of WesBank) and Mr Yunus Akoo (Chairman of Pure Capital) for their instrumental role in the formation of IslamicFinance as well as Mr Ebi Patel (CEO of IslamicFinance) for steering and growing the business into the success it is today. Inshallah, may the road ahead be paved with greater achievements and may the Almighty guide us in all our endeavours.
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Staff IslamicFinance May 2009 |
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Mr Riaz Laher First Vehicle & Asset Finance Customer |
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Mr Imraan Cassim First Employee IslamicFinance |
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Mr Ebi Patel First CEO IslamicFinance |
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Faki Dawood & Son's First Large Corporate Asset Finance Customer |
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Bakers Transport First Large Corporate Vehicle Finance Customer |
