Here at Hada DBank, we aim to be different from conventional banking. In fact, we are the First Digital Bank to fuse Islamic Banking Module with Blockchain Technology. Islamic Banking is not just for Muslims. It’s for everyone. It represents something – Transparency and Risk-sharing.
Start Mar 24, 2018
End May 24, 2018
CEO / CFO, CO-FOUNDER
PR & SPOKEPERSON
Prof. Emeritus Dr. Barjoyai Bardai
Dr. Barjoyai Bardai have been an academician since 1975. He retired early and entered into the private sectors in the Islamic Financial industry. He then specialised in venture capital financing. He is currently acting as Management Consultant and advisor to several organisations, assuming senior management posts in the setting up processes.
Ayad Almutairi has over 30 years of experience working in issues of strategy and regulations directly related to the Islamic Banking Industry. He worked as Head of the Banking Development Section at Saudi Central Bank (Saudi Arabian Monetary Agency) for approximately 12 years. Prior to that, He worked in the Investment Department with an international team managing the country's reserves and dealing with a multitude of financial instruments for 7 years.
Yousuf is currently the VP in Risk Management with Dubai Islamic Bank. Involving directly in implementations of financial and risk strategies for various banks, he has over 15 years of experience in which 10 years are in Islamic banking. This includes Planning, Designing & implementing an overall risk management process for the organizations and performs portfolio monitoring and Management. He is also responsible to lead, develop and manage the ICAAP and Basel III implementation projects plan and their reporting to Central Bank of Bahrain and Pakistan.
We aspire to be a ‘just’ organization in the financial industry. The financial crisis of 2007-2008 serves as a grim reminder how several irresponsible players can capsize an entire industry, putting millions in financial ruins. Islamic banking, due to its transparency, profit and loss sharing concept, will minimize market manipulation and eliminate another domino crash. Islamic Banks are less risky and more resilient than their counterparts, due to the aspects of their bank capital requirements and mobilisation of deposits. As opposed to Conventional Banking, depositors to Islamic Banks are entitled to be informed about what the bank does with their money. They also have a say in where their money should be invested. Islamic banks also strive to avoid interest at all levels of financial transactions and promote risk-sharing between the lender and borrower. There are two basic principles in Islamic banking. One is the sharing of profit and loss; and two, significantly, the prohibition of the collection and payment of interest by lenders and investors. Collecting interest or "Riba" is not permitted under Islamic law. In the case of profit, both the bank and its customer share in a pre-agreed proportion. In the case of a loss, all financial losses will then be borne by the lender. In addition to this, Islamic bank cannot create debt without goods and services to back it (i.e. physical assets including machinery, equipment, and inventory). Hence savings, deposits and investments with our DBank will be backed by physical assets such as precious metals and gemstones.