JP Morgan has appointed industry veteran Mr Hussein Hassan to a newly-created role of global head of its Islamic finance unit as the investment bank seeks to expand its Shariah-compliant business.
"As we have observed a significant increase in the demand for sharia-compliant banking products, we have decided to invest in high-calibre people, systems and technology," Mr Sjoerd Leenart, Senior Country Officer for the Middle East and North Africa at JP Morgan says.
Mr Hassan was previously Global Head of Islamic Structuring at UBS and also served a similar role at Deutsche Bank. Before embarking on his banking career, he was teaching Islamic law at several universities.
He will be based in Dubai and report to Mr Abdulaziz Al Helaissi, Head of JP Morgan's Global Corporate Banking in the Middle East and North Africa and Senior Country Officer for Saudi Arabia.