The Client
A global pioneer of Islamic financial services, operating mainly in the structuring, distribution, and management of Islamic investment products in the GCC.

Main challenges

• Regulatory changes
• Strong local and foreign competition
• Internal inertia

Approach
The project, which took place over a 8-month period, included an institutional assessment and an analysis of the sectors of activity of the company. Based on this understanding and of a study of the unfolding regulatory environment, CDS worked with the company’s Board and senior management to define a new business model for the company. Subsequently, CDS worked with around 120 of the company’s staff to optimize and formalize the operating modes for all core and support processes. All outcomes were translated into a comprehensive implementation program.

Impact: selected results

• Adaptation of the company’s business model to suit the new regulations while abiding by Islamic Shari’ah
• Establishment of new operating modes for Investment Banking (Corporate Finance, Sales & Trading) and Asset Management businesses
• Institutionalization at all levels
• Successful implementation of all actions, leading the company to obtain licensing from the Saudi Capital Markets Authority