Unicorn seeks opportunities to acquire stakes in regional banks (Interview)

Referring to the global challenging environment for financial institutions, Majid Al Sayed Bader Al Refai, Founder, Managing Director and CEO, Unicorn Investment Bank, said: "Islamic banks have been somewhat insulated by their lack of direct exposure to the toxic assets that precipitated the financial crisis."

He said financial expansion cannot be decoupled from real economic growth in Islamic finance and urged Shariah-compliant banks to work with their conventional counterparts to build a more robust financial system.

With more than 20 years of experience in the banking industry, Al Refai has a wealth of experience in Islamic product development and has established several Islamic finance institutions throughout his career.