FSA London:
Hari has a remarkable reputation in Financial Services, both from a
regulatory and industry perspective. Her career began at the Financial
Services Authority in London where she was part of a dynamic team responsible
for creating the integrated regulatory body. Hari was instrumental in
drafting aspects of the FSA Handbook on Rules and Guidance.
Goldman Sachs, London:
Subsequently, she joined leading investment bank, Goldman Sachs in London
where she was responsible for implementing and monitoring FSA systems
and controls on behalf of the bank. After Goldman Sachs, Hari joined
a boutique compliance consultancy in London as a Senior Consultant advising
the industry on all aspects of the FSA’s requirements, including
seeking FSA Authorisations, delivering training, and undertaking inspections.
DFSA, Dubai International Financial Centre:
In 2003 and during the inception of the Dubai International Financial
Centre, Hari joined the Dubai Financial Services Authority, the independent
regulatory authority for the Dubai International Financial Centre. Hari
was instrumental in developing parts of the common law system and the
DFSA regulations, including the internal processes which apply within
the DIFC. Hari was also responsible for creating the regulatory framework
for Islamic Finance for the DFSA and has successfully created the ‘Shari’a
Systems’ regulatory model for the regulation of Islamic Firms.
Hari was also the key driver in initiating foreign access of foreign Islamic products into Malaysia under the Mutual Recognition Arrangement conducive to Malaysia’s liberalization programme.
She was recently appointed as the sole advisor by US FSVC to advise the Central banking agency of a secular Islamic jurisdiction on the introduction of Islamic Financial products.
Praesidium LLP, Dubai
In 2007 Hari left the DFSA and together with two strategic partners,
established Praesidium LLP, a regulatory and client advisory firm. In
a short period of time Praesidium has gained tremendous momentum and
is highly regarded amongst some of the most established global banks
and Fortune 500 companies.
Qualifications
LLB with Honors. LLM from UCL London. Diploma in
Legal Practice from College of Law, London.
Publications
- Introduction to Islamic Finance. Business Guide to Switzerland. January 2008.
- Examining the Prerequisites for Becoming the Hub for Islamic Finance.
- Author of ‘Supervisory Implications of Islamic Finance in a Regulatory Environment.’ Islamic Finance the Regulatory Challenge. (Wiley Publication)
- Introduction to Islamic Finance. The Central Banking Journal.
- She contributed to the IDB/IFSB 10 Year Master plan for the Islamic Financial Services Industry.
Public Speaking
Frequent speaker and invited expert at numerous regional and international
conferences. Some examples are:
- Shari’a Authenticity and its impact on Financial Stability- A New perspective on Shari’a Compliance. Due to be presented at Harvard Law School. Boston. April 2008.
- Islamic Finance- The role of the regulator and regulated. IOSCO EMC Working Group Meetings. Dubai. 4th December 2007.
- Overview of the Islamic Banking industry. IFSB Event hosted by the Hong Kong Monetary Authority. HK. 15th January 2008.
- IIFF Islamic Finance Forum, Dubai. An Introduction to the Regulatory Environment of Islamic Finance in the DIFC.
- IIFF Islamic Finance Forum Dubai 2007, on Islamic Finance in Pursuit of Women’s Wealth.
- IFSB Summit, Luxembourg. Regulatory Environment for Islamic Finance.
Memberships
- She is a member of the DIFC Islamic Finance Advisory Council [IFAC].
- She is a member of the IFSB Working Group on Basel II, Pillar II and III in respect of Islamic Finance.