Omar A. Ali
Encyclopedia
Omar Abdi Ali is a Somali
Somali people
Somalis are an ethnic group located in the Horn of Africa, also known as the Somali Peninsula. The overwhelming majority of Somalis speak the Somali language, which is part of the Cushitic branch of the Afro-Asiatic language family...

 entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...

, accountant
Accountant
An accountant is a practitioner of accountancy or accounting , which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.The Big Four auditors are the largest...

, financial consultant, philanthropist
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...

, and a leading specialist on Islamic finance. From 1986 to 1999, Omar was CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...

 of Dar al-Maal al-Islami Trust
DMI Trust
Dar al-Maal al-Islami Trust , founded in 1981, is a leading Islamic financial institution with affiliates on four continents and assets under management of over $3.6 billion USD, operating in accordance with Zakat principles of Islamic banking...

 (DMI Trust), a Middle East
Middle East
The Middle East is a region that encompasses Western Asia and Northern Africa. It is often used as a synonym for Near East, in opposition to Far East...

ern financial and banking group, which under his management increased it assets from $1.6 billion USD to $4.0 billion USD. He is currently the chairman and founder of the multinational
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...

 real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...

 corporation
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...

 Integrated Property Investments Limited and its sister company Quadron Investments.

Biography

Omar graduated in 1964 as a certified accountant
Accountant
An accountant is a practitioner of accountancy or accounting , which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.The Big Four auditors are the largest...

 from the Leeds College of Commerce
Leeds Metropolitan University
Leeds Metropolitan University is a British University with three campuses. Two are situated in Leeds, West Yorkshire, England while the third is situated in Bhopal, India...

 in the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...

. He returned to Somalia
Somalia
Somalia , officially the Somali Republic and formerly known as the Somali Democratic Republic under Socialist rule, is a country located in the Horn of Africa. Since the outbreak of the Somali Civil War in 1991 there has been no central government control over most of the country's territory...

, where he joined the Ministry of Finance and became a Deputy Accountant General. He also assumed the role of Director of Finance in the African Development Bank Group
African Development Bank
The African Development Bank Group is a development bank established in 1964 with the intention of promoting economic and social development in Africa...

, where he took part in transforming the pilot project into a multi-regional project.

Career

From 1974 to 1983, Omar would take up positions in the Gulf States
Arab states of the Persian Gulf
"Arab states of the Persian Gulf" or "Arab Persian Gulf states" or "Persian Gulf Arab states" or "Arabic Persian Gulf states" or "Arab States of The Gulf", are terms that refer to the six Arab states of Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain and Oman, bordering the Persian Gulf....

 and Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...

 as a financial consultant. In 1983, he became CEO of the Islamic financial institution
Institution
An institution is any structure or mechanism of social order and cooperation governing the behavior of a set of individuals within a given human community...

 the DMI Trust
DMI Trust
Dar al-Maal al-Islami Trust , founded in 1981, is a leading Islamic financial institution with affiliates on four continents and assets under management of over $3.6 billion USD, operating in accordance with Zakat principles of Islamic banking...

 based in Geneva
Geneva
Geneva In the national languages of Switzerland the city is known as Genf , Ginevra and Genevra is the second-most-populous city in Switzerland and is the most populous city of Romandie, the French-speaking part of Switzerland...

, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....

. Under his tenure, DMI became a leading Islamic Financial Institution and its assets increased from $1.6 billion USD to $4 billion USD, with Omar managing a worldwide staff of 1,400 employees in three continents. He became Vice-President of the Bahrain
Bahrain
' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...

i Faisal Private Bank, and established their most profitable branches in Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...

, Switzerland and New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...

 in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...

. In 2009, Omar together with his business partner Suleiman A. Dualeh entered an agreement with Shelter Afrique that will see their corporation Integrated Property Investments Ltd take on an ambitious housing project worth $624 million USD in Dar es Salaam
Dar es Salaam
Dar es Salaam , formerly Mzizima, is the largest city in Tanzania. It is also the country's richest city and a regionally important economic centre. Dar es Salaam is actually an administrative province within Tanzania, and consists of three local government areas or administrative districts: ...

, Tanzania
Tanzania
The United Republic of Tanzania is a country in East Africa bordered by Kenya and Uganda to the north, Rwanda, Burundi, and the Democratic Republic of the Congo to the west, and Zambia, Malawi, and Mozambique to the south. The country's eastern borders lie on the Indian Ocean.Tanzania is a state...

 known as the Bahari Beach satellite town.

Education

  • Certified Accountant from the Leeds College of Commerce
    Leeds Metropolitan University
    Leeds Metropolitan University is a British University with three campuses. Two are situated in Leeds, West Yorkshire, England while the third is situated in Bhopal, India...

  • Fellow of the Association of Chartered Certified Accountants
    Chartered Certified Accountant
    Chartered Certified Accountant was historically seen as a British qualified accountant designation awarded by the Association of Chartered Certified Accountants . However, although ACCA is UK based, it is a global body for professional accountants with 147,000 qualified members and 424,000...

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