LONDON: In a landmark ceremony at the historic House of Lords within Westminster Palace, Asim Khan, Saud Siddiqui and Syed Zahid Ali, co-founders of the Khalij Group, were awarded the prestigious Avicenna Medal.
Presented by His Highness Prince Philipp of Liechtenstein, with Princess Isabel in attendance, the honour recognizes their groundbreaking contributions to the field of ethical and sustainable finance.
The Avicenna Medal, named after the renowned Persian polymath who is considered the father of early modern medicine, is bestowed upon individuals whose extraordinary accomplishments have significantly advanced humanity and their respective fields. Launched by the late Tony Buzan, inventor of Mind Mapping and founder of the Brain Trust UK, the medal celebrates the spirit of intellectual curiosity and relentless pursuit of knowledge that Avicenna championed. Previous recipients include luminaries such as Dr. Manahel Thabet, Vice Chancellor LUMS Prof. Dr. Ikram Din Ujjan, Prince Marek and Princess Petrina Kasperski, Michael Gelb, astronaut Senator John Glenn, the world’s leading brain nutritionist Professor Michael Crawford, former World Chess Champion Garry Kasparov, inventor of Star Trek Gene Roddenberry, a leading scientist in Baroness Susan Greenfield, Humanitarian Ambassador Prince Mohsin Ali Khan of Hyderabad, rowing legend Sir Steve Redgrave CBE, and eight-times World Memory Champion Dominic O’Brien.
Prince Philipp is a prominent member of the Princely House of Liechtenstein, one of Europe’s oldest noble families dating back to 1136. As the son of the late Prince Franz Joseph II and the younger brother of the current reigning Prince Hans-Adam II, he has been instrumental in promoting excellence and innovation across various fields. After studying history and sociology at the Universities of Bonn and Basel, Prince Philipp embarked on a successful career in finance. He joined the board of directors of the LGT Group in 1981 and served as its chairman from 2001 to 2021. Prince Philipp steered LGT Group to become a global private banking and asset management powerhouse with over $340 billion USD in assets under management, impacting the financial landscape through his leadership. His involvement in presenting the Avicenna Medal highlights the importance of international collaboration and the recognition of global leaders who advance humanity.
The Avicenna Medal’s citation stated: “In recognition of their landmark contributions to Islamic finance through the Khalij Group, Asim Khan, Saud Siddiqui and Syed Zahid Ali are awarded the Avicenna Medal. Their innovative and sustainable financial products have expanded the horizons of ethical finance, blending traditional principles with modern financial needs. Their work epitomizes the fusion of tradition and innovation celebrated by the Avicenna Medal.”
Established in 2008, Khalij Group is a leading conglomerate specializing in Islamic financial services and capital markets. The firm addresses the complex needs of the Islamic financial industry, offering bespoke structured solutions across various asset classes, including real estate, infrastructure, energy, transportation, healthcare, and manufacturing. With assets under advisory exceeding USD 4.1 billion, Khalij Group acts as a Shari’a Advisor to numerous financial institutions, family offices, wealth managers, index providers, and corporations worldwide.
Asim Khan, the group’s Co-Founder and Chief Executive Officer, brings over three decades of distinguished experience in financial services across the Asian subcontinent, GCC, and Europe. His career includes pivotal roles at PwC, KPMG, and Deutsche Bank. For more than two decades, Khan has been at the forefront of Islamic finance, structuring a myriad of Islamic financial products and maintaining robust relationships with investors in Europe, GCC and Far East. His recent achievements include establishing multi-billion-dollar Sukuk programs and structuring Shari’a-compliant solutions for investment portfolios across diversified asset classes. Among other accolades, Khan is a recipient of “Global Islamic Finance Leadership Award for 2024” and his name is also included in the Power 100 list of most significant Pakistan origin professionals recognised globally for their impact, expertise and contribution.
Saud Siddiqui, a qualified accountant with over twenty years of experience in both conventional and Islamic financial services, specializes in Shari’a consulting and structuring engagements. His expertise encompasses mergers and acquisitions, compliance audits, risk management, and restructuring. Siddiqui has advised on the development of various Shari’a-compliant products, Islamic funds, issuance platforms, REITs, and structured products. He is currently part of the working group set up by AAOIFI for the Commodity Murabaha Governance Project and has served on committees for the conversion of conventional banks to Islamic banks in the GCC.
Expressing his gratitude, Asim Khan remarked, “We are deeply honoured to receive an award that bears the name of Avicenna. This recognition underscores our commitment to advancing Islamic finance and providing innovative solutions that align with Shari’a principles. We dedicate this award to our talented team and partners who have been instrumental in our journey.”
Saud Siddiqui added, “Receiving the Avicenna Medal is a testament to the hard work and dedication of everyone at Khalij Group. We will continue to strive for excellence and uphold the values that drive ethical and sustainable financial practices globally.”
The ceremony’s location at the House of Lords added to its grandeur, symbolizing the international significance of Khalij Group’s achievements. The presence of Princess Isabel and other distinguished guests bridged the worlds of finance, royalty, and global innovation, highlighting the far-reaching impact of ethical finance on global markets.
Under the leadership of Khan, Siddiqui and Ali, Khalij Group’s seasoned management team—boasting over 100 years of collective investment banking and consulting experience—continues to expand its global influence. The firm excels in structuring Shari’a-compliant financial instruments such as Sukuk, private equity, syndications, derivatives, structured notes, and funds. They maintain relationships with major international financial institutions, corporations, and family offices across Europe, the Middle East, and the Far East, distributing various Shari’a-compliant asset and wealth management products.
