Mr. Razaak Busari joined the Cayman Islands Monetary Authority (CIMA) in the capacity of Deputy Head, Insurance Supervision Division on 22 June 2015.
He possess over 15 years of financial services experience, most of which has been as a Regulator (both Supervision and Authorisation). He also spent some time at one of the leading banks in the United Kingdom (UK).
Mr. Busari served as an Associate Director at the Qatar Financial Centre Regulatory Authority from 2006 to 2014, regulating/supervising a portfolio of financial institutions from both a conduct-of- business and prudential viewpoint. He was also a Governor on the Board of Doha College.
Prior to that, he was a Senior Associate with the Financial Services Authority of the United Kingdom from 1999 to 2006, supervising financial services institutions.
He has a Post-Graduate Diploma in Islamic Banking and Insurance from the Institute of Islamic Banking & Insurance (IIBI), United Kingdom, and is an Associate Fellow of the IIBI. Mr. Busari also holds a Level 7 Diploma in Strategic Management and Leadership from the Chartered Management Institute, UK (CMI). He is also a Fellow of the CMI (FCMI). In addition, he is a Certified Anti-Money Laundering Specialist (CAMS), and earned the International Compliance Association’s International Diploma in Compliance. He also has professional qualifications in financial planning and mortgage advice.
He was educated at the University of North London, UK, where he was awarded a Bachelor of Laws (Hon) degree in 1997, and at the University of Ibadan, Nigeria, where he earned a Bachelor of Arts (Hon) degree in English in 1988. Mr. Busari also holds a Master of Business Administration degree from the University of Leicester, UK.
He is the author of "Moving with the Times: A Case for Enhanced Regulation of Islamic Banks", published in 'Opportunities in Islamic Finance - Unconventional Answers to the Credit Crisis’ by CPI Financial Books in September 2011.