BACKSTORY: Amman Muhammad of FNB Islamic Banking

What was your first job?

I was an accounts clerk at an accounting firm in the Joburg city centre.

How much was your first pay cheque, and how did you spend it?

I received R400 for a very hard month’s work and spent the entire amount on two pairs of trousers and a jersey, which I needed because I didn’t have any suitable work clothes.

What is the one thing you wish somebody had told you when you were starting out?

“Don’t sweat the small stuff.” Experience teaches you that it’s all small stuff in any case. I have learnt that when you let go of your expectations, when you can accept life as it is, you are free. To hang on to every little thing and treat every little matter seriously, harms you; letting go is lightening up.

If you could fix one thing in South Africa, what would it be?

I would work towards a serious education reform process. This would be aimed specifically at improving the quality of education, particularly in impoverished regions, and would seek to provide equal opportunities for all. This would, in my opinion, drive societal reform, and economic empowerment would be a natural consequence.

What’s the most interesting thing about you that people don’t know?

Travelling to places of historical significance fuels my passion as an amateur historian. I love digesting the history and converting my travels into stories that I infuse into my many customer presentations.

What’s the best investment you’ve made? And how much of it was due to luck?

My best investment was in my children’s education. We had to sacrifice many things to ensure they had the best in this regard. It was worth it, as they are maturing, or have matured, as great young men. There was no luck involved, just good planning.

What’s the best book you’ve read recently and why did you like it?

I was honoured earlier this year to draft a foreword and opening remarks for the book Prophetic Finance and Economics by UK Islamic scholar Mufti Faraz Adam. It presents unique insights into the intricacies of the current Islamic finance landscape through the eyes of a seasoned scholar.

The author tactfully articulates the practical application of prophetic traditions while traversing contemporary Islamic finance practices, allowing the reader a rare perspective into the meticulous processes that scholars navigate to pronounce certification of Islamic financial products.

What is the hardest life lesson you’ve learnt?

The impermanence of everything! It takes a lifetime of experience to understand that nothing lasts forever, whether it’s the best of times or the worst of times, or even the presence of the people in our lives. This can be hard to grasp, but it can also be liberating in understanding the value of the present.

These lessons, as difficult as they can be, are essential for our personal growth, which leads to a deeper, more nuanced understanding of life and our place within it.

What phrase or bit of jargon irks you most?

In the work environment, when people say: “To be honest …”. Are we not supposed to be honest in any case? Especially in banking, you expect nothing but the truth, from staff and customers — honestly!

What is something you would go back and tell your younger self that would impress them?

That I became MD/CEO of an Islamic banking business at the age of 36. I recently learnt that it makes me the youngest recorded CEO in such a position.

If you were President Cyril Ramaphosa, what would you change, or do, tomorrow? 

I would immediately tackle the corruption that is suffocating the country. This would require a carefully constructed, multifaceted approach involving several elements, with a specific focus on transparent governance, legal enforcement, civic engagement and ethical leadership.