We are here to meet diverse needs and requirements of Islamic banking and finance, Islamic microfinance and takaful (Islamic insurance) institutions.

Who we are?



SARAYCON stands for Saray Consultancy for Socially Responsible & Ethical Finance and it is a new player in the growing Islamic finance market.

SARAYCONportal is a knowledge-sharing platform focusing on Islamic banking and finance matters. It is based in Sarajevo, the so called “Jerusalem of the Europe” where the East meets the West.

SARAYCON is specialized in providing Islamic finance solutions to the growing market needs of the Islamic finance industry in general. In particular, we are here to meet diverse needs and requirements of Islamic banking and finance, Islamic microfinance and takaful (Islamic insurance) institutions. In order to meet our clients’ needs and requirements we provide a wide range of end-to-end services including but not limited to Shari’ah advisory and consultancy, training and e-learning solutions, market research, product development, etc.

SARAYCON has a team of young professionals with strong and diverse skillsets that can address any challenges and find right solutions for its clientele. Our diverse skillsets combined with extensive global experience, passion for the work and commitment to the highest standard of services represent a strong case for our existence and future undertakings. Given this we strongly believe that our clients will be more than happy with our collaboration.



To promote principles of the socially responsible & ethical finance with special focus on Islamic banking and finance principles.



To disseminate principles and universal values of the Islamic financial system (Islamic economics, banking, insurance and investment) as a true representative of the socially responsible and ethical finance by becoming a center of excellence in this regard.



The key objectives of the SARAYCON that will help it move towards its vision and achieve its mission are:

Providing consultancy services for development, implementation and marketing of Shari’ah-compliant financial products and services


Organizing thematic workshops, delivering speeches and conducting practical trainings with regard to Islamic finance topics


Promoting and implementing socially responsible and ethical finance through Shari’ah-compliance


Enhancing individual and organizational knowledge and competencies locally and internationally

Meet our team


EdibSmolo, PhD

Dr. Edib Smolo is Assistant Professor at International University of Sarajevo. He has extensive experience in fields of Islamic banking and finance. He was the International Islamic Finance Manager at Tosan.

He worked as the Islamic Finance Manager at Islamic Banking Practice Unit, Indra Technology Solutions Malaysia, and also as the Shari’ah Coordinator at International Islamic Liquidity Management Corporation (IILM). Prior to that, he worked at the International Shari’ah Research Academy (ISRA) for Islamic Finance as a researcher and coordinator of the Islamic Capital Market Unit.

He is also regular speaker and trainer-cum-consultant on various topics within the Islamic finance. At the same time, he is Expert in Practice at Faculty of Business Administration, International University of Sarajevo, B&H.


Dr. Smolo authored and co-authored several chapters in books and papers in refereed journals on Islamic microfinance, economics, and finance. Recently, Dr. Smolo published the book “Introduction to Islamic Economics and Finance: Theory and Practice” in Bosnian language. His interests include Islamic banking and finance, microfinance, fiqh muamalat, takaful (Islamic insurance) and Islamic capital market products, among others.

Dr. Smolo holds a Ph.D. from the International Centre for Education in Islamic Finance (INCEIF), the Global University of Islamic Finance, Malaysia. Dr. Smolo received his double degree, Bachelor of Economics (Honours) and Bachelor of Islamic Revealed Knowledge and Heritage (Honours), as well as Master of Economics from International Islamic University Malaysia (IIUM), Malaysia. He also holds a Certificate for Professional Specialization in Political Management from Bulgarian School of Politics, jointly organized by the New Bulgarian University and the Council of Europe.

Dr. Mustapha Abubakar


Dr. Mustapha Abubakar is a Senior Lecturer in the Department of Banking and Finance in Ahmadu Bello University Business School, Zaria-Nigeria. Prior to joining the academic community in 1999, he worked as a banking officer in Union Bank of Nigeria for nearly three years from 1996 to 1999.

He obtained a Diploma in Accounting, B.Sc. Business Administration, MBA, M.Sc. Business Administration and PhD all from Ahmadu Bello University, Zaria-Nigeria in 1989, 1993, 1995, 2010 and 2017 respectively. He has participated in many academic conferences as a paper presenter in conventional and Islamic Finance, Banking and economics areas in Nigeria, Malaysia, Saudi Arabia and Bangladesh. He has also published papers in academic journals in Nigeria and abroad and reviewed a number of academic papers for seminars, theses, journal articles and books in areas of Islamic banking, economics and finance. This is in addition to other numerous supervision works of undergraduate and post graduate students he undertook.

Dr. Saad Bakkali


Dr. Saad Bakkali is an Islamic finance and Sharia specialist. He was awarded his Bachelor degree in Islamic law and Islamic jurisprudence from the Islamic University of Medina, Saudi Arabia. He also holds Masters and Ph.D degrees in Islamic Finance from the Global University of Islamic Finance (INCEIF), Kuala Lumpur, Malaysia.

Saad is currently serving as Manager Higher Sharia Authority at the CB UAE. Prior to that, he was part of the Sharia department of Dubai Islamic Bank in the Sharia department and served at secretariat of both General Council for Islamic Banks and Financial Institutions (CIBAFI) and the Islamic Financial Services Board (IFSB).

Why choose us


At SARAYCON, we are committed to continuous development, improvement and promotion of socially responsible and ethical values when doing business activities with our clients. We believe in what we do and we do what we love thus creating a fruitful environment for our team and business partners. Our core values are our guiding principles when conducting consulting services to our clients. They are as follows:

Integrity & Reliability

We believe that mutual trust is the main approach for a long-term and sustainable relationship between an individual and business entity. A client's personal or business request is our “Amanah”, and it is our responsibility in fulfilling client requirements in the reliable and transparent means.

Excellence & Professional Expertise

In addressing issues and finding solutions on behalf of our clients, we fully commit our expertise and resources without compromising on the quality of the outcome and integrity of Shari’ah-compliance. Our team of excellent scholars and professionals are our guarantees for “a job well done!” since customer satisfaction is the heart and soul of our company.