The Origins of "EPL Theory"

Ramadan Kareem!

This month I thought I would reflect on something that I have used for well over a decade. The phrase Education, Perception and Liquidity (EPL) is one that I have used since 2005 and thought you might find it interesting how this came about.

Sadly, there was not any profound logic or deep rooted strategic thinking that gave birth to the statement. Closer to the truth would be a knee-jerk reaction to a question. So let me share how it all started and how the discussion grew.

I recall taking on my first Managing Director role at a newly formed Islamic banking subsidiary, of a larger financial services group. We attracted a fair amount of media attention as we were a new entity and at the helm was an English guy who had converted to Islam. There we...