Their curriculum is modelled on Islamic learning under the Mogul empire.

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And the next day a Munich court ruled that Deutsche and Rolf Breuer, Mr Ackermann's predecessor, who now chairs the bank's supervisory board, were liable to pay damages to Leo Kirch, a media mogul whose empire crumbled last year.

ECONOMIST: There is no quick way out of the quagmire for Germany's banks

James's father, Rupert Murdoch, is the mogul behind the media empire News Corp, which owns 39% of BSkyB.

BBC: BSkyB revenues rise as customers choose extra services