organizes Sukuk workshop at Euromoney conference
The conference, opened by his EE Yousef H. Kamal Minister of Finance and Acting Minister of Economy and Commerce, brought together some 250 high profile delegates from around the GCC and international markets, most of them representing financial institutions that are issuers of debt securities in the Middle East, investors in such securities or intermediaries with a significant presence in the market.
QIB took the opportunity to address the very relevant subject of Sukuks in their workshop. Sukuks are the Islamic equivalent of bonds that are quickly gaining popularity in the region.
‘Since conventional, fixed income, interest bearing bonds are not permitted under Islamic law, Sukuks are specifically designed to be compatible with Sharia’a law,’ explained Jean-Marc Riegel, General Manager of Investment Banking & Development Group, QIB. ‘They have become a force to be reckoned with, and we thought it was time we brought the discussion to the table.’
The workshop touched upon an array of related topics, including the structures and regulations for financial institutions, companies and bonds, project financing and Islamic financing.
According to Euromoney, the conference was organized ‘to promote the benefits of debt capital markets to potential and current issuers within the region and to develop the region’s debt capital market structures, legislation and investor base.’ The conference featured keynote addresses by leading regional and international finance experts, but majority of the time was devoted to interactive Davos-style panel discussions and workshops mandated and moderated by Euromoney. The workshops were organized by such well known financial institutions as Goldman Sachs, Qatar Islamic Bank and the Qatar Financial Center (QFC).
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