The rapid development of the Islamic finance and Islamic banking industry, not only in the Middle East but across the globe, has produced new Shariah compliant products and structures, which have in turn resulted in a substantial growth in demand for Islamic financial services. The number of Islamic institutions and their assets grew approximately at an average annual rate of 20 % in the world.
Western countries are now developing more competitive Islamic Finance products which are no longer considered as a specialised structure developed for religious purposes. Except for London, European financial centres do currently not have a suitable offer to those who wish to invest a part in conformity with Islam, comparing to Dubai, Bahrain and Singapore. Although having a net delay in Islamic banking financial centres like Geneva manage today up to 300 billion dollars asset Moslems.
This conference aims to examine some critical issues arising from the implementation of Islamic Finance from jurist, legal, and practical perspectives with a focus on how to create Shariah Compliance in Financial Products, and how to incorporate Islamic Finance into the financial mainstream.
Compliance practices, governance and standards, and enforcement issues will be reviewed through the visions, theories & practices of the competitors across the leading centres of Islamic Finance.
Special emphasis will be given to the Sukuks as they are the hot topic of the year.
We will also present a comparative study between conventional and Shariah compliant financial practices to highlight similarities and differences.
Specific topics for this discussion include:
Islamic Finance:
- Growth & current trends
- Innovation
- Global Impact
- Incorporating Islamic finance into mainstream finance -The Challenge?
Examining the needs of Customers within Islamic Retail Banking:
- Current Products in the Market – Are they meeting the Needs of Customers?
- The Need for new innovation
- Case Study-The Islamic Bank of Britain
The Need for a central Approval Body Governing Islamic Finance:
- Examining The role of Shariah Scholars
- Creating Shariah Compliance in Financial Products
- Examining Future challenges towards Shariah Compliance
- The responsibilities of a Shariah advisory Board
- How the lack of standardization ofShariah board ruling is considered as one of the main challenges in Islamic finance
Islamic Sukuk & main Islamic funds:
- A critical examination of Islamic Investment Certificates: One of the fastest growing areas in Islamic finance
- The role of Shariah board in Islamic finance “Sukuk”innovation
- Review of the Islamic equity funds, property funds and commodity funds with an emphasis on the investment criteria, structuring and performance
Shariah Compliant Corporate Governance:
- Leadership.-and its role in the creation of Value driven organisation.
- Does Islamic finance naturally deliver ethical corporate Governance?
- Strategic perspectives delivering a robust Halal model of Corporate Governance?
Islamic finance – delivering socially responsible investments Model:
- The Growth of Ethical Funds
- Its impact on the environment
- Its total compatibility with Shariah – Potential new force in finance
Takaful Insurance (Islamic Insurance)
- The Growth of Islamic Insurance
- Fundamental Shariah concepts’ underpinning Takaful Insurance
- Takaful-Defined-Difference between conventional
- Developing a Takaful- Model in Europe.
- Why the demand will Soar?
- Islamic Insurance: main models of wakalah, mudarabah without surplus sharing, and mudarabah with surplus sharing.
Our conferences are live webcasted, click here for more information.
Day one: 28th May 2008
09:00 Chairman’s welcome & opening remarks
Mr Umer Majid (United Kingdom)
Director; Halal Investments
09:10 Islamic Merchant Banking – Tools for sustainable finance
- Implementing Islamic Finance in Europe as a tool for growth
- Matching Islamic terminology with western conservative finance
- Non leverage Islamic private equity / leverage Islamic markets
- Translating Islamic ROI into western conservative parameters
- Sustainable finance vs. leverage- best practice cases
Count Albrecht Matuschka (Germany)
Managing Director; Matuschka Gruppe Halal Investments
09:55Leveraging the internet to create a trusted finance become part of the mainstream?
- Delivering a superior customer experience
- Developing high trust
- Proactive organisations are driven by a vision
- Effectively desighning and deploying Islamic financial solutions
Mr Umer Majid (United Kingdom)
Director; Halal Investments
10:40Coffee Break
11:00Islamic (Re) Insurance (Takaful and ReTakaful business)
- What is Takaful and ReTakaful business
- Growth of Takaful and ReTakaful business in different markets
- Difference between Takaful and ReTakaful business and conventional insurance
- Developing a Takaful/ReTakaful business in Europe
- Current market issues with Takaful and ReTakaful
Mr Mohammad Khan (United Kingdom)
Director of Takaful, ReTakaful, Islamic Finance and Insurance Services;
PricewaterhouseCoopers LLP
11:45Understanding Shariah markets to profitable new product innovation
- Ascertaining client needs and the growing demand for Islamic finance
- Discovering transparency across the Islamic client base
- Gathering momentum for product creation
- Researching liquidity, market making, volumes and pricing
Mr Ranjeet Guptara (United Kingdom)
Chief Operating Officer; DEPFA BANK
12:30Lunch
14:00Risk issues in Islamic Banking
- Similarities and differences between Islamic banking and Conventional banking risk
- A check-list of 50 risk types Basel II does apply
Mr Warren Edwardes (United Kingdom)
CEO; Delphi Risk Management Ltd
14:45The feasibility of integration: can Islamic finance become part of the mainstream?
- Value Judgements in Islam
- The Monetary and Banking System
- Models of Finance
- Intermediation
- Insurance, Guarantees and Credit Enhancement
- Public Sector Financing
- Integration with the Secular Regulatory Framework
Mr Tarek EL Diwany (United Kingdom)
Senior partner; Zest Advisory LLP
15:30Coffee Break
15:45Shariah Quality Rating – A tool to assess the dynamic Shariah compliance process
- Dynamism of Shariah compliance
- The need for its assessment and benefits
- Shariah Quality Rating – The assessment criteria
Mr Jamal Abbas Zaidi (United Kingdom)
Chief Executive Officer; Islamic International Rating Agency
16:30Adapting Western tax systems to accommodate Islamic Finance
- Why Islamic Finance can face difficulties in a Western tax system
- Specific consideration of the Swiss tax position
- How the UK tax system has been adapted to facilitate Islamic Finance
Mr Mohammed Amin MA FCA AMCT CTA (Fellow) (United Kingdom)
Partner; PricewaterhouseCoopers LLP
17:15Cocktail
Day two: 29th May 2008
09:00 Chairman’s welcome & opening remarks
Mr Umer Majid (United Kingdom)
Director; Halal Investments
09:10 Liquidity Issues in Islamic banking
- Paralells with conventional banking: Case Studies
- Asset/liability gap management shortage of instruments
Mr Warren Edwardes (United Kingdom)
CEO; Delphi Risk Management Ltd
09:55 The Islamic investment market “huge demand,limited supply- why?
- To be confirmed by the programme manager
Mr Jason Peers (United Arab Emirates)
Group Chief Executive; Jasper Capital Group
10:40 Coffee break
11:00 Islamic finance in the Far East – the story so far
- Malaysia’s success story
- Growth of Islamic finance in other South East Asian countries
- What next in the Far East and the rest of the world?
Mr Nazmi Camalxaman (United Kingdom)
Manager; CIMB Bank Berhad
11:45 Examining the needs of customers within Islamic retail banking
- To be confirmed by the programme manager
Mr Mohamed Boulif (Belgium)
Chairman; Al Maalya – Islamic Finance Consulting
12:30 Lunch
14:00 Shariah corporate governance and leadership
- Does Islamic finance naturally deliver ethical corporate Governance?
- Strategic perspectives delivering a robust Halal model of Corporate Governance ?
Mr Umer Majid (United Kingdom)
Director; Halal Investments
14:45 Islamic finance in the United Kingdom
- To be confirmed by the programme manager
Mr Keith Leach (United Kingdom)
Head of alburaq; ABC International Bank plc
15:30 Coffee break
15:45 International Shariah Advisory Board
- To be confirmed by the programme manager
Mr Mohammad Bakkar (Lebanon)
Attorney at Law; Bakkar Advocates and legal
16:30 Tapping the capital markets the Islamic way: the Sukuk phenomenon
- Overview of the Market
- Profile of Sukuk Structures
- Assessment and Risks of Sukuk
- Which future lies ahead?
Mr Alberto Brugnoni (Italy)
17:15Close of the conference
