Dubai to host conference on Islamic banking

WAM): As financial institutions reel under the economic crisis, over 200 Islamic scholars and banking experts will converge in Dubai in May this year to discuss the future role of Islamic banking in salvaging the global economy.

Islamic banking connotes a banking system that is consistent with the principles of Islamic Law (Sharia) which prohibits usury but encourages sharing of profits and loss. Though Islamic banks are established with the same objective of financing, they operate abiding by the principles of Sharia...continue Reading

Innovation Can Spur The Development Of Islamic Finance

Bernama : The 6th International Islamic Finance Conference 2008 in Kuala Lumpur on Oct 13-14, will provide new insights into the innovations and market strategies for Islamic finance.

The conference is organised by the Institute of Bankers Malaysia, Monash University and the Islamic Banking and Finance Institute Malaysia.Monash University's director of banking and finance, School of Business, Prof Bala Shanmugan said the conference is expected to attract 300 local and international participants.

"It will address current trends and the way forward in Islamic finance.We think innovation is something that will spur the development of Islamic finance," Bala said during a media briefing Friday.

The conference theme is, "Innovation in Islamic Finance:A Fast Track to Global Acceptance".

According to Bala, it means Islamic finance players need to constantly reevaluate their respective operational strategies and be innovative to stay ahead of the competition.

He noted that the conference would also provide a platform and networking channel for researchers, academicians, business leaders and industry practitioners.

Among the topics to be covered are Shariah law and legal issues in the Islamic finance industry, Islamic accounting standards, the Islamic capital market,capital adequacy as well as takaful and retakaful.

Another interesting highlight of the conference, Bala explained, is that there will be international speakers including Dr Yahia Abdul Rahman from American Finance House-LARIBA, Abu Zafar Chowdhury from the Dhaka Mercantile Co-operative Bank Ltd,, Takahiro Sekido from the Japan Centre for International Finance and Daud Vicary Abdullah from the Asian Finance Bank.

The conference will also discuss the takaful and retakaful business.

"The retakaful business in Malaysia is still limited in terms of capacity and therefore has a huge opportunity for further expansion," Bala said.

To further expand this sector, he said, requires specialised skills and knowledge of the risks.

MALAYSIA TO HOST THE 2ND GLOBAL ISLAMIC FINANCE CONFERENCE (GIFC2008)

MediaSyndicate :Building on the success of 2006 inaugural conference, the 2nd Global Islamic Finance Conference (GIFC2008), to be held on 29-30 of October at the Prince Hotel & Residence, Kuala Lumpur, Malaysia will convene more than 200 senior executive delegates representing the financial institutions, private corporations, government departments, legal firms and other institutions.

Organised by GlobalPro Consulting and supported by Institut Bank-Bank Malaysia (Institute of Bankers Malaysia), the conference will address the global development, acceptance, implementation, innovations, issues, prospect and challenges faced by Islamic banking, finance, capital market and takaful institutions. Industry experts, practitioners, Shariah advisors and regulators from various countries will address latest topics and issues in Islamic finance.

Y.B. Dato’ Seri Dr. Ahmad Zahid bin Hamidi, Minister in the Prime Minister’s Department, Malaysia will deliver the keynote address entitled “Evolution and Opportunities of Islamic Finance” at the opening ceremony of GIFC2008.

Topics to be discussed include ensuring shariah compliant islamic finance instruments and services, product development and implementation of Islamic finance, commodity murabahah, sukuk, takaful, Islamic venture capital and private equity, risk analysis of Islamic banking, foundation of Islamic derivatives & structured product, issues on accounting and auditing for Islamic financial institutions, celestial management and their application in Islamic financial services, legal issues and challenges in Islamic finance and dispute settlement in Islamic finance. A forum entitled “Development and Challenges in Islamic Finance” will be held at the end of the conference.

The conference will feature a panel of distinguished local and international speakers, moderators and panelists ranging from top industry leaders, regulators to renowned scholars.

Some of the prominent local speakers include Dr. Aznan Hasan (Assistant Professor, Kuliah of Laws, International Islamic University Malaysia (IIUM) and Shariah Advisory Council, Bank Negara Malaysia (BNM) & Bursa Malaysia), Norfadelizan Abd Rahman (Head, Product Development, Islamic Capital Market Department, Bursa Malaysia), Tuan Haji Wan Mohd. Fadzlullah Wan Abdullah (Executive Vice President/ Chief Operating Officer, Takaful Ikhlas Sdn. Bhd), Hassan Ahmed (Managing Director, Crescent Risk and Wealth Management Consultancy Sdn. Bhd) and Ahmad Lutfi Abdull Mutalip (Partner, Azmi & Associates).

For more information, please contact:

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DESIGNATION: SENIOR MANAGER, GLOBALPRO CONSULTING
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