The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA), participated in the 1st Annual Middle East Islamic Finance & Investment Conference (MEIFIC 2011) held in Dubai.
The conference, which focused on the vital role of the global Islamic finance industry, provided key industry players with an ideal platform to discussthe reality of the Islamic finance market specifically in the Middle East.
Mr. Craig Hewett, Chief Business Officer of the Bahrain Financial Exchange, hosted a session entitled "Exchanges: the catalyst for growth in Islamic Finance", where he addressed the significance of exchanges and their integral role in Islamic finance and driving liquidity into Islamic markets, as well as in facilitating price discovery, transparency, transaction cost efficiency and risk mitigation.
Mr. Hewett commented on the success of the 1st Annual MEIFIC conference and the benefit it provided to the industry, saying that, "The Islamic finance industry has been on a steady and consistent growth pattern for a number of years now, which has lead to a wealth of options and opportunities for the investor. In order to help encourage the industry to continue following this upwards growth trend, we have strategically positioned our business to offer a unique and powerful toolset that will not only simplify Islamic transactions, but ensure it continues to adhere to the underlying Islamic Shariah principles upon which our industry is built.
The e-Tayseer product, which was recently introduced, is the first of these tools, and through i we offer financial institutions the option to purchase assets directly from asset suppliers to be used for Murabaha liquidity management transactions, all in a secure online environment."
The BFX is the first multi-asset exchange in the MENA region providing a unique opportunity for the MENAfinancial services sector to link-in with established markets and take a step forward on the global financial services stage.
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