The Islamic finance sector can further prosper from companies offering innovative methods of educating their employees.Dar Al Sharia, a consultancy and advisory services unit of Dubai Islamic Bank (DIB) has partnered with UK-based Durham University and Hawkamah, the Institute for Corporate Governance, to offer training courses in Islamic finance.
The new courses will be offered at an affordable price and will last for between three and five days. It will initially be run in Dubai, said a DIB statement.
The courses will suit professionals working within the finance industry in particular, as well as university students hoping to work in the field of business and finance, it added.
The courses are aimed at meeting the needs of the UAE’s rapidly expanding Islamic finance industry for high quality academic and practical training, said the DIB in its statement.
Certificates for the courses will be awarded jointly in the names of Dar Al Sharia, Durham University and Hawkamah.
Through this workshop, students will benefit from a unique curriculum that teaches simultaneously the academic and practical elements of Islamic finance, including the role of corporate governance in it. This will provide the participants a complete picture of how Islamic finance operates.
With the support of Hawkamah, the courses will be developed under the guidance of two experts - Dr. Hussain Hamed Hassan, chairman - DIB Sharia Board and the managing director of Dar Al Sharia who has been instrumental in developing the structure for several landmark Sukuk and products, and Professor Rodney Wilson of Durham University, a leading Islamic finance academic for over 25 years.
Dr Hassan said, "Islamic finance is one of the fastest growing industries in the world. However, authentic education on the subject is not widely and easily available."
"We are delighted to work with Durham University and Hawkamah to fill this vacuum and create what will be the benchmark in Islamic finance teaching," he noted.
"For the first time in the UAE, practitioners as well as students can benefit from a curriculum designed to teach both the academic and practical skills needed to succeed in Islamic finance," he added.
Dr Nasser Saidi, executive director of Hawkamah, said: “We are pleased to partner with Dar Al Sharia and Durham University on holding this course, as capacity building of those who are involved first hand in this industry is key to the development of the Islamic Finance Industry."
"Hawkamah strongly advocates creating awareness about corporate governance in the Islamic finance industry and is also providing solutions to the Islamic finance industry on how to bridge the corporate governance gap in the region,"he stated.
Prof Wilson said, "Working with Dar Al Sharia and Hawkamah, we will set the standard in excellence for the teaching of Islamic finance, fuelling development in this fast growing sector of the UAE economy."
The first course, 'Understanding Sukuk Structures and Documentation', will run from September 12 to 14 and will be conducted by the Dar Al Sharia team.-
Friday, 22 July 2011
Indonesia & Malaysia Colloborate To Boost Islamic Banking
The Indonesian and Malaysian central banks have agreed to improve cooperation to boost the development of Islamic finance in the two nations.
“Islamic finance like Shariah banking is no longer just complementary but has now become a genuine alternative financing option,” said Darmin Nasution, the governor of Bank Indonesia. “So there is a strong need for Islamic banks in Malaysia and in Indonesia to improve their cooperation and develop the Islamic finance market.’’
Darmin was speaking at the opening of a two-day conference on Islamic finance, which was also attended by Vice President Boediono and the governor of Malaysia’s central bank,Zeti Akhtar Aziz.
Darmin said Indonesia’s Shariah banking sector should learn from Malaysia, which has become the center of Islamic finance in Asia. Total assets of Islamic banks in Malaysia stood at $116 billion as of the end of 2010, according to data from its central bank.
“Islamic finance in Malaysia has developed extremely quickly, while Indonesia has a huge potential market given that it has the largest Islamic population,’’ Darmin said.
Assets of Shariah banks in Indonesia totaled Rp 104 trillion ($12.2 billion) at the end of last year. Indonesia has 11 banks that offer Islamic finance options, including Bank Syariah Mandiri, Bank Muamalat Indonesia, Bank Mega Syariah, BRI Syariah and BCA Syariah.
Separately, Zeti said that Malaysia and Indonesia should improve cooperation in Islamic finance and help to develop the sector in the global market.
“Islamic finance will continue to play an important role in the global economy,” he said. “So it’s important for us to grab this opportunity, not only for Malaysia and Indonesia but also for other Asian countries. Islamic finance will help improve welfare and boost economic growth.”
Halim Alamsyah, a Bank Indonesia deputy governor, said the bank wanted to discuss the technical aspects of Shariah banking with its Malaysian counterpart in greater detail. “This will help to create added value in the Shariah banking sector,’’ he said.
In the banking sector overall, Bank Indonesia forecast lending by the country’s 120 commercial banks would rise 24 percent this year, slightly higher than the 23.8 percent gain in 2010. In the first half, loans climbed 24 percent to Rp 372.8 trillion from the same period last year.
Last year, banks’ combined net profit rose 26 percent to Rp 57.1 trillion from a year earlier, according to central bank data.
“Islamic finance like Shariah banking is no longer just complementary but has now become a genuine alternative financing option,” said Darmin Nasution, the governor of Bank Indonesia. “So there is a strong need for Islamic banks in Malaysia and in Indonesia to improve their cooperation and develop the Islamic finance market.’’
Darmin was speaking at the opening of a two-day conference on Islamic finance, which was also attended by Vice President Boediono and the governor of Malaysia’s central bank,Zeti Akhtar Aziz.
Darmin said Indonesia’s Shariah banking sector should learn from Malaysia, which has become the center of Islamic finance in Asia. Total assets of Islamic banks in Malaysia stood at $116 billion as of the end of 2010, according to data from its central bank.
“Islamic finance in Malaysia has developed extremely quickly, while Indonesia has a huge potential market given that it has the largest Islamic population,’’ Darmin said.
Assets of Shariah banks in Indonesia totaled Rp 104 trillion ($12.2 billion) at the end of last year. Indonesia has 11 banks that offer Islamic finance options, including Bank Syariah Mandiri, Bank Muamalat Indonesia, Bank Mega Syariah, BRI Syariah and BCA Syariah.
Separately, Zeti said that Malaysia and Indonesia should improve cooperation in Islamic finance and help to develop the sector in the global market.
“Islamic finance will continue to play an important role in the global economy,” he said. “So it’s important for us to grab this opportunity, not only for Malaysia and Indonesia but also for other Asian countries. Islamic finance will help improve welfare and boost economic growth.”
Halim Alamsyah, a Bank Indonesia deputy governor, said the bank wanted to discuss the technical aspects of Shariah banking with its Malaysian counterpart in greater detail. “This will help to create added value in the Shariah banking sector,’’ he said.
In the banking sector overall, Bank Indonesia forecast lending by the country’s 120 commercial banks would rise 24 percent this year, slightly higher than the 23.8 percent gain in 2010. In the first half, loans climbed 24 percent to Rp 372.8 trillion from the same period last year.
Last year, banks’ combined net profit rose 26 percent to Rp 57.1 trillion from a year earlier, according to central bank data.
HSBC Amanah Wins Six Prestegious Islamic Finance Awards
HSBC Amanah has been doing unprecedently well as they have been reported to have won a staggering six awards, in recognition of its leading Islamic capabilities, from arranging Sukuk to structuring Islamic investments, providing custody services and trade financing.
The awards that HSBC Amanah received were: The Asset’s Triple A Islamic Finance Awards 2011, Sukuk House of the Year, Best Islamic Investment Bank, Asia , Best Islamic Investment Bank, Middle East, Islamic Custodian of the Year for the second consecutive year, Euromoney’s Trade Finance magazine Awards for Excellence 2011, Best Islamic Trade Finance Bank for Europe, Middle East and Africa (EMEA), Credit Awards 2011, and Best Bank for Islamic finance for third consecutive year.
Razi Fakih, Deputy CEO of HSBC Amanah, said, “We are grateful to be recognised time and again as the leading international Islamic bank across customer segments, be it corporates, institutions or individuals. HSBC Amanah is at the forefront of the industry, helping structure innovative Islamic finance deals for customers. So far in 2011, HSBC Amanah is the No 1 underwriter of international Sukuk, with a 37.4 per cent market share.
“We are also pleased to retain the ‘Islamic Custodian of the Year’ award for the second consecutive year. The launch of HSBC Amanah Securities Services in March 2011 allows managers of Islamic funds to have for the first time, a globally consistent Shariah-compliant securities service in 17 markets across the Middle East, Asia Pacific, Europe and the Americas. This is crucial for asset managers who are looking to distribute products beyond their home markets.”
HSBC Amanah is also ‘Best Islamic Trade Finance Bank (EMEA)’, according to Trade Finance magazine’s Awards for Excellence 2011. With a wide range of Islamic commercial banking and treasury products and presence in six markets across Asia and the Middle East, HSBC Amanah is uniquely positioned to connect customers between Asia and the MiddleEast.
Cross-border trade flows have indeed been increasing in recent years, especially between Asia and the Middle East, according to WTO data. HSBC’s Islamic products for corporate customers include account services, working capital and trade finance, long-term and project finance, payments and cash management solutions, treasury hedging solutions, Sukuk (Islamic bonds), syndications and takaful (Islamic insurance).
HSBC Amanah has also been named ‘Best Islamic Investment Bank, Asia and the Middle East’ for its broad array of Islamic funds, spanning from equities (global, emerging markets, Europe, Asia, GCC and Saudi Arabia), money markets, real estate, balanced funds, income-focused funds and capital-protected funds. Besides the six awards, 10 of the deals that HSBC Amanah arranged between July 2010 to June 2011 were also selected as winners in The Asset’s Best Islamic deals.
The deals are; Republic of Indonesia’s 8.03 trillion rupiah retail Sukuk; Qatar Islamic Bank’s $750 million Sukuk; Saudi Electric Company Saudi Riyal 7 billion Sukuk; Sabana Shariah-compliant industrial REIT’s $636 million IPO; Trans Thai-Malaysia (Thailand) 600 million ringgit Sukuk; National Bank of Abu Dhabi’s 500 million ringgit Sukuk; Abu Dhabi Islamic Bank’s $750 million Sukuk; Government of Malaysia’s $1.25 billion Sukuk Ijara; Saudi Bin Laden Group’s Saudi riyal 700 million Murabaha Sukuk and Cagamas’ 230 million ringgit variable rate Sukuk.
The awards that HSBC Amanah received were: The Asset’s Triple A Islamic Finance Awards 2011, Sukuk House of the Year, Best Islamic Investment Bank, Asia , Best Islamic Investment Bank, Middle East, Islamic Custodian of the Year for the second consecutive year, Euromoney’s Trade Finance magazine Awards for Excellence 2011, Best Islamic Trade Finance Bank for Europe, Middle East and Africa (EMEA), Credit Awards 2011, and Best Bank for Islamic finance for third consecutive year.
Razi Fakih, Deputy CEO of HSBC Amanah, said, “We are grateful to be recognised time and again as the leading international Islamic bank across customer segments, be it corporates, institutions or individuals. HSBC Amanah is at the forefront of the industry, helping structure innovative Islamic finance deals for customers. So far in 2011, HSBC Amanah is the No 1 underwriter of international Sukuk, with a 37.4 per cent market share.
“We are also pleased to retain the ‘Islamic Custodian of the Year’ award for the second consecutive year. The launch of HSBC Amanah Securities Services in March 2011 allows managers of Islamic funds to have for the first time, a globally consistent Shariah-compliant securities service in 17 markets across the Middle East, Asia Pacific, Europe and the Americas. This is crucial for asset managers who are looking to distribute products beyond their home markets.”
HSBC Amanah is also ‘Best Islamic Trade Finance Bank (EMEA)’, according to Trade Finance magazine’s Awards for Excellence 2011. With a wide range of Islamic commercial banking and treasury products and presence in six markets across Asia and the Middle East, HSBC Amanah is uniquely positioned to connect customers between Asia and the MiddleEast.
Cross-border trade flows have indeed been increasing in recent years, especially between Asia and the Middle East, according to WTO data. HSBC’s Islamic products for corporate customers include account services, working capital and trade finance, long-term and project finance, payments and cash management solutions, treasury hedging solutions, Sukuk (Islamic bonds), syndications and takaful (Islamic insurance).
HSBC Amanah has also been named ‘Best Islamic Investment Bank, Asia and the Middle East’ for its broad array of Islamic funds, spanning from equities (global, emerging markets, Europe, Asia, GCC and Saudi Arabia), money markets, real estate, balanced funds, income-focused funds and capital-protected funds. Besides the six awards, 10 of the deals that HSBC Amanah arranged between July 2010 to June 2011 were also selected as winners in The Asset’s Best Islamic deals.
The deals are; Republic of Indonesia’s 8.03 trillion rupiah retail Sukuk; Qatar Islamic Bank’s $750 million Sukuk; Saudi Electric Company Saudi Riyal 7 billion Sukuk; Sabana Shariah-compliant industrial REIT’s $636 million IPO; Trans Thai-Malaysia (Thailand) 600 million ringgit Sukuk; National Bank of Abu Dhabi’s 500 million ringgit Sukuk; Abu Dhabi Islamic Bank’s $750 million Sukuk; Government of Malaysia’s $1.25 billion Sukuk Ijara; Saudi Bin Laden Group’s Saudi riyal 700 million Murabaha Sukuk and Cagamas’ 230 million ringgit variable rate Sukuk.
Gatehouse London Enters into Takaful Sector
Gatehouse London is entering into the Takaful sector with the facilitation of the city's first Takaful brokerage. Gatehouse London (GNL) said "We're for the first time offering global corporations Takaful support from London, the world's leading insurance market," Richard Bishop, CEO of GNL Insurance.
He said: "Up until now large multinationals that have required global Shari'ah compliant insurance solutions have been forced to use small brokers in Asian and Gulf countries, whereas they can now be serviced from London."
GNL Insurance is a joint venture between British Islamic bank, Gatehouse and Paul Napier, a Lloyd's insurance broker based in London.
The new firm will provide a global gateway for corporate and institutional clients seeking commercial risk protection, with its initial mandate being the provision of insurance for real estate, trade finance and financial institutions.
The firm will only be focusing on large commercial clientele, not retail or general Takaful. Bishop said: "The retail insurance market is not ready for Takaful, this is why [UK retail Takaful firm] Salaam Halal Insurance failed, as the market, especially at the retail level is dominated by a handful of large, aggressive firms who will force any competition out of the game by all means necessary."
GNL's first client is Chartis UK a diversified global risk solutions leader. For several years Chartis has recognized the importance of Takaful financial products and through Chartis Takaful in Bahrain has been offering Shari'ah compliant commercial and consumer products since 2006.
He said: "Up until now large multinationals that have required global Shari'ah compliant insurance solutions have been forced to use small brokers in Asian and Gulf countries, whereas they can now be serviced from London."
GNL Insurance is a joint venture between British Islamic bank, Gatehouse and Paul Napier, a Lloyd's insurance broker based in London.
The new firm will provide a global gateway for corporate and institutional clients seeking commercial risk protection, with its initial mandate being the provision of insurance for real estate, trade finance and financial institutions.
The firm will only be focusing on large commercial clientele, not retail or general Takaful. Bishop said: "The retail insurance market is not ready for Takaful, this is why [UK retail Takaful firm] Salaam Halal Insurance failed, as the market, especially at the retail level is dominated by a handful of large, aggressive firms who will force any competition out of the game by all means necessary."
GNL's first client is Chartis UK a diversified global risk solutions leader. For several years Chartis has recognized the importance of Takaful financial products and through Chartis Takaful in Bahrain has been offering Shari'ah compliant commercial and consumer products since 2006.
Thursday, 14 July 2011
Ajman Bank Chief Operating Officer Awarded Prominent Position
Ashraf Shokry, Chief Operating Officer of Ajman Bank, was inducted into the Who’s Who of Financial Technology-Middle East 2011. The accolade from the World Development Forum, organisers of the Financial Technology Summit Middle East, recognised Shokry’s dedication, leadership and excellence in financial technology.
Commenting on this selection, Khaled Eid, CEO of the World Development Forum and founder of the Financial Technology Summit, said: “The induction of Ashraf Shokry recognises his commitment to excellence in financial technology and the leading role he is playing to bring business value to the financial industry through the effective use of Information Technology.”
“Ashraf presented a paper on QR Codes at this year’s Financial Technology Summit, explaining how a new innovative technology with low implementation costs has added great value to Ajman Bank. The paper was rated as one of the summit’s best sessions as it inspired the audience and showed them how technology and innovation can make difference. I would like welcome Ashraf to the prestigious group of Who’s Who of Financial Technology and I am confident that this gathering of leading minds will bring added value and innovation to the industry and the region,” concluded Eid.
Shokry said: “Ajman Bank is committed to transforming the offering and experience of Islamic banking. Central to this goal is the adoption of leading-edge financial technology that enhances the customer experience. I thank the World Development Forum for recognising Ajman Bank’s commitment to innovation, and I look forward to working with my industry peers as we strive to stay at the forefront of financial technology.”
Ashraf Shokry joined Ajman Bank in June 2008 as CIO, and now holds the position of Chief Operating Officer. Mr. Shokry has more than 22 years of experience in banking and non-banking operation and information technology. Before Ajman Bank, he was Head of IT at Khaleeji Commercial Bank and Bahrain Islamic Bank in Bahrain. Shokry holds a bachelor’s degree in Electronics & Communication Engineering and a master’s degree in Computer Science, in addition to many certifications from international bodies.
Commenting on this selection, Khaled Eid, CEO of the World Development Forum and founder of the Financial Technology Summit, said: “The induction of Ashraf Shokry recognises his commitment to excellence in financial technology and the leading role he is playing to bring business value to the financial industry through the effective use of Information Technology.”
“Ashraf presented a paper on QR Codes at this year’s Financial Technology Summit, explaining how a new innovative technology with low implementation costs has added great value to Ajman Bank. The paper was rated as one of the summit’s best sessions as it inspired the audience and showed them how technology and innovation can make difference. I would like welcome Ashraf to the prestigious group of Who’s Who of Financial Technology and I am confident that this gathering of leading minds will bring added value and innovation to the industry and the region,” concluded Eid.
Shokry said: “Ajman Bank is committed to transforming the offering and experience of Islamic banking. Central to this goal is the adoption of leading-edge financial technology that enhances the customer experience. I thank the World Development Forum for recognising Ajman Bank’s commitment to innovation, and I look forward to working with my industry peers as we strive to stay at the forefront of financial technology.”
Ashraf Shokry joined Ajman Bank in June 2008 as CIO, and now holds the position of Chief Operating Officer. Mr. Shokry has more than 22 years of experience in banking and non-banking operation and information technology. Before Ajman Bank, he was Head of IT at Khaleeji Commercial Bank and Bahrain Islamic Bank in Bahrain. Shokry holds a bachelor’s degree in Electronics & Communication Engineering and a master’s degree in Computer Science, in addition to many certifications from international bodies.
Malaysia Hosts 2nd World Conference on Riba Islamic Interest
The 2nd World Conference on Riba scheduled to be held in Malaysia on 26 and 27 July 2011 will set the stage for an in-depth andcomprehensive deliberation on Riba (usury) from all perspectives.
With the theme “The Riba Conundrum: Impartial Outlook from Accounting,Legal and Religious Perspectives”, the conference will be held at the TunHussein Onn Hall, Putra World Trade Centre.
Conference Convener, Professor Dr. Ahamed Kameel Mydin Meera said that the conferencewill critically look at the element of interest, commonly known as Riba in Islamic finance fromthe banking and accounting perspectives.
It also aims to take Islamic bankingas it is practised today to the next level and re-visit the legal tender law to mitigate the use of ‘fiat’ money with gold or community currencies.
“The inaugural WorldConference on Riba which was heldlast November received tremendous support from both Islamic and Western scholars, as well as industry leaders.
We discussed the issue of Riba amid signals of another financialcrisis looming. This was despite constant reports of economic recovery,” hesaid.
“Almost nine months later, wesee turmoil in Arab countries, weakening US$, sharp rise in gold prices,countries going bankrupt and many other worrying financial developments--- allsignalling that the discourse on Ribais even more pertinent in addressing entrenched financial practices whichcorrespond directly to the political and economic upheavals around the world,”said Kameel who is also the Head of Departmentof Finance, Faculty of Economics and Management Sciences, International IslamicUniversity Malaysia (IIUM).
Kameel, the author of the highly critically acclaimed book, The Theft of Nations said Riba is nolonger an isolated term which is relevant only to the Islamic finance.
“Riba is no longer an ‘Islamic’issue. The term could be different, some may call it interest, some will callit usury, but the effect is felt by everyone, irrespective of race or religion.”
According to the Organizing Committee Chairman, Shirazdeen Adam Shah, thesecond conference will be a continuation of the first especially on thediscussion of the core meaning of Riba itself.
“The conference will continue the discussion on the coremeaning of Riba – from religious, scientific and economic perspectives.
Additionally,this year the discussions by the intellectuals, business community and the policymakers will revolve around one central theme which is the relationship between accountingstandards, legal tender and Riba.”
“The key question remains: Can we blame the practiceof Riba for the current global economic and political turmoil? If so, what can be done to mitigate the issue? This is what the conference is all about,” reiterated Shiraz.
Leading speakers for this conference will include Attorneyand President of the Public Banking Institute (USA) Ellen Hodgson Brown, Founderof the Global Exchange Trading Systems (UK) Richard Logie, Founder and Chairmanof the al-Ghazzali Centre for Islamic Sciences and Human Development (Australia)Imam Afroz Ali, former CEO of Bank Muamalat Datuk A. Manap Wahab, Rector of Kolej University Islam Selangor ProfessorDatuk Dr Aziuddin Ahmad, Dean of the Graduate School of Management UniversitiPutra Malaysia Associate Professor Dr Arfah Salleh and many others.
He added that there is an overwhelming response for the conference, with participantsfrom all over the world including United States, Nigeria, United Kingdom,Canada, Jordan, Indonesia and Singapore among the 200 who have registered tilldate.However, he said that there arelimited spaces left.
The two day conference is organised by Thinkers TrendsResources Sdn Bhd, Kulliyah of Economics & Management Sciences, InternationalIslamic University Malaysia and Kolej University Islam Antarabangsa Selangor.
With the theme “The Riba Conundrum: Impartial Outlook from Accounting,Legal and Religious Perspectives”, the conference will be held at the TunHussein Onn Hall, Putra World Trade Centre.
Conference Convener, Professor Dr. Ahamed Kameel Mydin Meera said that the conferencewill critically look at the element of interest, commonly known as Riba in Islamic finance fromthe banking and accounting perspectives.
It also aims to take Islamic bankingas it is practised today to the next level and re-visit the legal tender law to mitigate the use of ‘fiat’ money with gold or community currencies.
“The inaugural WorldConference on Riba which was heldlast November received tremendous support from both Islamic and Western scholars, as well as industry leaders.
We discussed the issue of Riba amid signals of another financialcrisis looming. This was despite constant reports of economic recovery,” hesaid.
“Almost nine months later, wesee turmoil in Arab countries, weakening US$, sharp rise in gold prices,countries going bankrupt and many other worrying financial developments--- allsignalling that the discourse on Ribais even more pertinent in addressing entrenched financial practices whichcorrespond directly to the political and economic upheavals around the world,”said Kameel who is also the Head of Departmentof Finance, Faculty of Economics and Management Sciences, International IslamicUniversity Malaysia (IIUM).
Kameel, the author of the highly critically acclaimed book, The Theft of Nations said Riba is nolonger an isolated term which is relevant only to the Islamic finance.
“Riba is no longer an ‘Islamic’issue. The term could be different, some may call it interest, some will callit usury, but the effect is felt by everyone, irrespective of race or religion.”
According to the Organizing Committee Chairman, Shirazdeen Adam Shah, thesecond conference will be a continuation of the first especially on thediscussion of the core meaning of Riba itself.
“The conference will continue the discussion on the coremeaning of Riba – from religious, scientific and economic perspectives.
Additionally,this year the discussions by the intellectuals, business community and the policymakers will revolve around one central theme which is the relationship between accountingstandards, legal tender and Riba.”
“The key question remains: Can we blame the practiceof Riba for the current global economic and political turmoil? If so, what can be done to mitigate the issue? This is what the conference is all about,” reiterated Shiraz.
Leading speakers for this conference will include Attorneyand President of the Public Banking Institute (USA) Ellen Hodgson Brown, Founderof the Global Exchange Trading Systems (UK) Richard Logie, Founder and Chairmanof the al-Ghazzali Centre for Islamic Sciences and Human Development (Australia)Imam Afroz Ali, former CEO of Bank Muamalat Datuk A. Manap Wahab, Rector of Kolej University Islam Selangor ProfessorDatuk Dr Aziuddin Ahmad, Dean of the Graduate School of Management UniversitiPutra Malaysia Associate Professor Dr Arfah Salleh and many others.
He added that there is an overwhelming response for the conference, with participantsfrom all over the world including United States, Nigeria, United Kingdom,Canada, Jordan, Indonesia and Singapore among the 200 who have registered tilldate.However, he said that there arelimited spaces left.
The two day conference is organised by Thinkers TrendsResources Sdn Bhd, Kulliyah of Economics & Management Sciences, InternationalIslamic University Malaysia and Kolej University Islam Antarabangsa Selangor.
Memorandum Signed Between Meezan Bank and Publicatas Ltd
A memorandum of understanding (MoU) was signed this morning by Meezan Bank Limited (MBL) with Publicitas Pvt Ltd (PPL) at the MBL head office to be the Technical Supporter for World Islamic Finance Summit (WIFS) 2011.
This agreement was signed in the presence of Mr Ahmed Ali Siddiqui and Mr Fayyaz ur Rehman Khan from MBL while from World Islamic Finance Summit, Mr Syed Shahjahan Salahuddin and Mr Ozair Hanafi were present.
WIFS is a two-day summit being organized by Publicitas Pvt Limited with support from the State Bank of Pakistan. This summit is endorsed by a ‘Consultative Group’ comprising of senior bankers, Islamic finance specialists and academicians including Syed Salim Raza-Former Governor State Bank of Pakistan; Mr. Muneer Kamal-Chairman KSE; Mr. Irfan Siddiqui – CEO & President, Meezan Bank Ltd and Mr. Muhammad Ayub- Director Research & Training, Riphah International University Islamabad.
A large number of prominent practitioners and experts in Islamic finance from the region including the Middle East, Malaysia, Indonesia and other key Islamic countries are expected to attend this two-day summit which is due to be held on 21-22 September 2011 in Karachi.
Speakers and chairpersons representing regional and Pakistani Islamic finance institutions will be making presentations and deliberating on practical issues and opportunities, specifically those which can move the Islamic finance to its next level.
This summit is being organized at a suitable time when Pakistan and Islamic countries in the region have various successful programs and products which can serve as the key elements for discussion during the summit.
It will be a high profile event which has already started generating interest both locally and internationally as queries have flooded in the WIFS Secretariat and delegate registration process has commenced.
This agreement was signed in the presence of Mr Ahmed Ali Siddiqui and Mr Fayyaz ur Rehman Khan from MBL while from World Islamic Finance Summit, Mr Syed Shahjahan Salahuddin and Mr Ozair Hanafi were present.
WIFS is a two-day summit being organized by Publicitas Pvt Limited with support from the State Bank of Pakistan. This summit is endorsed by a ‘Consultative Group’ comprising of senior bankers, Islamic finance specialists and academicians including Syed Salim Raza-Former Governor State Bank of Pakistan; Mr. Muneer Kamal-Chairman KSE; Mr. Irfan Siddiqui – CEO & President, Meezan Bank Ltd and Mr. Muhammad Ayub- Director Research & Training, Riphah International University Islamabad.
A large number of prominent practitioners and experts in Islamic finance from the region including the Middle East, Malaysia, Indonesia and other key Islamic countries are expected to attend this two-day summit which is due to be held on 21-22 September 2011 in Karachi.
Speakers and chairpersons representing regional and Pakistani Islamic finance institutions will be making presentations and deliberating on practical issues and opportunities, specifically those which can move the Islamic finance to its next level.
This summit is being organized at a suitable time when Pakistan and Islamic countries in the region have various successful programs and products which can serve as the key elements for discussion during the summit.
It will be a high profile event which has already started generating interest both locally and internationally as queries have flooded in the WIFS Secretariat and delegate registration process has commenced.
Subscribe to:
Posts (Atom)