MANAMA: In the backdrop of the huge potential of growth for the Islamic investment market, there is a need to create sustainable conditions to attract more investment players, according to a regulator.
“Sustaining the rapid pace of growth in Islamic investments achieved over the past several years hinges on creating the conditions that will enable industry players to build scale and support efforts to further broaden the geographic reach – allowing the industry to attract new international Shari’ah-compliant investment flows as well as new capital market issuers,” Abdul Rahman Mohammed Al Baker, Executive Director Financial Institutions Supervision, at the Central Bank of Bahrain (CBB), said.
“Today the industry has grown to become an increasingly substantial segment within the global financial markets and has gained significant attention as a viable and efficient alternative model of financial inter-mediation. Increasingly, more countries are looking to tap into Islamic finance as the industry continues to evolve and market players should act to meet this growing need on a global stage. I look forward this year to the discussions at the 10th Anniversary of the World Islamic Funds and Financial Markets Conference, held under the theme of “Building Scale and Broadening Horizons of Islamic Investments”, which will seek to unlock new growth opportunities in the global Islamic financial markets.”
“The Central Bank of Bahrain is once again delighted to be supporting this prestigious event.”
More than 400 key players, regulators and thought leaders in the global Islamic funds and investments industry are set to gather in the Kingdom of Bahrain on the 19th and 20th of May 2014 for the 10th Anniversary special edition of the World Islamic Funds and Financial Markets Conference (WIFFMC 2014) – the largest and most influential annual gathering of international leaders in the Islamic investments industry.
Held in strategic partnership with the Central Bank of Bahrain, the 10th Anniversary WIFFMC 2014 will set the stage for critical discussions that will focus on “building scale and broadening horizons of Islamic investments”.
WIFFMC 2014 will open on May19th with a special opening address by Abdul Rahman Mohammed Al Baker, CBB.
A key highlight of WIFFMC 2014 will be the high-profile CEO and Industry Leaders’ Power Debate focusing on attracting more international investors to Islamic financial markets. This high-powered debate session features Hasan AlJabri, CEO of SEDCO Capital; Suryono Darno, Director and Chief Executive Officer, CIMB Middle East BSC; Najlal Al Shirawi, Chief Executive Officer, Securities and Investment Company ( SICO )and Dr. Ataf Ahmed, Managing Director, Asset Management, QInvest. The debate will address new approaches to grow the global investor base in Islamic financial markets and overcome challenges of the cross-border distribution and competitiveness of Islamic funds.
“Islamic capital markets have witnessed enormous growth and progress over the last few years, in particular as increasingly international Sukuk issuances from sovereigns, trans-national institutions, financial institutions and corporate end-users continue to expand the boundaries of the industry across key jurisdictions,” Ijlal Ahmed Alvi, Chief Executive Officer at the International Islamic Financial Market (IIFM), said.
“While work documentation and product standards to strengthen and streamline the legal, operational and market practices as well as Shari’ah harmonization is continuing, it is important that the industry maintains its positive growth trajectory and all stakeholders work together to further improve the conditions and infrastructure essential for the continued international development of Islamic capital markets. I am delighted to be a part of the important discussions at this year’s 10th Anniversary World Islamic Funds and Financial Markets Conference 2014 and look forward to discussions on further improving international standardization across Islamic capital markets.”