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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.

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Programme

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)

President and Founding Member; ASSAIF
Association for the Development of Alternative Instruments and Innovative Finance

17:15Close of the conference

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