Islamic Finance Events - Congress Conference Summit Seminar Workshop Forum

Waqf fund hosts eighth shari'a scholar session with Dr. Akram Laldin

Bahrain-based Waqf Fund hosted its eighth Shari'a Scholar session with Islamic finance scholar Professor Dr. Akram Laldin from Malaysia. Dr. Laldin serves on several Shari'a Boards including Bank Negara Malaysia's Shari'a Advisory Council, AAOIFI and a number of Islamic financial institutions in Malaysia and globally. The topic under discussion was "The Challenges of Achieving Shari'a Compliance in Islamic Finance". Dr. Laldin made a presentation on the key challenges in Shari'a compliance and narrated a number of real life cases from his experience as a Shari'a Board member. This was followed by an interactive session during which the participants asked questions and gave their comments.

World Social Forum concludes in Tunisia

The 13th World Social Forum (WSF) came to a close after discussing a range of political, social and cultural issues, notably the phenomenon of terrorism and its impacts on democracy. The attendees delivered a message of peace and solidarity from Tunisia's National Bardo Museum, the site of a recent deadly attack. The four-day gathering was held under the slogan of "Together to pursue the revolution of rights and dignity." It gathered representatives of over 5,000 national and multi-national NGOs, including worker, peasant and feminist movements, from 121 countries.

Int'l Islamic economic conf. opens in Doha

The 10th International Conference on Islamic Economics and Finance (ICIEF), themed "Institutional Aspects of Economic, Monetary and Financial Reforms," opened at Qatar National Convention Center on Monday. The agenda topics include, inter alia; Shariah solutions for liquidity problems in Islamic banks, especially after Basel III; the need for a central Shariah board in each central bank: the pros and the cons; evaluating the role of fiqh academies for the development of the Islamic financial industry, and whether the industry is influenced by their decisions and research; and 'taqlid' and 'ijtihad' - challenges facing fatwa issuance in Islamic finance.

Mohammed meets scholars attending Islamic Economic Forum

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, received an elite group of professors and scholars in the presence of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai. The scholars are attending the Islamic Economic FIQH Forum, which kicked off earlier today at the Dubai World Trade Centre. The event will conclude on Tuesday. Sheikh Mohammed and the scholars exchanged views on the importance of Islamic economy in banking, trade and financial transactions.The forum will focus on instilling Islamic jurisprudence in these transactions. It will issue resolutions on the Islamic economy.

AAOIFI holds 14th Annual Sharia Conference

Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) will hold, under the auspices of the Central Bank of Bahrain, the 14th edition of its Annual Shari’a Conference on March 22-23 in Bahrain. The conference will be held in 7 sessions to discuss topics relating to application of Shari’a to international Islamic finance products, services and practices as well as continuing innovation of Islamic finance to support further growth and expansion. Following the conference, AAOIFI will hold training sessions for its Certified Shari’a Adviser and Auditor (CSAA) and Certified Islamic Professional Accountant (CIPA) qualification programs from 24 to 27 March 2015.

Egypt’s Sisi Closes Economic Summit With Call for More Investment

In a speech marking the end of a three-day economic conference, Egypt's president Abdel Fattah Al Sisi reiterated his commitment to peace and growth as he sought more investments from the international community, after receiving commitments worth billions of dollars. Egypt signed investment deals worth more than $138 billion on the first two days of the conference, while its Arab Gulf neighbors—Saudi Arabia, Kuwait and the United Arab Emirates—pledged another $12 billion to help stabilize its economy. But Mr. Sisi, in his concluding remarks, said his country would need a lot more, as much as $300 billion over the coming years, to make its economy strong enough to give its vast population a genuine chance to prosper.

SEDCO hosts Second Financial Dignity Summit at KAU

In celebration of Global Money Week (GMW), SEDCO Holding Group is organizing the Second Financial Dignity Summit under the theme — Money and business — on March 17, in King Abdulaziz University (KAU). The summit will encompass several activities around financial dignity to raise awareness about saving and budgeting. The week-long summit has already simultaneously begun on March 10, during GMW. The summit agenda includes presentations by local successful entrepreneurs. During the summit, 5 shortlisted candidates for the Riyali Young Entrepreneurs’ award will be presenting their projects for a chance to win a substantial financial prize.

The 12th IFSB Summit will be held in Rixos Almaty, Kazakhstan

The 12th IFSB Summit will be hosted by The National Bank of Kazakhstan. The theme of this year’s Summit is «Core Principles for Islamic Finance: Integrating with the Global Regulatory Framework». The 12th IFSB Summit will focus on the major development in the supervision and monitoring approach to the Islamic financial services industry. In particular, various sessions in the Summit will address the role of the Core Principles in enhancing the regulatory consistency and resilience of the Islamic financial services industry as well as enabling the necessary frameworks and pre-conditions for the assessment of regulatory and supervisory regimes.

The Ministry of Finance hosts the first UAE-Luxembourg Council for Islamic Finance Cooperation meeting

The Ministry of Finance (MoF) hosted the first UAE-Luxembourg Council for Islamic Finance Cooperation meeting in Dubai yesterday. The meeting was attended by a number of prominent economic and financial institutions from both countries. UAE members of the council include MoF , the Central Bank, UAE University, Dubai Islamic Economy Development Centre, World Trade Center Abu Dhabi, Dubai Chamber, Etihad Airways, Al Hilal Bank, Sharjah Islamic Bank and Abu Dhabi Islamic Bank. Luxembourg's representativesinclude the Ministry of Finance, Luxembourg Bankers' Association, Association of the Luxembourg Fund Industry and the University of Luxembourg.

Sénégal, le sukuk de 100 milliards de f CFA primé à Kuala Lumpur

L'Etat du Sénégal a été retenu par un jury composé de banquiers, de journalistes, de professeurs d’universités, de spécialistes de la Finance islamique, à l'issue d'une table ronde, mi-janvier 2015 à Kuala Lumpur, en Malaisie. La réunion de janvier dernier en Malaisie vient de décerner un satisfecit à l'Etat du Sénégal. Après son émission obligataire islamique sur le marché international d'un montant de 100 milliards de f CFA (premier du genre au sud du Sahara), menée par la BIS (Banque islamique du Sénégal) et arrangée par Citibank Dubaï et ICD, la signature du portefeuille de l'Etat prend ainsi de la voilure auprès des investisseurs et prêteurs "halal".

10th Durham Islamic Finance Summer School - 24-28th August 2015

Why an Islamic Finance training programme?

The Islamic banking and finance (IBF) sector has experienced substantial and unprecedented growth in recent years: growing at a rate of 10-15% per year. Today, more than 500 IBF institutions are operating worldwide, which are claimed to manage assets worth no less than $1.2 trillion, while the assets held in IBF institutions were only less than $10 billion in 1985. In Malaysia the IBF institutions are planned to capture the 25% of the market share, in terms of assets owned, by 2012, while it is expected that Islamic finance will be the mainstream finance in the Gulf region in the next decade.

Such immense growth has brought Islamic finance to the attention of the international banking and finance community, prompting the major banks to set up Islamic financial windows to take advantage of demand for Shari'ah compliant finance.

The dispute resolution conundrum of the islamic finance industry

The International Islamic Banking and Finance Law Conference took place in Kuala Lumpur, Malaysia, February 4-5, 2015. The conference hosted many high profile speakers including the CEO of CIMB Islamic Bank, Badlisyah Abdul Ghani, who stressed the point that everyone now working in Islamic finance should make a strong effort to learn or further develop their skills in Shari’ah. Camille Paldi, FAAIF CEO, noted that it is imperative for the Islamic Finance industry to develop a unique dispute resolution system tailored for Islamic finance. In addition, Paldi suggests that it might be wise to form a global Islamic finance bankruptcy court to handle the world’s sukuk defaults.

The new date for the Kazan Sukuk Conference 2015

The date for the Kazan Sukuk Conference has been shifted to Thursday, April 9, 2015. The location of the conference will remain the same, the 5-star Mirage Hotel in Kazan, Tatarstan, Russia. This change was made according to the desire of participants and speakers of the Conference. The Conference brings together over 100 representatives of the Russian government, regulators, business entities and international sukuk market players to discuss sukuk structures and their application, jurisdictions and platforms for sukuk issuances, investment projects and underlying asset pools, regulation and Sharia issues. To get more information about the event please visit: www.kazansukuk.ru.

Tunisia: World Social Forum from 24/3 to 28/3

For the second time after the 2013 edition, Tunisia has been chosen to host the World Social Forum. The forum will be held from March 24 to March 28 at the Farhat-Hached university campus in the capital Tunis. The organizational committee for the 2015 forum, under the head of Tunisia's social and economic rights forum, Abderrahmane Hedhili, said that civil society would be mobilized for the event as it was in 2013.

12th IFSB Summit theme announced by Islamic Financial Services Board

The theme of the 12th IFSB Summit underscores the recognition that while there are significant benefits to Islamic finance from the processes of growth and international integration that is underway, there are corresponding challenges in building up the regulatory, supervisory and surveillance capabilities in order to contain vulnerability to cross border volatility and contagion. In particular, many regulatory authorities involved in the regulation and supervision of the Islamic financial services industry face challenges in identifying the applicable principles and benchmarks for assessing the gaps in their existing structures.

The global elite in Davos must give the world a pay rise

The share of national income going to wages across industrialized countries has fallen from over 66 per cent in the early Eighties to around 61 per cent, according to the OECD. Globally, the decline is even sharper – from 62.5 per cent in 1980 to 54 per cent in 2010, according to the United Nations. Rising pay inequalities at the same time as a falling wage share mean even less of the rewards of growth go to the working people who create them. The World Economic Forum itself has at least finally put deepening income inequality at the top of its list of global concerns. The world economy is wage led, and if the wages increase, then the greater spending power boosts growth.

Call for Arab world 'Marshall Plan' at Davos 2015

A call for a 'Marshall Plan' in the Arab world was made at the start of the 2015 World Economic Forum in Davos. One speaker outlined his idea to have a fund to invest in large and small economic projects across the Arab world. The investment would come from Arab sources. There's tons of capital in the area, he said. Several other attendees agreed that such a fund can go ahead without the political stability. However, there are also dangers in the region, like having no change for decades and suddenly dramatic change. The long tradition of strong men and weak states has led to the hollowing out of the nation state and these issues are now coming to the fall.

AAOIFI to hold its 14th Annual Shari'a Conference on 22 and 23 March 2015

Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) will hold the 14th edition of its Annual Shari'a Conference on 22 and 23 March 2015 in Manama, Bahrain. The conference will be held under the auspices of the Central Bank of Bahrain. Discussions will include on topics relating to application of Shari'a to international Islamic finance products, services and practices as well as continuing innovation of Islamic finance to support further growth and expansion of the industry. Following the conference, AAOIFI will hold training sessions for its Certified Shari'a Adviser and Auditor (CSAA) and Certified Islamic Professional Accountant (CIPA) qualification programs from 24 to 27 March 2015.

Islamic finance issues to be probed at forum

Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI) and the Islamic Development Bank (IDB) are planning a joint meeting in Bahrain next month aimed at discussing issues of internationalisation of Islamic financial services. The roundtable meeting of the directors of operations and investment of Islamic banks, themed 'Internationalisation Strategies of Islamic Financial Institutions', will be held on February 23 and 24. Through the meeting, the council expects to increase awareness and information sharing about the CIBAFI Strategic Plan 2015-2018.

NCB Capital sponsors financial education lab at Effat University

NCB Capital has sponsored a new fully equipped lab at Effat University in Jeddah as part of its commitment to spread financial literacy among Saudi Youth. The lab comprises of 25 computer machines and includes hardware and software which help students to monitor financial markets and train them on making sound investments. Sarah Al-Suhaimi, CEO of NCB Capital, said that education sector is a key part of NCB Capital’s corporate social responsibility activities. By sponsoring this initiative, NCB aims to forge a collaborative relationship with Effat University in order to support financial knowledge among the students, and to also introduce them to the world of investment, she added.

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