IslamicFinance.de

The theme for this 2014 Summit is New Markets and Frontiers for Islamic Finance: Innovation and the Regulatory Perimeter.

Please refer to http://www.ifsb.org/preess_full.php?id=240&submit=more for the announcement of the 11th IFSB Summit.

For any queries regarding the Summit, please contact the secretariat:

- Participants' registration

Ms. Yazmin Aziz at yazmin@ifsb.org

Mrs. Ida Shafinaz Ab. Malek at ida.shafinaz@ifsb.org

- Sponsorship and Media

Ms. Rosmawatie Abdul Halim at rosmawatie@ifsb.org

Organised in conjunction with the Harvard Islamic Finance Project, Farmida Bi talks on Islamic finance in the Western world. Farmida Bi is partner and European head of Islamic Finance, Norton Rose Fulbright LLP. Dr Paul Mills is senior economist at International Monetary Finance, London.

Recorded on 12 February 2014 in New Theatre, East Building.

Department of Law public lecture
Date: Wednesday 12 February 2014
Time: 6.30-8pm
Venue: New Theatre, East Building
Speaker: Farmida Bi

Organised in conjunction with the Harvard Islamic Finance Project, Farmida Bi talks on Islamic finance in the Western world.

Farmida Bi is partner and European head of Islamic Finance, Norton Rose Fulbright LLP.

Suggested hashtag for this event for Twitter users: #LSErisk

This event is free and open to all with no ticket required. Entry is on a first come, first served basis. For any queries email events@lse.ac.uk| or call 020 7955 6043.

Media queries: please contact the Press Office if you would like to request a press seat or have a media query about this event, email LSE.Press.Events@lse.ac.uk|. Please note that press seats are usually allocated at least 24 hours before each event.

From time to time there are changes to event details so we strongly recommend that if you plan to attend this event you check back on this listing on the day of the event.

For many years we see in the media experts believing in inflation and even hyper inflation. However, in the same time we face proponents warning against deflation. So far we all noticed.

Only a about a week ago I read an article by Myret Zaki clarifying that unfortunately inflation and deflation co-exists.

Myret Zaki's thesis is that we face inflation on financial markets, and deflation in the real economy (in French):

http://www.bilan.ch/myret-zaki/redaction-bilan/inflation-et-deflation-co...

In my view there is a general major shift in the price matrix and I still try to figure the magnitude and implications thereof. It is a bit irritating as at University we learned about neutrality of money:

http://en.wikipedia.org/wiki/Neutrality_of_money

This means any extra supply will increase prices equally, 5 % more money, all prices going up 5 %. Pretty plausible at first hand. However, it seems it does not work in reality any more (or never did).

Federal Finance Minister of Pakistan Ishaq Dar Wednesday urged to further push the process of Islamisation of banking and finance in the country at the roundtable conference on ‘Potential of Islamic banking in Pakistan’. He said that a committee had already been constituted on the subject with a fairly broad mandate assigned for the realisation of its cherished goal. The committee which would suggest a road map and timeframe for progression of various phases of Islamic banking in the country by December 31, 2014, has initially set the following key areas of investigations: removal of all difficulties being faced by the existing Islamic financial institutions in the operations vis-à-vis conventional institutions and design of new products that may enable government to conduct its resource mobilisation operations through Shariah compliant methods.

The Sixth Foundation of Islamic Finance (FIFC) Conference is to be held at the Durham University, Durham, United Kingdom on April 2-3, 2014. Papers relating to Islamic economics and finance including papers covering the Shariah aspects of Islamic economics and finance are welcome in this 2014 meeting with the conference theme "Islamic Economics and Finance: The New Frontier”. Numerous experts, industry practitioners and scholars will participate. The submission deadline for papers is Friday 15, February, 2014. Paper writer(s) will be notified of the International Review Panel’s decision by 23 February, 2014. Once the papers are accepted, registration has to be done by 28 February, 2014. The registration fee is MR 1450 (about US$450). For further information and contact details please see the website: http://nceis.unimelb.edu.au/events/all/foundation_of_islamic_finance_con...

More measures to encourgae the development of the Hong Kong’s Islamic financial market, particularly the sukuk and the Islamic fund management industry were discussed during the first meeting of the Joint Finance Forum which was held in the special administrative region. The forum participants agreed to identify potential sukuk issuers and encourage cross-border sukuk issuances between Hong Kong and Malaysia. Moreover, they also agreed to consider launching Islamic funds and make use of the established mutual recognition framework for Islamic funds between Hong Kong and Malaysia to facilitate cross-border Islamic financial activities.

AAOIFI Accounting standards reflect concept and essence of Islamic finance transactions and can enhance confidence of users of Islamic finance products and promote growth of demand. This was the conclusion at the AAOIFI-World Bank Annual Conference on Islamic Banking and Finance which was held in Bahrain on 18 & 19 November 2013. The conference also discussed venture capital from an Islamic finance point of view, proposing a model based on a musharaka/partnership arrangement. Moreover, the main types of risks faced by Islamic financial institutions such as non-compliance risks, operational risks, financial risks, and so on were outlined. The conference wrapped up by presenting some guidelines about how AAOIFI standards can be promoted in countries that follow international accounting standards or IFRS.

The Accounting and Auditing Organisation for Islamic Financial Institutions ( AAOIFI ) hosted the two day AAOIFI -World Bank Annual Conference on Islamic Banking and Finance 18-19 November in Manama, Bahrain. Discussions at the conference focused on international accounting standards for Islamic finance, the dynamics of auditing and risks, incorporation of Shari'ah principles in legal documentation, further innovation on Takaful operations and products, and continuing development of Islamic venture capital. Following the Conference, AAOIFI will hold training courses for its Certified Shari'ah Adviser and Auditor (CSAA) and Certified Islamic Professional Accountant (CIPA) professional development programs 20-23 November 2013.

Global Donors Forum 2014
“CELEBRATING PHILANTHROPY IN EMERGING ECONOMIES”
Gaylord National Resort and Convention Center
April 13-16, 2014

CALL FOR PRESENTATIONS
Deadline: December 10, 2013
Dramatic shifts in the political and economic landscape of many low and middle income countries in recent years have resulted in the emergence of a new class of wealthy individuals. This has led to a rapid growth in private and family foundations in many emerging economies. But the benefits of economic liberalization have not always resulted in an equal distribution of wealth, and income disparities have only been exacerbated by the global economic crisis. This surge in social and economic inequality pleads the need and purpose of philanthropy, both individual and institutional, to be re-examined.

No longer is society looking outside their communities and national borders for change. Whereas once, Aid was the only option, now regional philanthropy is increasingly positioning itself as the “game changer”. This sliding dichotomy from Aid to philanthropy has already begun and nowhere is it more pronounced than in the “Emerging Economies”

Ladies and gentlemen,

One of the highlights of this year’s Euro Finance Week is the Frankfurt MENA Finance Conference on November, 21st 2013.

The speakers of the panel ‘What does Germany gain through Islamic Finance?’ are:

Dr. R. Ahmet Albayrak, Executive Vice President, Kuveyt Türk Participation Bank Inc.

Horst Bennin, Founding Managing Partner, Alp View Capital Partners GmbH

Dr. Manfred Dirrheimer, Chairman of the Board, FWU AG

Dr. Johannes Engels, Banking Supervisor for International Cooperation, BaFin

Dr. Ivo Schwartzkopff, Member of the Board, StarCapital AG

The host of this panel will be Zaid el Mogaddedi, Founder and Managing Director, Institute of Islamic Banking and Finance (IFIBAF).

Dr. R. Ahmet Albayrak will deliver a speech about ‘Opportunities in the European Financial Markets’ beforehand in the conference.

The conference language is English.

The event is without charge.

Location:

Congress Center Messe Frankfurt
Ludwig-Erhard-Anlage 1
60327 Frankfurt am Main

If you are interested to participate, please send an e-mail (company/name/e-mail address) to info@kuveytturk.de

Qatar is a major player on the growing global Islamic finance stage which is estimated to be worth, at present, around $1.9 trillion. Qatar’s Islamic banking sector is set to flourish over the next three or four years. Islamic banks currently represent one-quarter of Qatar’s banking system in terms of assets, up from 13% in 2006, and it is expected that they will continue to gain market share. Moreover, infrastructure spending in the run-up to the FIFA 2022 World Cup is expected to spur lending for roads, stadiums and hotels. Qatar’s economy is expected to grow 5.2% next year, the fastest in the GCC. Islamic finance will certainly be one of the many topics discussed at the 9th World Islamic Economic Forum which will be held on 29 – 31 October 2013 at the ExCel London.

The 2nd Annual Islamic Banking Summit Africa (IBSA 2013), which opened today in Djibouti, saw more than 350 leaders in the international Islamic banking and finance industry engage in discussions that focused on capturing the growth opportunity for Islamic finance and Takaful in Africa. The inaugural session of the two day event assessed the progress and development of Islamic finance in Africa and discussed required key government and regulatory initiatives. The keynote plenary session discussed key strategies for capacity building and how to best position Islamic finance as a catalyst for a new wave of economic development in Africa. The Power Debate session discussed key initiatives to strengthen Islamic finance’s links to the real economy in Africa and connect Africa to the broader world of Islamic finance.

Dear Reader,

IslamicFinance.de is still edited by myself, Michael Saleh Gassner. In the same time the website became part of the family's publishing house, Al Kitab.

Myself I moved to Geneva for professional reasons, working as Islamic private banker. IslamicFinance.de remains to be a private passion.

Best regards,

Michael Gassner

More than 250 leading players, key regulators and thought leaders in the international Islamic banking and finance industry will be gathering on the 6th & 7th of November 2013 in Djibouti, for the 2nd Annual Islamic Banking Summit Africa (IBSA 2013). Held under the theme “Islamic Finance and Takaful: Capturing the Africa Opportunity”, IBSA 2013 will provide a platform to specifically focus on the opportunities and challenges that are forging the Islamic banking, finance, Takaful/ReTakaful, and investment landscape in Africa. IBSA will also provide a platform for industry players seeking to further build their presence in the evolving African markets for Islamic finance and to explore emerging opportunities which will further increase the momentum of growth.

The Family Bank took part in the Third Global Islamic Micro-Finance Forum which is organised by the Al-Huda Centre of Islamic Banking and Islamic Economics (CIBE). The two-day forum includes a workshop on "How to Develop, Operate and Sustain Islamic Micro-Finance Institutions", in which a number of experts and consultants are participating. Family Bank, led by the Social Development Minister and Board of Directors Chairperson Dr. Fatima Mohammed Al-Balushi, implements its programmes in cooperation with the Labour Find (Tamkeen). It is the first Islamic micro-finance bank in the Middle East with the prime objective to contribute to poverty alleviation and socio-economic empowerment of the communities by providing sustainable Islamic financial services to the needy.

16th October 13 - 8:00am to 17th October 2013 - 12:00pm
Hosted by the Fung Inst. & Silatech, this conference is the first chance for top thought leaders from the Middle East, Silicon Valley, the Venture Capital community & the academic community to spur innovation, create jobs & encourage entrepreneurship throughout the middle east.

The conference is being generously supported by a donation from Silatech, a Qatar based foundation focused on expanding economic opportunity and jobs in the Middle East. This leading institution is partnering with UC Berkeley to bring in some of the world's top experts in Middle Eastern Entrepreneurship, Innovation, Islamic Finance, Crowdfunding and Accelerators, to discuss the opportunities in the region to develop a thriving culture of entrepreneurship and innovation. This conference will bring together top experts from the region, scholars and venture capitalists and innovators from Silicon Valley to explore how we can work together to create economic opportunity through entrepreneurship in the Middle East.

For more information, please contact Richard Swart: rswart@berkeley.edu

The Islamic Financial Services Board (IFSB) and the Asian Development Bank (ADB) will jointly organise a Conference on Islamic Finance for Asia: Development, Prospects and Inclusive Growth and a Roundtable Session for Regulators on 4 - 5 November 2013 in Manila, Philippines. The Conference will explore issues related to further developing Islamic finance, its current state of progress and challenges, while also seeking to create greater opportunities for interaction and cooperation. The Roundtable Session for Regulators will be organised with the aim to provide a unique opportunity for regulators to discuss and share their experiences, issues and challenges. Interested participants are welcome to register their attendance to the Conference at www.ifsb.org.

Global Islamic Finance is expected to maintain its rapid pace of growth, strengthening its credibility as a real alternative to conventional finance. However, structural problems continue to limit its potential while its growth has made the industry more sensitive to global economic fluctuations. The contrasting fortunes shaping Islamic Finance will be the subject of a conference to be hosted by S&P in Dubai on 2 October, 2013. Prospects for the Sukuk sector will be one of the key focuses of the Conference. Another major theme is the widening sovereign adoption of Islamic Finance instruments. S&P analysts from across the Middle East, Africa, Europe and North America and a panel of senior Islamic Finance industry participants will speak at the S&P Islamic Finance Conference.

The Islamic Financial Services Board (IFSB) and Bangladesh Bank has successfully organised a "Seminar on Prospects and Challenges in the Development of Islamic Finance for Bangladesh" on 23 and 24 September 2013 in Dhaka. The seminar aimed to create greater awareness on the latest developments on the Islamic financial services industry, and to discuss the issues in further augmenting its role in Bangladesh. The meeting consisted of five sessions where recent developments in the Islamic capital market, regulatory frameworks, microfinance among others were discussed. At the end of the one and a half day seminar, IFSB assured Bangladesh Bank of its constant support for the various initiatives to strengthen the Islamic finance in its member countries.