Fatma Cinar
Manager, International Relations, Participation Banks Association of Turkey
A NEW, LIVE, DIFFERENT & EXCLUSIVE EXPERIENCE
26th & 27th October 2020, Online
A NEW, LIVE, DIFFERENT & EXCLUSIVE EXPERIENCE
26th & 27th October 2020, Online
IN PARTNERSHIP WITH
Date: 26th & 27th October 2020
Venue: Online
Attendees: 418
HASHTAG #ifnevents
POST EVENT REPORT
The IFN Forum OnAir Experience
Introducing IFN Forum OnAir, our exclusive online custom-built platform with your convenience in mind. IFN OnAir guarantees your full access to all of the event speakers through our interactive real-time features. Register now to experience IFN Forum OnAir.
- Key features of the IFN FORUM On Air Experience:
- Virtually interactive and engaging online event experience for each attendee
- Experience seamless interactive features — agenda, live Q&A sessions, activity feed, polling and networking among delegates
- Flexible and accessible online capabilities at your convenience, including the option to catch up on missed sessions once you have registered
- A user-friendly interface that is accessible on any of your desktop, tablet and mobile devices — anywhere around the globe
- An exclusive post-event report for all registered attendees
- VIP access and information to our upcoming IFN Forums
About the Forum
Turkey, a vital market for participation finance (Islamic finance) of late, has made plans to introduce new regulations for interest-free finance systems. The country has established three state participation lenders and attached great importance to non-interest finance solutions.
Despite the huge diversification of all alternative financial instruments, the banking sector still accounts for 90% of the financial industry. The country aims to raise the share of participation finance in total banking assets to 15% as of 2025 from its current level of 5%. Turkey still needs a strong economy and a sound financial system.
Forum Agenda
Back-to-Basics: Opportunities for Participation Finance to Flourish in Turkey
The world has changed. How our industry - participation banking, finance and investment - chooses to respond to these changes may be a generation-defining moment. How can participation finance mobilize to address the imminent challenges of the real economy and provide not just liquidity support, but solvency support to the vital Turkish SME and corporate sector? Can participation finance in Turkey and the region use this opportunity to become truly responsible, inclusive and ethical, while at the same time contributing to the country’s growth and development? How can we as an industry ensure this is substance over form on a permanent basis? What opportunities do the UN Principles for Responsible Banking offer participation financial institutions in Turkey? How can the core values of participation finance be further applied to sustainable and socially responsible finance and investment strategies? We ask a respected panel for a new roadmap to success for participation banking, finance and capital markets in Turkey.
Moderator:
Panelists:
Ahmet ilyas Collu
Vice-President, Head of International Banking, Treasury and Strategy Group, Vakif Katilim Bankasi
Kamola Bayram
Assistant Professor, KTO Karatay University
Asst Prof Dr Kinan Salim
Head of Islamic Digital Economy, International Centre for Education in Islamic Finance (INCEIF)
Omer Cekin
Head of Participation Banking Unit, Banking Regulation and Supervision Agency
Osman Karakutuk
Executive Vice President, Ziraat Katılım
Funding, Infrastructure, Asset Management, Capital Markets and Responsible Finance Initiatives in Turkey
With the Republic returning to the market via Euro and dollar issuances in May 2020, we assess what Sukuk can offer Sovereign issuers in challenging market environments. Are Sukuk still a viable option for Turkish banks seeking to enhance liquidity and capital management, while diversifying funding sources? What can technology, particularly tools such as Blockchain, offer capital market and asset management innovation in Turkey? With the Republic issuing its first green Sukuk, how can sustainable and responsible investment make further progress in Turkey and can the UN Sustainable Development Goals be applied to the Republic’s participation finance and investment activities? Are social bonds an opportunity for the country? What’s a realistic latest assessment of the pension fund industry in Turkey and how can the participation finance industry play a role? Lastly, we examine the country’s infrastructure requirements in the coming years and ask what can be funded through Shariah compliant facilities, how can risk be effectively managed and do public/private partnerships offer a viable opportunity?
Moderator:
Tarik Akin
Division Director (Islamic Finance), Finance Office of the Presidency of the Republic of Turkey
Panelists:
Alaa Alaabed
Chief Research Officer, Wethaq Capital Markets
Leilya Shamel
Associate Director, DDCAP
Dr Sutan Emir Hidayat
Director of Islamic Economy Supporting Ecosystem, National Committee of Islamic Finance
Tarık Borekci
Vice-President, Head of Treasury, Treasury & Strategy Group, Vakif Katilim Bankasi
Wail Aaminou
Group Chief Executive Officer, Al Maali Group
Advisory Board
Burak Gençoğlu
Partner, Gençoğlu & Ergün Law Firm
Fatma Cinar
Manager, International Relations, Participation Banks Association of Turkey
Kamola Bayram
Assistant Professor, KTO Karatay University
Dr Tawfik Azrak
Faculty of Islamic Studies, Social Sciences University of Ankara
PARTNERS
MULTILATERAL STRATEGIC PARTNERS
The Islamic Corporation for the Development of the Private Sector (ICD)
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and is part of the Islamic Development Bank (IDB) Group.
The ICD was established in November 1999 to support the economic development of its member countries through the provision of finance for private sector projects, promoting competition and entrepreneurship, providing advisory services to governments and private companies and encouraging cross-border investments.
The ICD has an authorized capital of US$4 billion. Currently, the shareholders of the ICD are the IDB (50%), 53 Islamic countries (30%) and five public financial institutions (20%).
ICD mandate and objectives
The ICD fosters sustainable economic growth in its 53 member countries by:
- Financing private sector investment
- Mobilizing capital in the international financial markets, and
- Providing advisory services to business and governments.
The ICD selects the financing projects based on their contribution to economic development considering factors such as job creation, Islamic finance development, contribution to exports, etc. The ICD also provides advisory services to governments and private sector groups on policies designed to encourage the establishment, expansion and modernization of private enterprises, the development of capital markets, best management practices and to enhance the role of the market economy. The ICD operates to complement the activities of the IDB in member countries.
The ICD is rated ‘AA/FQ’ by Fitch Ratings, ‘Aa3/P-1’ by Moody’s Investors Service and ‘A+’ by Standard & Poor’s.
FOR MORE INFORMATION
Tel: (966-12) 6361400; (966-12) 6441644
Fax: (966-12) 644 4427
Email: [email protected]
Website: www.icd-ps.org
The Islamic Corporation for The Insurance Of Investment And Export Credit (ICIEC)
Established 26 years ago in 1994 as a multilateral institution and a member of the Islamic Development Bank Group, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) was tasked to promote cross-border trade and foreign direct investments in its member countries.
The ICIEC’s mission is to make trade and investment between member countries and the world more secure through the Shariah compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in member countries.
The ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions.
Today, the ICIEC supports trade and investment flows in 47 member countries spanning across Europe, Asia, the Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as export credit agencies and insurers.
International Islamic Trade Finance Corporation
The International Islamic Trade Finance Corporation (ITFC) is a member of the IDB Group. It was established with the purpose of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socioeconomic conditions of the people across the world. The ITFC commenced operations in January 2008 and has since consolidated all trade finance businesses that used to be handled by various windows within the IDB Group. Earning an ‘A1’ rating from Moody’s Investors Service reflects the ITFC’s efficiency in service delivery by responding swiftly to customer needs in a market-driven business environment.
Since 2008, the ITFC has provided more than US$40.2 billion of trade financing to OIC member countries, making it the leading provider of trade solutions for the needs of OIC member countries. With a mission of being a catalyst for trade development among OIC member countries and beyond, the ITFC helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.
Contact us at:
Twitter: @ITFCCORP
Facebook: @ITFCCORP
Linkedin: International Islamic Trade Finance Corporation (ITFC)
Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: [email protected]
Website: http://www.itfc-idb.org/en
STRATEGIC PARTNER
Capital Markets Malaysia
As part of its mandate to develop the capital market, the Securities Commission Malaysia (SC) set up the Capital Markets Promotion Council in 2012 to strengthen its internationalization agenda for Malaysia’s capital market. In 2014, the SC launched Capital Markets Malaysia (CMM) to spearhead both the local and international positioning and profiling of the Malaysian capital market with its wide range of conventional and Islamic products, supported by a strong governance infrastructure. CMM profiles the competitiveness and attractiveness of the various segments of the capital market via a comprehensive and integrated approach to increase international participation and enhance opportunities for Malaysian capital market intermediaries.
PARTNERS
Carrera Learning
Carrera Learning is an innovative e-learning platform enabling users and companies to build their Islamic finance capabilities. We have extensive experience working with world-class financial institutions and organizations as well as professionals.
The Carrera Learning platform is part of Islamic Finance Navigator.
DDCAP Group
Founded in 1998 and headquartered in London, with an office in Dubai and a presence in both Saudi Arabia and Malaysia, DDCAP is a leading provider of asset facilitation services and financial technology and system solutions across a diverse range of Shariah compliant products, asset classes and instruments in both the primary and secondary markets. DDCAP’s wholly-owned subsidiaries include DD&Co and DDGI. DDCAP has an extensive track record within the Islamic finance industry, employing over 35 professionals with broad and complementary skill sets drawn from diverse financial industry backgrounds, focused principally on providing service to Islamic financial market participants around the world. DDCAP has its own Shariah supervisory board comprising esteemed Shariah scholars from Saudi Arabia, Malaysia and Kuwait. DDCAP’s multi-award-winning Shariah compliant ETHOS Asset Facilitation Platform is a bespoke, real-time trade and post-trade services platform providing 24-hour coverage, enabling clients worldwide to purchase from a diverse asset inventory, including commodities, via a secure, web-based portal.
Eiger
Eiger Trading Advisors (Eiger) is a UK-based asset-trading and technology company founded in 2008, which specializes as an intermediary in Islamic financial products.
As a leading intermediary and technology provider within the commodity Murabahah space, Eiger has the unique capabilities to deliver Shariah compliant commodity trading solutions through the Eiger Trading Platform (ETP), a web-based trading system, that we tailor to our bank clients’ exact operational requirements.
The ETP automates the structuring and execution of Islamic banking products for wholesale and retail commodity-backed transactions, including two new enhanced modules:
- ETP Retail – A 24/7 STP platform designed to automate the end-to-end commodity Murabahah transactions underpinning retail banking products such as deposits, loans, CASA, credit cards
- ETP Client Reach – A bespoke middle and back office module designed to streamline Islamic treasury and derivative transactions, including execution and documentation with our clients’ clients.
Eiger is authorized and regulated by the UK’s Financial Conduct Authority, and is both a member of the London Metal Exchange and an associate of the London Platinum and Palladium Market.
IdealRatings
IdealRatings was incorporated in 2006 in San Francisco with a corporate objective to provide SRI/ESG and Shariah compliant solutions to ethical investors and enable them to identify such instruments across different asset classes in the global market. IdealRatings serves clients in over 30 countries with a range of capital market solutions including:
- Equities – A web-based platform covering over 40,000 stocks, where fund managers can screen equities using different, custom-built ESG/SRI/Responsible Investments and Shariah rulebooks or guidelines. This solution caters to different purification calculation methodologies with a comprehensive set of reports for fund managers to manage their portfolio.
- REITs – Global coverage of all listed REITs that could be screened in accordance with different standard Shariah rulebooks or guidelines.
- Indexes – Co-branded and jointly marketed by FTSE-Russell Indexes and a separate series with Thomson Reuters for the global markets, designed for fund management and investment benchmarking. In addition, IdealRatings is able to provide custom-built indexes for the fund management industry.
- Sukuk – A unique solution which includes the global Sukuk and a pioneering Sukuk-screening solution that enables fund managers to customize their Sukuk selection in accordance to their Shariah rulebook, guidelines or investment preference, and
- Brokerage – The solution provides broking houses the ability to screen global equity markets, a technical analysis of the markets and equities, buy/sell/hold recommendations and purification amounts.
Moody’s Investors Service
Moody’s is a global risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions and fair access to information open the door to shared progress.
TECHNOLOGY PARTNER
Codebase Technologies
Codebase Technologies builds modern digital banks, developing application programming interface-driven technologies to deliver new customer experiences. Supporting institutions with cloud-agnostic digital-ready solutions, it operates as a research and development think tank that enables any business to pursue their ambitions for a seamlessly integrated, lifestyle-enhancing digital financial experience at a fraction of the time and cost.
Its highly robust and scalable open architecture framework and flagship platform ensemble, Digibanc™, the most comprehensive one-stop shop ‘bank in a box’, gives Codebase Technologies the key to unlock the true potential of the new-era digital financial ecosystem.
With solutions encompassing customer onboarding, middleware, payments, asset management and channel deployments, Codebase Technologies provides the expertise that allows your business to focus on what’s important — the customer.
Codebase Technologies operates across ASEAN, the GCC and Australia, providing proprietary technology products and advisory services to institutions looking to challenge the next digital frontier.
Last Visit to Istanbul
Date: 9th September 2019
Venue: Shangri-La Bosphorus, Istanbul
Attendees: 122
Speakers: 28 Speakers
Following extensive research, we have taken the bold move to transform the annual IFN Turkey event from the standard ‘Forum’ setting to one of exclusive, interactive and hugely development focused Dialogues. This is where the future of events lies:
Objectives of the Dialogues
Organised to a somewhat different format from our previous IFN Turkey Forums, the IFN Turkey Dialogue will provide market players with an opportunity to come together and discuss how to advance and develop the participation finance industry in Turkey. The longer sessions – each session is 90-minutes – will enable participants to share in-depth analysis, experiences, information and views that may be more appropriately discussed in a smaller, more exclusive environment. The Dialogues will also allow market players and regulators to provide bi-lateral feedback and suggestions on how the participation industry can be taken forward: what steps should be taken by regulators and how market players can assist.
Mufit Arapoglu-turkey18
Having attended the IFN conference every year for the last five years, I was very pleased to see the interest from various market players both from Turkey and the rest of the world. As discussed in the panel session that I participated in, there are various opportunities in the market to use Sukuk as an alternative financing tool. Yes, we also have some difficulties along the way but we will get there. This year’s event was another strong testimony of it!
Mufit Arapoglu
Partner, Balcioglu Selcuk Akman Keki Attorney Partnership
Dr Cigdem Ayozger Ongun -turkey18
A great event, packed with so much knowledge and great speakers, I am honored once again to be part of the event as a speaker. I had the chance to discuss all the aspects of the fintech industry from regulation to technology.
Dr Cigdem Ayozger Ongun
Founder – Managing Director, SRP Legal
Leilya Shamel -turkey18
I did enjoy the event and networking during the breaks. Thank you for your kind invitation and support. I found the event very timely given the developments in Turkey and the forum has managed to address those issues not only in the country but also in the geopolitical context.
Leilya Shamel
Associate Director, Business Development, DDCAP
Dr Menevse Ozdemir Diliduzgun -turkey18
It was a great experience for me. In addition, I had the chance to meet very experienced business partners at the event. Thank you for your great effort and congratulations on your success. I will be glad to participate in the event as a speaker next year and looking forward to hear about your progress.
Dr Menevse Ozdemir Diliduzgun
Vice-President, Debt Capital Markets Advisory, Halk Invest
Esma Karabulut -turkey2019
The event provided excellent ideas regarding potential opportunities and development areas in Islamic finance for moving forward. It covered the right topics, variety and quality of selected panelists and provided a networking opportunity. I am honored to be part of the event as a speaker and had an opportunity to discuss my views on the growth of the Sukuk market and Islamic capital market instruments and also the necessary steps to be taken in Turkey.
Esma Karabulut
Assistant VP of Investment Banking, Turkiye Emlak Katilim Bankasi
Dr Cigdem Ayozger Ongun -turkey2019
Many thanks to IFN and Redmoney for organizing such a successful international event in Istanbul. The event provided participants the insights on the latest developments relating to the Islamic finance as well as fintech environment, challenges and opportunities including laws and regulations in Turkey. It was a great pleasure to participate in such a highly informative and interactive event.
Dr Cigdem Ayozger Ongun
Founder, SRP-Legal
Oguz Aktuna -turkey2019
Congratulations for the successful event in Istanbul. The venue was excellent and the topics were well chosen, addressing issues facing the Islamic finance industry in Turkey. The format of the Dialogues allowed the moderators, the speakers and the audience to interact and the time dedicated was sufficient to cover the issues comprehensively.
Oguz Aktuna
Senior Country Manager, ICIEC Headquarters, The Islamic Corporation for the Insurance of Investment & Export Credit
Abdullah Altinkaya-turkey2019
The event has served as an excellent opportunity which allowed us to reach and network with our target audience. We had the chance to discuss and keep abreast of industry-specific topics related to the development of Islamic finance in Turkey.
Abdullah Altinkaya
Financial Institutions Manager, Financial Markets Department, Ziraat Participation Bank
Dilan Pamir-turkey2019
IFN Dialogues provide a valuable platform to share experiences, ideas and also to expand our network. Also, the new format in 2019 enabled constructive discussions. Thank you very much to the REDmoney team.
Dilan Pamir
Senior Vice-President, Capital Markets, Investment Banking at Turkiye Kalkinma ve Yatirim Bankasi
Mine Sule Yazgan-turkey2019
I found the event very informative and insightful about the current situation and future of participation banking in Turkey. It has also been great to engage with professional colleagues.
Mine Sule Yazgan
Credits and Banking Relations Director/Finance Director, Yildiz Holding
Ozge Konukcu-turkey2019
It has been a great pleasure for us to take part in IFN Turkey Dialogues 2019. The event was very successful and beneficial for discussing and elaborating on Islamic finance in general with a particular focus on its implementation and expected growth in Turkey. Panels held during the event, with distinguished individuals representing different actors in the finance market, were very efficient and dynamic platforms for exchanging experiences, thoughts and views on Islamic finance in general, specific products and its implementation in Turkey.
Ozge Konukcu
Partner, YAK Attorney Partnership