08:00 – 09:00
Registration
09:00 – 09:10
Welcome Address
Dr. Abdulrazak Faris Alfaris – Chief Economist, Economic Policy & Research Centre, Dubai Economic Council (DEC)
09:10 – 09:25
Opening Keynote Address: Advancing the Sustainable Development of Islamic Finance in Africa
Ibrahim Shoukry – Director, Financial Institutions Development Department, Islamic Corporation for the Development of the Private Sector
09:25 – 10:10
Session One: Islamic Finance in Africa: Current Developments and Future Growth
- Africa’s evolving political landscape and its impact on the development of Islamic finance in the continent
- Can a standard Islamic banking strategy be applied to the region? – Addressing the perception that a one-size-fits-all approach will succeed in Africa
- Significance of first mover advantage by Africa’s central banks in gaining traction and market share
- Financial inclusion: Overcoming the issue of lack of awareness of Islamic finance amongst Africa’s massive unbanked population
- Examining notable African deals in 2013 and why they succeeded
Neil Miller – Global Head of Islamic Finance, Linklaters
Panelists:Ijlal Alvi – Chief Executive Officer, International Islamic Financial Market
Mohammad Kamran Wajid – Chief Executive Officer, Emirates Financial Services and Emirates NBD Capital
Wasim Akhtar Saifi – Global Head of Islamic Banking, Consumer Banking & Chief Executive Officer, Standard Chartered Saadiq, Malaysia
10:10 – 10:25
Presentation: Government of Senegal US$ 200 million Sovereign Sukuk
Zakiyoulahi Sow – Sukuk Project Manager, Islamic Corporation for the Development of the Private Sector, IDB Group
10:25 – 10:40
Case Study: SAMIR US$200 million Syndicated Structured Murabahah Financing
Mourad Bouzrouri – Corporate & Structured Finance Manager, International Trade Finance Corporation (ITFC)
10:40 – 11:10
Networking Break
11:10 – 11:55
Country Roundtable: Future Outlook for Africa’s Leading Islamic Investment Destinations
- Prospects for sovereign and corporate Sukuk issuances by African nations and what its absence signifies to the industry
- Evaluating Senegal’s key advantages and Nigeria’s rapid development in becoming West Africa’s Islamic finance center
- Advancing Islamic finance in sub-Saharan economies – current developments and future outlook in key emerging markets
- South Africa’s unique advantages in attracting inflow of foreign direct investments – regulatory stability, developed infrastructure, sophisticated banking system
- Kenya: Overcoming lack of funding and political stability in developing its massive potential in the Islamic finance space
- Outlook for Islamic finance in East and Southern Africa: Tanzania, Zambia, Namibia
Faizal Bhana – Senior Associate, Trowers & Hamlins
Panelists:Rodney Mkansi – Deputy Director, Liability Management, National Treasury of South Africa
Taofiq Agbaje – Managing Director, Lotus Capital Financial Services, Nigeria
Zafrullah Khan – Group Managing Director, Chase Bank, Kenya
Zakiyoulahi Sow – Sukuk Project Manager, Islamic Corporation for the Development of the Private Sector, IDB Group
11:55 – 12:40
Session Two: Islamic Project and Infrastructure Financing: Regulations, Structures and Opportunities in Africa
- Addressing the disconnect between the need for project and infrastructure funding and the availability of Shariah compliant funding instruments
- Syndicated financing of infrastructure projects – do the opportunities outweigh the risks?
- Balancing the need for innovative product structures with effective governance of regulatory and Shariah risks
- Addressing the need for adequate capital support and risk management capabilities to advance project Sukuk issuances by African corporate
- Regulatory update: Proposed regulations and how these will impact Sukuk issuances and transactions
- Using Islamic infrastructure financing as a catalyst for cross border financing in Africa: Assessing opportunities and overcoming legal complexities
- Utilizing Sukuk for project and infrastructure financing: Lessons learnt from mature markets: Malaysia, Turkey, UAE
Michael Grifferty – President, The Gulf Bond and Sukuk Association
Panelists:Mehmet Fatih Bulac – Vice President, Financial Institutions & Islamic Syndications, Turkiye Finans Katilim Bankasi A.S.
Salman Ahmed – Partner, Head of Islamic Finance MENA, Trowers & Hamlins
Samad Sirohey – Managing Director, Citigroup and Chief Executive Officer, Citi Islamic Investment Bank
Sohail Zubairi – Chief Executive Officer, Dar Al Sharia Legal & Financial Consultancy, Dubai Islamic Bank
12:40 – 14:00
Lunch
14:00 – 14:40
Retail Roundtable: Developing a Sustainable and Dynamic Islamic Retail Banking, Wealth Management and Microfinance Market
- Financial inclusion: Reaching Africa’s massive unbanked population through Islamic retail banking services
- Assessing the potential for Shariah compliant retail banking in Africa – growth opportunities in key markets
- Islamic wealth management: Growth potential and challenges faced in African markets
- Catering to a growing market: What can Islamic finance offer the wealth management sector?
- Challenges faced by Islamic retail banks – stiff competition, Shariah concerns, distribution channels and innovative product structures
- Islamic microfinance in Africa – outlook for key markets, role of multilateral agencies, opportunities and challenges
Prof Dr Shahinaz Rashad – Vice Chairman, Metropolitan Group, Egypt
Panelists:Kashif Naeem – Executive Vice President & Group Head – Retail & Microfinance, Bank of Khartoum, Sudan
Rajal Vaidya – Consumer Banking Director, Barclays Africa
Wasim Akhtar Saifi – Global Head of Islamic Banking, Consumer Banking & Chief Executive Officer, Standard Chartered Saadiq, Malaysia
14:40 – 15:05
Exclusive Interview: Questions to Leading Standard Setting Figures in the Islamic Financial Market
Moderator:
Jawad I. Ali – Managing Partner, Middle East Offices, King & Spalding
Panelists:Ijlal Alvi – Chief Executive Officer, International Islamic Financial Market
Dr Khaled Al Fakih – Secretary General & Chief Executive Officer, AAOIFI
15:05 – 15:20
Presentation: The Global Takaful Industry: Current Developments and Future Trends
Sohail Jaffer – Deputy Chief Executive Officer, FWU Global Takaful Solutions
15:20 – 15:50
Session Three: Initiatives and Developments in Takaful and Re-Takaful
- Addressing the need for regulatory bodies to strengthen supervisory roles to protect stakeholders in the Takaful Industry
- Key product growth segments in the Takaful markets: How can African nations increase market share
- Challenges facing the African Takaful industry – lack of actuarial and ratings knowledge, expertise and human capital, high rate of default
- Sukuk and the investment opportunities it presents for Takaful operators
Sohail Jaffer – Deputy Chief Executive Officer, FWU Global Takaful Solutions
Panelists:Dawood Y Taylor – Senior Regional Executive-Takaful, Middle East, Prudential Corporation Asia
Mian Mohammed Nazir – Senior Vice President & Head of Legal, Dar Al Sharia
Sameeulhaq Thanvi – Managing Director, Tokio Marine Egypt Family Takaful
15:50 – 16:10
Networking Break
16:10 – 16:55
Session Four: Advancing North Africa’s Entrance into the Islamic Finance Market – Laying the Groundwork for Long Term Growth
- Establishing Casablanca as North Africa’s Islamic finance hub: Does Morocco have the political will to succeed
- Egypt’s success story – first mover advantage, supportive regulatory efforts and active market players
- Tunisia: Overcoming political instability and regulatory impediments in developing Shariah compliant banking services
- Pursuing investment flows from key trading partners: How can North Africa distinguish itself from its competitors
- Capitalizing on Libya’s oil wealth and sovereign wealth funds in enhancing its position as an attractive Islamic investment destination
- Outlook for sovereign and corporate Sukuk issuances in 2013: What’s in the pipeline for Morocco, Tunisia, Sudan and Libya
Moinuddin Malim – Chief Executive Officer, Mashreq Al Islami
Panelists:Emad El Sahhar – General Manager, Islamic Banking Sector, Banque Misr
Farid Mohamed Masmoudi – Global Head of Business Development and Partnerships, Islamic Corporation for the Development of the Private Sector, IDB Group
Mohammad Farrukh Raza – Managing Director, IFAAS
16:55 – 17:40
Investors Roundtable: Developing Africa as an Islamic Investment Destination: Opportunities and Challenges
- Pursuing investment flows from Europe and the GCC: Crucial considerations for regulators and market players
- The crucial role of multilateral agencies and central banks in building investor confidence in Africa
- Attracting foreign demand for domestic issuances – what foreign investors are looking for
- Investment mandates and options for Takaful funds: effectively managing investment risk and maximizing returns
- Addressing the need for the development of a secondary tradable market for domestic Sukuk
- What the future holds for Africa’s Islamic investment sector – growth prospects, new markets and product trends
Mohamed Hamra-Krouha – Partner, Clifford Chance
Panelists:Asim Khan – Managing Director, Khalij Islamic
Cassim Docrat – Director, DDCAP (DIFC)
Dr Hatim El-Tahir – Director, Islamic Finance Group, Deloitte
Dr Muhammad Al-Bashir Muhammad Al-Amine – Group Head – Shariah Assurance, Bank Alkhair
17:40 – 17:50
Chairperson's Closing