In partnership with
5th December 2023
NGX Conference Centre, Lagos
#IFNNIGERIA2023
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LIMITED / EXCLUSIVE SEATING
About The Forum
Nigeria, Africa’s economic powerhouse, is undeniably the continent’s leader in Islamic finance. Housing a developed financial industry, the West African nation pioneered several Shariah compliant financial instruments, and has built an advanced and holistic regulatory infrastructure for Halal financial products across the banking, capital markets and non-banking finance space.
The Nigerian government has been vocal in its intention to utilize non-interest products in its financial strategy, resulting in it being one of the most active Sukuk issuers in the region. Currently, the local population is being served by three fully-fledged Islamic banks, a couple of Islamic banking windows and a handful of Shariah microfinance institutions. The Islamic investment community is also growing from strength to strength with ambitious players and new products hitting the market.
With its 218 million-strong population and strong government backing, the potential for Islamic finance in Nigeria is immense, particularly in the project and infrastructure realm as well as in line with the government’s financial inclusion drive.
IFN, with the support of the Nigeria Stock Exchange, is gathering national leaders and international experts in Lagos for a day to discuss the opportunities the industry can tap and how best Nigeria can reach its fullest potential to become Africa’s Islamic finance hub.
An Introduction to 2023
We were delighted to be back in the conference rooms in 2022 following a near two-year hiatus, and it seems you were too.
We saw capacity audiences for the UK, Asia and Islamic Sustainable Finance & Investment Forums, and strong numbers everywhere else. We believe 2023 will surpass pre-pandemic numbers in all our core markets.
We have also learned much this past year and will implement the following:
- The Forum format is essential in certain markets, and will remain in London, Muscat and Kuala Lumpur in 2023.
- Our exclusive Dialogues have been warmly welcomed by all those participating and attending, and we will increase this offering in 2023, with events in Dubai, Riyadh, Doha, Jakarta, and Manama.
- Live streaming has not taken off as many expected. However, watching recorded content has skyrocketed — certainly for us anyway. So, all Forums will be recorded and posted online for our global audience within a week of each event.
- But, as our audiences enjoy recorded content, we will be organizing various country and sector ‘OnAir’ events and posting online for all to view.
- Islamic sustainable is big. Our ISFI Forum in Kuala Lumpur in 2022 was outstanding and will remain for 2023. And, with COP28 in the UAE in 2023, we are introducing the ISFI Dialogues, which will be held in Dubai.
We are excited for the new year and look forward to welcoming you to our events and assisting in the continued global growth of the Islamic financial markets.
#IFNFORUMS2023
Forum Agenda
9.00 – 9.05
Welcome Address
9.05 – 9.20
Keynote Address
9.20 – 9.35
Keynote Interview
9.35 – 10.45
Islamic Financial Services in Nigeria – Developing Financial Architecture to Build Comparative Advantage
How can Nigeria ensure the continued development of financial architecture for the creation and support of Islamic financial services, and how does the country maintain competitiveness in the public/private sector funding of SMEs, start-ups, and early-stage businesses? How can Islamic capital market and investment products drive economic growth and increase prosperity in Nigeria? How can the country expand core Islamic financial services, including savings options, pension, and Takaful solutions? Would Islamic finance in Nigeria benefit from the development of specific alternative finance legislation, and if so, what form would this take? Finally, how do we measure and evaluate tangible recent progress achieved by the Nigerian Islamic financial services sector as a whole? We seek the views of an expert panel.
10.45 – 11.45
Islamic Banking and Takaful in Nigeria - Reaching New Heights through Innovation, Transformation and Digitalization
What is an accurate assessment of Islamic banking and Takaful in Nigeria and what is the outlook for the sector? Do domestic prudential regulations allow for the growth of Islamic banking and Takaful? How is technology being applied by Nigerian Islamic financial institutions to improve accessibility to, and convenience of, financial services, and does the digitalization of Islamic financial services allow us to better address sustainability and product authenticity? What funding options are open to Islamic financial institutions, and what liquidity management tools are available? What initiatives or strategies are Nigerian Islamic banks employing to promote financial inclusion, and are banks sufficiently incorporating ESG principles and sustainable practices into their operations, investments and financing activities? We seek the views of an expert panel.
11.45 – 12.15
Coffee and Networking
12.15 – 13.15
Centre of Excellence: Nigeria as a Centre for Innovative Islamic Financial Markets and Structured Finance Products
How can Nigeria fully leverage on its reputation as a regional center for innovative Shariah-compliant transactions and structured finance products? Has the Nigerian Sovereign Sukuk successfully created a benchmark for potential corporate issuers? Do additional Tier-1 Sukuk still offer Islamic financial institutions a flexible and efficient way of satisfying regulatory capital requirements? How do we ensure issuances continue to feature Islamic tranches, and that Islamic finance is a mainstream way of funding large regional projects? What is the continued importance of the structures of Waqf and Tawarruq for structured finance, and how influential are alternatives such as Wakalah? Finally, what role can green, sustainable and sustainability linked capital raising products offer issuers in Nigeria?
13.15 – 14.00
Driving the Development of Shariah Compliant Direct Investment and Fund & Asset Management in Nigeria
How can the success of Shariah-compliant investment funds and trusts in Nigeria contribute to the development of wider, regional Shariah-compliant investment management activities? What asset classes and fund structures are driving growth? What enhancements can be made to the regulatory frameworks of public, private equity and venture capital investment in Nigeria to attract cross-border and foreign direct investment? What are the prospects for Islamic sustainable investing in Nigeria, considering the growing emphasis on ESG principles and sustainability in investment practices?
14.00
Luncheon
Forum Speakers
Advisory Board
Forum Partners
IN PARTNERSHIP WITH
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
IsDB Group Business Forum (THIQAH)
The Islamic Development Bank Group Business Forum (THIQAH) is the window of the IsDB Group that facilitates contact and coordination between entities concerned of the IsDB Group and private sector firms and related institutions in IsDB Group member countries. The main objective of THIQAH is to establish a unique platform for effective dialogue, cooperation and inclusive partnership for business leaders committed to partnering in promising investment opportunities. Through facilitation and catalyst roles, THIQAH will be leveraging the IsDB Group’s resources to offer necessary services and confidence to investors and to establish strategic partnerships with the leaders of the private sector. The primary focus will be on maximizing cross-border investment among member countries to be supported by IsDB Group’s financial products and services. (www.idbgbf.org)
PARTNER
CONSULTANCY PARTNER
Redmoney Consulting
Launched in April 2021, Redmoney Consulting is a new and highly focused advisory firm focusing on global Islamic, Ethical, Responsible and Sustainable Finance. Redmoney Consulting is a logical extension of REDmoney Group, the Islamic finance industry’s leading media house with a truly global audience. In addition to Islamic finance, the Group has steadily increased its coverage of the green and sustainable finance sector as the two markets continue to converge. Redmoney Consulting provides an expansive service allowing its consultants to provide advisory and consulting services at the highest level for the most discerning of clients.
LEAD MEDIA PARTNERS
In The News
IFN Monthly Review: August — More regulatory support
The Sukuk market in Egypt and Pakistan received a boost this month, with the Egyptian government approving amendments to the...
Nigeria: Strengthening the non-interest finance market
The Nigerian Islamic finance and banking industry, widely referred to as the non-interest finance and banking sector…
New guidelines from central bank for Nigeria’s entities converting to non-interest financial institutions
Commercial banks, mortgage banks, microfinance banks and other financial institutions (OFIs) in Nigeria seeking to…
IsDB and partners to mobilize funding for Nigeria’s digital industry
The IsDB has joined a consortium of multilateral and development agencies to launch a program aimed at funding the…
The Previous IFN Nigeria Forum
IFN Africa Dialogue & Report 2022
Africa was the first continent into which Islam spread from SE Asia and is now home to almost one-third of the world’s Muslim population. Although interest in Islamic finance continues to spread across this diverse yet complex continent, it has remained a difficult market to penetrate.
With this in mind, the IFN Africa Dialogue 2022 provided the perfect opportunity to reach the industry’s leaders in a convenient manner.
In collaboration with NGX, we gathered industry leaders to understand the latest developments and opportunities.
We began with a keynote address from Temi Popoola, Chief Executive Officer of the Nigerian Exchange. Patience Oniha, Secretary-General, Debt Management Office Nigeria then delivered an insightful presentation, which was followed by the Dialogue discussion entitled: Islamic & Sustainable Financial Services in Africa: A Golden Opportunity
About REDmoney Events
REDmoney events designs, organizes and hosts industry-leading conferences, forums, roadshows, seminars and dialogues focusing on the Islamic financial markets across a global, regional and national level. Leveraging an exceptional network of the industry’s elite and supported by the expertise of the REDmoney publishing and seminars divisions, REDmoney Events are able to provide access to a unique array of influential speakers, panelists and participants from a cross-section of the global industry to debate the most significant issues affecting the Shariah compliant financial markets.
REDmoney events are differentiated by their complimentary yet qualified attendance structure, ensuring the highest quality of both delegates and contributors. Comprehensive and cutting-edge, attendance ensures exclusive access to the leaders in their field across all sectors and markets.
TThe annual IFN Asia and IFN UK Forums are categorically recognized as their continent’s leading industry events since their inception in 2006 and 2007 respectively. The Dialogues series has also become an integral element of the REDmoney events series and have cemented their position as leading, must-attend, events. In 2022, we introduced the Islamic Sustainable Finance & Investment Forum, which was an enormous success, and will become a mainstay.
For any inquiries contact us
Our team will be glad to answer any questions you may have about this event.