17th October 2022, Muscat
#IFNOMAN2022
WE ARE GOING LIVE IN
300 / Available Seats
About The Forum
The 7th annual IFN Oman Forum, in collaboration with key local regulators and the leading Islamic financial institutions and intermediaries, returns in 2022 to provide exclusive access for industry experts, potential investors and leaders from around the region to further develop the market.
Oman is a leading force in the local and regional Islamic finance space, spanning all sectors and products, and it continues to flourish. With a stringent regulatory infrastructure, industry players are assured of support from the authorities, and the market remains open to expansion and improvement.
Although still relatively new to the Islamic finance and banking industry relative to the other GCC countries, Oman now boasts total Islamic assets of USS$14.7 billion, an impressive 15.16% of the total assets of the country’s banking sector.
An Introduction to 2022
2022 – READY TO REBOOT
The past two years have been difficult for many. For the first time in almost a century, the world ground to a halt, meaning minimal physical interaction, and a shuddering halt to B2B events as we knew them.
At REDmoney, we went online, building a new platform allowing us to deliver virtual events to our readers and followers around the world. And, although OnAir events don’t allow for face-to-face meetings and that personal interaction we all enjoy, there’s very much a place for them moving forwards, and this is recognized through the IFN OnAir Roadshow visiting a series of key markets in 2022.
However, with the opening of core markets and people returning to offices, we’re delighted to announce our 2022 physical Forum line-up too.
And, with our exclusive OnAir platform and the REDmoney.live portal, all physical forums will also be aired live to a global audience. This means larger audiences and greater participation, which is great news for all involved.
We begin with our coveted Awards Ceremonies in Dubai and Kuala Lumpur, serving their respective markets, followed by events in Nigeria, United Arab Emirates, United Kingdom, Malaysia, Indonesia, Oman, and Saudi Arabia.
#IFNFORUMS2022
Forum Agenda
9.00 – 9.05
Welcome
9.05 – 9.15
Welcome Address
9.15 – 9.25
Keynote Address
9.25 – 10.30
Omani Islamic Financial Services: Momentum and Success
How are the key features of Oman Vision 2040 enabling growth of the Islamic banking and finance markets in Oman? How have successful regulatory initiatives contributed to Oman’s Islamic banking sector constituting more than 15% of the total banking market share? Will the new domestic Islamic banking landscape ultimately lead to enhanced product offerings and customer experience? Considering recent regulatory amendments to healthcare Takaful, how will the Omani Takaful sector continue to develop, and do Sukuk offer a viable funding route for Takaful companies? How will Shariah compliant financial technology, including the new crowdfunding platforms, further contribute to the transformation of the domestic financial services sector? Finally, now how significant will green and responsible finance be in the coming year for the domestic Islamic financial services sector?
Panelists:Asad Qayyum, Managing Partner, MAQ Legal
Saif Shawqi, Associate Director – Islamic Finance, Fitch Ratings
10.30 – 11.20
Building a Nation: Funding National Development through Islamic Finance
With Islamic real estate finance well established in the Sultanate, what is the scope for complex project and asset financing in Oman via Shariah compliant structures? Do Islamic products effectively lend themselves to fund public-private partnerships for the development of infrastructure and large-scale projects? What role should Islamic banks and venture capital play in this important activity, and what does the diminishing Musharakah structure offer? How will draft Sukuk and bond regulations further improve and standardize rules governing the issuance of Sukuk? Will regulations pave the way for the incorporation of innovative structures such as Waqf? With significant domestic institutions successfully accessing the Islamic finance market, what is the potential for other notable issuers? Finally, what funding options do Sukuk offer Omani financial institutions in terms of regulatory capital?
Panelist:Peter Tavener, CFO/COO, Beehive P2P
11.30 – 12.00
Coffee
12.00 – 12.50
Digitalization and the Evolution of Omani Islamic Financial Services
Identifying and evaluating key governmental initiatives designed to modernize and digitally transform the national economy, including the Islamic financial services sector. What measures would assist domestic Islamic banks in the further development of Islamic digital retail, wealth management, Takaful and pension offerings in Oman? How are regulator-fostered sandboxes contributing to the development and distribution of such products? How have efforts to recognise and regulate Islamic crowdfunding platforms created opportunities for the joint ownership of Shariah compliant assets and investment projects? Will the vital SME sector benefit from the new platforms?
12.50 – 13.40
Funding the Future: Islamic Sustainable Finance and Investment
What does the transition to green and sustainable financing potentially mean for Omani issuers, and how will Islamic structures play a meaningful role in the shift? What opportunities are there for important domestic sectors such as aviation, oil and gas and other asset-heavy industries to adopt sustainable fundraising programs? What is the potential for private sector financing of green infrastructure projects in Oman? How market friendly is the Omani regulatory framework for sustainable finance and are market participants being encouraged to develop effective sustainability frameworks? Finally, how can Omani financial institutions develop effective Islamic sustainable investment products, satisfying the requirements of a range of savers and investors.
Panelist:Mourad Ali Mizouri, Manager, Business Development, The Islamic Corporation for the Insurance of Investment and Export Credit
13.40 – 14.30
Generational Shift: Digital Assets and the Omani Financial Services
What are the potential uses and applications of digital assets and cryptocurrencies in Oman’s financial markets today? How are digital assets and cryptocurrencies bought, sold, listed and traded, and what roles do exchanges and intermediaries play? What are Initial Coin Offerings and Initial Exchange Offerings, what is tokenization and how are Stablecoins, utility tokens and equity tokens potentially applied to domestic financial products and markets? What are the key risks and issues surrounding digital assets and cryptocurrencies, and what is the role of regulators in the developing an efficient digital marketplace in Oman? Finally, what is the potential for new and structured products based on cryptocurrencies for the Omani market: ETFs and complex leverage mechanisms such as DeFi (decentralized finance)?
14.30
Luncheon
Forum Keynotes
Forum Speakers
Asad Qayyum
Managing Partner, MAQ LegalAsad Qayyum is a highly skilled dual-qualified corporate and commercial lawyer with extensive multi-jurisdiction experience in a number of sectors of the law, including in relation to capital markets, funds, conventional and Islamic finance, mergers and acquisitions, natural resources (oil, gas and mining) and project finance transactions.
Asad is qualified as a solicitor of the Senior Courts of England and Wales, a barrister of England and Wales and an advocate of the High Courts of Pakistan and has over 22 years of experience advising on a broad range of transactions during his time in the UK, Sultanate of Oman and Pakistan. Asad has particular expertise in advising sovereigns and sovereign-owned companies and listed and private companies with respect to their debt and equity capital market financings (conventional and Islamic), registration of funds (including real estate investment funds, acquisitions and disposals of hydrocarbon assets (onshore and offshore) and negotiating clients’ commercial (oil and gas) contracts across the globe (including in the UK, Oman, Canada, the Middle East, Pakistan, Cameroon, Tanzania, Namibia, Burundi, Benin, Cameroon, Nigeria and Kazakhstan).
Mourad Ali Mizouri
Manager, Business Development, The Islamic Corporation for the Insurance of Investment and Export CreditMourad Mizouri, a graduate in international trade from IHEC Carthage University, Tunisia, has 20 years of diverse experience in the banking and insurance industries. He has a Master’s degree in banking from IFID Tunisia and a diploma in Islamic finance from the Institute of Islamic Banking and Insurance in the UK.
Mourad joined the Islamic Corporation for the Insurance of Investment and Export Creditin 2008 as a commercial underwriter and then he moved to the Business Development Department where he served in many functions until he became the manager of the MENA Senior Division. Before that, he served six years as a financial analyst in the Central Bank of Tunisia.
Mourad is a board member in one of the African Islamic financial institutions and is among the founding team of the AMAN UNION association, a union of commercial and non-commercial insurers from the OIC member countries, that was established in 2009 in Lebanon.
Peter Tavener
CFO/COO, Beehive P2PPeter Tavener is part of the founding strategic management team at Beehive where he is the group COO and CFO. Beehive is the GCC’s first digital lending marketplace for SMEs that connects creditworthy businesses with smart investors. Peter is focused on regional expansion and strategic partnerships.
Prior to Beehive, Peter was the managing director at BDO Corporate Finance in the Dubai International Financial Centre which he co-established in 2009. He is a recognized speaker on fintech and regulatory frameworks and is a mentor to a number of tech start-ups in the UAE. Peter is a fellow of the Institute of Chartered Accountants in England and Wales.
Saif Shawqi
Associate Director - Islamic Finance, Fitch RatingsSaif Shawqi works as an Associate Director in the Islamic Finance Group at Fitch Ratings. Based in Dubai, his role focuses mainly on rating new as well as existing Islamic finance entities and transactions. He also monitors the credit developments affecting the Islamic finance industry and supports the team on research pieces across a range of industry-relevant topics.
Prior to joining Fitch, Saif worked at Al Baraka Banking Group as the Head of Section- Credit & Risk Management, where he was responsible for the credit analysis of financial institutions & sovereigns in the Middle East and Africa (MEA) region. Saif is a CFA charter holder and holds a bachelor’s degree in banking & finance from the University of Bahrain.
Forum Partners
LEAD PARTNER
Bank Nizwa
Bank Nizwa started operations in January 2013 to offer the people of Oman a unique banking experience that combines Shariah compliant products and services with today’s dynamic financial requirements. Bank Nizwa’s strategy was built on innovation, service excellence and continuous development and growth. Catering to the people of Oman with an unmatchable banking experience, Bank Nizwa effectively combines Shariah compliant products and services with today’s dynamic financial needs.
Closing in on six years as Oman’s go-to reference of Islamic finance and banking, Bank Nizwa has witnessed steady growth in its customer base as more people seek an alternative solution to conventional banking. With the concept of Islamic banking gaining momentum in Oman, Bank Nizwa continues to offer reliable competitive propositions for customers looking to lead financially-secure lifestyles.
In tandem with its ongoing strategy to bring Islamic banking to customers’ doorsteps and fingertips, the bank currently offers a suite of financing, savings and investment products for individual customers. The bank has also expanded its services to cater to SME, corporate and commercial customers, while providing tailored products for the segments of investment banking and global markets. With innovation at the forefront of its successful operations, Bank Nizwa has been consistently introducing forward-thinking products and services such as its online and mobile banking solutions.
To date, Bank Nizwa has focused on expanding its reach across the Sultanate and raising awareness on the benefits of Islamic finance with a network of 13 branches located in Qurum, Al Ghubrah, Al Khoudh, Nizwa, Ibra, Sumail, Sohar, Salalah, Sur, Barka, Buraimi, Ma’abela and Al Khuwair.
Guided by the principles of Shariah and a firm dedication to give back, Bank Nizwa has taken a leading role in promoting the social development of local communities. Since its inception, Bank Nizwa’s Masoliyati program has successfully served as a volunteering platform founded under the theme of ‘Responsibility’.
The bank’s long list of awards includes more than 25 local, regional and international awards over the years, including the ‘Strongest Islamic Retail Bank’ award in the Sultanate at the Islamic Retail Banking Awards 2018 for the fourth consecutive year, the ‘Islamic Bank of the Year’ award by the leading Corporate Livewire Finance Awards and the ‘Excellence in CSR in Islamic Finance’ award at the regional Corporate Social Responsibility in Islamic Finance Conference and Awards ceremony, to name but a few.
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)
ASSOCIATE PARTNER
Al Busaidy Mansoor Jamal & Co (AMJ)
AMJ’s award-winning Islamic finance practice provides clients with advice and representation on a broad spectrum of Islamic finance transactions (including capital market transactions), regulatory frameworks and products.
The dedicated Islamic finance team comprises international lawyers who have advised on numerous high-profile and innovative transactions in Asia, the Middle East and Europe. The team combines technical expertise in conventional financing with a deep understanding and commitment to the principles and mechanics of Shariah compliant instruments and transactions. They have the experience and know-how to structure and implement complex investment, finance and debt capital market transactions which meet both Shariah and/or conventional banking requirements and also satisfy regulatory requirements. The practice is fully integrated with our internationally-ranked finance and capital market practices, giving it unrivaled depth in the market.
The team has advised governments, corporates, Islamic and conventional financial institutions, banks and funds on Sukuk, funds, structured products and securitization and project financing using the entire spectrum of Shariah compliant instruments.
PARTNERS
Fitch Ratings
Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, an industry-leading provider of credit risk, debt investment, and strategy and forecasting solutions; Fitch Learning, a preeminent training and professional development firm; and Fitch Ventures, a strategic venture investment vehicle. With dual headquarters in London and New York, Fitch Group is wholly owned by the Hearst Corporation.
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.
MAQ Legal
MAQ Legal (Al Maamary, Al Abri & Co) is a full-service law firm headquartered in Muscat with a focus on advising local and international clients on corporate and commercial, capital markets, banking and finance, energy, project finance and dispute resolution matters. The firm comprises market-leading and award-winning lawyers with over 50 years of experience who have advised on some of the most innovative transactions in Oman.
MAQ Legal was founded on the core belief that the best way to serve clients is by developing an in-depth understanding of their business and legal and operational requirements so that they can be provided commercially astute, solution-based, innovative and cost-effective advice. In addition to the technical expertise of the lawyers at MAQ Legal, the team possesses in-depth hands-on knowledge of the regulatory and institutional frameworks in Oman and enjoy an enviable network of blue-chip clients and high-level government and institutional contacts.
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.
In The News
IFN Monthly Review: May — Exciting new entrants and prospects
The month following Ramadan showed promising growth and developments for Islamic finance. Several conventional lenders and new entities made their...
Oman: Steady growth of Islamic banking
New to the Islamic finance and banking industry relative to the other GCC countries, Oman has made much progress within only a short period…
Islamic finance in Oman: A force to be reckoned with
On the 26th October, IFN returned once again to Muscat to host IFN Oman Forum 2021 at the Grand Millennium, supported by Bank Nizwa and the Omani…
Oman’s Sukuk: A return to the international market
Oman has successfully issued Islamic trust certificates worth a total of US$1.75 billion, in its first foray into the international Sukuk market since 2018, to…
The Previous IFN Oman Forum
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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, panellists 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.
The annual IFN Asia Forum has been the biggest event in the industry since its inception in 2006, attracting over 1,000 delegates annually. An annual line-up of Forums are also conducted across emerging markets and key jurisdictions. Included under REDmoney Events are the IFN Awards Ceremonies, which take place annually in Dubai and Kuala Lumpur, and attract more than 800 industry leaders.
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Our team will be glad to answer any questions you may have about this event.
