08:00 – 09:00
Registration
09:00 – 09:30
Welcome Address
09:30 – 10:00
Keynote Address
Yaseen Anwar, Governor, State Bank of Pakistan
10:00 – 11:00
Session One: Advancing Pakistan's Sustainable Growth and Development in the Islamic Finance Market
- Pakistan’s evolving political landscape and its impact on the development of Islamic finance
- Developing Pakistan’s key advantages in the Islamic finance space: high growth rate of local IFIs, strong regulatory support, potential growth in agricultural and mineral assets
- Industry initiative for promotion of Islamic finance
- The crucial role of multilateral agencies in enhancing private sector participation and building investor confidence in Pakistan
- Attracting investment flows from key trading partners: How can Pakistan distinguish itself from its competitors
Zulfikar Khokhar, Additional Director, State Bank of Pakistan
Panelists:Ashraf Khan, Executive Director, State Bank of Pakistan
Hasan A Bilgrami, Chief Executive Officer, BankIslami Pakistan
Irfan Siddiqui, President & Chief Executive Officer, Meezan Bank
M A Mannan, Executive Director, Silkbank
Syed Najmul Hussain, Partner, KPMG Taseer Hadi & Co.
11:00 – 11:20
Tea Break & Networking
11:20 – 12:05
Session Two: Assessing the Growth Potential for Shariah Compliant Retail and Commercial Banking Products
- Financial inclusion: Overcoming the issue of lack of awareness of Islamic retail banking amongst Pakistan’s unbanked population
- Tapping the latent demand for Shariah compliant retail offerings: discussing suitable structures and Shariah considerations for SME, housing and Agriculture sector.
- Identifying current trends and innovations in product structures globally and application in the Pakistani context
- Maintaining a competitive advantage through the development of targeted Shariah compliant retail offerings
- Challenges faced by Islamic retail banks – stiff competition, Shariah concerns and the crucial need for innovative product structures
Muhammad Imran, Head of Retail & Consumer Banking, Bank Islami Pakistan
Panelists:Ahmed Ali Siddiqui, Executive Vice President & Head, Product Development & Shariah Compliance, Meezan Bank
Sirajuddin Aziz, President & Chief Executive Officer, HabibMetro Bank
Wasim Akhtar Saifi, Global Head of Islamic Banking, Consumer Banking & Chief Executive Officer, Standard Chartered Saadiq, Malaysia
Zubair Haider Shaikh, Senior Executive Vice President & Group Chief, Islamic Banking Group, National Bank of Pakistan
12:05 – 12:50
Session Three: Legal and Taxation Issues in the Current Islamic Banking Regime
- Amendments required in legal framework of existing banking laws
- Issues with current documentation and legal implications
- Dual taxation issues and its impact on pricing and reputation of Islamic banking
- What is the industry-wide strategy to address these issues?
- Is there a need to formally create a forum to interact with the Central Board of Revenue on issues specific to Islamic finance
Dr Zeeshan Ahmed, Associate Professor, Karachi School of Business & Leadership
Panelists:Daniyal Mufti, Senior Counsel, Dar Al Sharia
Ishaq Shah, Partner, Ahmed & Qazi
Mujeeb Beig, Senior Vice President and Head Product Development & Research, Islamic Banking Group, MCB Bank
Najeeb Khan, Shariah Advisor, Habib Metropolitan Bank
Omar Mustafa Ansari, Partner, Assurance & Islamic Financial Services, EY
12:50 – 14:00
Lunch
14:00 – 14:40
Session Four: Discussion on Recent Regulatory Development and Growth of Islamic Capital Market in Pakistan
- Establishment of Shariah board at SECP and its role: A milestone towards promoting accelerated growth in Islamic capital market
- Discussing recent regulatory guidelines by SECP affecting Islamic financial Institutions
- Rules of Sukuk and its impact on corporate sector participation
- What SECP’s new Takaful rules will mean for existing Takaful operators and the market in general
- Shariah compliant mutual fund industry
- Revival of Moderabas: what to do to make it a success story for the world
- What further regulatory guidelines are in the pipeline to advance the development of Pakistan’s capital market
Azeem I Pirani, Regional Head – Pakistan, FWU AG
Panelists:Dr Adnan Aziz, Chief Executive Officer, Islamic Global Distribution Platform (Islamic GDP) and Managing Director, IRM Ltd. UK
Haroon Askari, Deputy Managing Director, Karachi Stock Exchange
Jawed Hussain, Registrar Modaraba, Securities & Exchange Commission of Pakistan
Muhammad Shoaib Ibrahim, Chief Executive Officer and Managing Director, First Habib Modaraba
Salman Ahmed, Partner and Head of Islamic Finance, Trowers & Hamlins MENA
14:40 – 15:20
Session Five: Development in Project Financing through Sukuk
- Balancing the need for innovative product structures with effective governance of regulatory and Shariah risks
- Addressing the underperformance of corporate Sukuk deals in Pakistan – does the success of sovereign Sukuk come at the expense of corporate issuances?
- Factors hindering the growth of corporate Sukuk issuance – domestic demand, tax treatment, lack of secondary market activity – and steps to overcome them
- Are Shariah compliant structures well suited to meet the needs of Pakistan’s infrastructure development projects?
- Addressing the disconnect between the need for project and infrastructure funding and the availability of Shariah compliant funding instruments
- Examining issues relating to fees, distribution, intermediaries, advisors and cost efficiency
Syed Amir Ali, Head, Investment Banking, Meezan Bank Limited
Panelists:Azhar Aslam, Head of Islamic Banking, Standard Chartered Bank Pakistan
Irshad Ahmad Aijaz, Shariah Adviser & Member, Shariah Supervisory Board, BankIslami Pakistan
Kanwar Shahzad, Head of Treasury, Burj Bank
Mahmood Shaqat, Additional Director – Infrastructure Housing & SME Finance Dept, State Bank of Pakistan
Tanweer Bukhari, Head of Investment Banking & Advisory, CIMB Middle East
15:20 – 15:40
Presentation: Outlook and Future Prospects for Islamic Microfinance In Pakistan
Dr Amjad Saqib, Founder & Executive Director, Akhuwat Foundation
15:40 – 16:00
Closing Address
