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IFN Qatar Dialogues 2023

31st May 2023
Hamad Bin Khalifa University Auditorium

IN PARTNERSHIP WITH

Qatar Financial CentreHBKU

#IFNQATAR2023

IFN Qatar Dialogues Review

IFN Qatar Dialogues 2023 Review

We are delighted to present this comprehensive report documenting the insightful discussions and outcomes of IFN Qatar Dialogues 2023, a landmark event that brought together esteemed leaders, industry experts and visionaries from the Islamic finance industry. This report encapsulates the essence of the thought-provoking conversations that took place during the event, providing a valuable resource for stakeholders seeking to understand the developments and opportunities within the Islamic finance landscape, specifically in the dynamic Qatari market... ...Read More

About the IFN Qatar Dialogues

As one of the wealthiest nations in the world, Qatar’s economic influence cannot be understated. Its affinity with Shariah as well as hunt for economic diversification has guided the State’s nurturing of its Islamic banking and finance industry, which continues to post steady growth year-on-year.

The IFSB ranks Qatar as the fifth top Islamic banking market by assets and the country has witnessed a handful of landmark Sukuk issuances. The State was decisive in prohibiting Islamic window operations in 2011 in pursuit of stronger Shariah governance and solid fundamentals for its Shariah finance industry. Authorities continue support the sector with new measures. In October 2022, Qatar Central Bank issued for the first time treasury Sukuk to aid Islamic banks manage their liquidity as well as to ease issuers entry into the Sukuk market.

Home to one of the largest Islamic banks in the world and an increasingly vibrant fintech market, Qatar’s Islamic finance prospects are truly exciting.

After our first ever event in Doha in 2015, we are thrilled to be back in Qatar in 2023. This time we are bringing the highly acclaimed IFN Dialogue series to the Arabian Peninsula. With the help of leading market experts and industry practitioners, we will navigate the Qatari Islamic finance landscape with the aim of harnessing the State’s latent potential across different sectors of the Islamic finance economy, from banking to Takaful and capital markets as well as fintech. IFN Qatar Dialogues 2023 will be held in partnership with Qatar Financial Centre and College of Islamic Studies (CIS) at Hamad Bin Khalifa University (HBKU).

Download Post Event Report

Dialogues Agenda

9.15 – 9.20

Welcome Address

Dr Recep Senturk, Dean, College of Islamic Studies, Hamad Bin Khalifa University

9.20 – 9.30

Keynote Address

Yousuf Mohamed Al-Jaida, Board Member and CEO, Qatar Financial Centre

9.30 – 11.30

Dialogue One: Diversifying Qatar’s Economy — The Role of Islamic Financial Markets

  • What is a realistic assessment of today’s Shariah compliant capital and financial markets in Qatar?
  • How does the domestic regulatory environment allow for the growth of the Qatari Islamic capital markets?
  • Could amendments be made to capital market regulations, or could more be done by regulators? If so, what form would this evolution take?
  • What can Islamic finance and investment offer in the drive toward the diversification of the Qatari economy?
  • What steps should Qatar take to drive post-FIFA direct investment, and what role can Shariah compliant structures play?
  • Are Qatar’s Shariah compliant financial institutions in a favorable position in a post-FIFA environment in terms of liquidity and ongoing projects?
  • Developing the Islamic capital market in Qatar: increasing market depth and liquidity, driving product innovation and widening the investor base
  • How has the Qatar Central Bank 2022 Treasury Sukuk issuance helped domestic Islamic banks manage their liquidity as well as ease issuer entry into the Sukuk market?
  • Funding routes for Qatari corporates: Islamic capital markets versus bank funding
  • How can Shariah compliant structures be further applied to the funding of projects and infrastructure in Qatar?
  • How will privatization and the private sector continue to play a role in the provision of infrastructure and public services in Qatar?
  • In the shift away from hydrocarbons, what sectors and activities are ripe for growth and development in Qatar, and how can Islamic sustainable capital market products facilitate this rotation?
  • How can Shariah compliant transition, sustainable and sustainability-linked finance and investment products be further incorporated into the Qatari market?

Moderator:

Dr Dalal Aassouli, Assistant Professor of Islamic and Sustainable Finance, Hamad Bin Khalifa University

Panelists:

Akber Khan, Senior Director – Asset Management, Al Rayan Investment
Ayman Doukali, Head of Islamic and Structured Finance, Qatar Financial Centre
George Barakat, Group Treasury Director, Power International Holding
Mohsin Shaik Sehu Mohamed, Head of Investment Banking and Capital Markets, Maisarah Islamic Banking Services
Munaf Usmani, Senior Vice-President, Treasury and Markets, QInvest
Sabir Ahmed, Executive Director, Islamic Origination, Standard Chartered Bank
Tahir Hayat Pirzada, GM, Group Treasurer and Financial Institutions, Masraf Al Rayan

11.30 – 11.40

IFN Awards

11.40 – 12:10

Coffee

12:10 – 14.10

Dialogue Two: Achieving National Objectives through Islamic Banking — Innovation, Transformation and Digitalization

  • How have domestic bank mergers altered the Islamic banking sector in Qatar, and what further changes are on the horizon?
  • How does the domestic prudential banking regulatory environment allow for the growth of the Qatari Islamic banking sector?
  • Could amendments be made to banking regulations, or could more be done by regulators? If so, what form would this evolution take?
  • How are Qatar’s Islamic banks positioned post-FIFA in terms of liquidity and asset growth?
  • Do Tier 1 and Tier-2 Sukuk offer Qatari Islamic banks the most flexible, efficient and user-friendly way of satisfying regulatory capital requirements?
  • What other funding options are open to Qatari Islamic banks, and what liquidity management tools are available?
  • The digitalization of Islamic financial services in Qatar: what is working, what is viable and what is not?
  • What do the answers to these questions mean for the evolution and transformation of Islamic financial services in Qatar?
  • With Qatar emerging as a leading Islamic fintech center, how significant is the work of Qatar FinTech Hub’s acceleration and incubation programs?
  • Does the digitalization of Islamic financial services allow us to better address issues such as product authenticity and the minimization of uncertainty, and are we leveraging on this sufficiently?
  • Is it feasible to require Islamic banks in Qatar to incorporate ESG frameworks as part of a wider Islamic banking philosophy?
  • How can Shariah compliant banking be applied to social impact initiatives in Qatar, enriching lives through the advancement of education, housing, health, culture and well-being?

Moderator:

Dr Andrew Dahdal, Associate Professor, College of Law, Qatar University

Panelists:

Dr Ahmet Aysan, Associate Dean for Research, College of Islamic Studies, Hamad Bin Khalifa University
Henk Jan Hoogendoorn, Chief of Financial Sector Office, Qatar Financial Centre
Ibrahim Mohammed Hassan, Executive Director of Finance, Qatar Development Bank
Mohsin Mujtaba, Director, Product and Market Development, Qatar Stock Exchange
Nurein Said Mohamed, Director, Prudential Supervision and Financial Analysis, QFC Regulatory Authority
Simon Chan, Partner, K&L Gates

14.10

Luncheon

Dialogues Keynotes

Dr Recep Senturk

Dr Recep Senturk

Dean, College of Islamic Studies, Hamad Bin Khalifa University
Dr Recep Senturk
Dr Recep Senturk
Dean, College of Islamic Studies, Hamad Bin Khalifa University

Dr Recep Senturk is the dean of the College of Islamic Studies at Hamad Bin Khalifa University. He was the founding president of Ibn Haldun University in Istanbul (2017–21) and Usul Academy. Dr Recep holds a PhD from Columbia University’s Department of Sociology, and specializes in Islamic studies, ethics, social theories and methods, sociology of religion and education, social networks, civilization studies and modernization and post-modernization. He served as a researcher at the Center for Islamic Studies in Istanbul, and as a founding director of the Alliance of Civilizations Institute. He is the head of the International Ibn Khaldun Society and has a seat on the editorial boards of multiple academic journals. Among his books are ‘Comparative Theories and Methods: Between Uniplexity and Multiplexity’; ‘Narrative Social Structure: Hadith Transmission Network (610–1505)’; ‘Open Civilization: Towards a Multi-Civilizational Society and World’; ‘Ibn Khaldun: Contemporary Readings’ and ‘Malcolm X: Struggle for Human Rights’. Dr Recep’s work has been published in and translated into English, Arabic, Turkish, Japanese and Spanish.

Yousuf Mohamed Al-Jaida

Yousuf Mohamed Al-Jaida

Board Member and CEO, Qatar Financial Centre
Yousuf Mohamed Al-Jaida
Yousuf Mohamed Al-Jaida
Board Member and CEO, Qatar Financial Centre

Yousuf Mohamed Al-Jaida was appointed CEO of Qatar Financial Centre (QFC) in June 2015. He previously held the role of deputy CEO and chief strategic business development officer at QFC where he was responsible for leading the overall strategy and business development functions of the organization.

Prior to joining QFC, Yousuf was the head of indirect investment at the Qatar General Retirement and Pension Authority, which included overseeing the management of hedge fund, private equity, real estate, fixed income and equity portfolio investments. He also worked for Qatar Energy and Dolphin Energy early in his career.

Yousuf serves as a board member in leading local and international organizations including the World Alliance of International Financial Centers, the Qatar Financial Centre, the Qatar Finance and Business Academy, the Qatar Free Zones Authority, the Qatar Stock Exchange, the Investment Promotion Agency and Sidra Medicine. He is also an advisory board member in the College of Islamic Studies at Hamad Bin Khalifa University, and sits on the Advisory Council of Qatar University’s College of Business and Economics.

Previously, Yousuf was on the boards of Nakilat and the US$1 billion strategic investment fund of Unicorn Investment Bank, as well as serving as the vice-chairman of Mayadeen Real Estate Company. He graduated from the University of Arizona in the US.

Dialogues Speakers

Dr Ahmet Aysan

Dr Ahmet Aysan

Associate Dean of Research, College of Islamic Studies, Hamad Bin Khalifa University
Dr Ahmet Aysan
Dr Ahmet Aysan
Associate Dean of Research, College of Islamic Studies, Hamad Bin Khalifa University

Dr Ahmet Aysan is a full professor, associate dean for research and the program coordinator of the PhD and Master of Science programs at Hamad Bin Khalifa University. He has been a board member and Monetary Policy Committee member of the Central Bank of the Republic of Turkiye and served as a consultant at various institutions such as the World Bank, the Central Bank of the Republic of Turkiye and Oxford Analytica. Dr Ahmet, who has many articles published in academic journals, is a recipient of the Bogaziçi University Award and the MEEA Ibn Khaldun Prize. Dr Ahmet is also a research associate at the University College London Centre for Blockchain Technologies and a non-resident fellow at the ME Council.

Akber Khan

Akber Khan

Senior Director – Asset Management, Al Rayan Investment
Akber Khan
Akber Khan
Senior Director – Asset Management, Al Rayan Investment

Akber Khan has more than 25 years of experience in the investment industry. He is a senior director of the asset management group at Al Rayan Investment (ARI) and has been with ARI since 2009, with overall responsibility for the management of client portfolios. ARI has an enviable track record of investing in Shariah compliant GCC equities and global Sukuk. Prior to ARI, Akber was at Deutsche Bank, London for more than 11 years in European and emerging markets equities. Akber graduated from University College London in economics and history. In each year since 2013, he has been in MENA Fund Manager Magazine’s ‘Power 50’ list of the most “influential, innovative and powerful people” in the regional industry.

Dr Andrew Dahdal

Dr Andrew Dahdal

Associate Professor, College of Law, Qatar University
Dr Andrew Dahdal
Dr Andrew Dahdal
Associate Professor, College of Law, Qatar University

Dr Andrew Dahdal is an associate professor at the College of Law, Qatar University and the chair of commercial law at the International Association of Law Schools. Dr Andrew researches and publishes on a range of financial services topics focused on the Middle East and beyond, particularly relating to technological innovations. His most recent book is ‘Qatari Business Law’ (2003, published by Qatar University Press). He has taught law in Australia, Europe and the Middle East and is currently part of an international project exploring financial inclusion and technology in Qatar. Dr Andrew holds a Bachelor of Laws (Hons) degree from Macquarie University, and a Bachelor of Commerce degree and PhD from the University of New South Wales.

Ayman Doukali

Ayman Doukali

Head of Islamic and Structured Finance, Qatar Financial Centre (QFC)
Ayman Doukali
Ayman Doukali
Head of Islamic and Structured Finance, Qatar Financial Centre (QFC)

Ayman Doukali has over a decade of experience in Islamic finance, particularly in the debt capital markets and corporate and institutional banking areas. He is currently the head of Islamic and structured finance at the Qatar Financial Center (QFC). Prior to joining the QFC, Ayman worked for HSBC in Malaysia and held multiple positions within the global banking and debt capital markets teams, with his last assignment being the head of Sukuk for Asia Pacific. Before working at HSBC, he was part of the debt capital markets team at Dukhan Bank in Qatar, leading the execution of a flow of Sukuk and syndicated financing transactions in the GCC.

Dr Dalal Aassouli

Dr Dalal Aassouli

Assistant Professor of Islamic and Sustainable Finance, Hamad Bin Khalifa University
Dr Dalal Aassouli
Dr Dalal Aassouli
Assistant Professor of Islamic and Sustainable Finance, Hamad Bin Khalifa University

Dr Dalal Aassouli is an Assistant Professor of Islamic and Sustainable Finance at Hamad Bin Khalifa University in Qatar.

Dr Dalal was previously a visiting academic at the Durham Centre for Islamic Economics and Finance, Durham University Business School. Prior to that, she worked at the International Islamic Liquidity Management Corporation (IILM) in Malaysia where she assisted with the establishment of the IILM’s Sukuk program. Before that, she held several corporate finance positions in Europe where she had exposure to the African, European and Latin American markets.

Dr Dalal serves on several industry working groups and non-profit global forums such as the CIBAFI Sustainability Working Group, Qatar Financial Center Islamic Finance Taskforce and the Global Impact Fintech Forum. She is also an invited speaker in international conferences and events and provides her consultancy expertise to various organizations on issues related to sustainable and Islamic finance.

Dr Dalal holds a Master’s degree from NEOMA Business School and Paris Dauphine University and a PhD from ENS de Lyon in France.

Dr Dalal’s areas of research interest include Islamic finance in general and its implications for liquidity management, corporate finance, ethical finance, development finance, green finance, food security, sustainable development and SRI.

George Barakat

George Barakat

Group Treasury Director, Power International Holding
George Barakat
George Barakat
Group Treasury Director, Power International Holding

George Barakat is an ex-banker and corporate treasurer with over 16 years of professional experience in banking, treasury and finance; his experience extends to corporate credit ratings, corporate Sukuk, capital restructuring and investment management.

George is currently the group treasury director at Power International Holding (PIH) where he is strategically managing group treasury; prior to joining PIH, George was heading group treasury and investments for Saleh Al Hamad Al Mana & Group of Companies and group treasury for Ezdan Holding Group. Prior to Ezdan, he spent over nine years with Mashreq Bank where he held numerous positions in business, treasury and finance.

George had served as a treasurer and board member for IMA Qatar Chapter, for the 2012/2013 term.

George holds a Bachelor’s degree in economics, and he is a certified management accountant by IMA–US.

Henk Jan Hoogendoorn

Henk Jan Hoogendoorn

Chief of Financial Sector Office, Qatar Financial Centre
Henk Jan Hoogendoorn
Henk Jan Hoogendoorn
Chief of Financial Sector Office, Qatar Financial Centre

Henk Jan Hoogendoorn is the Chief of the Financial Sector Office at Qatar Financial Centre (QFC), where he is responsible for delivering QFC’s mission of attracting financial and regulated businesses to Qatar through the QFC platform, in line with the Second Financial Strategy and Qatar National Vision 2030.

Henk has extensive experience in international finance, management and transforming and building businesses in the financial sector. Henk has held senior management roles at ABN AMRO Bank and Deutsche Bank in the Netherlands and the Middle East and has a solid track record of implementing businesses in the financial sector.

Prior to joining QFC, Henk served as Mashreq Qatar’s country CEO and as the Managing Director-Head of Non-bank Financial Institutions at Deutsche Bank where he was responsible for insurers, pension funds, fintech and implementing strategic and business plans across Europe.

Henk holds a Master’s degree in Law from the University of Utrecht in the Netherlands and has participated in executive education at the London Business School and INSEAD.

Ibrahim Mohammed Hassan

Ibrahim Mohammed Hassan

Executive Director of Finance, Qatar Development Bank
Ibrahim Mohammed Hassan
Ibrahim Mohammed Hassan
Executive Director of Finance, Qatar Development Bank

Ibrahim Mohammed Hassan holds the position of the Executive Director of Finance at QDB overseeing financial planning and participating in taking significant strategic and investment related decisions to ensure the sustainable growth of the bank’s operations.

Ibrahim sits on various boards of directors and executive committees being in charge of the strategic and operational overseeing of QDB’s portfolio of investment in subsidiaries and associates.

In addition to his role as the CFO of QDB, Ibrahim is also Executive Director of Investment; a role that he has held since March 2017. The investment team is managing a QAR 365 million venture capital fund with a mandate to support Qatari and local entrepreneurship aiming to build the required capacities to achieve scalability.

Ibrahim Hassan holds a Bachelor of Science in Business Administration from Carnegie Mellon University in Qatar and is a Member of CFA Institute.

Mohsin Mujtaba

Mohsin Mujtaba

Director, Product and Market Development, Qatar Stock Exchange
Mohsin Mujtaba
Mohsin Mujtaba
Director, Product and Market Development, Qatar Stock Exchange

Mohsin Mujtaba is the director of products and market development at the Qatar Stock Exchange (QSE) where he is leading new initiatives to position the QSE as a multi-asset platform of global significance. He has been responsible for launching the largest exchange-traded fund platform in the MENA region at the QSE. He is currently focused on developing new products such as derivatives, REITs and ESG investment solutions for QSE customers. He also works closely with market participants and regulators to further improve the Qatari market structure.

Mohsin played an instrumental role in achieving Emerging Markets status for Qatar by MSCI and FTSE. Prior to that, he spearheaded the launch of the secondary market for treasury bills and government bonds at the QSE. He also served as the executive advisor to the CEO and helped in charting the exchange strategy that led to a strategic partnership between the State of Qatar and NYSE Euronext in 2009. Before joining the QSE, Mohsin was the chief systems architect at Wavetech where he was responsible for delivering customer-centric solutions and advising the capital market industry in Pakistan and the GCC region. He works closely with asset owners, investment managers and brokers to develop ideas and exchange traded products for the Qatari market.

Mohsin Shaik Sehu Mohamed

Mohsin Shaik Sehu Mohamed

Head of Investment Banking and Capital Markets, Maisarah Islamic Banking Services
Mohsin Shaik Sehu Mohamed
Mohsin Shaik Sehu Mohamed
Head of Investment Banking and Capital Markets, Maisarah Islamic Banking Services

Mohsin Shaik Sehu Mohamed is currently heading the investment banking and capital markets at Maisarah, Bank Dhofar. He is responsible on the overall business of investment banking of Maisarah covering debt capital markets, private equity, asset management, corporate finance, wealth management and direct investments.

Mohsin is a well-known figure in the Islamic finance market in Oman due to his role in the Sukuk space. He has been instrumental in executing the first-ever Sukuk in Oman back in 2013. In 2020, Mohsin advised the government of Oman on issuing the first ever sovereign retail Sukuk.

In 2022, Mohsin was appointed as the ‘Grand Councilor’ for Chartered Institute of Islamic Finance in Malaysia. Mohsin is also a chartered professional in Islamic finance and has been certified by the International Academy of Business and Financial Management as a certified private equity specialist. He is also a chartered Islamic finance professional with INCEIF, Malaysia. He graduated with a Master of Business (Applied Finance) degree from the Queensland University of Technology, Australia and holds a Bachelor of Accounting (Hons) degree from University Tenaga Nasional, Malaysia.

Munaf Usmani

Munaf Usmani

Senior Vice-President, Treasury and Markets, QInvest
Munaf Usmani
Munaf Usmani
Senior Vice-President, Treasury and Markets, QInvest

Munaf Usmani is a Senior Vice-President in the Treasury and Markets Division at QInvest with a career spanning 15 years in the Islamic finance industry, having closed over US$5 billion in investment and advisory transactions. In his current role, he is responsible for managing the firm’s proprietary capital in financial market investments including fixed income funds, equities, derivatives, structured products, etc. He is also responsible for asset liability management, hedging and funding for the firm. Additionally, he oversees the financial institution function, focusing on establishing and enhancing relationships with local, regional and global financial institutions. Prior to QInvest, Munaf was in the Treasury and Financial Institutions Department at Meezan Bank, where he started as a Trainee Dealer and rose to the level of Deputy Treasurer. During his time at Meezan, he was in charge of the sales, trading and liquidity management portfolios with a total balance sheet size of US$15 billion; led key initiatives for the bank including establishing the Equity Capital Markets and Fund Transfer Pricing units; and successfully closed landmark agreements in the Islamic banking space. Munaf holds a Bachelor’s degree in Finance and a Master’s degree in Management from the Institute of Business Administration, Karachi.

Nurein Said Mohamed

Nurein Said Mohamed

Director, Prudential Supervision and Financial Analysis, QFC Regulatory Authority
Nurein Said Mohamed
Nurein Said Mohamed
Director, Prudential Supervision and Financial Analysis, QFC Regulatory Authority

Nurein Said Mohamed joined QFC Regulatory Authority in June 2008 as the Senior Manager in Internal Audit and was promoted to his present role in January 2017.

Nurein began his career with PwC in Kenya from where he attained his Certified Public Accountant and Certified Information Systems Auditor designations. He subsequently spent four years at Barclays Bank in Kenya in various roles, the last of which was as the Regional Head of Risk and Control Assessments for Africa and the Middle East as well as Acting Head of Operational Risk. There, he was a key member of the Basel II operational risk workstream for the Advanced Measurement Approach waiver application.

Nurein graduated from ICMA Centre, Henley Business School with a Master of Science degree in International Securities, Investment and Banking. He is also a fellow of the Chartered Institute of Securities & Investments, a Certified Internal Auditor and holds the CAMS designation.

Prior to QFC Regulatory Authority, Nurein worked at a start-up Islamic bank as the Head of Risk and Compliance.

Sabir Ahmed

Sabir Ahmed

Executive Director Islamic Origination, Standard Chartered Bank
Sabir Ahmed
Sabir Ahmed
Executive Director Islamic Origination, Standard Chartered Bank

Sabir Ahmed is responsible for the structuring and execution of Shariah compliant capital markets, syndications, corporate finance and financial markets transactions in the GCC, the Southeast Asian region (Malaysia, Indonesia, Brunei and Singapore), the UK and Turkey. Sabir has arranged 100-plus sovereign, quasi-sovereign, corporate and financial institution Islamic syndications and debt capital market transactions across multiple geographies, including a number of debut and award-winning deals. Sabir joined Standard Chartered in 2005 and has over 23 years of experience in the financial services industry of which 19 years were in Islamic banking. Sabir holds an MBA degree from the Institute of Business Administration, Karachi.

Simon Chan

Simon Chan

Partner, K&L Gates
Simon Chan
Simon Chan
Partner, K&L Gates

Simon Chan has been based in Doha since July 2010. Prior to joining K&L Gates, he worked for Allen & Overy. Before moving to Doha, he spent 10 years practicing in London, from 1999 to 2009. Simon has extensive experience advising financial institutions, corporate sponsors and borrowers on general financing, including project finance, leveraged finance, asset finance and Islamic finance, and also on restructurings. He has experience in advising project companies, sponsors and lenders on the development and financing of large infrastructure projects.

Simon was ranked as a leading lawyer (Band 2) by Chambers Global 2021 for ‘Corporate/Commercial: Banking & Finance in Qatar’. Simon is well-versed in a wide range of finance matters, acting for both borrowers and lenders. He is also noted for his skills in fintech and banking regulatory matters. Sources agree that he is “an experienced guy”, with one client adding: “I find him to be really reliable”. Simon is rated by The Legal 500: Qatar, with one peer noting: “Simon is a good guy, dedicated to the work and an expert in his field.”

Tahir Hayat Pirzada

Tahir Hayat Pirzada

GM, Group Treasurer and Financial Institutions, Masraf Al Rayan
Tahir Hayat Pirzada
Tahir Hayat Pirzada
GM, Group Treasurer and Financial Institutions, Masraf Al Rayan

Tahir joined the Group in December 2021 as part of the merger with Al Khalij Commercial Bank (al khaliji) where he held a similar position since 2015. He started working with the Bank in 2007.

He has over 30 years of banking experience in leading regional and international banks, having previously worked in Dubai Bank PJSC, ABN AMRO Bank N.V., Prime Bank and First International Investment Bank in variety of roles in Treasury, Investments, DCM and Corporate/Institutional Banking

Tahir holds an MBA (Finance) from Imperial College of Business Studies, Pakistan.

Advisory Board

Ajmal Bhatty

Ajmal Bhatty

Ajmal Bhatty, Executive Director, Badri Management Consultancy
Ajmal Bhatty
Ajmal Bhatty
Ajmal Bhatty, Executive Director, Badri Management Consultancy

A thought leader in Takaful and microTakaful, Ajmal Bhatty is recognized for his outstanding contributions to the Takaful industry internationally. He has pioneered research, promotion and development of Takaful, contributing to the evolution of ideas and concepts of ethical savings and protection, working with standard-setting bodies such as IFSB, AAOIFI (1998–99) and the insurance regulatory bodies of Bahrain, Malaysia, Brunei and Afghanistan.

Ajmal heads MassesGlobal UK, is the executive director of Badri Management Consultancy UAE and is on the advisory board of the UK’s Islamic Finance Council for the promotion of micro financial solutions with a focus on Takaful’s global promotion including the ESG metrics of the green economy.

Ajmal’s professional and leadership experience spans over 30 years in managing insurance and Takaful businesses globally, holding C-level and board positions with HSBC (in the UK, Malaysia, Singapore, Saudi Arabia and the UAE), with Tokio Marine Group (in the UAE, Saudi Arabia, Egypt) and other insurance entities in the GCC.

Ajmal is a registered actuary in the UAE and Bahrain, a member of Actuaries Without Borders and has worked as a member of the special committee of the IsDB and Bank Negara Malaysia to develop and promote Takaful among the members of the OIC.

Akber Khan

Akber Khan

Senior Director – Asset Management, Al Rayan Investment
Akber Khan
Akber Khan
Senior Director – Asset Management, Al Rayan Investment

Akber Khan has more than 25 years of experience in the investment industry. He is a senior director of the asset management group at Al Rayan Investment (ARI) and has been with ARI since 2009, with overall responsibility for the management of client portfolios. ARI has an enviable track record of investing in Shariah compliant GCC equities and global Sukuk. Prior to ARI, Akber was at Deutsche Bank, London for more than 11 years in European and emerging markets equities. Akber graduated from University College London in economics and history. In each year since 2013, he has been in MENA Fund Manager Magazine’s ‘Power 50’ list of the most “influential, innovative and powerful people” in the regional industry.

Amjad Hussain

Amjad Hussain

Partner, K&L Gates LLP
Amjad Hussain
Amjad Hussain
Partner, K&L Gates LLP

Amjad Hussain is a partner in the firm’s Doha office. He focuses his practice on finance, corporate and commercial matters with a particular emphasis on banking and Islamic finance.

Since 2002, Amjad has worked for clients in the Arabian Gulf across a range of sectors including financial services; telecoms, media and technology; and infrastructure. He advises government and private sector clients based within and outside the Middle East on matters of English, Qatar and Qatar Financial Centre laws.

In 2021, Chambers Global directory of lawyers in Qatar rated Amjad as Band 1, stating: “Amjad Hussain is widely considered a leader in Qatari finance matters. He is acclaimed by clients for his strengths in Islamic and asset finance, and offers further expertise in M&A [merger and acquisition] transactions and commercial contract work. Sources describe him as a lawyer who is ‘very pragmatic, practical and offers a good level of service,’ further noting: ‘He’s a really pleasant guy to work with.’”

Dr Andrew Dahdal

Dr Andrew Dahdal

Associate Professor, College of Law, Qatar University
Dr Andrew Dahdal
Dr Andrew Dahdal
Associate Professor, College of Law, Qatar University

Dr Andrew Dahdal is an associate professor at the College of Law, Qatar University and the chair of commercial law at the International Association of Law Schools. Dr Andrew researches and publishes on a range of financial services topics focused on the Middle East and beyond, particularly relating to technological innovations. His most recent book is ‘Qatari Business Law’ (2003, published by Qatar University Press). He has taught law in Australia, Europe and the Middle East and is currently part of an international project exploring financial inclusion and technology in Qatar. Dr Andrew holds a Bachelor of Laws (Hons) degree from Macquarie University, and a Bachelor of Commerce degree and PhD from the University of New South Wales.

Dr Dalal Aassouli

Dr Dalal Aassouli

Assistant Professor of Islamic and Sustainable Finance, Hamad Bin Khalifa University
Dr Dalal Aassouli
Dr Dalal Aassouli
Assistant Professor of Islamic and Sustainable Finance, Hamad Bin Khalifa University

Dr Dalal Aassouli is an Assistant Professor of Islamic and Sustainable Finance at Hamad Bin Khalifa University in Qatar.

Dr Dalal was previously a visiting academic at the Durham Centre for Islamic Economics and Finance, Durham University Business School. Prior to that, she worked at the International Islamic Liquidity Management Corporation (IILM) in Malaysia where she assisted with the establishment of the IILM’s Sukuk program. Before that, she held several corporate finance positions in Europe where she had exposure to the African, European and Latin American markets.

Dr Dalal serves on several industry working groups and non-profit global forums such as the CIBAFI Sustainability Working Group, Qatar Financial Center Islamic Finance Taskforce and the Global Impact Fintech Forum. She is also an invited speaker in international conferences and events and provides her consultancy expertise to various organizations on issues related to sustainable and Islamic finance.

Dr Dalal holds a Master’s degree from NEOMA Business School and Paris Dauphine University and a PhD from ENS de Lyon in France.

Dr Dalal’s areas of research interest include Islamic finance in general and its implications for liquidity management, corporate finance, ethical finance, development finance, green finance, food security, sustainable development and SRI.

Dr Mohamed Eskandar Shah

Dr Mohamed Eskandar Shah

Associate Dean Academic, Associate Professor, Islamic Finance, College of Islamic Studies, HBKU, Qatar Foundation
Dr Mohamed Eskandar Shah
Dr Mohamed Eskandar Shah
Associate Dean Academic, Associate Professor, Islamic Finance, College of Islamic Studies, HBKU, Qatar Foundation

Assoc Prof Dr Mohamed Eskandar Shah Mohd Rasid is currently an associate professor at the College of Islamic Studies, HBKU Qatar Foundation. He holds a PhD in finance from the University of Nottingham in the UK. He also has a Master in International Economics and Finance degree from the University of Queensland, Australia and a Bachelor in Business Administration (Finance) degree from International Islamic University Malaysia (IIUM).

Before joining HBKU, Dr Eskandar was an associate professor and associate dean of the School of Graduate and Professional Studies at the International Centre for Education in Islamic Finance or INCEIF, a postgraduate university specializing in Islamic finance, established by Bank Negara Malaysia.

Dr Eskandar’s primary teaching and research interests are in corporate finance, portfolio management and the Islamic capital market. He has published articles in several top-tier journals and participated in conferences as an invited speaker, panelist and paper presenter.

Dr Eskandar was a financial sector specialist consultant for the World Bank and advisor for the Brunei Institute of Leadership and Islamic Finance in Brunei. He was involved in several consultancy projects with government agencies and financial institutions such as the Ministry of Energy, Malaysia; Afghanistan Ministry of Finance; CIMB Islamic Bank; Responsible Finance Institute; and ZICO Shariah Advisory.

Tamer Aref Serour

Tamer Aref Serour

Unit Head - Structured Finance, Wholesale Banking - Government, Dukhan Bank
Tamer Aref Serour
Tamer Aref Serour
Unit Head - Structured Finance, Wholesale Banking - Government, Dukhan Bank

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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

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The Islamic Corporation for The Insurance Of Investment And Export Credit (ICIEC)

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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.

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International Islamic Trade Finance Corporation

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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

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IsDB Group Business Forum (THIQAH)

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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)

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PARTNERS

IdealRatings

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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.
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K&L Gates

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K&L Gates is an international law firm, delivering legal services on an integrated and global basis, with nearly 1,800 lawyers in over 45 offices in key capital cities and world commercial and financial centers.

Doha is one of the centers of excellence for our global Islamic finance group, with lawyers based in Europe, the US and the Far East. We advise investors, Islamic financial institutions, asset managers, banks and borrowers worldwide on all aspects of Islamic financial transactions, including real estate, asset, corporate and project financing structures that comply with Shariah law. We assist regulators and licensees on Islamic fintech and crypto projects. Our team works on significant merger and acquisition transactions, such as the merger of Masraf Al Rayan and Al Khaliji Bank creating one of the largest Islamic banks globally. Additionally, we are involved in innovative Islamic capital market products and projects, eg Qatar’s first Shariah compliant exchange-traded fund.

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Qatar Development Bank

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Qatar Development Bank is the main supporting arm of the Qatari private sector and a strong catalyst for social and economic development through its three pillars — access to finance, access to markets and access to capacity development — while strengthening the capabilities of manufacturing companies in various sectors to raise their economic contribution and level of competitiveness and support their innovative solutions.

QDB’s integrated support system covers various financing schemes and advisory services, guidance and development, grants and national and international quality accreditations, and capacity-building platforms. As a result, QDB has become a growth partner and a supporter of the private sector advancement on national and international levels, contributing to economic development and QNV 2030’s pillars.

QDB and its subsidiaries facilitate Qatari companies’ entry into the new global economy and its opportunities by adopting digital and green transformations of their products and services and embracing their initiatives, while gradually becoming a digital bank of the future and a beacon for financial and development institutions regionally and internationally.

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Qatar Stock Exchange

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The Qatar Stock Exchange (QSE) is the principal stock market of Qatar. Established in 1995, the QSE has grown to become one of the leading stock markets in the GCC region. The QSE operates within a robust regulatory framework to ensure market integrity and protect investor interests.

The QSE’s mission is to provide a transparent and efficient marketplace for securities trading while contributing to the development of Qatar’s economy. The QSE strives to create an environment that attracts domestic and international investors, enhances market integrity and promotes the growth and diversification of Qatar’s capital market.

The QSE operates a state-of-the-art trading platform that enables the buying and selling of equities, bonds, exchange-traded funds and other instruments. The QSE ensures an efficient marketplace that adheres to international standards and best practices.

The QSE provides comprehensive and real-time market information, empowering investors, analysts and market participants with the necessary insights to make informed decisions.

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CONSULTANCY PARTNER

Redmoney Consulting

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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.

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LEAD MEDIA PARTNERS

MEDIA PARTNER

In The News

IFN Monthly Review: April – Regulatory updates support Islamic finance

India introduced an amendment to its Waqf bill to modernize property management in the sector. Kazakhstan began the process of...

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Qatar Central Bank’s new treasury Sukuk initiative a boon for Islamic banks

The Qatar Central Bank (QCB) officially introduced in October 2022 some enhancements to its treasury bills issuance mechanism…

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Plenty of areas for growth for Qatar's Islamic finance and banking industry, experts say

The State of Qatar, while being one of the smaller countries in the GCC region, remains an important player in the global…

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Qatar: Islamic banking and finance on the rise

It has been more than a year after the 2017 Saudi-led GCC embargo on the State of Qatar was lifted and diplomatic relations…

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The Previous IFN Qatar OnAir Roadshow

IFN Qatar OnAir Roadshow 2022

This was the 3rd IFN Qatar event.

Qatar’s’ Islamic banking industry, with four fully-fledged Islamic banks, enjoyed 26.1% of the total market share of global Islamic banking assets as at the third quarter of 2019.

The four Takaful operators enjoyed a 45% domestic market share.

Abroad, QIIB had founded Umnia Bank in Morocco, while Masraf Al Rayan-owned Al Rayan Investment was working on establishing a fintech-based Islamic bank in Kazakhstan.

Islamic fintech was an area of focus, with Qatar Fintech Hub launching incubator programs to develop fintech start-ups focusing on Islamic finance, including Takatech and Shariah compliant cryptocurrency.

Qatar remained a global leader for the Islamic finance industry and with its sturdy regulations and progressive regulators, its position was not in jeopardy.

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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, 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.

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Our team will be glad to answer any questions you may have about this event.

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REDmoney Events designs, organizes and hosts industry-leading conferences, forums, roadshows and seminars focusing on the Islamic financial markets across a global, regional and national level.

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Presenting the 3rd Annual Global Shari'ah Majlis: Presenting the 3rd Annual Global Shari'ah Majlis: Transforming for a Better Tomorrow.

Explore pivotal topics with our esteemed speakers on 23rd October 2024, at Movenpick Hotel, Karachi - Pakistan.

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Tamweel Aloula, a digital financing company in Sau Tamweel Aloula, a digital financing company in Saudi Arabia, has completed its issuance of an Additional Tier 1 Capital Sukuk under its inaugural Sukuk program worth SAR500 million (US$133.05 million).

The issuance marks the first time such a program has been implemented by a non-banking financial institution in the Kingdom. Facilitating the transaction was Impact46, a Saudi investment and advisory firm which acted as the financial adviser and arranger, while legal counsel was provided by Norton Rose Fulbright.

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