08:00 – 09:00
Registration
09:00 – 09:15
Welcome Address
Faizal Salieh – Managing Director & Chief Executive Officer, Amana Bank
09:15 – 09:30
Keynote Address
Ajith Nivard Cabraal – Governor, Central Bank of Sri Lanka
09:30 – 10:30
Session One: Islamic Finance in Sri Lanka: Laying the Groundwork for Long Term Growth
- Sri Lanka’s evolving political landscape and its impact on the development of Islamic finance
- Prospects for sovereign and quasi-sovereign Sukuk issuance and its role in advancing Sri Lanka’s Islamic finance industry
- Role of regulators and market players in attracting foreign investors from Asia and the Gulf
- Accessing liquidity for the development and growth of the domestic Islamic financial institutions: The need for capital
- Ensuring a collaborative strategy to encourage the success of both Islamic windows and fully fledged Islamic banks
- Assessing the impact of new domestic and foreign entrants in Sri Lanka’s Islamic finance space: How large a market can this be?
Reyaz Mihular – Managing Partner, KPMG Sri Lanka
Panelists:Ananda Silva – Senior Deputy Governor, Central Bank of Sri Lanka
Faizal Salieh – Managing Director & Chief Executive Officer, Amana Bank
Krishan Thilakaratne – Chief Executive Officer, Islamic Business Unit, Lanka Orix Finance
M Afzar Alam Nomani – Country General Manager, MCB Bank
10:30 – 11:00
Break & Networking
11:00 – 11:45
Session Two: Advancing Sri Lanka's Solid Growth in Islamic Finance: A View from Established Markets in Asia and the Middle East
- How foreign market players and potential investors view Sri Lanka as an Islamic investment destination
- Outlook for sovereign and corporate Sukuk issuances – what foreign investors are looking for
- Analysing its progress thus far and steps needed to advance its development
- What sectors should market players and regulators focus on – food & agriculture, SMEs, PPPs
- The vital need to invest in marketing the Islamic finance concept and educating the market: lessons learnt from Malaysia and the Gulf
- Shariah considerations: Addressing the crucial issues of developing Shariah scholars and setting up Shariah boards
Suresh R I Perera – Principal – Tax & Regulatory, KPMG
Panelists:Dr A D Priyanka Baddevithana – Managing Director, Housing Development Financing Corporation, Maldives
Ariff Sultan – Regional Director (Asia), IdealRatings
Harith Harun – Chief Executive Officer, Maldives Islamic Bank
Hitesh Asarpota – Director, Capital Markets & Structured Finance, Emirates NBD Capital
11:45 – 12:00
Presentation: Developing an Enabling Tax Framework to Drive the Growth of Islamic Finance in Sri Lanka
Suresh R I Perera – Principal – Tax & Regulatory, KPMG
12:00 – 12:15
Presentation: Initiatives and Developments in Takaful, Re-Takaful and BancaTakaful
Reyaz Jeffrey – Chief Executive Officer, Amana Takaful Life
12:15 – 13:30
Lunch
13:30 – 14:15
Session Three: Assessing the Potential for Shariah Compliant Retail, Microfinance and Leasing Products
- Addressing the vital need to narrow the spread between borrowing and lending rates
- Developing Islamic leasing products suited to Sri Lanka’s massive demand in the transport, trade and services sectors
- Challenges faced by Islamic retail banks: Stiff competition, Shariah concerns and the crucial need for innovative product structures
- Islamic microfinance: Outlook and future prospects for Sri Lanka
- Tapping existing opportunities in Sri Lanka’s Halal industry: How can Islamic banks and Islamic windows benefit from this growing market
- Recognizing the need for structured programs to develop qualified talent in the Islamic finance sector
Muhammad Azad Zaheed – Associate Director, Adl Capital
Panelists:Dr Aishath Muneeza – Head of Islamic Finance, Capital Market Development Authority, Maldives
Imran Nafeer – Head of Microfinance, Muslim Aid
Imran Zahir – Head of Islamic Banking, NDB Bank
M K S Mohamed Bishry – Chief Manager – Islamic Banking, Bank of Ceylon
Siddeeque Akbar – Vice President – Consumer Banking and Strategic Marketing, Amana Bank
14:15 – 14:30
Presentation: Driving Growth in Sri Lanka's Islamic Funds Sector
Pathmanathan Asokan – Chief Executive Officer, Comtrust Asset Management
14:30 – 15:15
Session Four: Utilizing Islamic Finance as a Catalyst for Sri Lanka's Infrastructure, Funds and SME Sectors
- Attracting foreign investments for infrastructure projects: Prospects for public private partnerships and cross border financing from Asia and the Gulf
- Are Shariah compliant structures well suited to meet the needs of Sri Lanka’s infrastructure development projects?
- Outlook for Islamic unit trusts and private equity funds
- Addressing the need to develop new investment products catering to domestic and foreign investors in the retail and institutional space
- Developing innovative structures to serve Sri Lanka’s rapidly developing SME market
- Exploring the viability of establishing an Islamic real estate business in Sri Lanka through a Mudarabah fund model
Ishrat Rauff – Managing Director & Chief Executive Officer, Adl Capital
Panelists:Ammar Ahmed – Consultant, Dar Al Sharia
Fazly Marikar – Head of New Product Development and Gold Unit, Amana Bank
Muhammad Shoaib Ibrahim – Managing Director & Chief Executive Officer, First Habib Modaraba, Pakistan
Tyrone Hannan – Head – Global Transaction Banking, Deutsche Bank
15:15 – 16:00
Session Five: Crucial Steps to Develop Sri Lanka's Steady Growth in the Islamic Finance Industry
- Managing the issue of surplus liquidity in Islamic banks and action required by regulators
- Entrance of new market players and Takaful operators: Future growth prospects and challenges
- The crucial need to create a symbiotic relationship between Takaful providers and Islamic banks and windows to further develop the industry
- Finding solutions to the current tax restrictions in the repatriation of funds in order to grow foreign direct investments
- Impact of the credit ceiling on the growth and development of Islamic banks
Manil Jayesinghe – Partner, EY, Sri Lanka
Panelists:Fazal Ghaffoor – Chief Executive Officer, Amana Takaful
Hisham Ally – Head of Islamic Banking, HNB
Mohamed Azmeer – Chief Operating Officer, Amana Bank
U L Muthugala – Additional Superintendent of Public Debt, Central Bank of Sri Lanka
16:00 – 16:45
Coffee & Networking