08:00 – 09:00
Registration
09:00 – 09:15
Welcome Address
Dr Ibrahim M Turhan – Chairman & Chief Executive Officer, Borsa Istanbul
09:15 – 09:30
Opening Keynote Address
Vahdettin Ertas – Chairman, Capital Markets Board of Turkey
09:30 – 10:20
Session One: Sustaining Turkey's Exceptional Growth and Development in the Participation Finance Market
- Role of market players and regulatory bodies in maintaining Turkey’s impressive advances in the participation capital market
- What do Turkey’s sovereign issuances signify to the market and outlook for future issuances
- Examining notable issues in the past year and why they succeeded: Turkiye Finans US$500 million Sukuk Murabahah, Bank Asya US$380 million syndicated financing facility, Republic of Turkey US$3 billion sovereign issuances
- Discussing the crucial need for a robust equity market as a balance to the thriving domestic Sukuk market
- Outlook for Sukuk transactions from Turkey’s conventional banks in the coming year
- Evolving landscape: what do the new rules mean for the establishment of new participation banks in Turkey and what role will the new state-owned participation banks play
Hulusi Horozoglu – Director, Head of Global Capital Financing and Debt Finance, Global Banking, HSBC Turkey
Panelists:Ayhan Keser – Executive Vice President, Albaraka Turk Participation Bank
Feyzullah Egriboyun – Executive Vice President, Bank Asya
Hitesh Asarpota – Director, Capital Markets & Structured Finance, Emirates NBD Capital
Dr Ibrahim M Turhan – Chairman & Chief Executive Officer, Borsa Istanbul
Rizwan Kanji – Partner, King & Spalding
Shahin Mansuri – Senior Director, Investment Banking at Bank Alkhair
10:20 – 10:35
Keynote Address
Murat Cetinkaya – Deputy Governor, Central Bank of Turkey
10:35 – 10:50
Presentation: Assessing the Growth Potential for Shariah Compliant Banking & Financial Inclusion in Turkey
Baljeet Kaur Grewal – Managing Director & Vice Chairman, Kuwait Finance House Research
10:50 – 11:05
Keynote Presentation: Driving Innovation in Sukuk and Islamic Capital Markets Regulations to Support Growth
Murat Turker – Vice Chairman, Banking Regulation and Supervision Agency (BRSA)
11:05 – 11:20
Break & Networking
11:20 – 12:10
Session Two: Recent Developments in Regulations, Product Structures & the Global Economy: Overall Impact on the Islamic Capital Market in Turkey
- Diversifying participation finance offerings: significance of the Capital Markets Board’s rules and tax regulations supporting the use of new structures for Sukuk issuances
- Cross border Sukuk issuance: Overcoming complexities in a civil law jurisdiction and leveraging opportunities through project and infrastructure financing
- Examining the revised legislation on foreign ownership of real estate and its impact on attracting further investments from the Gulf
- Malaysia’s firsthand experience on new regulations and product innovations: challenges, success stories and overall benefits
- Islamic capital market benefits for local companies exploring offshore opportunities beyond Turkish borders
- The growth of the European Islamic capital markets and Turkey’s contribution to this
Jawad Ali – Managing Partner – Middle East Offices, King & Spalding
Panelists:Abdulkadir Kahraman – Partner, Head of Tax, KPMG Turkey
Ilhami Koc – Deputy Chief Executive Officer, Isbank & Chairman, IS Investment
Mohamad Safri Shahul Hamid – Deputy Chief Executive Officer, CIMB Islamic, Malaysia
Dr Nusret Cetin – Senior Legal Counsel, Capital Markets Board of Turkey
Stella Cox – Chief Executive Officer, DDCap
12:10 – 13:00
Session Three: Assessing the Growth Potential for Turkey's Participation Asset and Fund Management Market
- Prospects for participation pension funds and equity funds
- Growth of private equity funds, exchange traded funds and wealth management
- Initiatives and developments in Takaful and reTakaful – future growth prospects and challenges
- Identifying current trends and innovations in product structures globally and application in the Turkish context
- Strategies for corporate finance and project finance
- Challenges faced by participation fund managers – stiff competition, Shariah concerns and the crucial need for innovative product structures
Sohail Jaffer – Deputy CEO, FWU Global Takaful Solutions, Dubai
Panelists:Avsar R Sungurlu – Assistant Managing Director, BMD Securities
Evren Yazman – Executive Director, Global Emerging Markets, JP Morgan Chase
Farmida Bi – Partner, Head of Islamic Finance – Europe, Norton Rose Fulbright
Magdy Eissa – Vice President, Business Development, IdealRatings
Sohail Zubairi – Chief Executive Officer, Dar Al Sharia Legal & Financial Consultancy
13:00 – 14:00
Lunch
14:00 – 14:45
Deal Roundtable: Discussing Key Trends, Features and Success Factors of the Year's Most Prominent Deals
- Republic of Turkey US$1.5 billion 144a / RegS Debut Sukuk
- Turkiye Finans US$500 million Sukuk Murabah
- Albaraka Turk US$200 million Tier 2 Sukuk
- Albaraka Turk Katilim Bankasi Syndicated Murabaha Financing Facility
- Bank Asya US$250 million subordinated Sukuk
- Aktif Bank Sukuk Varlık Kiralama TL 100,000,000 Lease Certificates (Istanbul International Financial Center Project Sukuk)
Mohammed Paracha – Partner, Joint Head of Islamic Finance, Norton Rose Fulbright (Middle East)
Panelists:Cenk Karacaoglu – Vice President, Financial Institutions Division, Bank Asya
Faisal Fazli – Vice President, Global Islamic Banking, Citigroup Global Markets
Mehmet Fatih Bulac – Vice President, Financial Institutions & Islamic Syndications, Turkiye Finans
Mustafa Begun – Vice President, Investment Banking, Kuveyt Turk
Dr Serdar SĂ¼mer – Executive Vice President, Capital Markets Group, Aktif Bank
14:45 – 15:00
Presentation: Prospects and Opportunities in the Turkish Pension Market
Sohail Jaffer – Deputy CEO, FWU Global Takaful Solutions, Dubai
15:00 – 15:45
Session Four: Crucial Steps to Advance Turkey's Rapid Growth in the Participation Finance Space
- Attracting foreign demand for domestic issuances – what foreign investors are looking for
- Choosing the right jurisdiction and the right tax structure: a bottom-top assessment to be made taking into account investment level, holding level and target investors level
- Addressing the need for more equity based participation products in the Turkish market and the role of market players and regulators
- Factors hindering access to international investors – lack of investment grade status, civil law limitations – and steps to overcome them
- Examining issues relating to fees, distribution, intermediaries and ratings
- Recognising the growing need for structured programs to raise awareness amongst issuers and develop sustainable, qualified talent in the Islamic financial services industry
Salman Ahmed – Partner, Head of Islamic Finance MENA, Trowers & Hamlins
Panelists:Alain Verbeken – Director, Cross-Border Tax, Deloitte Tax & Consulting Luxembourg
Asim Khan – Managing Director, Khalij Islamic
Erkan Tercan – Counsel, Paksoy
Mohammad Farrukh Raza – Managing Director, IFAAS
Murat Hatipoglu – Director, Advisory Services – Financial Services Lead, EY Turkey
15:45 – 16:30
Coffee & Networking