John Glen MP, Economic Secretary to the Treasury and City Minister
Reflecting on an economic recovery and a stable EU departure, is now an opportunity for the UK Islamic financial services industry to reassess its strategy, activities, goals and global competitiveness? Should we ask how the industry has grown and developed over the past five years, how viable Islamic retail, wealth management or pension offerings can be successfully mass positioned in the UK, and how we build more confidence in such products? How do we shift perceptions of Shariah compliant finance from alternative, to complementary and supplementary? How does the recent UK sovereign Sukuk widen the investor base for the UK Islamic capital markets and what does the Bank of England liquidity facility mean for UK Islamic banks? Finally, how can UK Islamic finance continue to collaborate with social, sustainable and responsible finance, across a wide range of activities, to the advantage of both?
Dr Martin Carkett, Policy Lead – Science and Innovation, Tony Blair Institute for Global Change
Dr Usman Chaudry, Chief Risk Officer, Gatehouse Bank
As host of the 26th UN Climate Change Conference in November, the UK has an opportunity to drive an important agenda. However, alongside ‘Transition to Net Zero’ and decarbonisation targets, what is realistically achievable and what does net zero mean for sectors such as aviation, oil and gas and other asset-based industries? How are Shariah compliant financing products and assets playing a role in this hugely important transition? How also are Shariah compliant assets funding social impact initiatives in the UK, while contributing to the achievement of the UN SDGs and the Paris Accord? Is a UK sovereign sustainability Sukuk viable in the short term? Where and how do ESG investing and Shariah compliant investing complement each other, and how can we further leverage this important linkage? We ask an expert panel.
Allan Walker, Green Finance Specialist, Financial and Professional Services, Department for International Trade
Farmida Bi, Chair, Europe, Middle East and Asia, Norton Rose Fulbright LLP
Martina Macpherson, Global Head of ESG Strategy, ODDO BHF Asset Management & Private Equity
Nick Villiers, Director of Sustainable Finance, University of Cambridge Institute for Sustainability Leadership
What will the second Sovereign Sukuk achieve and what does it represent for UK Islamic financial services, and UK Islamic banks in particular? What does the UK offer as a listing destination for sovereign, supranational and corporate Sukuk issuance, as well as other products such as investment trusts and ETFs? Is there an effective secondary market in the UK for Sukuk? How can Shariah compliant instruments, including Sukuk, be further applied to the funding of alternative asset classes and sustainable assets? How is technology such as blockchain shaping and influencing Islamic corporate banking and capital markets, considering notable recent innovations by GCC Islamic banks? Finally, how can global and domestic incentives, regulation and standards applicable to the issue of Shariah compliant financing products, be more effectively aligned for the good of the market?
Arshadur Rahman, Manager, Bank of England
Ayman Sejiny, CEO and General Manager, The Islamic Corporation for the Development of the Private Sector
Omar Mustafa Ansari, Secretary General, Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
Razvan Dumitrescu, Principal, Local Currency and Capital Markets Development, European Bank for Reconstruction and Development
Through a panel of international investment professionals, we explore current and potentially innovative Shariah compliant investment types and asset classes. What are the latest opportunities and demands for Shariah compliant direct investment into UK real estate market? Considering the evolution of working practices in the UK, what is the future of the office and what are the implications for UK commercial real estate investment? With an active private equity market, what are potential targets for investment into the UK market and what structures are being employed? Aside, what new and interesting asset classes have presented themselves in the past year?
Trevor Norman, Director – Islamic Finance and Funds Group, VG Trust
The IFN Fintech Landscape identifies 39 Islamic fintech providers in the UK, making it the world’s largest Shariah fintech centre. Considering this, how do we assess the rapid evolution of the sector? What is the value proposition and market positioning of UK Islamic fintech offerings and what can Shariah compliant challenger banks learn from their conventional counterparts? How can UK Islamic fintech fulfil its potential through offering Shariah compliant financial solutions to minorities, particularly in retail finance, pensions and wealth management? How can traditional Islamic financial institutions effectively maintain competitiveness in these product areas through innovation and investment? What are the potential implications, if any, of the findings of the Kalifa Report for UK Islamic financial technology companies? What is the potential for a government-sponsored tech growth fund and how would this drive innovation? We seek the views of an expert panel.
Vineeta Tan, Managing Editor, Islamic Finance news
Anouar Adham, Founder and CEO, CrowdToLive
Areeb Siddiqui, Founder and CEO, KESTRL
Sharjil Ahmed, Co-Founder and CEO, Cykube
