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IFN UK 2022

Capitalizing on Opportunities in Islamic Sustainable Finance and Technology in the UK

5th September 2022,
Mansion House, London

#IFNUK2022

SUPPORTED BY

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  • Opening Remarks
  • Welcome Address
  • Keynote
  • Session 1
  • Keynote
  • Keynote
  • Session 2
  • Session 3
  • Session 4
  • Session 5
Opening Remarks
Chairman’s Opening Remarks

Abdulkader Thomas, Director, SHAPE Knowledge Services

Welcome Address
Welcome Address

Peter Estlin, Representative of The Lord Mayor of the City of London

Keynote
Keynote Address

Hani Salem Sonbol, CEO, International Islamic Trade Finance Corporation and Acting CEO, General Manager, Islamic Corporation for the Development of the Private Sector

Session 1
Leaders’ Question Time: New Challenges — Islamic Finance’s Response

We pose a series of high-level strategic questions to senior representatives of the UK Islamic financial services industry. What is Islamic finance’s response to a rapidly shifting macroeconomic environment, and will inflation lead to innovative Islamic financial solutions? What form and scale might this innovation take? How can UK Islamic finance and investment create a genuinely competitive advantage in key areas such as retail, commercial, corporate banking and wealth management? How are UK Islamic retail banks innovating customer acquisition and retention strategies, and how successful have these been? Are there inhibitions and limitations the Islamic financial services industry needs to acknowledge and overcome? Does Islamic finance want to become mainstream, or are we content with the alternative label? What’s working in financial technology, and who ultimately benefits: financial institutions, consumers or both? Is technology being fully utilized to address key customer concerns surrounding authenticity and the minimization of uncertainty? Having witnessed the growth of ESG and sustainable finance, on reflection, are there things Islamic finance could have done differently?

Moderator:

Stella Cox, Managing Director, DDCAP

Panelists:

Michael Rainey, Partner, King & Spalding
Dr Mohamed Damak, Senior Director, Global Head of Islamic Finance, S&P Global Ratings
Mohammed Paracha, Head of Middle East, Norton Rose Fulbright
Richard Thomas, Managing Director, Sustainable Economy
Dr Usman Chaudry, Chief Risk Officer and Executive Director of the Board, Gatehouse Bank

Keynote
Keynote Address

Zainal Izlan Zainal Abidin, Deputy Chief Executive, Securities Commission Malaysia

Keynote
Keynote Address

Naz Shah, Member of Parliament

Session 2
Technology and Marketplace Financing Roundtable: Digitalization and the Evolution of UK Islamic Financial Services

The digitalization of Islamic financial services: what is working, what is viable and what is not? What do the answers to these questions mean for the evolution of UK Islamic financial services? What would assist domestic Islamic financial institutions in the further development of Islamic digital retail, wealth management, Takaful and pension offerings in the UK? What are notable milestones and achievements in the development of systems and software for Islamic banks and financial institutions and what technology is available to help financial institutions drive scale, integrity, efficiency and ultimately profitability? What opportunities are created by crowdfunding and peer-to-peer lending platforms for the joint ownership of Shariah compliant assets and investment projects in the UK? What does the growth of digital investment management platforms and robo-advisory mean for investment managers, and what new opportunities are available for Shariah compliant savers and investors? What are the potential uses and applications of digital assets in financial markets today, and how are these assets exchanged, listed and traded? Finally, does digitalization allow us to better address issues such as product authenticity and the minimization of uncertainty? We seek the views of an expert panel.

Moderator:

Vineeta Tan, Managing Editor, Islamic Finance news

Panelists:

Areeb Siddiqui, Founder and CEO, Kestrl
Hassan Daher, Founder and CEO, Qardus
Youness Abidou, Founder and CEO, Nester

Session 3
Building Momentum: Successfully Positioning Islamic ESG and Sustainable Finance and Investment in the UK

How do policymakers balance the fulfillment of energy demands with the achievement of the principal goals of COP26? Why is a united regulatory response to climate risk so important for the financial services industry, and how do we evaluate initiatives that encourage investors to channel capital and resources into sustainable economic activity, climate transition and social responsibility? How do we address the implications of various taxonomies, frameworks and standards, and identify what can now be labeled green investments? How can potential green bond and Sukuk issuers effectively connect issuances to internal sustainability frameworks, and what is the likelihood of a UK sovereign green Sukuk? With ESG and sustainability continuing to grow in Islamic capital markets issuance, when will we see the measurement of impact? Are sufficient issuers engaging with independent, third parties to measure green, sustainable and social credentials? Can we further exploit the convergence of sustainable finance and Islamic finance, and develop suites of investment products that satisfy both criteria?

Moderator:

Hari Bhambra, Global Head of Compliance Solutions, Apex Group

Panelists:

Craig Reeves, Director and Founder, Prestige Funds
Abou Jallow, Senior Advisor to the CEO, International Islamic Trade Finance Corporation
Michael Rainey, Partner, King & Spalding
Sohail Ali, Partner, DLA Piper
Zalina Shamsudin, Head of International Programmes, Climate Bonds Initiative

Session 4
Islamic Capital Markets: Fit for Purpose

What represents innovation in the contemporary Islamic capital market: pioneering structures, sourcing underliers or the transition from ESG to impact? What options do hybrid or combination Sukuk offer issuers, particularly in asset-heavy industries, and why have such structures been so successful in the Gulf? How do Tier 1 and Tier 2 Sukuk offer financial institutions a flexible, efficient and user-friendly way of satisfying regulatory capital requirements, and what do perpetual Sukuk structures offer such issuers? What does the Bank of England Alternative Liquidity Facility offer financial institutions in terms of meeting regulatory requirements under Basel III prudential rules? What did the second sovereign Sukuk mean for Islamic finance in the UK, how was the deal structured and why was it successful? How has innovation been incorporated into Islamic project and infrastructure finance, particularly regarding concession agreements, cash contributions and investor protection? With ESG and sustainability continuing to grow in Islamic capital markets issuance, when will we see the measurement of impact? With the demise of LIBOR, is SOFR a good alternative for the Islamic capital market? We seek the views of an expert panel.

Moderator:

Dr Natalie Schoon, CEO, Redmoney Consulting

Panelists:

Ahsan Ali, Managing Director and Head, Islamic Origination, Standard Chartered Saadiq
Nitish Bhojnagarwala, Vice-President – Senior Credit Officer, Financial Institutions Group, Moody’s Investors Service
Safdar Alam, CEO, Maydan Capital
Shrey Kohli, Head of Debt Capital Markets and Product Origination, London Stock Exchange

Session 5
The Deployment of Shariah Compliant Capital in the UK: Trends and Opportunities

What are the global investment flows and trends that continue to influence the deployment of Shariah compliant capital in the UK today? What are recent significant developments in Shariah compliant private equity, and can we identify potential targets for private equity investment in the UK market? What are the latest opportunities and demands for Shariah compliant direct investment into the UK real estate markets? How significant is the private placement market in the UK Shariah compliant investment landscape? What structures are being employed to facilitate Shariah compliant investments in the UK, and what investment types and asset classes are in favor? Can we identify geopolitical events, international developments and transactions that may influence future investment trends, and what are other potential areas for the deployment of Shariah compliant capital in the UK market? We seek the views of an expert panel.

Moderator:

Mike Tirman, Partner, Ice Miller

Panelists:

Amir Firdaus, Partner, CFO, OFFA
Andy Thomson, Head of Real Estate, Bank of London & The Middle East
Dr Hurriyah El Islamy, Executive Board Member, Badan Pengelola Keuangan Haji (BPKH)
Moad Giebaly, Partner, Trowers & Hamlins
Dr Scott Levy, Founder, Al Waseelah

IFN UK Forum Review

IFN UK Forum 2022 Review

The UK: Safe haven no more?
The UK financial markets are riled up. With a new monarch, a new prime minister and a new government all within the space of less than a month, investor confidence is greatly shaken. The UK’s recent dramatic mini budget has sent the pound spiraling to record-lows amid a 40-year high inflation. In the weeks leading up to the UK unveiling its Growth Plan 2022, the general sentiment at a gathering of industry stalwarts in London was already jittery over potential disruptions to its Islamic finance industry as macroeconomic uncertainties amplify.....Read More

About the IFN UK Forum

The 14th IFN UK Forum, the Islamic finance industry’s longest running and leading European event, was again held in London, at Mansion House under the patronage of the Lord Mayor of London and fully supported by Her Majesty’s Government, TheCityUK and The City of London.

Quite simply, the annual IFN UK Forum is the most significant day for Islamic finance in Europe, attracting regulators and the industry elite from around the world in possibly the most historic and stunning venue available.

The IFN UK Forum 2022 continued to uphold itself as a pillar of exchange of information, strategy, and growth in the Islamic finance sector for the UK, Europe and beyond through unparalleled expert panel discussions, private networking and exclusive dialogue sessions.

Download Post Event Report

Forum Keynotes

Hani Salem Sonbol

Hani Salem Sonbol

CEO, International Islamic Trade Finance Corporation and Acting CEO, General Manager, Islamic Corporation for the Development of the Private Sector
Hani Salem Sonbol
Hani Salem Sonbol
CEO, International Islamic Trade Finance Corporation and Acting CEO, General Manager, Islamic Corporation for the Development of the Private Sector

Eng. Hani Salem Sonbol, CEO, International Islamic Trade Finance Corporation (ITFC) and Officer in Charge Chief Executive Officer of The Islamic Corporation for the Development of the Private Sector (ICD)

Eng. Hani Salem Sonbol’s career in Development Banking started three decades ago, where he served in many technical and leading positions across the Islamic Development Bank (IsDB) Group. Eng. Hani accumulated diverse knowledge and experience during his career in positions as technical advisor to the President IsDB, Director of the IsDB Group President’s Office, Director of IsDB Group Regional Office Morocco, Director Trade Finance and Promotion Department, and Deputy CEO ITFC, and Acting Chief Executive Officer at Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). Eng. Hani is a Saudi National, obtained an Associate of Arts Degree from Marymount California University, USA; Bachelor’s Degree in Civil Engineering from Bluefield State University, West Virginia; and master’s degree in Engineering Management with honors from George Washington University, USA. In addition, he obtained several distinctive Executive leadership development programs at Harvard University, USA, and London Business School England.

Naz Shah

Naz Shah

Member of Parliament
Naz Shah
Naz Shah
Member of Parliament

Naz Shah is the member of parliament for Bradford West and Labour’s shadow minister for crime prevention. First elected in 2015, Naz subsequently went on to retain her position in both the 2017 and 2019 general elections with increased majorities. Her past roles include being a member of the Home Affairs Select Committee, PPS to the shadow chancellor, shadow minister for community cohesion and shadow women and equalities minister. Naz is currently the chair of the Muslim Women’s All-Party Parliamentary Group, chairs the Islamic Banking APPG and is vice-chair of the British Muslims APPG. She co-chairs and supports other All Party Parliamentary Groups.

Peter Estlin

Peter Estlin

Representative of The Lord Mayor of the City of London
Peter Estlin
Peter Estlin
Representative of The Lord Mayor of the City of London

Peter Estlin is a senior banker with over 25 years of experience with Barclays and Citigroup in London, New York and Hong Kong. He trained as a chartered accountant, becoming a partner with Coopers & Lybrand in 1993 before joining Salomon Brothers Asia as regional CFO. Following a series of acquisitions and mergers, he then served as CFO for Citigroup’s corporate and investment banking divisions in New York and London. He joined Barclays in 2008 as group financial controller and has been CFO of the retail and business banking and non-core divisions as well as interim group CFO.

Peter is currently the chair of FutureDotNow, a coalition of UK businesses committed to boosting the digital skills of the UK. He is also a founder patron of OnSide Youth Zones as well as the inaugural chair of the Association of Apprentices. He was Lord Mayor of the City of London in 2018/19 and is currently an independent director of Rothschild & Co. He spent his 35-year career in finance and banking in London, New York, Hong Kong and Singapore.

Peter was educated at King Edward’s Witley and the University of Bristol, where he served on the Ethics Committee until last year.

Zainal Izlan Zainal Abidin

Zainal Izlan Zainal Abidin

Deputy Chief Executive, Securities Commission Malaysia
Zainal Izlan Zainal Abidin
Zainal Izlan Zainal Abidin
Deputy Chief Executive, Securities Commission Malaysia

Zainal Izlan Zainal Abidin was appointed Deputy Chief Executive of the SC on 5 April 2018. He joined the SC in January 2011 as Executive Director, Islamic Capital Market and was appointed Managing Director, Development and Islamic Markets in November 2016.

He is also Chairman of Capital Markets Malaysia, an entity established by the SC to promote the Malaysian capital market, and a Board member of the Securities Industry Development Corporation. Zainal Izlan has over 30 years’ experience in the financial services industry. He began his career with Citibank before moving to MIDF Amanah Asset Management. Just before joining the SC, Zainal Izlan was the CEO of i-VCAP Management.

Zainal Izlan holds a Bachelor of Science in Economics (dual concentration in Accounting and Finance) from The Wharton School, University of Pennsylvania, USA, and is a Chartered Financial Analyst (CFA) charterholder.

Forum Speakers

Abdulkader Thomas

Abdulkader Thomas

Director, SHAPE Knowledge Services
Abdulkader Thomas
Abdulkader Thomas
Director, SHAPE Knowledge Services

Abdulkader Thomas is the president and CEO of SHAPE for Economic Consulting doing business as SHAPE Knowledge Services, Kuwait. Abdulkader has over 30 years of diversified financial services experience. Abdulkader’s background includes capital markets, real estate finance and trade finance. He has served in various international banks and dealt with the regulatory approval for Islamic products in different countries, and consults for and trains financial institutions, regulators, and businesses about Islamic finance.

Along with his team at SHAPE, Abdulkader works on projects that include launching de novo Islamic banks and Islamic banking windows, funds, Sukuk, regulations, policies and procedures including Shariah policies, Shariah compliance, product development and structuring.

Abdulkader is a member of the International Advisory Committee for Islamic Capital Markets at the Securities Commission of Malaysia.

A graduate of the Fletcher School of Law and Diplomacy in international trade, Abdulkader earned a Bachelor of Arts degree (Honors) in Arabic and Islamic studies from the University of Chicago.

Abdulkader is a frequent speaker on Islamic financial and banking matters. He has co-authored or edited several works in the field including ‘Structuring Islamic Financial Transactions’ with Stella Cox and Bryan Kraty (London: Euromoney, 2005), among others.

Abou Jallow

Abou Jallow

Senior Advisor to the CEO, International Islamic Trade Finance Corporation
Abou Jallow
Abou Jallow
Senior Advisor to the CEO, International Islamic Trade Finance Corporation

Abou Jallow is the General Manager of the Operations Department with overall responsibility for implementing the ITFC trade finance portfolio (Disbursements and Receivables). He joined the Islamic Development Bank (IDB) in 2004 and transferred to ITFC at its inception in January 2008. Prior to IDB, he held several positions in commercial banking and the private sector and his last position was that of Head of Corporate Sales at Standard Chartered Bank.

Abou Jallow obtained his Bachelor’s degree in Economics with Honours from the International Islamic University, Malaysia, in 1988 and his MBA in Accounting and Finance from the Maastricht School of Management in the Netherlands in 1993. In addition, he is a Certified Credit Professional by the Standard Chartered Bank.

Ahsan Ali

Ahsan Ali

Managing Director and Head, Islamic Origination, Standard Chartered Saadiq
Ahsan Ali
Ahsan Ali
Managing Director and Head, Islamic Origination, Standard Chartered Saadiq

Ahsan Ali is responsible for the global Islamic corporate and institutional banking business at Standard Chartered Bank (SCB). Since joining SCB in March 2004, he has built this business from inception and has led several award-winning and industry-defining transactions. Ahsan has over 24 years of experience in the financial services industry, of which the last 14 have been in Islamic banking.

Ahsan holds an MBA from the Indian Institute of Management, Calcutta and a degree in mechanical engineering from the Indian Institute of Technology, Delhi, in addition to a CFA [chartered financial analyst] designation.

Amir Firdaus

Amir Firdaus

Partner, CFO, OFFA
Amir Firdaus
Amir Firdaus
Partner, CFO, OFFA

Amir Firdaus has been at the forefront of the growth in Islamic finance in the UK. The chartered accountant’s 20-year career has been across high-profile roles for legacy-free challenger banks, with an expanding reach in the personal, SME and intermediary banking sectors with a focus on business models and strategy. Amir has worked for Aldermore, Al Rayan and Sainsbury’s Bank. Amir has structured numerous Sukuk transactions and led the residential mortgage-backed security issuance at Al Rayan Bank. While the head of asset and liability management at Aldermore Bank, he facilitated its balance sheet growth from GBP150 million (US$177.37 million) to GBP4.5 billion (US$5.32 billion).

Andy Thomson

Andy Thomson

Head of Real Estate, Bank of London & The Middle East
Andy Thomson
Andy Thomson
Head of Real Estate, Bank of London & The Middle East

Andy Thomson is the head of real estate at the Bank of London & The Middle East, a UK-headquartered Shariah compliant bank, which also has an office in Dubai and a new office opening soon in Riyadh.  He leads a team of 20 property bankers and his role covers three areas:

  • Real estate finance — focused on origination of development and investment facilities for commercial and residential properties in the UK.
  • Real estate investment — focused on buying real estate assets in the UK and selling down equity to ultra-high-net-worth individuals in the GCC.
  • Mortgages — provides high value buy-to-let and holiday home non-regulated mortgages to clients from the GCC.

Andy is an experienced real estate finance professional with a 30-plus-year track record in commercial banking including roles in origination, portfolio management, credit, debt advisory, special servicing and restructuring.

Areeb Siddiqui

Areeb Siddiqui

Founder and CEO, Kestrl
Areeb Siddiqui
Areeb Siddiqui
Founder and CEO, Kestrl

Areeb Siddiqui is the founder and CEO of Kestrl: Muslim Money App, helping Muslims to grow their wealth without compromising their beliefs using budget, savings and investment solutions. Before starting Kestrl, Areeb completed an MBA from the University of Cambridge after spending his career in management consulting at Deloitte and PwC where he helped banks and wealth managers with their fintech strategies.

Craig Reeves

Craig Reeves

Director and Founder, Prestige Funds
Craig Reeves
Craig Reeves
Director and Founder, Prestige Funds

Craig Reeves is the founder of Prestige Group established in 2007 which consists of three main businesses focusing on fund management, small business lending and renewable energy infrastructure. He has raised more than US$2.5 billion in fund assets and US$700 million in wholesale debt. Craig has over 27 years of experience in financial services as a fund manager, trader and investor of alternative investments, hedge funds, capital markets and real estate. Craig graduated from Huddersfield University with a business degree and from University of Greenwich with a finance diploma. He also studied at the New York Institute of Finance.

Passionate about enabling investors to make uncorrelated, positive returns and a social impact through renewable energy investment and small business finance, Prestige’s culture of innovation allows it to offer high-quality alternative investment products that make it the true pioneer in its chosen markets.

Hari Bhambra

Hari Bhambra

Global Head of Compliance Solutions, Apex Group
Hari Bhambra
Hari Bhambra
Global Head of Compliance Solutions, Apex Group

Hari Bhambra has over 20 years of experience in financial services regulation, having been part of development teams at two financial regulators: Financial Services Authority in the UK and Dubai Financial Services Authority in Dubai. Hari’s early career began at Goldman Sachs International, London. She has authored numerous publications on regulation and has delivered training for the CASS MBA and Chartered Institute for Securities & Investment. She holds a Master of Laws degree, the Diploma in Legal Practice and a certificate in blockchain and artificial intelligence. Hari has advised regulators on the systemic implications of the integration of Islamic finance into secular economies. Hari oversees Apex’s Global Compliance solutions line following the acquisition of Praesidium, a risk and regulatory advisory practice that provides compliance and anti-money laundering services to global financial services institutions.

Hassan Daher

Hassan Daher

Founder and CEO, Qardus
Hassan Daher
Hassan Daher
Founder and CEO, Qardus

Hassan Daher (PhD, CFA) is the founder and CEO of Qardus, the UK’s first ethical and Shariah compliant business financing platform. He has 15-plus years of experience in finance and Islamic finance obtained while at Deloitte Corporate Finance based in Dubai in the UAE and as an independent consultant. Hassan has an in-depth understanding of the financial technology space on both a technical and commercial level. While building Qardus, he was admitted into two of the top tier European accelerator programs, Entrepreneur First and Founders Factory based in London. Hassan is a graduate of Manchester University and is also a CFA charterholder and holds a PhD in Islamic finance. He has authored several articles in top tier banking and finance journals and has presented his findings in numerous conferences.

Dr Hurriyah El Islamy

Dr Hurriyah El Islamy

Executive Board Member, Badan Pengelola Keuangan Haji (BPKH)
Dr Hurriyah El Islamy
Dr Hurriyah El Islamy
Executive Board Member, Badan Pengelola Keuangan Haji (BPKH)

Dr Hurriyah El Islamy is currently serving as an executive board member of Badan Pengelola Keuangan Haji, an independent sovereign agency empowered by law to manage the Indonesian Hajj pilgrim funds. She was named as one of the most active Islamic finance activists by Bank Indonesia and has global experience in Islamic finance having served as the director for CIMB Group responsible for all Islamic businesses of the group. She was also the director of Capinnova Investment Bank, an Islamic investment arm of the Bank of Bahrain and Kuwait after she served Kuwait Finance House Bahrain leading the Compliance and Anti-Money Laundering Department there while (also) serving as the legal counsel.

Dr Hurriyah remains active in the Islamic finance industry as she is the advisor in Islamic finance to the Astana International Finance Centre, a board member and strategic advisor to Islamic Fintech Alliance and is also listed as an IMF expert in Islamic finance and capital markets. She has a Bachelor of Laws (Hons) degree, a Master’s degree in corporate law and a PhD.

Michael Rainey

Michael Rainey

Partner, King & Spalding
Michael Rainey
Michael Rainey
Partner, King & Spalding

Mike Rainey advises lenders and borrowers in connection with their financing needs, focusing on project finance in the GCC, financing and restructuring in Saudi Arabia and the UAE and real estate finance and investment in the GCC and Europe. Mike advises on transactions using both conventional and Shari’ah-compliant financing.

Ranked by The Legal 500 U.K. and The Legal 500 EMEA both as a “leading individual” and for his Islamic finance practice.

Mike Tirman

Mike Tirman

Partner, Ice Miller
Mike Tirman
Mike Tirman
Partner, Ice Miller

Mike Tirman is a partner in Ice Miller’s Real Estate Group and advises and represents clients in all areas of real estate law, including acquisitions and dispositions, financing (including various forms of Shariah compliant financing), ground leasing, development, land use and zoning, entity structuring and joint ventures.

Some of Mike’s representative transactions include, among others, representing a buyer in a US$195 million Shariah compliant acquisition and CMBS financing of a portfolio of 30 industrial properties, representing a landlord in a US$104 million refinance of a portfolio of four industrial properties in New Jersey encumbered by ground leases and representing a REIT in a US$30 million acquisition of a parking garage and execution of a reverse 1031 exchange.

Mike is licensed to practice law in Illinois and Indiana.

Moad Giebaly

Moad Giebaly

Partner, Trowers & Hamlins
Moad Giebaly
Moad Giebaly
Partner, Trowers & Hamlins

Moad Giebaly has experience of advising on a range of corporate work including domestic and international mergers and acquisitions, joint ventures, commercial contracts and general corporate advice. Moad has a particular focus on the real estate sector which ranges from advising developers and local authorities to advising on inward investment (from the MENA and ASEAN regions) in the real estate and hotels and leisure sectors, including those involving the corporate structuring of Shariah compliant acquisitions of shares and assets and establishing Shariah compliant offshore funds.

Dr Mohamed Damak

Dr Mohamed Damak

Senior Director, Global Head of Islamic Finance, S&P Global Ratings
Dr Mohamed Damak
Dr Mohamed Damak
Senior Director, Global Head of Islamic Finance, S&P Global Ratings

Dr Mohamed Damak is a senior director of financial services at S&P Global Ratings. He covers financial institutions in the Middle East and Africa. Dr Mohamed is also the global head of Islamic finance at S&P Global Ratings, leading a global team of Islamic finance analysts.

Before rejoining S&P Global Ratings, Dr Mohamed worked as a principal credit risk officer for the African Development Bank in Tunis. From 2006 to 2010, he worked for S&P Global Ratings covering conventional and Islamic financial institutions in the Middle East and North Africa region.

Dr Mohamed holds a PhD in finance and a Master’s degree in money, banking and finance from University of Paris 2, Pantheon Assas and a Master’s degree in financial institutions management from Ecole Supérieure de Commerce de Tunis.

Mohammed Paracha

Mohammed Paracha

Head of Middle East, Norton Rose Fulbright
Mohammed Paracha
Mohammed Paracha
Head of Middle East, Norton Rose Fulbright

Mohammed Paracha is a banking and finance lawyer based in Dubai. He is the head of the Middle East, as well as the head of Norton Rose Fulbright’s Islamic finance practice for the Middle East and Africa.

Mohammed has been active in the Middle East for nearly 20 years, having worked in Norton Rose Fulbright’s London and Bahrain offices before moving to Dubai in 2011. He became the head of Norton Rose Fulbright’s Middle East practice in January 2021.

Mohammed’s practice focuses on all types of Islamic finance covering a wide range of asset types, investment classes and industrial sectors. With a background in asset and project finance, Mohammed advises on Shariah compliant asset finance, trade finance, real estate finance and project financings. He also advises on the structuring of Islamically acceptable investment funds and has advised on the establishment of new Islamic financial institutions in various countries. Mohammed has strong relationships with many of the internationally renowned Shariah scholars and is a regular speaker at conferences and seminars on Islamic finance topics.

Mohammed is recommended as a leader in his field by Chambers and Partners, The Legal 500, Acritas and IFLR.

Dr Natalie Schoon

Dr Natalie Schoon

CEO, REDmoney Consulting
Dr Natalie Schoon
Dr Natalie Schoon
CEO, REDmoney Consulting

Dr Natalie Schoon is a results-driven professional with a varied background across the financial industry including investment banking, treasury change management, capital adequacy, wholesale banknote operations, regulatory change (Basel Accords), risk management, compliance and Islamic finance. She has lived and worked in Europe, the Middle East, Asia and Eastern Africa and works for both small and large international organizations globally.

Among others, Natalie was responsible for the design, implementation, management and succession planning for the Islamic financial infrastructure for the Agricultural Development Fund (a USAID-funded program in Afghanistan) and has been instrumental in the design of a stand-alone solution for access to finance for women (Zahra). On behalf of GIZ, she has researched the lag of Islamic MSME finance. In her capacity as the head of product development for Bank of London and The Middle East, she was responsible for responding to consultation papers from the UK regulators, the Bank Operating Model and engaged with the regulator to complete the application for the banking license, as well as the development of new Shariah compliant product lines for the bank.

Natalie has managed training in credit risk, capital structure, statistics, economics and financial markets for a wide range of organizations globally. She recently finalized an extended regulatory change project for a UK-based bank covering the implementation of the recommendation of the Independent Commission on Banking, the successful completion of an application for the extension of IRB credit risk permission to additional legal entities, a gap analysis on the risk models for the implementation of IFRS9 and new regulatory changes for EBA and Basel 3.

Natalie works closely with the Chartered Institute for Securities and Investment in the UK on regulatory workbooks for, among others, Cyprus, Dubai, Qatar, Palestine and Kuwait. She has worked on the minimum capital standards for mortgage lending in Pakistan to promote the primary and secondary mortgage market (The World Bank) and successfully designed the new rules and regulations for trading in Sukuk and derivatives as well as short-selling for the Bangladesh Securities and Exchange Commission. She has worked on gender equality projects in Asia and Africa.

Nitish Bhojnagarwala

Nitish Bhojnagarwala

Vice-President – Senior Credit Officer, Financial Institutions Group, Moody’s Investors Service
Nitish Bhojnagarwala
Nitish Bhojnagarwala
Vice-President – Senior Credit Officer, Financial Institutions Group, Moody’s Investors Service

Nitish Bhojnagarwala is a vice-president–senior credit officer with Moody’s Financial Institutions Group. Based in Dubai, Nitish covers a portfolio of large conventional as well as Islamic financial institutions in the Middle East, Africa and Turkey.

Nitish joined Moody’s in 2011, and has led Sukuk roundtables and conducted workshops on banking and Islamic finance at various conferences in the Middle East, Europe and Asia. Nitish has also authored several research pieces, with a focus on regional banking, credit issues and issuer-in-depths for conventional as well as Islamic banks.

Prior to joining Moody’s, Nitish spent five years at Tamweel in the Treasury. He has also worked for KPMG in the UAE, where he covered financial institutions. Nitish holds an MBA from S P Jain Institute of Management & Research, with a major in finance (investment banking).

Richard Thomas

Richard Thomas

Managing Director, Sustainable Economy
Richard Thomas
Richard Thomas
Managing Director, Sustainable Economy

Richard G Thomas OBE, FCSI is Managing Director of Sustainable Economy Ltd (SEL), his own think tank and consultancy which is informed by his experiences in Islamic finance and economics. In his most recent research, he has been looking at the impact of applied principles for Gharar and Jehala on sustainable business planning, risk management and the role of AI and Big Data related thereto.

Richard has 40+ years of experience working in direct Sharia compliant banking and investment management and is currently involved in work related to Shariah compliant Infrastructure investment. Since the early 80’s he has worked primarily in London and in Kuala Lumpur. Prior to SEL he has been Chairman, and CEO of UK regulated award winning Islamic bank Gatehouse Bank PLC, In 2010 Richard received his Order of the British Empire (OBE) an honour bestowed by Her Majesty Queen Elizabeth II, in recognition his contribution to the UK Islamic Financial Services industry.

In 2017 he is accorded Freedom of the City of London. Since the 1980’s Richard has been associated with developing and founding new regulated Banking and Investment business operations in a number of disciplines, particularly in pioneering early liquidity management instruments, asset backed Sukuk (eg Al Safeena and Al Hamilla sukuk) Shariah compliant asset finance and direct equity investments, Shariah compliant home financing, Institutional and private client funds and other Asset Management activities. Working closely over many years with inspirational scholars such as Datuk Dr Mohd Daud Bakar and Sheihk Nizam Yaqubi, Richard has been instrumental in integrating Shariah compliant banking and asset management products into the UK risk and regulatory framework.

His personal interest in professionalism in Banking and Ethics in Financial Services, Corporate Governance and Risk Frameworks is also demonstrated by his previous Board membership of the Financial Services Professional Board (www.fspb.com) Malaysia. His principal employers prior to Gatehouse Bank plc have been, Saudi International Bank, United Bank of Kuwait, Arab Banking Corporation and Brown Shipley Merchant Bank. Richard is a Fellow of the Chartered Institute for Securities & Investment (CISI) He has been an INCIEF Governing Council Member, a Board Member of the Financial Services Professional Board (Malaysia).

He was previously a member of HMG Islamic Finance Task Force and UK Government Sukuk Task Force and the Chairman of the working groups UK Islamic Finance Secretariat and UKTI Special Representative for Kuwait. He has also been UKTI Financial Services Sector Advisory Board, Chairman, Islamic Finance Sub Group, HMRC Tax Advisory Group member (IFS), HM Treasury Standardisation committee. British Expertise – Advisory Council Member

Safdar Alam

Safdar Alam

CEO, Maydan Capital
Safdar Alam
Safdar Alam
CEO, Maydan Capital

Safdar Alam is CEO of Maydan Capital, a private investment platform for Shariah compliant venture financing. A specialist in Islamic finance for over two decades, Safdar has established and led the Islamic banking teams/businesses at some of the largest banks in the world (UBS, Credit Agricole, JPMorgan). He is well known in the global industry, and played a key role in several landmark transactions and ground-breaking developments in the industry. His experience has been gained working in the City in London (over 15 years), and being based for six years in Bahrain.

Dr Scott Levy

Dr Scott Levy

Founder, Al Waseelah
Dr Scott Levy
Dr Scott Levy
Founder, Al Waseelah

Dr Scott Levy is the founder of Al Waseelah, an award-winning Shariah compliant Sukuk issuance platform which includes structuring, arranging, originating and listing Sukuk. Dr Scott founded Al Waseelah in 2017 as a tech-savvy, cost-efficient way to creating Shariah compliant instruments; democratization for both issuers and investors.

Al Waseelah is dedicated to the global growth of Islamic capital markets through its comprehensive runway for international capital-raising, and its active participation in global dialogue through Islamic Finance news and the International Islamic Financial Market. Al Waseelah is at the forefront of ESG/SDG integration to Sukuk, being one of the Islamic finance institutions to commit to the Principles for Responsible Investment, and technological innovation, using the power of blockchain to bring transparency and accountability to each transaction. Al Waseelah has executed transactions across asset classes and currencies including green Sukuk Wakalah, corporate Sukuk, Mudarabah private equity liquidity structures and multicurrency liquidity management products.

With boots on the ground in London, Tallinn, Miami, Monaco, Dubai and Singapore, Dr Scott leads Al Waseelah’s global offering underpinned by a talented, dynamic, global, multicultural and multilingual team. Dr Scott is a liveryman of the Worshipful Company of International Bankers and the Worshipful Company of Musicians, a member of Lincoln’s Inn and a senior member of Wolfson College, Cambridge.

Shrey Kohli

Shrey Kohli

Head of Debt Capital Markets and Product Origination, London Stock Exchange
Shrey Kohli
Shrey Kohli
Head of Debt Capital Markets and Product Origination, London Stock Exchange

Shrey Kohli is responsible for London Stock Exchange (LSE)’s debt and structured finance markets and is part of the primary markets management committee. He was previously the head of strategic development for LSE. He is the co-chair of the City of London’s India–UK Capital Markets Working Group, chair of the Green and Sustainable Sukuk Taskforce under the High-Level Working Group on Islamic Finance established at COP26 and was a member of the Advisory Council to the Green & Social Bond Principles Executive Committee from 2020 to 2022. During 2018–19, Shrey was seconded to the International Finance Corporation as the financial officer in treasury and syndications. He has previously worked at McKinsey and Co, the strategy consultancy. He holds a Master of Science degree in finance and economics from the London School of Economics and a Bachelor of Science (Hons) degree in physics from St Stephen’s College, University of Delhi.

Sohail Ali

Sohail Ali

Partner, DLA Piper
Sohail Ali
Sohail Ali
Partner, DLA Piper

Sohail Ali is a litigation and arbitration lawyer, with over 15 years of experience advising a wide range of corporate clients on high-value, premium banking and commercial disputes. Sohail has particular expertise in advising on complex, cross-border disputes. He also leads the firm’s global Islamic finance disputes practice. Sohail has done a number of client secondments including at Goldman Sachs, Barclays Capital, Mars and Lloyds Banking Group and he understands the importance of providing clear, commercial and strategic advice to his clients.

Stella Cox

Stella Cox

Managing Director, DDCAP
Stella Cox
Stella Cox
Managing Director, DDCAP

Stella Cox CBE has worked within the Islamic financial marketplace for more than 30 years. Since 1998, she has been the managing director of DDCAP Group, which is a leading provider of capital market intermediary services and related technology solutions to Islamic financial market institutions.

Since 2015, Stella has been a member of the Board of Trustees of the RFI Foundation, which acts as a catalyst to link together responsible and Islamic finance, and she represents DDCAP within the Islamic finance and the UN Sustainable Development Goals Taskforce, the inaugural meeting of which took place in July 2020, convened by the Islamic Finance Council UK in partnership with the UK government. Since 2014, Stella has been the chair of the Islamic Finance Market Advisory Group formed by TheCityUK and she represents DDCAP on the UK Islamic Fintech Panel.

In June 2016, Stella was appointed a Commander of the Order of the British Empire (CBE). Stella was honored for her services to the economy and, specifically, as a champion for the development of Islamic finance in the UK. Stella was ranked No 1 among the ‘100 Most Influential Women in Islamic Finance’ in the ISFIRE ‘WOMANi 2018′ Report and was appointed patron-in-chief of WOMANi in April 2019. In July 2019, Stella became a Freeman of the City of London.

Dr Usman Chaudry

Dr Usman Chaudry

Chief Risk Officer and Executive Director of the Board, Gatehouse Bank
Dr Usman Chaudry
Dr Usman Chaudry
Chief Risk Officer and Executive Director of the Board, Gatehouse Bank

Dr Usman Chaudry joined Gatehouse Bank as the chief risk officer in January 2018. Prior to this, he was the risk director at Tandem, a fintech bank, responsible for risk management and compliance; and part of the management team that completed the acquisition of Harrods Bank. Prior to Tandem, Dr Usman held the role of global head of risk governance and policy at Standard Chartered, responsible for risk oversight across some 80 countries. Prior to this, he was at KPMG advising UK banks on financial services risk and regulatory matters, including financial services corporate transactions; and at Barclays and GE Capital helping to set up greenfield operations and risk management in retail and commercial businesses across Europe, the Middle East and Africa. He started his career at FICO, where he used advanced analytics and artificial intelligence to help banks drive better decisions. Usman holds a PhD in computational chemistry from the University of Manchester.

Vineeta Tan

Vineeta Tan

Managing Editor, Islamic Finance news
Vineeta Tan
Vineeta Tan
Managing Editor, Islamic Finance news

Vineeta Tan is a global Islamic finance journalist with over five years of experience in the journalism and publishing industry working independently and leading a team. She joined REDmoney in 2013 and is responsible for the editorial direction and content of Islamic Finance news (IFN). Vineeta authors the IFN daily cover stories, produces reports, research and analytical pieces as well as interviews senior industry players and regulators. In addition to her role as the editor of IFN, Vineeta also manages, produces and oversees all editorial content of REDmoney’s sister publications: IFN Education and MY Islamic Finance.

Trained in journalism and sociology, Vineeta holds an Islamic Finance Qualification awarded by the Chartered Institute for Securities & Investments in the UK. Prior to joining REDmoney, Vineeta was attached to a research company in the US and was a freelance journalist.

Youness Abidou

Youness Abidou

Founder and CEO, Nester
Youness Abidou
Youness Abidou
Founder and CEO, Nester

Youness Abidou is a qualified accountant who trained with EY in the Real Estate and Hospitality Division and has maintained his focus on real estate throughout his career. Youness has nearly two decades of experience in real estate and has worked on projects at all levels, from portfolios of several billion to structuring transactions for a first-time real estate investor. A highlight of Youness’s career was when he set up an advisory business assisting a number of ex-clients, helping them to navigate their way through the credit crunch. Later, Youness joined Gatehouse Bank and then Bank ABC, where his knowledge of Islamic finance and his experience in real estate finally aligned.

Zalina Shamsudin

Zalina Shamsudin

Head of International Programmes, Climate Bonds Initiative
Zalina Shamsudin
Zalina Shamsudin
Head of International Programmes, Climate Bonds Initiative

With a career that spans more than 28 years, predominantly in corporate advisory, and with work experience in six countries throughout Asia, the Middle East and the Indian subcontinent, Zalina has been a strong advocate for sustainable finance in the last eight years. Zalina’s primary area of strength is market development through positioning and creating opportunities for new markets and product innovation. In her last role with the Securities Commission Malaysia, she was pivotal in the creation of capacity development programs that looked at building the financial sector’s technical expertise and experience in sustainable finance. A major focus was also to support the industry and the regulator’s effort to build recognition of Islamic finance as responsible finance. Zalina holds an MBA in finance from CASS Business School of the UK and is a fellow of the Association of Certified Chartered Accountants.

Advisory Board

Craig Reeves

Craig Reeves

Director and Founder, Prestige Funds
Craig Reeves
Craig Reeves
Director and Founder, Prestige Funds

Craig Reeves is the founder of Prestige Group established in 2007 which consists of three main businesses focusing on fund management, small business lending and renewable energy infrastructure. He has raised more than US$2.5 billion in fund assets and US$700 million in wholesale debt. Craig has over 27 years of experience in financial services as a fund manager, trader and investor of alternative investments, hedge funds, capital markets and real estate. Craig graduated from Huddersfield University with a business degree and from University of Greenwich with a finance diploma. He also studied at the New York Institute of Finance.

Passionate about enabling investors to make uncorrelated, positive returns and a social impact through renewable energy investment and small business finance, Prestige’s culture of innovation allows it to offer high-quality alternative investment products that make it the true pioneer in its chosen markets.

Faizal Karbani

Faizal Karbani

Founder and CEO, Simply Ethical
Faizal Karbani
Faizal Karbani
Founder and CEO, Simply Ethical

Faizal Karbani is a qualified chartered accountant and spent the first decade of his career working with PwC and GlaxoSmithKline. In 2005, he moved into the Islamic finance industry, specializing in providing Shariah compliant independent financial advice to individuals and corporations. In 2009, he founded Simply Ethical with a vision to provide authentic and best-in-class ethical and Shariah compliant investment solutions and other financial products in the market.

Faizal has been at the forefront of a number of innovations in the Islamic finance industry over the last decade. These include a Shariah compliant EIS fund investing into renewable energy, a Shariah compliant home insurance product, the first Shariah compliant robo-advsisory service in the UK, the provision of a Shariah compliant discretionary investment management service providing bespoke portfolios that invest in direct equities and a Shariah compliant SEIS Science and Innovation Fund.

Faizal is also an approved trainer for the Islamic Finance Qualification and was the author of ‘Mastering Islamic Finance’ published in 2015. He is committed to the development of the Islamic finance industry and is a regular speaker on Islamic finance-related topics.

Mohammed Amin

Mohammed Amin

Mohammed Amin
Mohammed Amin
Mohammed Amin
Mohammed Amin
Richard Thomas

Richard Thomas

Managing Director, Sustainable Economy
Richard Thomas
Richard Thomas
Managing Director, Sustainable Economy

Richard G Thomas OBE, FCSI is Managing Director of Sustainable Economy Ltd (SEL), his own think tank and consultancy which is informed by his experiences in Islamic finance and economics. In his most recent research, he has been looking at the impact of applied principles for Gharar and Jehala on sustainable business planning, risk management and the role of AI and Big Data related thereto.

Richard has 40+ years of experience working in direct Sharia compliant banking and investment management and is currently involved in work related to Shariah compliant Infrastructure investment. Since the early 80’s he has worked primarily in London and in Kuala Lumpur. Prior to SEL he has been Chairman, and CEO of UK regulated award winning Islamic bank Gatehouse Bank PLC, In 2010 Richard received his Order of the British Empire (OBE) an honour bestowed by Her Majesty Queen Elizabeth II, in recognition his contribution to the UK Islamic Financial Services industry.

In 2017 he is accorded Freedom of the City of London. Since the 1980’s Richard has been associated with developing and founding new regulated Banking and Investment business operations in a number of disciplines, particularly in pioneering early liquidity management instruments, asset backed Sukuk (eg Al Safeena and Al Hamilla sukuk) Shariah compliant asset finance and direct equity investments, Shariah compliant home financing, Institutional and private client funds and other Asset Management activities. Working closely over many years with inspirational scholars such as Datuk Dr Mohd Daud Bakar and Sheihk Nizam Yaqubi, Richard has been instrumental in integrating Shariah compliant banking and asset management products into the UK risk and regulatory framework.

His personal interest in professionalism in Banking and Ethics in Financial Services, Corporate Governance and Risk Frameworks is also demonstrated by his previous Board membership of the Financial Services Professional Board (www.fspb.com) Malaysia. His principal employers prior to Gatehouse Bank plc have been, Saudi International Bank, United Bank of Kuwait, Arab Banking Corporation and Brown Shipley Merchant Bank. Richard is a Fellow of the Chartered Institute for Securities & Investment (CISI) He has been an INCIEF Governing Council Member, a Board Member of the Financial Services Professional Board (Malaysia).

He was previously a member of HMG Islamic Finance Task Force and UK Government Sukuk Task Force and the Chairman of the working groups UK Islamic Finance Secretariat and UKTI Special Representative for Kuwait. He has also been UKTI Financial Services Sector Advisory Board, Chairman, Islamic Finance Sub Group, HMRC Tax Advisory Group member (IFS), HM Treasury Standardisation committee. British Expertise – Advisory Council Member

Dr Scott Levy

Dr Scott Levy

Founder, Al Waseelah
Dr Scott Levy
Dr Scott Levy
Founder, Al Waseelah

Dr Scott Levy is the founder of Al Waseelah, an award-winning Shariah compliant Sukuk issuance platform which includes structuring, arranging, originating and listing Sukuk. Dr Scott founded Al Waseelah in 2017 as a tech-savvy, cost-efficient way to creating Shariah compliant instruments; democratization for both issuers and investors.

Al Waseelah is dedicated to the global growth of Islamic capital markets through its comprehensive runway for international capital-raising, and its active participation in global dialogue through Islamic Finance news and the International Islamic Financial Market. Al Waseelah is at the forefront of ESG/SDG integration to Sukuk, being one of the Islamic finance institutions to commit to the Principles for Responsible Investment, and technological innovation, using the power of blockchain to bring transparency and accountability to each transaction. Al Waseelah has executed transactions across asset classes and currencies including green Sukuk Wakalah, corporate Sukuk, Mudarabah private equity liquidity structures and multicurrency liquidity management products.

With boots on the ground in London, Tallinn, Miami, Monaco, Dubai and Singapore, Dr Scott leads Al Waseelah’s global offering underpinned by a talented, dynamic, global, multicultural and multilingual team. Dr Scott is a liveryman of the Worshipful Company of International Bankers and the Worshipful Company of Musicians, a member of Lincoln’s Inn and a senior member of Wolfson College, Cambridge.

Umer Suleman

Umer Suleman

Group Head of Risk, Wahed
Umer Suleman
Umer Suleman
Group Head of Risk, Wahed

Umer Suleman started his career as an auditor at EY before moving to HSBC where he held a variety of roles, among which was as the head of risk for GLCM Digital and head of business risk for the Middle East.

Additionally, Umer has been actively involved in Islamic finance for the last decade, working with some of the most notable UK scholars on Shariah structuring and product validation. Umer currently is the group head of risk for Wahed globally where he brings together his risk and Islamic finance expertise.

Umer also sits on the board of the Islamic Finance Council UK or UKIFC, is an advisor for the finance arm of the Islamic Council of Europe and is the co-founder of the National Waqf Fund. Umer has also been an advisor for a number of other ethical and Islamic fintech start-ups.

Umer was recognized for his work in 2016 as “one to watch” in the city of London by Brummel magazine for not only his work in Islamic finance but also his role as a member of the Steerco for the Cube Network, an umbrella organization for professional corporate Muslim networks.

Wayne Evans

Wayne Evans

Senior Advisor International Strategy, TheCityUK
Wayne Evans
Wayne Evans
Senior Advisor International Strategy, TheCityUK

Forum Partners

LEAD PARTNER

Capital Markets Malaysia

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As part of its mandate to develop the capital market, the Securities Commission Malaysia (SC) set up the Capital Markets Promotion Council in 2012 to strengthen its internationalization agenda for Malaysia’s capital market. In 2014, the SC launched Capital Markets Malaysia (CMM) to spearhead both the local and international positioning and profiling of the Malaysian capital market with its wide range of conventional and Islamic products, supported by a strong governance infrastructure. CMM profiles the competitiveness and attractiveness of the various segments of the capital market via a comprehensive and integrated approach to increase international participation and enhance opportunities for Malaysian capital market intermediaries.

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MULTILATERAL STRATEGIC PARTNERS

The Islamic Corporation for the Development of the Private Sector (ICD)

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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

DDCAP Group

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Founded in 1998 and headquartered in London, with an office in Dubai and a presence in both Saudi Arabia and Malaysia, DDCAP is a leading provider of asset facilitation services and financial technology and system solutions across a diverse range of Shariah compliant products, asset classes and instruments in both the primary and secondary markets. DDCAP’s wholly-owned subsidiaries include DD&Co and DDGI. DDCAP has an extensive track record within the Islamic finance industry, employing over 35 professionals with broad and complementary skill sets drawn from diverse financial industry backgrounds, focused principally on providing service to Islamic financial market participants around the world. DDCAP has its own Shariah supervisory board comprising esteemed Shariah scholars from Saudi Arabia, Malaysia and Kuwait. DDCAP’s multi-award-winning Shariah compliant ETHOS Asset Facilitation Platform is a bespoke, real-time trade and post-trade services platform providing 24-hour coverage, enabling clients worldwide to purchase from a diverse asset inventory, including commodities, via a secure, web-based portal.

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DLA Piper

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DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning them to help clients with their legal needs around the world.

They are the only international law firm with an on-the-ground presence in all six GCC countries, with nine offices across the Middle East, 29 partners and over 100 lawyers. DLA Piper advise on the full spectrum of legal services through seven dedicated practice groups: corporate; employment; finance and projects; intellectual property and technology; litigation, arbitration and investigations; real estate; and restructuring.

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Eiger

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Eiger Trading Advisors (Eiger) is a UK-based asset-trading and technology company founded in 2008, which specializes as an intermediary in Islamic financial products.

As a leading intermediary and technology provider within the commodity Murabahah space, Eiger has the unique capabilities to deliver Shariah compliant commodity trading solutions through the Eiger Trading Platform (ETP), a web-based trading system, that we tailor to our bank clients’ exact operational requirements.

The ETP automates the structuring and execution of Islamic banking products for wholesale and retail commodity-backed transactions, including two new enhanced modules:

  • ETP Retail – A 24/7 STP platform designed to automate the end-to-end commodity Murabahah transactions underpinning retail banking products such as deposits, loans, CASA, credit cards
  • ETP Client Reach – A bespoke middle and back office module designed to streamline Islamic treasury and derivative transactions, including execution and documentation with our clients’ clients.

Eiger is authorized and regulated by the UK’s Financial Conduct Authority, and is both a member of the London Metal Exchange and an associate of the London Platinum and Palladium Market.

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Gatehouse Bank

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Gatehouse Bank is a Shariah compliant bank headquartered in London and a subsidiary of Gatehouse Financial Group. It is authorized by the Prudential Regulation Authority (PRA) and regulated by the PRA and the Financial Conduct Authority. Founded in 2007, the bank offers award-winning savings products and finance for UK commercial and residential real estate, in addition to sourcing and advising on UK real estate investments with a focus on the build-to-rent sector.

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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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Moody’s Investors Service

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Moody’s is a global risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions and fair access to information open the door to shared progress.

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Norton Rose Fulbright

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Norton Rose Fulbright is a global law firm. Our Islamic finance lawyers have long-standing experience in delivering pioneering legal advice on Islamic finance transactions for Islamic financial institutions, conventional banks and corporates worldwide.

With more than 30 years of experience in Islamic finance law, our lawyers have a wealth of knowledge across a range of Shariah compliant structures, including market-leading experience in Sukuk transactions, Murabahah, Istisnah, Ijarah and Musharakah financings and Takaful deals.

As well as having significant transactional experience, our lawyers regularly advise clients on Shariah governance matters, including advising the government of Dubai on the creation of the first standard code of practice for Islamic finance law, marking the first Islamic law code of practice to be standardized in a legislative framework.

Based in the world’s economic hubs and key Islamic finance centers across the Middle East, Europe, the US, Canada, Latin America, Asia, Australia and Africa, our lawyers provide legal advice to governments worldwide on legislation concerning Islamic finance products.

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S&P Global Ratings

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S&P Global Ratings is the world’s leading provider of independent credit ratings. Our ratings are essential to driving growth, providing transparency and helping educate market participants so they can make decisions with confidence. We have more than one million credit ratings outstanding on government, corporate, financial sector and structured finance entities and securities. We offer an independent view of the market built on a unique combination of broad perspective and local insight. We provide our opinions and research about relative credit risk; market participants gain independent information to help support the growth of transparent, liquid debt markets worldwide.

S&P Global Ratings is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spglobal.com/ratings.

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Trowers & Hamlins

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Trowers & Hamlins is an international law firm with over 150 partners and more than 900 people located across the UK, the Middle East and the Far East providing a full-service integrated offering to clients with local knowledge and expertise at its core.

Our distinguishing feature is that with 25 years of experience in the UK and the Middle East, we have a depth of knowledge of the Islamic finance industry that covers the entire spectrum from regulatory and corporate governance to capital market issuances and real estate investment. Our international team of multidisciplinary specialists will guide you on structuring your Shariah compliant activities to help you achieve a successful outcome.

With our growing office in Kuala Lumpur, our team now advises on Islamic investments, financings and products across the UK, Europe, the Middle East and Southeast Asia.

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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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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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In The News

IFN Monthly Review: December — Wrapping up 2022

The global Islamic finance and banking industry closed 2022 on a high note, with notable Sukuk issuances from Nigeria, Tanzania...

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The UK and Ireland: Leading the western world in Islamic finance

The UK has been a leading center for Islamic finance in the western world for several decades, but the drawn-out Brexit discussions…

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Luxembourg: Solid reputation for Islamic funds

With its social and political stability, meticulous business culture and supportive regulatory landscape, Luxembourg is well-positioned…

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France: At a standstill

Brexit is expected to usher in various opportunities in Islamic finance to other European countries including France, where 5.72 million Muslims represent 8.8% of the population…

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About REDmoney Events

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, panellists 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.

The annual IFN Asia Forum has been the biggest event in the industry since its inception in 2006, attracting over 1,000 delegates annually. An annual line-up of Forums are also conducted across emerging markets and key jurisdictions. Included under REDmoney Events are the IFN Awards Ceremonies, which take place annually in Dubai and Kuala Lumpur, and attract more than 800 industry leaders.

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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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  • Stay up to date on the latest in Islamic finance! From new digital Takaful players in Malaysia to the first Sukuk l… https://t.co/wX9p6k3HoE7 days ago

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Wishing you a prosperous and joyful Chinese New Ye Wishing you a prosperous and joyful Chinese New Year from all of us at IFN! Gong Xi Fa Cai!

#ChineseNewYear #GongxiFacai #IFN
Stay up to date on the latest in Islamic finance! Stay up to date on the latest in Islamic finance! From new digital Takaful players in Malaysia to the first Sukuk listing on the Dar es Salaam Stock Exchange in Tanzania, there's always something happening in the industry.

https://lnkd.in/gypg_ThG

#IslamicFinance #Finance #Sukuk #Takaful #Insurtech
Kuwait Finance House partners with UNDP to further Kuwait Finance House partners with UNDP to further embed sustainability in its investment portfolio through SDG impact investment and green Sukuk.

https://lnkd.in/gCFkEmhH

#Sustainability #SDGs #GreenFinance
Congratulations to the IFN Deals of the Year 2022 Congratulations to the IFN Deals of the Year 2022 winners. For the full 30-page cover story, head to:
https://lnkd.in/gamWTmr

Yinson, AmBank Group, Maybank, Maybank Investment Banking Group, Zul Rafique & Partners

#REDMoney #IFN #DealsoftheYear #Yinson #Ambank #Maybank #ZulRafique
Congratulations to the IFN Deals of the Year 2022 Congratulations to the IFN Deals of the Year 2022 winners. For the full 30-page cover story, head to:
https://lnkd.in/gamWTmr

Cor3 Capital, Merchants Bank of Indiana, Ice Miller LLP, Joe Bradford

#REDMoney #IFN #DealsoftheYear #Cor3 #MerchantsBank #IceMiller
Congratulations to the IFN Deals of the Year 2022 Congratulations to the IFN Deals of the Year 2022 winners. For the full 30-page cover story, head to:
https://lnkd.in/gamWTmr

Towell Infrastructure Projects Company, Bank Muscat, ahlibank, Oman Arab Bank, Alizz Islamic Bank, Bank Nizwa, Al Busaidy Mansoor Jamal & Co, Said Al-Shahry & Partners (SASLO)

#REDMoney #IFN #DealsoftheYear #Towell #BankMuscat #Ahlibank #OmanArabBank #AlizzBank #BankNizwa #AMJ #SASLO
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