5th September 2022, Mansion House, London
#IFNUK2022
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WE ARE GOING LIVE IN
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About The Forum
The 14th IFN UK Forum, the Islamic finance industry’s longest running and leading European event, will again be 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 will continue 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.
An Introduction to 2022
2022 – READY TO REBOOT
The past two years have been difficult for many. For the first time in almost a century, the world ground to a halt, meaning minimal physical interaction, and a shuddering halt to B2B events as we knew them.
At REDmoney, we went online, building a new platform allowing us to deliver virtual events to our readers and followers around the world. And, although OnAir events don’t allow for face-to-face meetings and that personal interaction we all enjoy, there’s very much a place for them moving forwards, and this is recognized through the IFN OnAir Roadshow visiting a series of key markets in 2022.
However, with the opening of core markets and people returning to offices, we’re delighted to announce our 2022 physical Forum line-up too.
And, with our exclusive OnAir platform and the REDmoney.live portal, all physical forums will also be aired live to a global audience. This means larger audiences and greater participation, which is great news for all involved.
We begin with our coveted Awards Ceremonies in Dubai and Kuala Lumpur, serving their respective markets, followed by events in Nigeria, United Arab Emirates, United Kingdom, Malaysia, Indonesia, Oman, and Saudi Arabia.
#IFNFORUMS2022
Forum Agenda
9.05 – 9.15
Welcome Address
9.15 – 9.25
Keynote Address
Economic Secretary to the Treasury and City Minister, John Glen MP
9.25 – 10.45
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 macro-economic 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?
Panelists:Mohammed Paracha, Head of Middle East, Norton Rose Fulbright
Richard Thomas, Managing Director, Sustainable Economy
10.45 – 11.15
Coffee & Networking
11.15 – 12.15
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 digitalisation allow us to better address issues such as product authenticity and the minimisation of uncertainty? We seek the views of an expert panel.
Panelists:Abdulkader Thomas, Group CEO, SHAPE™ Knowledge Services
Ayman Amin Sejiny, CEO, Islamic Corporation for the Development of the Private Sector (ICD)
Dr Farrukh Habib, Co-Founder, Alif Technologies
12.15 – 13.30
Building Momentum: Successfully Positioning Islamic ESG and Sustainable Finance and Investment in the UK
How do policymakers balance the fulfilment 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 labelled 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 the 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?
Panelists:Craig Reeves, Director and Founder, Prestige Funds
Zalina Shamsudin, Head of International Programmes, Climate Bonds Initiative
13.30 – 14.15
Luncheon
14.15 – 15.30
Islamic Capital Markets: Fit for Purpose
What represents innovation in the contemporary Islamic capital market: pioneering structures, sourcing underliers, and 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 the 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
Robert Ward, Deputy Director, International Financial Services, HM Treasury
15.30 – 16.45
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 favour? 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
Forum Keynote
John Glen MP
Economic Secretary to the Treasury and City MinisterJohn Glen was appointed the economic secretary to the Treasury and city minister on the 9th January 2018. He was the parliamentary undersecretary of state for the Department for Culture, Media and Sport from the 14th June 2017 to the 8th January 2018. He was the parliamentary private secretary to Philip Hammond from July 2016 until June 2017.
John was first elected to parliament as the member of parliament for Salisbury in 2010. He previously worked for Eric Pickles and Sajid Javid as a parliamentary private secretary.
Forum Speakers
Abdulkader Thomas
Group CEO, SHAPE™ Knowledge Services
Ahsan Ali
Managing Director and Head, Islamic Origination, Standard Chartered SaadiqAhsan Ali is responsible for the Islamic corporate, commercial and institutional banking business globally at Standard Chartered Saadiq, the bank’s Islamic banking arm. In this role, he oversees the delivery of Islamic banking services to the bank’s clients across multiple geographies and products, including financial markets, corporate finance and transaction banking.
Since joining Standard Chartered Bank in March 2004, Ahsan has played a key role in building the bank’s Islamic business from inception and has led several award-winning and industry-defining deals. He was awarded the prestigious ‘Islamic Banker of the Year’ award by Asset magazine in 2015.
Ahsan has 29 years of experience in the financial services industry of which the last 18 years have been in Islamic banking. Prior to joining Standard Chartered, he worked at Citi.
Ahsan holds an MBA from the Indian Institute of Management, Calcutta and a degree in mechanical engineering from the Indian Institute of Technology, Delhi.
Ayman Amin Sejiny
CEO, Islamic Corporation for the Development of the Private Sector (ICD)Ayman Amin Sejiny is CEO of the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the IsDB Group. Ayman is a highly accomplished financial industry leader. He served as CEO of Ibdar Bank, Bank Alkhair, Barclays Capital Saudi Arabia and as the chairman of Open-Silicon and Bahrain Financing Company Group as well as a board member of Unicorn Bahrain. Ayman has in-depth knowledge and more than 24 years of experience in investment and corporate banking in the local, regional and international markets. He held a senior role in a number of regional and international financial institutions, including Citibank and the ABN AMRO affiliate in Saudi Arabia (Saudi American Bank ‘SAMBA’ and Saudi Hollandi Bank). Ayman is a board and C-Level performer with vast experience in innovating financial processes and products. He holds a Bachelor of Arts degree in finance from Eastern Michigan University in the US.
Craig Reeves
Director and Founder, Prestige Funds
Dr Farrukh Habib
Co-Founder, Alif TechnologiesDr Farrukh Habib is the co-founder of Alif Technologies (Dubai) and Shariah Experts (London). He is an expert in Shariah (Islamic law), finance and economics. He is an advisor, consultant and trainer by profession with a strong educational background. He has been involved in the Islamic fintech and Halal digital economy, focusing on crowdfunding, micro investments, microfinance, blockchain and smart contracts, among others.
Dr Farrukh is also researcher at the International Shari’ah Research Academy for Islamic Finance (ISRA), Kuala Lumpur, and a co-editor of the ISRA Journal of Islamic Finance (indexed by ESCI and SCOPUS). He has been doing research in capital markets, Sukuk, banking and social and ethical finance and is a prolific speaker at several international dialogues, conferences and seminars. He is a member of the OIC Working Group for Financial Inclusion and Economic Outlook, and a frequent speaker for the ICCIA which is an affiliated institution of the OIC, representing 57 member countries.
Dr Farrukh holds a PhD in Islamic finance from INCEIF, Kuala Lumpur, Malaysia and a Master of Science degree in banking and finance from Queen Mary University of London in the UK.
Mike Tirman
Partner, Ice MillerMike 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.
Mohammed Paracha
Head of Middle East, Norton Rose FulbrightMohammed 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
CEO, REDmoney ConsultingDr 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 and is the chief examiner for one of the qualifications offered by the London Institute of Banking & Finance.
Nitish Bhojnagarwala
Vice President – Senior Credit Officer, Financial Institutions Group, Moody's Investors ServiceNitish 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
Managing Director, Sustainable EconomyRichard 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’she 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 principle 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
Robert Ward
Deputy Director, International Financial Services, HM Treasury
Zalina Shamsudin
Head of International Programmes, Climate Bonds InitiativeAdvisory Board
Faizal Karbani
Founder and CEO, Simply EthicalRichard Thomas
Managing Director, Sustainable EconomyRichard 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’she 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 principle 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
Senior Advisor International Strategy, TheCityUK
Wayne Evans
Dr Scott Levy
CEO, Bedford Row CapitalDr Scott Levy is CEO of Bedford Row Capital (BRC), a non-bank originator giving businesses a fast, effective and cost-efficient way to access critical finance through debt capital markets. Dr Scott founded the firm four and a half years ago, bringing together a management team with decades of experience in structured finance that has since executed more than 70 transactions in Sukuk, liquidity management, high-yield and green bonds — fulfilling businesses’ diverse financing needs and giving investors access to yield.
Based between London and Estonia, Dr Scott has over 25 years in financial services and 18 years in Islamic finance, structuring, capital markets infrastructure, asset-backed securities, securitization, debt capital markets and asset management. He leads BRC’s global offering underpinned by integrity, innovation and insight across the firm’s offices in London, Tallinn, Zurich, Singapore and Dubai.
Umer Suleman
Group Head of Risk, WahedUmer started his career as an auditor at EY then moving to HSBC where he held a variety of roles, amongst which was 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 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 UKIFC, is an advisor for the finance arm of the Islamic Council of Europe and is 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 recognised 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 organisation for professional corporate Muslim Networks.
Forum Partners
LEAD PARTNER
Capital Markets Malaysia
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.
MULTILATERAL STRATEGIC PARTNERS
The Islamic Corporation for the Development of the Private Sector (ICD)
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
The Islamic Corporation for The Insurance Of Investment And Export Credit (ICIEC)
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.
International Islamic Trade Finance Corporation
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
IsDB Group Business Forum (THIQAH)
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)
PARTNERS
DDCAP Group
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.
Eiger
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.
Gatehouse Bank
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.
IdealRatings
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.
Moody’s Investors Service
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.
Norton Rose Fulbright
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.
S&P Global Ratings
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.
CONSULTANCY PARTNER
Redmoney Consulting
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.
In The News
IFN Monthly Review: May — Exciting new entrants and prospects
The month following Ramadan showed promising growth and developments for Islamic finance. Several conventional lenders and new entities made their...
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…
Luxembourg: Solid reputation for Islamic funds
With its social and political stability, meticulous business culture and supportive regulatory landscape, Luxembourg is well-positioned…
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…
The Previous IFN UK Forum
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About REDmoney Events
REDmoney events designs, organizes and hosts industry-leading conferences, forums, roadshows, seminars and dialogues focusing on the Islamic financial markets across a global, regional and national level. Leveraging an exceptional network of the industry’s elite and supported by the expertise of the REDmoney publishing and seminars divisions, REDmoney Events are able to provide access to a unique array of influential speakers, 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.
For any inquiries contact us
Our team will be glad to answer any questions you may have about this event.
