Abdulkadir Abbas
Deputy Director, Securities and Exchange Commission
IFN AFRICAN ROADSHOW 2019
18th June 2019, Lagos
20th June 2019, InterContinental Nairobi
24th June 2019, Cape Town
18th June 2019, Lagos
20th June 2019, InterContinental Nairobi
24th June 2019, Cape Town
Six Days 18th - 24th June 2019
Three Countries Nigeria, Kenya and South Africa
ONE CONTINENT Africa
Attendees 300
IFN African Roadshow 2019
Africa was the first continent into which Islam spread from SE Asia and is now home to almost one-third of the world’s Muslim population. Although interest in Islamic finance continues to spread across this diverse yet complex continent, it has remained a difficult market to penetrate. With this in mind, IFN will organize the inaugural IFN African Roadshow taking in three of the most likely markets to see Shariah compliant financing flourish in the coming years.
IFN NIGERIA FORUM 2019
With its Sukuk aspirations finally realized in 2017 and its only Islamic bank receiving an international operating license, Nigeria has a lot to offer to the global Islamic finance industry. The African nation has been steadily giving stiff competition to its neighbors like South Africa, Uganda and Djibouti on the Shariah front and with its debut sovereign Sukuk, Nigeria sealed its place at the top of the regional Islamic finance league.
On the 18th June 2019, join IFN as it convenes industry experts and decision-makers at its inaugural IFN Nigeria Forum to discuss the challenges and opportunities in the Nigerian Islamic finance market.
Date 18th June 2019
Venue Eko Hotels & Suites, Lagos
09:00
Welcome Address
Jude Chiemeka, Divisional Head, Trading Business, Nigeria Stock Exchange
09:15
Keynote Address
Harnessing the Islamic Finance Sector for Infrastructure Development and Economic Growth:
Abdulkadir Abbas, Deputy Director, Securities and Exchange Commission
09:35
Islamic Finance, Investment, Banking and Takaful in Nigeria
Nigeria is the second- largest OIC economy; nevertheless, the sustained low oil price has impacted its economy. With a growing Islamic finance sector and the stability of the gGovernment, there is immense potential for sustainable growth. Through a respected panel, we take a look at developments in regulation, banking, capital markets, investment management and Takaful and theits impact onto the Nigerian economy. In addition, we assess the success of its debut sovereign Sukuk and the opportunities for Islamic finance in the region.
Moderator:Ahsan Ali, Head of Islamic Origination, Standard Chartered Bank
Panelists:Abdulkadir Abbas, Deputy Director, Securities and Exchange Commission
Jude Chiemeka, Divisional Head, Trading Business, Nigerian Stock Exchange
Patience Oniha, Director General, Debt Management Office
Umara Farouk Amina, Head, Research & Strategy Management, National Pension Commission
10:45
Interview
Interviewee: Patience Oniha, Director General, Debt Management Office
Interviewer: Marc Roussot, Senior Journalist and Multimedia Editor, Islamic Finance News
11:00
Coffee & Networking
11:30
Corporate Financing and Capital Raising in Nigeria: What does Islamic Finance offer?
We ask leading capital market professionals to discuss the prospects for domestic and regional capital and Sukuk markets in the coming months. What structures and asset classes will find favor with issuers and investors? We examine distribution, ratings and credit enhancement measures and identify other factors facing issuers in the Nigerian capital market. What challenges still exist within domestic taxation and regulatory frameworks and how can these be addressed? Finally, what do Sukuk offer West African sovereign, multilateral and supranational issuers?
Moderator:Adeola Sunmola, Partner, Udo Udoma & Belo Osagie
Panelists:Hajara Adeola, Managing Director/CEO, Lotus Capital
Oluseun Olatidoye, Head, Debt Capital Markets, FBNQuest Merchant Bank
Shuaib Audu, Executive Director, Stanbic IBTC Asset Management
Vivien Shobo, Managing Director, Agusto & Co
12:30
Recent Developments in International Islamic Financing and Sukuk Markets
Ahsan Ali, Head of Islamic Origination, Standard Chartered Bank
12:45
Funding Infrastructure and Social Welfare Requirements in West Africa
We discuss public–private partnerships, financing structures as well as opportunities in active sectors.
Moderator:Jubril Salaudeen, COO, Citiserve
Panelists:Aig Imoukhuede, Head, Capital Markets Coronation Merchant Bank
Bashir Sharif Isyaku, Head, North-west Regional Tax Audit, Federal Inland Revenue Service, Kano
Ummahani Ahmad Amin, Principal Attorney, The Metropolitan Law Firm
13:30
Lunch & Networking
Adeola Sunmola
Partner, Udo Udoma & Belo Osagie
Ahsan Ali
Head of Islamic Origination, Standard Chartered Bank
Aig Imoukhuede
Head, Capital Markets Coronation Merchant Bank
Bashir Sharif Isyaku
Head, North-west Regional Tax Audit, Federal Inland Revenue Service, Kano
Hajara Adeola
Managing Director/CEO, Lotus Capital
Jubril Salaudeen
COO, Citiserve
Jude Chiemeka
Divisional Head, Trading Business, Nigerian Stock Exchange
Marc Roussot
Senior Journalist and Multimedia Editor, Islamic Finance News
Oluseun Olatidoye
Head, Debt Capital Markets, FBNQuest Merchant Bank
Patience Oniha
Director General, Debt Management Office
Shuaib Audu
Executive Director, Stanbic IBTC Asset Management
Umara Farouk Amina
Head, Research & Strategy Management, National Pension Commission
Ummahani Ahmad Amin
Principal Attorney, The Metropolitan Law Firm
Vivien Shobo
Managing Director, Agusto & Co
Recent Developments in International Islamic Financing and Sukuk Markets
Ahsan Ali, Head of Islamic Origination, Standard Chartered Bank
Hajara Adeola
Managing Director/CEO, Lotus Capital
IN PARTNERSHIP WITH
The Nigerian Stock Exchange(NSE)
About The Nigerian Stock Exchange
The Nigerian Stock Exchange (NSE) serves the largest economy in Africa and is championing the development of Africa’s financial markets. The NSE, a registered company limited by guarantee, was founded in 1960 and it is licensed under the Investments and Securities Act and regulated by the Securities and Exchange Commission of Nigeria. The exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services and more.
The NSE is committed to adopting the highest levels of international standards. To support this commitment, the NSE belongs to a number of international and regional organizations that promote the development and integration of global best practices across its operations. It is a member of the International Organization of Securities Commissions, the World Federation of Exchanges, the Sustainable Stock Exchanges Initiative, the Software & Information Industry Association’s Financial Information Services Division and the Intermarket Surveillance Group. The exchange is a founding member and executive committee member of the African Securities Exchanges Association.
The NSE continues to evolve in order to meet the needs of its valued customers and to achieve the highest level of competitiveness. It is an open, professional and vibrant exchange, connecting Nigeria, Africa and the world.
LEAD PARTNER
Standard Chartered Bank
Standard Chartered
We are a leading international banking group, with a presence in 60 of the world’s most dynamic markets, and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise: ‘Here for good’.
Standard Chartered is listed on the London and Hong Kong stock exchanges as well as the Bombay and National stock exchanges in India.
For more stories and expert opinions, please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.
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
PARTNERS
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.
Emirates NBD Capital
Emirates NBD, the leading banking group in the region, was formed on the 19th June 1963, when the late Sheikh Rashid Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first national bank established in Dubai and the UAE. With the blessings of Sheikh Mohammed Rashid Al Maktoum, the vice-president and prime minister of the UAE and the ruler of Dubai, the NBD merged with Emirates Bank International (EBI) on the 6th March 2007 to form Emirates NBD, the largest banking group in the region by assets.
On the 16th October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market. The merger between EBI and the NBD to create Emirates NBD became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth-largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.
In 2013, Emirates NBD celebrated its 50th anniversary, marking the group’s outstanding achievements while highlighting the bank’s solid historical and financial foundations as well as its promising future.
As at the 31st December 2018, total assets were AED500.3 billion (US$136.19 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90% of all financial transactions and requests conducted outside of its branches. The bank was declared the ‘Most Innovative Financial Services Organization of the Year’ at the 2017 BAI Global Innovation Awards. The bank currently has 230 branches and 1,069 ATMs and SDMs [smart deposit machines] in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand.
The group has operations in the UAE, the Kingdom of Saudi Arabia, Egypt, India, Singapore, the UK and representative offices in China and Indonesia. On the 8th November 2017, it opened operations in Mumbai, India. The Mumbai branch marks Emirates NBD’s fifth international branch outside of its UAE network.
The group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of people with disabilities under its #TogetherLimitless platform. The Emirates NBD Group is an official premier partner of Expo 2020 Dubai.
Preservation of the UAE culture and heritage is at the heart of the group and in addition to supporting various initiatives that aim to preserve the UAE culture, Emirates NBD launched in 2003 the first pearl museum in the region containing the largest collection of natural pearls in the GCC. The Emirates NBD Pearl Museum is a gift from the late Sultan Al Owais, the founder of the NBD, to the people of the UAE to remind them of their culture and heritage before the discovery of oil.
Currently, more than 9,000 people, representing 70 nationalities, are employed by Emirates NBD, making it one of the largest and most culturally diversified employers in the UAE. As a national banking champion, Emirates NBD is an ambassador of economic and social progress for the entire UAE to the world.
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.
Lotus Capital
Lotus Capital is a specialized investment management and advisory firm at the forefront of non-interest finance in Nigeria. With an experienced management team and reputable Shariah advisory board, Lotus has made indelible footprints in the Nigerian capital market for over a decade. The company currently manages the largest Shariah compliant mutual fund in the country.
In 2008, Lotus launched the first Shariah compliant mutual fund, the Lotus Halal Investment Fund, and in 2012, it partnered with the Nigerian Stock Exchange to establish the first compliant equity index, and thereafter launched a tracker fund — the Lotus Halal Equity Exchange Traded Fund.
In 2013, Lotus was the lead advisor of the first Sukuk facility in Nigeria issued by the Osun state government, which was 11.4% oversubscribed. To further deepen the non-interest capital market, Lotus launched the first Islamic fixed income fund in 2016 and acted as a co-advisor to the federal government of Nigeria on its sovereign Sukuk issuances from 2017 to 2020, all of which were oversubscribed.
White & Case
White & Case is a truly global law firm, uniquely positioned to help our clients achieve their ambitions in today’s G20 world. As a pioneering international law firm, our cross-border experience and diverse team of local, US and English-qualified lawyers consistently deliver results for our clients. In both established and emerging markets, our lawyers are integral, long-standing members of the community, giving our clients insights into the local business environment alongside our experience in multiple jurisdictions. We work with some of the world’s most respected and well-established banks and businesses, as well as start-up visionaries, governments and state-owned entities.
IN ASSOCIATION WITH
Africa Centre for Islamic Economic Development
The Africa Centre for Islamic Economic Development (ACIED), formerly, Africa Islamic Economic Foundation, is an independent development organization that provides a distinctive Islamic perspectives on economic development and social issues. Registered in 2014 and governed by the corporate laws of the Republic of Ghana, ACIED sets the benchmark on public policy by drawing together the most innovative thinking available from some of the world’s foremost experts and applying that thinking to the challenges facing Africa.
Working in close collaboration with its strategic partners in a number of key African countries, ACIED networks with individuals, Governments, public and private sector organizations to promote the asset-based paradigm of economic development in Africa. It also acts as a unique catalyst for partnerships across public, private and social sectors by mobilizing financial and human resources to confront Africa’s social needs and offers information and resources to link investors with investment opportunities in Africa.
ACIED’s Conferences, Summits and Transformative Roundtable Dialogue series are unique initiatives aimed at projecting a positive and sophisticated image of Islamic finance and economics through the exchange of cutting-edge ideas and objective discussions on the various benefits of asset-based paradigm of economic development among academicians, decision and policy makers, private sector operators and development practitioners in Africa. These exclusive and multi-sector events take place in various cities in Africa bringing together civil society organizations, governments, regional economic agencies and the private sector to collaborate, network, exchange ideas to consider major African economic issues of the day and to brainstorm on solutions to address these challenges from the perspectives of the Islamic paradigm of economic development.
Fintech Association of Nigeria
FinTech Association of Nigeria (FintechNGR) is a self-regulatory, not-for-profit and non-political organisation incorporated in Nigeria by the Corporate Affairs Commission CAC and a member of the global body Global Fintech Hubs Federation.
IFN KENYA FORUM 2019
Hailed as the new frontier for Islamic finance, Africa – where a quarter of the world’s Muslim population call home – is a land fertile with opportunities.
In recent years, the continent has seen promising developments in the Islamic finance space: country and regional authorities are pushing for new regulations to facilitate Shariah compliant transactions; new financial institutions offering Islamic products are emerging; foreign banks are establishing an African presence primarily to tap the Muslim population; and more African sovereigns are making their mark in the Sukuk space.
And it is truly an exciting time for Islamic finance in Kenya. On the back of this vibrant landscape, IFN is delighted to return to one of the fastest-growing Islamic finance markets in the region. The IFN Kenya Forum will gather leading market practitioners and regulators from across the region to discuss and debate the most pressing issues of the industry.
Date 20th June 2019
Venue InterContinental Nairobi
09:00
Welcome Remarks
09:30
Opportunities for Islamic Finance, Banking and Investment in Kenya and East Africa
We discuss key ideas, issues and themes influencing Islamic finance, banking and investment in Kenya and the region. What will offer opportunity and what will disrupt and what role will Islamic finance play in the development of social inclusion and the achievement of the UN Sustainable Development Goals in East Africa? What of new regulatory measures designed to boost domestic Islamic finance activity and what else is needed to grow capital markets, investment management, banking and Takaful?
Moderator:Tego Wolasa, Retail and Product Development Manager, KCB Sahl Bank
Panelists:Ahsan Ali, Head of Islamic Origination, Standard Chartered Bank
Claire Matheson Kirton, Partner, White & Case
Justus Agoti, Senior Researcher, Capital Markets Authority
10:30
Coffee & Networking
11:00
Corporate Financing, Capital-Raising and Projects in Kenya: What does Islamic and Responsible Finance offer?
We ask a respected panel to discuss the prospects for domestic and regional capital and Sukuk markets. What structures and asset classes will find favor with issuers and investors? We examine key factors facing issuers and projects in the Kenyan and East African markets: what challenges still exist within domestic taxation and regulatory frameworks and how can these be addressed? What does Islamic finance offer East African sovereign, multilateral and supranational issuers as well as PPP [public–private partnership] and infrastructure projects? Finally, what are the opportunities for Islamic and ethical finance to fund and cooperate with sustainable and responsible projects in key sectors such as energy, education, healthcare and agriculture?
Moderator:Rahma Hersi, Partner, Gateway
Panelists:Ahsan Ali, Head of Islamic Origination, Standard Chartered Bank
Jean-Pierre Labuschagne
Mohamed Ali Maawy, Director of Business Development, iFinancial Management
Nicole Gichuhi, Senior Associate, Anjarwalla & Khanna
Victor Nikiiri, Capital Markets Development Specialist, FSD Africa
12:00
Keynote Address: Pensions in Kenya - Opportunities for Shariah Compliant Options
Nzomo Mutuku, CEO, Retirement Benefits Authority
12:20
Recent Developments in International Islamic Financing and Sukuk Markets
Ahsan Ali, Head of Islamic Origination, Standard Chartered Bank
12:35
Nurturing Digitization and Financial Technology in Kenya and Promoting Financial Inclusion in East Africa
Through an expert panel we discuss the role of technology in the Kenyan financial services industry, and assess the latest developments in platforms, products and delivery channels across a wide spectrum of financial services. What do blockchain and smart contracts offer Islamic financial institutions, intermediaries and end-users, and what solutions are on offer to serve retail and SME sectors in particular? How can technology drive and promote financial inclusion in Kenya?
Moderator:Tego Wolasa, Retail and Product Development Manager, KCB Sahl Bank
Panelists:Ali Hussein, Principal, AHK & Associates
David Cracknell, Director, First Principles Consulting
Declan Magero, Founding Partner, Afrinet Capital
Joel Macharia, Founder and CEO, Abacus Kenya
13:15
End of Forum and Networking Luncheon
Ahsan Ali
Head of Islamic Origination, Standard Chartered Bank
Ali Hussein
Principal, AHK & Associates
Claire Matheson Kirton
Partner, White & Case
David Cracknell
Director, First Principles Consulting
Declan Magero
Founding Partner, Afrinet Capital
Jean-Pierre Labuschagne
Joel Macharia
Founder and CEO, Abacus Kenya
Justus Agoti
Senior Researcher, Capital Markets Authority
Mohamed Ali Maawy
Director of Business Development, iFinancial Management
Nicole Gichuhi
Senior Associate, Anjarwalla & Khanna
Nzomo Mutuku
CEO, Retirement Benefits Authority
Rahma Hersi
Partner, Gateway
Tego Wolasa
Retail and Product Development Manager – KCB Sahl Bank
Victor Nikiiri
Capital Markets Development Specialist, FSD Africa
Recent Developments in International Islamic Financing and Sukuk Markets
Ahsan Ali, Head of Islamic Origination, Standard Chartered Bank
Aziza Ebrahim
Advisor to CEO, Oasis Crescent
Baha Osman
Managing Director, Osman Consulting
Hajara Adeola
Managing Director/CEO, Lotus Capital
Mona Doshi
Partner, Anjarwalla & Khanna
Mohamed Ali Maawy
Director of Business Development, iFinancial Management
Mubarak Elegbede
Manager, Trade Finance Department, International Islamic Trade Finance Corporation (ITFC)
Saad Rahman
Group Managing Partner, Amani Partners
LEAD PARTNERS
Dubai Islamic Bank Kenya
About Dubai Islamic Bank:
Established in 1975, Dubai Islamic Bank (DIB) is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. DIB is also the world’s first full-service Islamic bank and the third-largest Islamic bank in the world. It operates 90 branches across the UAE, is present in seven markets worldwide and is expanding its global footprint to further grow and develop the industry. Today, it serves close to 1.7 million customers.
DIB has a significant international presence as a torchbearer in promoting Shariah compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan, a wholly owned subsidiary which is the first Islamic bank in Pakistan, and launched Panin Dubai Syariah Bank in Indonesia. In May 2017, DIB was given the license by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya.
Standard Chartered Bank
Standard Chartered
We are a leading international banking group, with a presence in 60 of the world’s most dynamic markets, and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise: ‘Here for good’.
Standard Chartered is listed on the London and Hong Kong stock exchanges as well as the Bombay and National stock exchanges in India.
For more stories and expert opinions, please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.
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
PARTNERS
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.
Emirates NBD Capital
Emirates NBD, the leading banking group in the region, was formed on the 19th June 1963, when the late Sheikh Rashid Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first national bank established in Dubai and the UAE. With the blessings of Sheikh Mohammed Rashid Al Maktoum, the vice-president and prime minister of the UAE and the ruler of Dubai, the NBD merged with Emirates Bank International (EBI) on the 6th March 2007 to form Emirates NBD, the largest banking group in the region by assets.
On the 16th October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market. The merger between EBI and the NBD to create Emirates NBD became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth-largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.
In 2013, Emirates NBD celebrated its 50th anniversary, marking the group’s outstanding achievements while highlighting the bank’s solid historical and financial foundations as well as its promising future.
As at the 31st December 2018, total assets were AED500.3 billion (US$136.19 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90% of all financial transactions and requests conducted outside of its branches. The bank was declared the ‘Most Innovative Financial Services Organization of the Year’ at the 2017 BAI Global Innovation Awards. The bank currently has 230 branches and 1,069 ATMs and SDMs [smart deposit machines] in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand.
The group has operations in the UAE, the Kingdom of Saudi Arabia, Egypt, India, Singapore, the UK and representative offices in China and Indonesia. On the 8th November 2017, it opened operations in Mumbai, India. The Mumbai branch marks Emirates NBD’s fifth international branch outside of its UAE network.
The group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of people with disabilities under its #TogetherLimitless platform. The Emirates NBD Group is an official premier partner of Expo 2020 Dubai.
Preservation of the UAE culture and heritage is at the heart of the group and in addition to supporting various initiatives that aim to preserve the UAE culture, Emirates NBD launched in 2003 the first pearl museum in the region containing the largest collection of natural pearls in the GCC. The Emirates NBD Pearl Museum is a gift from the late Sultan Al Owais, the founder of the NBD, to the people of the UAE to remind them of their culture and heritage before the discovery of oil.
Currently, more than 9,000 people, representing 70 nationalities, are employed by Emirates NBD, making it one of the largest and most culturally diversified employers in the UAE. As a national banking champion, Emirates NBD is an ambassador of economic and social progress for the entire UAE to the world.
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.
White & Case
White & Case is a truly global law firm, uniquely positioned to help our clients achieve their ambitions in today’s G20 world. As a pioneering international law firm, our cross-border experience and diverse team of local, US and English-qualified lawyers consistently deliver results for our clients. In both established and emerging markets, our lawyers are integral, long-standing members of the community, giving our clients insights into the local business environment alongside our experience in multiple jurisdictions. We work with some of the world’s most respected and well-established banks and businesses, as well as start-up visionaries, governments and state-owned entities.
IN ASSOCIATION WITH
Fintech Association of Nigeria
FinTech Association of Nigeria (FintechNGR) is a self-regulatory, not-for-profit and non-political organisation incorporated in Nigeria by the Corporate Affairs Commission CAC and a member of the global body Global Fintech Hubs Federation.
IFN SOUTH AFRICA FORUM 2019
Among the African countries that are increasingly permeating the global Islamic finance industry, South Africa is a prominent game-changer.
Its conventional legislation has been tailored to better facilitate Shariah compliant financial transactions, and since 2010, various legislation has seen daylight to better accommodate the industry. On the Sukuk front, the country led its regional peers by issuing its debut Sukuk worth US$500 million in 2014, with another expected to follow suit in this fiscal year.
Date 24th June 2019
Venue Cape Town Marriott Hotel Crystal Towers
09:00
Welcome Remarks
09:10
Keynote Address
Cas Coovadia, Managing Director, The Banking Association of South Africa
09:20
Opportunities for Islamic Finance, Banking and Investment in Southern Africa
We discuss key ideas, issues and themes influencing Islamic finance, banking and investment in Southern Africa and beyond. What will offer opportunity and what will disrupt and what role will Islamic finance play in the development of financial inclusion and the achievement of the UN Sustainable Development Goals in Southern Africa? What is needed to grow regional Islamic capital markets, investment management, banking and Takaful, and what role is technology set to play?
Moderator:Claire Matheson Kirton, Partner, White & Case
Panelists:Amman Muhammad, CEO, FNB Islamic Banking
Mohammad Mohsin Ahmed, Islamic Branch Manager, HBZ Bank
Mohammed Ameen Hassen, Head of Shariah Banking, Standard Bank
Riaz Lachman, Head, Absa Islamic Banking
Shabir Chohan, CEO, Al Baraka Bank – South Africa
10:20
Why Islamic Banking and Why it makes Sense for South Africa
Shaykh Taha Karaan, Member, Shariah Supervisory Board, Absa Islamic Banking
10:35
Coffee & Networking
11:05
Innovation in Islamic Banking and Finance: Benefiting the South African Consumer
We showcase recent achievements in development and innovation across a wide range of Islamic banking and finance activities and assess how end consumers have benefited from the availability of Islamic finance product offerings.
Moderator:Riaz Lachman, Head, Absa Islamic Banking
Panelists:Asad Kaka, Regional Head, Absa Islamic Banking
Mohammed Ameen Hassen, Head of Shariah Banking, Standard Bank
Shaheen Suliman, Head of Islamic Retail Banking, First National Bank
12:00
Corporate Financing, Capital-Raising and Asset Management in South Africa: Opportunities for Islamic and Responsible Finance
Through a panel of leading advisors and investment managers, we discuss the prospects for domestic and regional capital markets. What structures and asset classes will find favor with issuers and investors and where does Islamic finance fit in? What challenges still exist within regional taxation and regulatory frameworks for Islamic capital market and asset management products and how can these be addressed? Five years after the maiden South African US$500 million sovereign issuance, what do Sukuk offer Southern African sovereign, multilateral and supranational issuers? Finally, what are the opportunities for Islamic and ethical finance to fund and cooperate with sustainable and responsible projects in key sectors such as energy, education, healthcare and agriculture?
Moderator:Amman Muhammad, CEO, FNB Islamic Banking
Panelists:Ahsan Ali, Head of Islamic Origination, Standard Chartered Bank
Abdullah Ameed, Financial Director, Al Baraka Bank – South Africa
Aseef Hassim, CFO, FNB Islamic Banking
Ebrahim Tootla, Head of Shariah ALM/TCM, Standard Bank
12:50
Presentation: Market Conduct and Prudential Regulation — the South African Islamic Financial Services Industry and the Implementation of Twin Peaks
Kershia Singh, Head of Market, Customer and Inclusion Research, Financial Sector Conduct Authority
13:05
Recent Developments in International Islamic Financing and Sukuk Markets
Ahsan Ali, Head of Islamic Origination, Standard Chartered Bank
13:20
Regulatory, Taxation Issues and Shariah Governance Frameworks for Islamic Banks in South Africa: Challenges and Solutions
Moderator:
Shabir Chohan, CEO, Al Baraka Bank – South Africa
Panelists:Ahmed Suliman, Shariah Advisor, FNB Islamic Banking
Mufti Shafique Jakhura, Member, Shariah Supervisory Board member, Al Baraka Bank – South Africa
Yasmeen Suliman, Executive, Tax, Bowmans
Yusuf Suliman, Head, Shariah Advisory, Standard Bank
14:00
End of Forum & Luncheon
Abdullah Ameed
Financial Director, Al Baraka Bank – South Africa
Ahmed Suliman
Shariah Advisor, FNB Islamic Banking
Ahsan Ali
Head of Islamic Origination, Standard Chartered Bank
Amman Muhammad
CEO, FNB Islamic Banking
Asad Kaka
Regional Head, Absa Islamic Banking
Aseef Hassim
CFO, FNB Islamic Banking
Cas Coovadia
Managing Director, The Banking Association of South Africa
Claire Matheson Kirton
Partner, White & Case
Ebrahim Tootla
Head of Shariah ALM/TCM, Standard Bank
Kershia Singh
Head of Market, Customer and Inclusion Research, Financial Sector Conduct Authority
Mohammed Ameen Hassen
Head of Shariah Banking, Standard Bank
Mufti Shafique Jakhura
Member, Shariah Supervisory Board member, Al Baraka Bank – South Africa
Riaz Lachman
Managing Director, Absa Islamic Banking
Shabir Chohan
CEO, Al Baraka Bank – South Africa
Mohammad Mohsin Ahmed
Islamic Branch Manager, HBZ Bank
Shaheen Suliman
Head of Islamic Retail Banking, First National Bank
Shaykh Taha Karaan
Member, Shariah Supervisory Board, Absa Islamic Banking
Yasmeen Suliman
Executive, Tax, Bowmans
Yusuf Suliman
Head, Shariah Advisory, Standard Bank
Recent Developments in International Islamic Financing and Sukuk Markets
Ahsan Ali, Head of Islamic Origination, Standard Chartered Bank
Presentation: Market Conduct and Prudential Regulation — the South African Islamic Financial Services Industry and the Implementation of Twin Peaks
Kershia Singh, Head of Market, Customer and Inclusion Research, Financial Sector Conduct Authority
Amman Muhammad
CEO, FNB Islamic Banking
Aziza Ebrahim
Advisor to CEO, Oasis Crescent
Baha Osman
Managing Director, Osman Consulting
Hajara Adeola
Managing Director/CEO, Lotus Capital
Mohammed Ameen Hassen
Head, Shariah Banking, Standard Bank
Mubarak Elegbede
Manager, Trade Finance Department, International Islamic Trade Finance Corporation (ITFC)
Riaz lachman
Managing Director, Absa Islamic Banking
Saad Rahman
Group Managing Partner, Amani Partners
Shabir Chohan
CEO, Al Baraka Bank
LEAD PARTNERS
Absa Bank
Absa is a truly African brand, inspired by the people we serve and determined to always be brave, passionate and ready so that we can make Africa proud. Absa Group is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups with a presence in 12 countries across the continent and around 42,000 employees, generating profits in excess of ZAR14 billion (US$968.57 million) and holding assets of ZAR1.3 trillion (US$89.94 billion).
Absa Islamic Bank, a division of Absa Bank, offers Shariah compliant solutions that cater to our clients’ diverse needs. True to the universal appeal of Islamic financing solutions, Absa’s Islamic banking is available to anyone who wants to bank differently and not just only to members of the Muslim community. We are committed to finding local solutions to uniquely local challenges and everything we do is focused on adding value. To this end, we offer all our clients across the continent a range of retail, business, corporate and investment and wealth management solutions while ensuring that we have a positive impact in all the countries in which we operate.
Al Baraka
AL BARAKA BANK
A Member of Al Baraka Banking Group
The benefits of Shariah compliant banking is gaining momentum in South Africa.
Established in Durban in 1989, Al Baraka Bank is the country’s only fully-fledged Islamic bank, pioneering Shariah compliance here and providing banking which adheres to Islamic economic precepts.
Bahrain-based Al Baraka Banking Group (ABG), of which Al Baraka Bank in South Africa is a subsidiary, is a world-leading Islamic banking enterprise, operating in 17 countries. With a net income of US$217 million and total assets topping US$23.4 billion in 2018, ABG is positioned to maximize this market’s growth.
Al Baraka Bank South Africa provides communities with a practical and sustainable alternative to conventional banking. With its head office in Durban, its national footprint comprises seven retail branches, three corporate banking offices and a professional and regional office, delivering a commercial bouquet of Shariah compliant products. ABG’s 64.5% shareholding in the bank makes it an integral part of the international group. This linkage, coupled with its own growth trajectory, has positioned Al Baraka Bank at the cutting-edge of Islamic banking in South Africa.
FNB Islamic Bank
FNB is the oldest bank in South Africa, and its roots can be traced back to 1838. When looking at FNB’s history, two things in particular stand out. The first is a story of survival — different circumstances in South Africa have posed many great challenges in our history, all of which FNB has successfully met. This track record provides a strong foundation for our future challenges. The second is a story of people — our history has always been firmly influenced by the needs of the people we serve.
The Acacia tree in our brand logo is a suitable representation of our history. Our roots run deep in South Africa, and we have grown thanks to our commitment to serving the needs of our clients and communities; this is evident in the fact that FNB was the first of the four large banks in South Africa to open an Islamic banking window and offer Islamic banking to South Africa’s minority Muslim population which roughly constitutes just 2% of the total population.
Islamic banking products can be found in each of the franchises that make up FirstRand Bank. In totality, the bank covers a large spectrum of Islamic banking and financial service offerings, including Islamic retail and business banking, Islamic corporate and merchant banking, Islamic vehicle and equipment finance, Islamic trusts and wills and bespoke Islamic equity trading options.
FNB Islamic Banking fosters that spirit of continued innovation and, as a business unit, it won the 2017 finals of the bank’s Group Innovation competition with its entry ‘Islamic Treasury Solution’. In 2017, the Islamic banking unit was also declared as the ‘Best Niche’ business offering by FNB Business Banking. In order to keep pace with the industry, FNB Islamic Banking is continually innovating its products and services to remain competitive within the market and to manage customer expectation. FNB Islamic Banking was also named by Islamic Retail Banking Awards as the strongest Islamic retail bank in South Africa for 2015 and 2016.
FNB Islamic banking’s expansion into the rest of Africa is a key priority for the group. A large majority of the countries that FNB currently operates in have large Muslim populations and are well poised to offer Islamic financial services. We currently offer Islamic retail and business banking in Botswana and are in the process of expanding the offerings to other potential demographics.
HBZ Bank
HBZ Bank is a wholly-owned subsidiary of Habib Bank AG Zurich. Since its establishment in 1967, Habib Bank AG Zurich has expanded into a truly international bank whose operations encompass over 346 branches, affiliates, subsidiaries and representative offices that span four continents including countries such as Switzerland, the UK, the UAE, Pakistan, Hong Kong, Kenya, South Africa and Canada.
HBZ proudly offers Shariah compliant Islamic banking which is available to any person or business that wishes to make use of any Shariah compliant banking product. Our Islamic banking identity ‘SIRAT’ (‘Path To Success’) instills our values of security, integrity, reliability, accessibility and trust.
Standard Bank
Africa is our home. We drive her growth by being the leading financial services organization in and across Africa.
Throughout Standard Bank’s history, it has contributed meaningfully to Africa’s welfare. We are the largest bank in Africa by assets, and we draw on the sense of responsibility that Africa is our home, and that we drive her growth.
According to statistics, most of Africa’s population adhere to the faith of Islam and with IMF research showing that a noticeable portion of this population choose to formally exclude themselves from the banking sector for faith reasons, Standard Bank has embarked on a journey to bring Shariah compliant financial services to our clients across our operations.
Although the journey only began a few years ago, we were afforded the opportunity to be the lead manager and arranger for South Africa’s inaugural international Sukuk in 2014.
Standard Chartered Bank
Standard Chartered
We are a leading international banking group, with a presence in 60 of the world’s most dynamic markets, and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise: ‘Here for good’.
Standard Chartered is listed on the London and Hong Kong stock exchanges as well as the Bombay and National stock exchanges in India.
For more stories and expert opinions, please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.
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
IN ASSOCIATION WITH
The Banking Association South Africa
The Banking Association South Africa is the mandated representative of the banking sector and addresses industry issues through:
- Lobbying and advocacy
- Policy influence
- Guiding transformation in the sector
- Acting as a catalyst for constructive and sustainable change in the sector
- Engagement with critical stakeholders
The Banking Association South Africa manages numerous committees that advise The Banking Association executive on issues pertinent to the sector. The executive of The Banking Association also leverages off the capacity of members of these committees, so as to bring the optimal resources to bear on pertinent issues.
In addition to the committees, The Banking Association South Africa oversees several business forums, task groups and sub-committees, which are interim structures put in place to assist the committees in resolving a particular matter/issue at a given time.
We are the only African Banking Association that is a member of the International Banking Federation (IBFed).
PARTNERS
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.
Emirates NBD Capital
Emirates NBD, the leading banking group in the region, was formed on the 19th June 1963, when the late Sheikh Rashid Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first national bank established in Dubai and the UAE. With the blessings of Sheikh Mohammed Rashid Al Maktoum, the vice-president and prime minister of the UAE and the ruler of Dubai, the NBD merged with Emirates Bank International (EBI) on the 6th March 2007 to form Emirates NBD, the largest banking group in the region by assets.
On the 16th October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market. The merger between EBI and the NBD to create Emirates NBD became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth-largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.
In 2013, Emirates NBD celebrated its 50th anniversary, marking the group’s outstanding achievements while highlighting the bank’s solid historical and financial foundations as well as its promising future.
As at the 31st December 2018, total assets were AED500.3 billion (US$136.19 billion). The group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90% of all financial transactions and requests conducted outside of its branches. The bank was declared the ‘Most Innovative Financial Services Organization of the Year’ at the 2017 BAI Global Innovation Awards. The bank currently has 230 branches and 1,069 ATMs and SDMs [smart deposit machines] in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand.
The group has operations in the UAE, the Kingdom of Saudi Arabia, Egypt, India, Singapore, the UK and representative offices in China and Indonesia. On the 8th November 2017, it opened operations in Mumbai, India. The Mumbai branch marks Emirates NBD’s fifth international branch outside of its UAE network.
The group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of people with disabilities under its #TogetherLimitless platform. The Emirates NBD Group is an official premier partner of Expo 2020 Dubai.
Preservation of the UAE culture and heritage is at the heart of the group and in addition to supporting various initiatives that aim to preserve the UAE culture, Emirates NBD launched in 2003 the first pearl museum in the region containing the largest collection of natural pearls in the GCC. The Emirates NBD Pearl Museum is a gift from the late Sultan Al Owais, the founder of the NBD, to the people of the UAE to remind them of their culture and heritage before the discovery of oil.
Currently, more than 9,000 people, representing 70 nationalities, are employed by Emirates NBD, making it one of the largest and most culturally diversified employers in the UAE. As a national banking champion, Emirates NBD is an ambassador of economic and social progress for the entire UAE to the world.
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.
White & Case
White & Case is a truly global law firm, uniquely positioned to help our clients achieve their ambitions in today’s G20 world. As a pioneering international law firm, our cross-border experience and diverse team of local, US and English-qualified lawyers consistently deliver results for our clients. In both established and emerging markets, our lawyers are integral, long-standing members of the community, giving our clients insights into the local business environment alongside our experience in multiple jurisdictions. We work with some of the world’s most respected and well-established banks and businesses, as well as start-up visionaries, governments and state-owned entities.
MEDIA PARTNERS
AlHuda CIBE
AlHuda Centre of Islamic Banking and Economics is working diligently and under vigilance shariah
compliant standards since its inception. AlHuda CIBE was established in 2005 and Mr. Zubair Mughal is its
Chief Executive Officer. AlHuda CIBE has been accredited as a distinguished service provider due to our
notable services, team of dedicated professionals and one stop solutions of Islamic banking and finance.
Our aim is to provide state-of-the-art and science services of Islamic banking and finance worldwide.
AlHuda head office is in UAE and regional offices are in Pakistan and in South Africa. AlHuda CIBE is
omnipresent worldwide for its various services:
- Advisory & Consultancy
- Research & Development
- Education & Capacity Building
- Shariah Advisory
- Publications & Events
Website link: www.alhudacibe.com
Financial IT
Innovation is the common feature of the companies that we work with. Some are FinTech disruptors, posing a direct challenge to established institutions. Others are technology companies, providing solutions that produce positive outcomes for institutions and their clients.
Financial IT is a digital platform for multimedia and editorial content, rankings and overviews of major industry events. Financial IT magazine is published throughout the year in digital form. Financial IT magazine is available in print form at major trade events through our media partnerships.
We believe that our competitive edge comes from our established relationships with Financial IT companies and institutions, the breadth of the solutions described and the quality of content. Financial IT provides a detailed map of the everchanging space where the IT provider sector meets the broadly defined financial services sector. Visit our website: www.financialit.net.
Fintech Association of Nigeria
FinTech Association of Nigeria (FintechNGR) is a self-regulatory, not-for-profit and non-political organisation incorporated in Nigeria by the Corporate Affairs Commission CAC and a member of the global body Global Fintech Hubs Federation.
Oxford Business Group
Oxford Business Group (OBG) is a global research and consultancy company with a presence in over 30 countries, from the Middle East, Africa and Asia to the Americas. A distinctive and respected provider of on-the-ground intelligence on many of the world’s fastest growing markets, OBG has offices in London, Berlin, Dubai and Istanbul, and a network of local bureaus across the countries in which we operate.
Through its range of products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, tourism, energy, transport, industry and ICT. OBG provides business intelligence to its subscribers through multiple platforms: Economic News and Views, OBG Business Barometer – CEO Survey, Roundtables and conferences, Global Platform – exclusive video interviews, The Report publications and its Consultancy division.
The Business Year (TBY)
The Business Year (TBY) is a global media group specializing in economic news, research on national economies, and business intelligence across emerging markets. With operations in over 35 countries, we bring first-hand insights to investors, businesses, and governments worldwide.
True Banking
True Banking is a Bi-Monthly magazine working to deliver Islamic banking & financial services with specific focus on research development, market analysis, training and advancements. The prime aim of True Banking is to create awareness of Islamic banking and finance in the masses and to make available a platform to get the latest news, innovations and updates of national and international banking and finance industry. It is an addition to our achievements towards developing and promoting Shariah compliant financial industry worldwide.
Last Visit to Africa
Kenya, one of the fastest-growing economies in Africa, is now a leading contender in the bid to become Africa’s Islamic finance hub.
Efforts by Kenya’s financial regulators have paid off and paved the way forward for the country’s Islamic finance industry. With its much anticipated sovereign issuance, recently proposed CMA legislation promoting the use of Islamic financial products and the government’s commitment to position Kenya as a center of excellence for Shariah finance, the Islamic Corporation for the Development of the Private Sector and REDmoney Events are pleased to announce that our inaugural IFN Kenya Forum will take place in Nairobi on 27th November.
With all eyes on Kenya’s progress in Islamic finance, the IFN Kenya Forum will host some of the most influential Islamic finance dealmakers from Europe, the Middle East and key African economies.
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Dr Yakubu 2016
Thank you for inviting me to the event co-sponsored by the government of Cote d’Ivoire, the Islamic Corporation for the Development of the Private Sector (ICD) and the REDmoney Group. I appreciate the opportunity given to participate as one of the panelists at the Africa Islamic Finance Forum. I indeed found it to be useful, thought provoking and an opportunity to advocate the sustained growth of Islamic finance in Africa. The networking opportunities and exposures were valuable. Extend my sincere appreciation to the Minister of Planning and Development for all the Hospitality provided during the two-day event. I will honor future invitations in support of future Africa Islamic Finance Forum events.
Dr Yakubu A Umar
Special Advisor to the Governor on Islamic Finance, Central Bank of Nigeria
Hajara Adeola-nigeria19
Congratulations on a very successful event.
Hajara Adeola
Managing Director/CEO, Lotus Capital
Bashir Sharif Isyaku-nigeria19
This is the best Islamic Finance Forum I have ever attended.
Bashir Sharif Isyaku
Head, North-west Regional Tax Audit, Federal Inland Revenue Service, Kano
Jude Chiemeka-nigeria19
Very much appreciated and a big congratulations to you and your team. The event was very successful. We look forward to many more collaborative efforts.
Jude Chiemeka
Divisional Head, Trading Business, Nigerian Stock Exchange
Toyin Kekere-Ekun-nigeria19
IFN Nigeria Forum was the perfect platform to boost discussions around the growth and direction of Islamic finance in Nigeria. The diversity of participants, involvement of regulators and pertinent topics deliberated all contributed to the success of the event. We are pleased to have partnered on such an impactful forum.
Toyin Kekere-Ekun
CEO Lotus Financial Services
Amman Muhammad-southafrica19
A big thank you for all the effort you put into this conference. Alhamdulilah we are getting very positive feedback. This initial conference has provided great perspectives
Amman Muhammad
CEO, FNB Islamic Banking
Phil Attwood-southafrica19
We attended the Kenya and South African legs of the IFN African Roadshow and found both to be well attended and organized; this was especially the case in Cape Town where the quality of speakers and discussion was very high.
Phil Attwood
Commodity Trader, Eiger Trading Advisors
Moulana Yusuf Jeena-southafrica19
Thank you for putting together a successful IFN South Africa 2019!
Moulana Yusuf Jeena
Shariah Advisor, Albaraka Bank
Nazeer Cassim-southafrica19
Many thanks to Andrew Tebbutt and the REDmoney team on delivering an exceptional event in South Africa. The agenda covered critical issues and challenges facing Islamic banking in South Africa, with possible solutions. The various speakers and panel participants were well versed within their respective fields. Most importantly, the networking among all invited guests was invaluable. We look forward to the follow-up event in 2020.
Nazeer Cassim
Senior Manager, Islamic Banking Gauteng Corporate Office, HBZ Bank
For any inquiries contact us
Our team will be glad to answer any questions you may have about this event.
