Date: 20th November 2019

Venue: Dublin

Attendees:

Speakers: 30 Speakers

ABOUT THE DIALOGUE

Ireland, since 2011, has aspired to be a center of excellence for Islamic finance, and market conditions and geopolitical developments, coupled with industry activities, signal that the European island is closer to its ambitions now that it was a few years ago.

Thanks to taxation reforms, the flexibility of regulators as well as creativity and perseverance of industry participants, Ireland continues to be one of the leading international Sukuk listing destinations in the world. Over the last year the country also demonstrated that it is ready to make its mark in other areas of the Islamic finance industry.

In 2019, several Shariah compliant deals took place including a real estate transaction and the rollout of Ireland’s first Islamic consumer financing instrument on the back of growing demand by the local Muslim community. A nationwide study conducted this year found that an overwhelming majority (98%) of over 400 Muslim respondents attributed the lack of a compliant alternative product as the reason for not purchasing a home or investment property, leaving an investment gap of at least EUR30 million (US$33.8 million). Almost every respondent would take up an Islamic option if it was available.

With the prospect of the UK leaving the EU in 2019, multiple doors are opened for Ireland, particularly as it would be the only native English-speaking country in the EU27 which could also extend Islamic financial institutions passporting rights into the EU. The IFN Ireland Dialogue will explore how best Ireland can realize its Islamic finance ambition and the challenges it needs to overcome as well as steps it needs to take.

An all New Exciting Event for Ireland

Following extensive research we are excited to add Dublin, Ireland to the 2019 IFN roster of events, with the exclusive, interactive and hugely development focused Dialogue series:

Objectives of the Dialogues

IFN Ireland Dialogues provide market players with an opportunity to come together and discuss, in a closed-door setting, how to advance the participation finance industry. The sessions will enable participants to ask questions and share information and views that may not be discussed in open forums. The Dialogues will also allow market players to provide feedback and suggestions to regulators on how to move the participation industry forward and to identify what steps they feel should be taken by regulators and how market players may be able to assist.

Format and Follow-on

The Dialogues adopt the Chatham House Rule, designed to increase openness of discussion. Anyone who attends the Dialogue is free to use the information from the discussion but is not permitted to reveal or attribute comments made. At the conclusion of the Dialogues, IFN will produce a report summarizing key points discussed during the sessions. This report will then be distributed to Dialogue participants and relevant regulatory bodies. All recipients will be reminded of the confidential nature of this document.

Role of Regulators and Market Players during the Dialogues

Regulators are invited to attend the Dialogues. They need not actively participate in discussions but are of course welcome to do so. Market players are encouraged to use this opportunity to raise issues that they would not otherwise feel comfortable discussing in an open forum. The Dialogues are an opportunity to raise, debate, analyze and examine current issues affecting the participation finance industry among a group of peers. They offer a unique platform to share concerns with regulators – those in the room and those who will eventually receive the Dialogue report. Finally, it is also an ideal setting to discuss potential collaboration that will ultimately benefit the domestic market.

Pre-Dialogue Preparation and Agenda Setting

All Dialogue participants will be confirmed and announced two weeks prior to the event taking place. At that point, IFN will invite participants to provide input on key issues, questions and points that will ultimately shape the agenda and drive the Dialogue discussion and will also ask participants to identify and share topics and areas they would like to be addressed on.

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DIALOGUE AGENDA

How we build our programs

Our Events offer participants a holistic view of latest industry trends in a succinct one-day program format. Our agendas are compiled after in-depth research is undertaken through research reports and interviews, in house content and discussions with market participants. For each event an advisory board comprising the industry’s leading practitioners and regulators is assembled to offer advice on content, speakers, flow and format. The agenda is circulated to the advisory board for final comments before our team initiates the speaker invitation process.

09:20

Welcome and Introduction

09:30

Dialogue One: Trends and Developments in Islamic Finance and Investment: Ireland, the UK and Further Afield

  • What are notable recent developments in Islamic finance and investment in Ireland and the region?
  • Exploring socio-political events, the oil price and their inevitable influence on regional Islamic finance
  • Has the perception of Islamic finance, investment and banking in Ireland and the UK changed over the past 18 months? If so, why?
  • What opportunities are available for Irish and regional Islamic finance in a post-Brexit environment?
  • How can Ireland and the UK, through their Islamic finance capabilities, strengthen trade and investment ties with Asia and the Gulf regions?
  • Where are the prospects and opportunities for Irish Islamic finance players in these regions?
  • Are we likely to see any post-Brexit changes to regulatory environments for Islamic finance transactions?
  • What other notable developments is the industry seeing? For example, what’s the outlook for Islamic banking outside the traditional strongholds of the Gulf and Asia?

11:00

Coffee Break

11:30

Dialogue Two: Effectively Positioning Ireland in the Global Islamic Finance Landscape

  • What needs to be done to further align Islamic finance with the aims, objectives and structure of the Irish financial services industry?
  • Ireland has positioned itself well to domicile and service Islamic funds and collective investment schemes. What needs to be done to protect and strengthen this position?
  • Euronext Dublin has had significant success listing notable Sukuk transactions, with many coming from the Gulf. What has Ireland done right and what needs to be done to insulate this enviable success?
  • Ireland has enjoyed success in other niche Shariah compliant financing and investment activities: real estate investment and aircraft leasing to name but two. What other investment and financing activities can Ireland leverage on and create competitive advantage?
  • What’s a fair and accurate view of taxation of Islamic finance transactions in the Ireland and Ireland?
  • What other global regulatory developments are likely to affect our industry in the coming year?
  • Looking ahead: what developments and trends are taking place in other regions that may become significant for Irish markets?

12:30

Close of Dialogue

DIALOGUE SPEAKERS

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DIALOGUE PARTNERS

MULTILATERAL STRATEGIC PARTNERS

LANYARD SPONSOR

For any inquiries contact us

Our team will be glad to answer any questions you may have about this event.