Date: 19th - 21st October 2020
About the Forum
Kuwait, an important market for Islamic finance with a long-standing commitment to Islamic banking and finance, is poised to have a growing Shariah finance industry with recent market developments. Progress in the past year in Kuwait has paved the way for its growth as a pioneer in the Islamic finance industry. The latest, and potentially groundbreaking, development in the State of Kuwait is the amendment of the Public Debt Law, which if passed, would potentially signal the nation’s first sovereign Sukuk. Kuwaiti investors have also been recognized for their active momentum not only in the GCC, but also in the US and Europe.
The world has changed. How our industry - Islamic banking, finance and investment - chooses to respond to these changes may be a generation-defining moment. Can Islamic finance in Kuwait use this opportunity to become truly responsible, inclusive and ethical, while at the same time contributing to the country’s growth and development? How can we as an industry ensure this is substance over form on a permanent basis? What opportunities do the UN Principles for Responsible Banking offer Islamic financial institutions in Kuwait? How can the core values of Islamic finance be further applied to sustainable and socially responsible finance and investment strategies? What is an accurate assessment of the situation with bank consolidation in Kuwait, and what will be the best course of action for the domestic Islamic banking industry? We ask a respected panel for a new roadmap to success for Islamic banking, finance and capital markets in Kuwait.
Are Sukuk still a viable option for Kuwaiti banks seeking to enhance liquidity and capital management, while diversifying funding sources? What can technology, particularly tools such as Blockchain, offer capital market and asset management innovation in Kuwait? What more needs to be done to drive the issue of Shariah compliant tradeable securities, including Sukuk, in the country? What regulatory changes would be helpful and constructive towards this objective? How can Islamic finance mobilize in Kuwait to address the imminent challenges of the real economy and provide not just liquidity support, but solvency support to the corporate sector? How can sustainable and responsible investment make progress in Kuwait and can the UN Sustainable Development Goals be applied to the State’s Islamic finance activities? Lastly, we examine the country’s infrastructure requirements in the coming years and ask what can be funded through Islamic facilities, how can risk be effectively managed and do public/private partnerships offer a viable opportunity?
What are the major challenges and opportunities facing Kuwaiti banks in their digitization programs and strategies for the adoption of financial technology? How is digitization within local banks driving effective segmentation and the development of ever more efficient product delivery channels? What opportunities do Blockchain and Distributed Ledger Technology offer Islamic financial institutions and consumers in Kuwait? Where do crowdfunding and peer-to-peer lending potentially fit in the Kuwaiti financial system and what can be done to develop and nurture these important components? Where and how can FinTech play a meaningful role in key Islamic social financial activities such as Takaful, Zakat and Waqf?
Last Visit to Kuwait
Date: 12th November 2019
Venue: JW Marriott Kuwait City
Speakers: 20 Speakers
Objectives of the Dialogues
The IFN Kuwait Dialogue will provide market players with an opportunity to come together and discuss how to advance and develop the Islamic Banking industry in Kuwait. The sessions will enable participants to share in-depth analysis, experiences, information and views that may be more appropriately discussed in a smaller, more exclusive environment. The Dialogues will also allow market players and regulators to provide bi-lateral feedback and suggestions on how the participation industry can be taken forward: what steps should be taken by regulators and how market players can assist.