H.E Abdullah Salim Al-Salmi
Executive President
Capital Market Authority, Sultanate of Oman
Date: 12th March 2019
Venue: Grand Millennium Muscat
Remaining: 300 Seats
Speakers: 50 Speakers
12th March 2019, Grand Millennium Muscat
About The Forum
Oman has been the hotbed of interest for investors and corporates alike for almost half a decade now. The development of the Islamic finance and banking industry has been an important contributor to the country’s economic growth, with efforts to grow the sector being exercised frequently to compete with its neighbors. Oman has had an impressive Islamic finance growth across multiple sectors in the past years.
As at the end of the first quarter of 2018, Islamic banking assets was recorded at OMR1.41 billion (US$3.65 billion), a 36.9% year-on-year increase from OMR1.03 billion (US$2.67 billion). Revenues generated by the Sultanate’s Islamic banking industry during the same period was realized at OMR17.87 million (US$46.31 million), an increase of 46.12% from OMR12.23 million (US$31.69 million) recorded in the first quarter of 2017.
Forum Agenda
9:00 – 9:15
Keynote Address
H.E Abdullah Salim Al-Salmi, Executive President, Capital Market Authority, Sultanate of Oman
9:15 – 9:30
Keynote Address
H.E Tahir Salim Al Amri, Executive President, Central Bank of Oman
9:30 – 10:30
Opportunities for Oman: The Next Stage of Development for Islamic Banking, Capital Markets & Takaful
Through a select group of senior market participants, we review recent developments in Omani Islamic banking, finance, Takaful and investment and ask if expectations have been matched, exceeded or otherwise. We examine industry consolidation and assess the efficacy of various operational models for Islamic banks – standalone and windows – whilst at the same time examining pressing issues such as liquidity management as part of the Sultanate’s Islamic Banking Regulatory Framework. We also discuss what a deposit insurance scheme would look like in Oman and assess what can be learnt from other Islamic finance centers that have successfully implemented such schemes.
Panelists:
Kemal Rizadi Arbi, Expert/Advisor, Capital Market Authority, Sultanate of Oman
Khalid Al Kayed, CEO, Bank Nizwa
Saud Al Busaidi, Manager, Islamic Banking Department, Central Bank of Oman
12:00 – 12:15
Case Study One: Shariah Compliant Project Financing - Duqm Refinery
12:15 – 12:35
Coffee & Networking
12:35 – 1:00
Learning from Financial Institution and Corporate Issuers in Oman
What rationale do potential and past issuers use for evaluating the offerings of Islamic capital markets? What lessons can be learnt from recent issues in Oman? We examine factors for success including structures, pricing, ratings, distribution, market conditions and credit enhancement.
1:00 – 1:15
Presentation: Takaful in Oman - Models for Success
1:15 – 2:00
REITs and Islamic Investment Funds in Oman
An expert panel discuss the evolution and development of the Real Estate Investment Trust market in Oman. How far has the market come and what is the next stage of growth for REITs in Oman? How can challenges such as asset quality and diversification be overcome and what is current investor sentiment and appetite?
2:00
Closing Remarks & End of Forum
2.30 – 4.00 FinTech Breakout
2.30 – 4.15 Student Forum
2:30 pm – 2:45 pm
Welcome remarks
2:45 pm – 3:00 pm
The Islamic Banking & Finance Industry – An Overview
3:00 pm – 3:15 pm
The Islamic Retail Banking Market
3:15 pm – 3:30 pm
Understanding the Islamic Capital Markets
3:30 pm – 3:45 pm
Legal and Regulatory Issues in Islamic Finance
3:45 pm – 4:00 pm
Closing remarks
4:00 pm
End of Student Forum
2:30 pm – 4:30 pm
The Oman Dialogue
Now in its fourth year, the highly acclaimed IFN Oman Dialogue will once again bring together a select group of Oman’s leading Islamic finance industry’s practitioners and regulators, to openly discuss the benefits and concerns facing the Shariah compliant financing and investment market today.
This thought-provoking exclusive closed-door session brings together the industry’s elite with extensive knowledge of that particular market and industry regulators. The Oman Dialogue will consist of local regulators and industry practitioners and international key players with a solid understanding of the local market but with an outsider’s point of view.
Forum Keynotes
H.E Tahir Salim Al Amri
Executive President
Central Bank of Oman
Forum Speakers
Kemal Rizadi Arbi
Expert/Advisor
Capital Market Authority, Sultanate of Oman
Khalid Al Kayed
CEO
Bank Nizwa
Saud Al Busaidi
Manager, Islamic Banking Department
Central Bank of Oman
Advisory Board
Asad Qayyum
Senior Associate
Al Busaidy, Mansoor Jamal & Co
Dhana Pillai
Partner
Al Hashmi Law
Kemal Rizadi Arbi
Expert/Advisor
Capital Market Authority, Sultanate of Oman
Khalid Howladar
Managing Director and Founder
Acreditus
Mohsin Shaik Sehu Mohammed
Head of Investment Banking and Capital Markets
Maisarah Islamic Banking Services
Muhammad Kashif Zafar
Head of Islamic Banking Finance
Bank Sohar
Riza Ismail
Senior Counsel & Head, Banking & Finance Practice Group
Al Alawi & Co
Sadaf Buchanan
Partner
Dentons
Saifuddin Ahmed
Head of Asset Management
Almadina Investment
Zainab Aziz
Counsel
Curtis, Mallet-Prevost, Colt & Mosle
FORUM SPONSORS
LEAD PARTNER
PARTNER
Last Visit to Muscat
As one of the last GCC nations to join its peers in tapping the Islamic finance industry, Oman has been the hotbed of interest in the GCC region for investors and corporates alike for almost half a decade now. The development of the Islamic finance and banking industry has been an important contributor to the country’s economic growth, with efforts to grow the sector being exercised frequently to compete with its neighbors.
Oman has had an impressive Islamic finance growth across multiple sectors in the past years. By the end of 2016, Shariah compliant shares worth OMR3.3 billion (US$8.54 billion) represented 21.58% of the total market capitalization of shares listed on the Muscat Securities Market. Sukuk outstanding of OMR329.48 million (US$852.92 million) took up 16.29% of the total market value of the fixed income market. In 2017, the sovereign issued its US dollar Sukuk, followed by the first Sukuk program by Meethaq. Meanwhile, the Takaful market’s gross direct premiums of OMR42.06 million (US$108.88 million) represented 9.3% of the total insurance premiums in Oman. All these were achieved in about six years since Islamic finance was permitted in 2011 – a remarkable feat. The Sultanate’s strong political will, as well as solid demand, is the driving force behind its success.
Nonetheless, there is still ample room for more development including continuous engagement between regulators and industry participants to discuss needs and enhance the regulatory infrastructure, better communication and alignment of procedures between regulatory and government bodies and continuous development in the human capital space.
After the success of IFN Oman Forum in 2017, the forum will once again return to Oman on the 13th March 2018. Having hosted the forum and dialogue with many groundbreaking sessions and an engaging debate in 2017, the event for 2018 will evolve into a forum with an expected larger number of participants, against the backdrop of further inroads that Oman has made in the industry thus far. Join market regulators and leading industry experts as they discuss the potential of this growing industry at IFN Oman Forum 2018.
We were very pleased with the attendance of all the major banks and fintechs from India, Pakistan, Iran, and Bahrain that participated. It was a small setup but one of the very well-organized and compact ones. On behalf of Monami Tech, we appreciate the exposure and hope to be considered for speaking opportunities in the future.
Chitrajit Chakrabarti
VP International Business, Monami Tech
Thanks and appreciation for the excellent organization of the forum. It was also our pleasure to participate in the prestigious event. We look forward to 2019’s edition too.
Khalid Al Kayed
CEO, Bank Nizwa
Thanks for having me at this very high-profile event and allowing me to speak and learn and share views at the dialogue. I am sure IFN Events will be followed in the future and participants will be waiting for it.
Sulaiman Hamad Al Harthi
Deputy CEO - Islamic Banking ,Islamic Banking Group Bank Muscat
For any inquiries contact us
Our team will be glad to answer any questions you may have about this event.
