Partner, Al Busaidy, Mansoor Jamal & Co
Date: 10th March 2020
Venue: Grand Millennium, Muscat
Speakers: 27 Speakers
ABOUT THE FORUM
For the fourth year in a row, IFN is excited to be back in Oman. The country has been the hotbed of interest for investors for almost half a decade despite being the new kid on the block. The growth of the Islamic finance and banking industry has been an effective contributor to the country’s economic growth with efforts being exercised frequently across multiple sectors in the past years.
Oman’s Islamic finance industry recorded a growth rate of 14% last year. The country has two stand-alone Islamic banks and six Islamic windows at conventional banks offering Islamic services. Its Islamic finance assets are projected to grow to US$3.2 trillion by 2020, with Islamic banking reaching US$2.6 trillion globally.
Kemal Rizadi Arbi
Expert/Advisor, Capital Market Authority, Sultanate of Oman
Mohamad Noranuar Sajari
Head, Sharia Structuring, Bank Nizwa
Mohsin Shaik Bin Sehu Mohamed
Senior Executive Manager – Investment Banking & Capital Markets, Maisarah Investment Department
Head, Islamic Finance, College of Banking and Financial Studies
Muhammad Kashif Zafar
Head of Islamic Banking Finance, Sohar Islamic
General Manager, Meethaq Islamic Banking, Bank Muscat
Last Visit to Muscat
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.
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.
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.
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.
Thank you IFN for these productive events you guys do the world over. Always felt at home and keen to contribute and promote these efforts.
It was indeed a pleasant experience and enjoyable events including networking.
Indeed it was a great event. The IFN team did a great job. I want to extend a special thank you for having Sohar Islamic as a sponsor and me as a panelist. I would love to have senior management participation next time. We can discuss that nearer to the event date. Also, I hope that we can get more companies on board.
The experience of attending IFN Oman 2019 event has been wonderful. It hits all the right notes with contemporary issues being discussed and experts sharing their thoughts. The format has been well planned with conference sessions and networking sessions evenly paced out. It was a pleasure to meet all the financial industry experts, regulatory bodies and clients present at the event.