5th December 2024
Sheraton Grand Istanbul Atasehir
in operation
at this event
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About The Dialogues
Turkiye is one of the brightest emerging stars of Islamic finance globally – and it is no surprise why. The Republic has all the right ingredients including a Muslim-majority population and strong support from the highest echelons of government.
With President Recep Tayyib Erdogan being a vocal supporter of Islamic finance, participation finance has grown tremendously over the last decade as local authorities put in place enabling policies and infrastructure. Today, Turkiye is home to six Shariah compliant banks, is an active participant in the sovereign and corporate Sukuk markets and is making great progress in the Halal funds sector.
The licensing of fully digital banks last year is likely to tip the scales further in favor of participation finance as three Islamic digital banks are to join the arena and likely to push the country’s Islamic banking sector assets to break the 10% market share threshold by the end of 2024.
How can Turkiye best harness its potential and capitalize on its growth momentum? The industry’s leading minds will share their recommendations and dissect in detail the issues the Republic faces and how to overcome them at the IFN Turkiye Dialogues 2023 in Istanbul.
It has been a great pleasure for us to take part in IFN Turkiye Dialogues. The event was very successful and beneficial for discussing and elaborating on Islamic finance in general with a particular focus on its implementation and expected growth in Turkiye. Panels held during the event, with distinguished individuals representing different actors in the finance market, were very efficient and dynamic platforms for exchanging experiences, thoughts and views on Islamic finance in general, specific products and its implementation in Turkiye.
The IFN Dialogues are a great opportunity to bring together key players in the industry to discuss critical topics for the development of the financial markets and the economy.
The event provided excellent ideas regarding potential opportunities and development areas in Islamic finance for moving forward. It covered the right topics, variety and quality of selected panelists and provided a networking opportunity. I am honored to be part of the event as a speaker and had an opportunity to discuss my views on the growth of the Sukuk market and Islamic capital market instruments and also the necessary steps to be taken in Turkiye.
An Introduction to 2024
In 2023 we returned to a full in-person program, with record numbers at many of our events – a sign of normality returning to the events industry.
For 2024 we have curated a fantastic lineup consisting of our regular leading events, a return to some markets after a short hiatus, and the introduction of two intriguing Islamic investment events.
We run a mixture of Forums and Dialogues throughout the year, depending on what each market responds best to. Essentially, they’re very similar, with only the structure of the discussion being different. For a partner, there’s no difference.
Our focus remains on delivering the best experience possible for delegates, speakers and partners.
What to look out for in 2024:
- Awards Ceremonies: The IFN Awards are the most coveted in the industry and our two Awards Ceremonies in Dubai and Kuala Lumpur continue to gather the elite form the Islamic finance world.
- Investor Forums: New for 2024, these two large-scale Forums in Dubai and Kuala Lumpur coincide with the launch of our new IFN Investor platform and will provide the perfect setting to discuss and debate the rapidly developing global Islamic investment space.
- UK Forum: Europe’s largest, longest running and most influential Islamic finance event will again return to the glorious Mansion House, under the patronage of the Lord Mayor of London. A truly global event, with key focusses on investment flows, sustainable, product development and Fintech.
- Oman Forum: This is the only annual international Islamic finance event in the stunning Sultanate, and one not to miss if Oman is on your radar. Full regulatory support, and all local banks and intermediaries are in attendance.
- Qatar Dialogues: In partnership with the Qatar Financial Centre, we’ll continue the discussion on the development of Islamic finance in the State and its important role in the global markets.
- Asia Forum: Our flagship event, the IFN Asia Forum is the largest Islamic finance focused event anywhere. Covering all markets and sectors in the region, if Asia is in your plans, this event is a must.
- Indonesia Dialogues: Still the world’s largest Muslim population with massive potential, this is the only international Islamic finance event in the island nation. Opportunities are rife and we’re now witnessing seismic changes in the Islamic finance landscape.
- Turkiye Dialogues: Returning to Istanbul with a physical event for the first time since 2019, we’ve been following from afar the phenomenal growth and development of the Islamic finance industry in the Republic. There’s much to discuss and we’d be delighted if you joined us.
- Saudi Arabia: Saudi Arabia remains the world’s largest Islamic finance center and an important market for IFN. This marks our 12th KSA event where we'll be discussing and debating how the Kingdom can build on its dominance and the role Islamic finance will play towards Saudi Vision 2030.
- Bahrain: Rounding off the year again in beautiful Bahrain for the World Islamic Finance Dialogues, we’ll be reviewing the year just past, previewing the year ahead and discussing the global industry at large.
As always, all Forums will be recorded and posted online for all to view, and all events will be complemented by a comprehensive Post Event Review. .
We’re excited for the new year and look forward to welcoming you to our events and assisting in the continued global growth of the Islamic financial markets.
#IFNEVENTS2024
Dialogues Agenda
9.05 – 9.15
Welcome Address
9.15 – 9.30
Keynote Address
9.30 – 9.40
Presentation: The Participation Finance Strategy Document
09.40 – 11.40
Dialogue One: Sustaining the Growth of Participation Banking in Turkiye
- Given the objectives outlined in the Participation Finance Strategy Document for 2022-2025, how should we assess the current participation finance ecosystem?
- How have participation banks performed in Turkiye and what factors continue to influence this performance?
- What is the relationship between legislation and implementation in the participation banking sector in Turkiye?
- The ‘triple transformation’: green transformation, digital transformation, and social transformation – how far have Turkish participation banks come?
- How do we assess the various initiatives undertaken by BDDK, BRSA, CBM and KGK towards the development of sustainable finance in Turkiye?
- What notable milestones have Turkish participation banks achieved in the drive towards transition and sustainability finance?
- Is participation finance a key contributor to the development of sustainable finance in Turkiye and what is the role of regulatory authorities?
- Through financing SMEs, how is the participation banking sector contributing to the broader goal of sustainable development in Turkiye?
- What recent developments has Turkiye seen in the realm of digital participation finance, and how are these influencing the domestic financial landscape?
- What are the key challenges and requirements for the growth of participation finance technology startups, particularly in terms of funding, regulation and human capital?
- How are Turkish participation banks adapting to evolving trends in digital finance and technological innovation, such as open banking?
- How can participation finance be integrated with crowdfunding and peer to peer financing to create new opportunities in terms of sustainability and financial accessibility?
- What opportunities and challenges exist in the Turkish participation finance landscape in the context of Takaful products?
Fatma Cinar, Deputy Secretary General, Participation Banks Association of Türkiye
Hakan Ozyon, CEO, Hejaz Financial Services
Professor Dr M Kabir Hassan, Professor of Finance, Department of Economics and Finance, University of New Orleans
Dr Tarik Akin, Head, The Department of Participation Finance, Finance Office, Presidency of Türkiye
11.40 – 11.50
Presentation: Exploring the Role of Participation Finance in Enhancing Climate Change Resilience
Prof Dr Halil Hasar, Directorate of Climate Change, Ministry of Environment, Urbanization and Climate Change
11.50 – 12.20
Coffee
12.20 – 14.20
Dialogue Two: Gaining Traction – Turkiye’s Shariah Compliant Financial Markets
- How do we assess the sustainability of the growth of the Turkish Shariah compliant capital market in terms of sovereign, quasi-sovereign and corporate issuance?
- Considering Turkiye’s position as a top five Sukuk issuer, what can we anticipate in terms of issuance size and structure in the next 12 months?
- How will interest rates influence domestic and regional Sukuk markets in late 2024 and early 2025, and what opportunities will be on offer for investors?
- What market developments and regulatory enhancements are required to bring more corporate Sukuk issuers to market in Turkiye?
- How should we assess risk in the Turkish Shariah compliant capital market, such as geopolitical events and oil prices?
- Can more be done to supply the local market with high-quality liquid assets, and to what extent would this contribute to building a yield curve unique to Turkish Sukuk issuers?
- What might encourage more thematic Sukuk issuance towards the funding of sustainable, green and social causes, and how can sustainability linked Sukuk further flourish in Turkiye?
- How can principles such as Waqf be further integrated into investment strategies to create a sustainable positive impact?
- What role can be played by Shariah compliant structures in financing long-term green projects in the private sector?
- How is private capital influencing Turkish Islamic financial markets and what approach should regulators take?
- To what extent has the domestic Shariah compliant asset management industry managed to differentiate itself from its conventional peer?
- Will Turkiye see significant diversification of asset classes in coming years, or indeed, the addition of new asset classes? If so, what form will this take?
14.20
Luncheon
Dialogues Speakers
Fatma Cinar
Deputy Secretary General, Participation Banks Association of TürkiyeFatma Çınar works as a Deputy Secretary General at Participation Banks Association of Türkiye (TKBB) since May 2024. She conducted Director role at TKBB between November 2022 and May 2024. She worked as an Islamic Finance Portfolio Lead at UNDP Istanbul International Center for Private Sector in Development (IICPSD) in between February 2022 to September 2023. Prior to joining to UNDP, she worked as a Manager of International Relations and Corporate Communications Departments at Participation Banks Association of Türkiye (TKBB) between August 2020- January 2022. Previously she worked as the Head of International Banking Department of an Islamic Bank (Kuveyt Turk) in Türkiye more than 13 years. As an active practitioner, she has deep and wide expertise in Islamic Banking, International Relations, Correspondent Banking, Foreign Trade, Sustainability, Social Finance, Impact Investing, Investment Banking, Cash Management, Clearing Services, Structured Finance, Trade Finance, Project Management, Country and Counterparty Limit Management, Business Strategy, and Corporate Communication. She is at the advisory board of Marmara University Islamic Economics and Finance (MUISEF). She is also member at AAOIFI Communication Committee She acted as global mentor for Start-Up and Fintech institutions at selected projects and programs. She writes regularly on Islamic finance as a Türkiye correspondent for Islamic Finance News publication and also she is author at Etkiyap which is dedicated to improve impact investing ecosystem. She provides lectures at universities and international summer schools. She has been also a trainer at Participation Banks Association of Türkiye on Islamic Finance. Çınar graduated from Istanbul University with a degree in Business Administration and Industrial Engineering in 2005 and 2006. She is married and has a daughter.
Hakan Ozyon
CEO, Hejaz Financial ServicesHakan Ozyon is a seasoned business expert known for leading innovative strategies and nurturing talent. His dedication to excellence has enabled him to optimize all aspects of business management. He is adept at unlocking potential, promoting growth and increasing revenue. Hakan has deep ties in both the Islamic and broader Australian communities, enhancing business operations and setting corporate goals. With over 30 years of experience in business, he is a strategic visionary with a knack for building relationships, particularly in competitive areas. His role as CEO involves setting strategic paths and forming financial alliances. Notably, he has spent a decade transforming visions into pioneering Islamic financial services. He is respected globally for his business acumen.
Prof Dr Halil Hasar
Directorate of Climate Change, Ministry of Environment, Urbanization and Climate Change
Professor Dr M Kabir Hassan
Professor of Finance, Department of Economics and Finance, University of New OrleansProfessor Dr M Kabir Hassan is the professor of finance in the Department of Economics and Finance in the University of New Orleans in the US. He received his Bachelor of Arts degree in economics and mathematics from Gustavus Adolphus College, Minnesota in the US, and a Master of Arts degree in economics and a PhD in finance from the University of Nebraska-Lincoln, also in the US.
Professor Kabir is a financial economist with consulting, research and teaching experience in development finance, money and capital markets, Islamic finance, corporate finance, investments, monetary economics, macroeconomics, Islamic banking and finance and international trade and finance. He has done consulting work for some renowned entities including, among others, the World Bank, the IMF and the IsDB and many private organizations. He was also elected a board member of the Ethics and Governance Committee and Education Board of AAOIFI.
Dr Tarik Akin
Head, The Department of Participation Finance, Finance Office, Presidency of TürkiyeTarik Akin (PhD.) is the Head of the Department of Participation Finance at Finance Office of the Presidency of the Republic of Turkey. Previously, Tarik Akin worked at the Undersecretariat of Treasury, Islamic Financial Services Board (IFSB), World Bank, UNDP, Silatech-Qatar, and Center for International Development (CID) at Harvard University. He was SC–OCIS Visiting Fellow in Islamic Finance at University of Oxford for the academic year 2019-2020. He earned his bachelor’s degree in economics from Bilkent University, master’s degree from Harvard University and PhD. degree from INCEIF. His main areas of expertise include Islamic finance, capital markets, macro-financial linkages, and redistribution policies.
Advisory Board
Burak Gencoglu
Partner, Gençoğlu & Ergün Law FirmBurak Gencoglu has over 10 years of experience in mergers and acquisitions (M&A), capital markets, banking and project finance transactions.
Burak earned a Bachelor of Law (Honors) degree from Marmara University in Istanbul and holds a Master of Law degree from King’s College London where he majored in ınternational business law. After completing his postgraduate studies in the UK, he pursued his professional career in Turkey and worked for a Legal 500 listed law firm and as a senior attorney at the legal department of PwC in Istanbul. He has represented clients in diverse sectors including finance, energy, pharmaceuticals, construction, insurance, media and telecommunications. He is the co-founder of Gencoglu & Ergun Law Firm where he provides a wide range of legal services to his clients in Turkish and international law matters including banking and finance, data privacy, commercial and corporate law and M&A.
Burak has been a team member of a number of major projects during his career and he is currently providing a full range of legal and consultancy services to his local and international, corporate and individual clients in the various areas of law.
Burak’s articles and legal opinions have been published in law journals, in addition to regular interviews and articles in the press. He regularly contributes articles and reports in Islamic Finance news as the M&A sector correspondent.
Esma Karabulut
Director of Investment Banking & Investor Relations, Türkiye Emlak Katılım BankasıFatma Cinar
Deputy Secretary General, Participation Banks Association of TürkiyeFatma Çınar works as a Deputy Secretary General at Participation Banks Association of Türkiye (TKBB) since May 2024. She conducted Director role at TKBB between November 2022 and May 2024. She worked as an Islamic Finance Portfolio Lead at UNDP Istanbul International Center for Private Sector in Development (IICPSD) in between February 2022 to September 2023. Prior to joining to UNDP, she worked as a Manager of International Relations and Corporate Communications Departments at Participation Banks Association of Türkiye (TKBB) between August 2020- January 2022. Previously she worked as the Head of International Banking Department of an Islamic Bank (Kuveyt Turk) in Türkiye more than 13 years. As an active practitioner, she has deep and wide expertise in Islamic Banking, International Relations, Correspondent Banking, Foreign Trade, Sustainability, Social Finance, Impact Investing, Investment Banking, Cash Management, Clearing Services, Structured Finance, Trade Finance, Project Management, Country and Counterparty Limit Management, Business Strategy, and Corporate Communication. She is at the advisory board of Marmara University Islamic Economics and Finance (MUISEF). She is also member at AAOIFI Communication Committee She acted as global mentor for Start-Up and Fintech institutions at selected projects and programs. She writes regularly on Islamic finance as a Türkiye correspondent for Islamic Finance News publication and also she is author at Etkiyap which is dedicated to improve impact investing ecosystem. She provides lectures at universities and international summer schools. She has been also a trainer at Participation Banks Association of Türkiye on Islamic Finance. Çınar graduated from Istanbul University with a degree in Business Administration and Industrial Engineering in 2005 and 2006. She is married and has a daughter.
Dr Kamola Bayram
Assistant Professor, KTO Karatay UniversityDr Kamola Bayram is an assistant professor in the Department of Islamic Economics and Finance at KTO Karatay University, Turkey.
Previously, she served as an assistant professor at the IIUM Institute of Islamic Banking and Finance and as the project director at the International Council of Islamic Finance Educators (ICIFE). She has conducted a number of training programs in Islamic finance in Malaysia, Indonesia and the Philippines and was an editor of the quarterly ICIFE Bulletin.
Dr Kamola has served as a research fellow at the IFSB where she was involved in the development of the Stress Testing Framework for Islamic Banks. She has written articles and chapters on Islamic social finance, Islamic capital market, wealth management, behavioral finance and portfolio allocation. She teaches subjects such as Islamic economics, Islamic finance, taxation for Islamic financial institutions, Islamic capital markets and behavioral finance.
Dr Kamola is the education sector correspondent in Islamic Finance news and an editor of the Turkish Journal of Islamic Economics. She was 40th in the WOMANi 2019 list for her excellent advocacy work for Islamic banking and finance.
Professor Dr M Kabir Hassan
Professor of Finance, Department of Economics and Finance, University of New OrleansProfessor Dr M Kabir Hassan is the professor of finance in the Department of Economics and Finance in the University of New Orleans in the US. He received his Bachelor of Arts degree in economics and mathematics from Gustavus Adolphus College, Minnesota in the US, and a Master of Arts degree in economics and a PhD in finance from the University of Nebraska-Lincoln, also in the US.
Professor Kabir is a financial economist with consulting, research and teaching experience in development finance, money and capital markets, Islamic finance, corporate finance, investments, monetary economics, macroeconomics, Islamic banking and finance and international trade and finance. He has done consulting work for some renowned entities including, among others, the World Bank, the IMF and the IsDB and many private organizations. He was also elected a board member of the Ethics and Governance Committee and Education Board of AAOIFI.
Dr Necmettin Kizilkaya
Professor and head of department, Istanbul University
Dr Saygın Sungur
Chief Financial Officer, Katılım Finans Kefalet A.Ş.He was born in Istanbul in 1981. He graduated from Yeditepe University, Department of Business Administration in 2003. After carrying out academic studies on “European Union Monetary Policy” at Leiden University in the Netherlands as a European Union Jean Monnet Scholar, he completed his PhD in Finance at Yeditepe University.
Between 2006 and 2012, he worked on Deposit Analytics, Investment Banking and Capital Markets Product Management in institutions such as Eurobank Tekfen and Akbank. Sungur, who continued his career at Türkiye Finans Katılım Bankası between 2012 and 2021, served as Fund Collection and Investment Products Vice President between 2018 and 2021. In 2021, he was appointed as Banking Services Coordinator to the Participation Banks Association of Türkiye. Saygın Sungur also continues to lecture on Financial Markets as a part-time lecturer at Marmara University Institute of Islamic Economics.
As of April 2023, he was appointed as the Deputy General Manager responsible for Finance, Administrative Affairs and Human Resources at Katılım Finans Kefalet A.Ş.
Seçil Yıldız
Executive Vice President / Investment Banking, Project Evaluation, Sustainability and Corporate Communications, Kalkinma Yatirim BankasiAfter graduating from the Department of Business Administration of Bogazici University, Secil Yildiz began her career at the Industrial Development Bank of Turkey in 1998. She held various managerial positions at Bayerische Hypo-und Vereinsbank, UniCredit Invesment Securities and ING Bank where she assumed a wide variety of investment banking roles. Secil joined the Development and Investment Bank of Turkiye in 2019 as the executive vice-president and is responsible for ınvestment banking, project evaluation, corporate communications and sustainability and environmental and social impact management. She is the chair of several development asset leasing companies and a board member of Turkey Securitization Company and Development Venture Capital Portfolio Management Company.
Dr Tawfik Azrak
Assistant Professor, Social Sciences University of Ankara (ASBU)Dr Azrak is an experienced and accomplished professional with over 10 years of experience in Islamic Banking and finance. He currently serves as an Assistant Professor at the Social Science University of Ankara, Turkey.
Dr Azrak’s expertise in Islamic finance has enabled him to supervise numerous MSc and PhD students in various universities on topics related to the field.
Dr Azrak’s contributions to Islamic finance and auditing studies have been extensive, with over 50 published research papers in prestigious journals such as SCOPUS and ISI. His work has had a significant impact on the field, addressing a range of issues related to banking, accounting and finance.
Throughout his career, Dr Azrak has held various positions in international institutions and universities in Turkey, Syria, Malaysia, Lebanon and Kuwait.
Dialogues Partners
LEAD PARTNER
BTD-International Fund House
BTD-International Fund House, headquartered in Turkiye, operates as a financial holding company with subsidiaries spanning Europe, the Middle East and Asia. It specializes in providing tailored financing solutions for projects ranging from small-scale to large-scale worldwide. Additionally, BTD offers investment and business capital through managed funds and Sukuk issuance. With a diverse investment portfolio encompassing sectors like education, manufacturing, commodity trading, infrastructure, agriculture, tourism and hospitality, BTD maintains a global presence. As a testament to its industry involvement, BTD is affiliated with organizations like the International Securities Lending Association, Luxembourg Private Equity & Venture Capital Association and Association of The Luxembourg Fund Industry. With 25 years of experience, BTD has established robust investment processes and rigorous risk management practices, solidifying its position as a well-established entity in the financial landscape.
STRATEGIC PARTNER
Participation Banks Association of Türkiye
The Participation Banks Association of Turkiye, or Turkiye Katilim Bankalari Birligi (TKBB), is a professional public institution established by the relevant provision of the Republic’s Banking Law. The organization is the main representative of the Turkish participation banking sector and works with the government, regulators and other stakeholders to increase public awareness and understanding of the contribution the sector makes to the economy of Turkiye.
The TKBB has a range of working committees to support member banks’ priority issues and to conduct extensive training programmes. Its objectives are:
- To defend the rights and interests of participation banks within the framework of a free market economy and the principle of full competition in accordance with banking regulations, principles and rules;
- To work toward the healthy growth of the banking system, the development of the banking profession and the improvement of competitive power;
- To ensure that necessary decisions are taken and implemented for the creation of a competitive environment.
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
IsDB Group Business Forum (THIQAH)
The Islamic Development Bank Group Business Forum (THIQAH) is the window of the IsDB Group that facilitates contact and coordination between entities concerned of the IsDB Group and private sector firms and related institutions in IsDB Group member countries. The main objective of THIQAH is to establish a unique platform for effective dialogue, cooperation and inclusive partnership for business leaders committed to partnering in promising investment opportunities. Through facilitation and catalyst roles, THIQAH will be leveraging the IsDB Group’s resources to offer necessary services and confidence to investors and to establish strategic partnerships with the leaders of the private sector. The primary focus will be on maximizing cross-border investment among member countries to be supported by IsDB Group’s financial products and services. (www.idbgbf.org)
PARTNERS
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. Spearheading the evolution of the global Islamic finance industry, DIB is also the world’s first full service Islamic bank and among the largest Islamic banks in the world. With group assets almost reaching US$90 billion and a market capitalization of nearly US$9 billion, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over five million customers across the group, DIB offers an increasing range of innovative Shariah compliant products and services to retail, corporate and institutional clients.
The bank’s ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as corporate social responsibility and consultancy services.
Hejaz
Hejaz is a leading financial institution that delivers a broad range of Islamic financial services across investment management, superannuation services, financial advice and lending to a large and diversified client base that includes corporations, financial institutions and individuals.
Founded in 2014, the firm is headquartered in Melbourne, Australia and maintains a presence all around 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.
Malaysian Takaful Association
The Malaysian Takaful Association (MTA), a trade association representing Malaysia’s 18 licensed Takaful and re-Takaful operators, is a key driver in spearheading the transformations and strategies identified by the industry to achieve the desired future Takaful landscape and create value for the industry, society and country. Operating in line with the principles of Maqasid Shariah in every aspect of its conduct, the strategic objectives of MTA’s Reform Plan 2022–2023 (Islah23) focus on the areas of visibility, good governance, operational efficiency and organizational sustainability. Being the voice of the industry in forwarding the country’s Takaful agenda in the local, regional and international arenas, MTA works closely with Bank Negara Malaysia and the Ministry of Finance, and interacts with government agencies, local authorities, general public and the media. MTA was established under the Societies Act 1966 in November 2002.
For more information, please visit www.takaful4all.org or follow us @MalaysianTakafulAssociation on Facebook and Instagram.
STANDARDS AND KNOWLEDGE PARTNER
LEAD MEDIA PARTNERS
Islamic Finance news
Islamic Finance news (IFN) is the company’s principal publication. IFN is a digital, subscription-based publication available online and through smartphone and tablet applications. Published weekly, the journal provides exclusive and comprehensive coverage of the global Islamic financial markets through in-house analysis and expert external contributions; in addition to a daily news service, additional quarterly supplements and a variety of special annual issues.
Differentiated by trusted relationships across the industry since 2004, IFN is able to leverage an unrivalled network of contacts and connections to provide unparalleled insight into the issues affecting global Shariah compliant markets: along with in-house analysis, news, interviews, reports, industry and sector data, and much more.
With an archived website containing over 80,000 exclusive reports, the IFN portfolio also hosts a suite of proprietary tools including the industry’s largest interactive terminology glossary, a directory of over 9,000 global Islamic financial institutions and a portal to Islamic Banking Intelligence, the most comprehensive source of segmented Islamic banking financial data.
IFN Fintech
Fintech is one of the most exciting sectors of the global financial industry, breaking boundaries and challenging preconceptions in one of the shake-ups of the century. A new class of financial players is disrupting the status quo – and financial institutions must embrace this change or face being left behind as the financial landscape transforms beyond recognition.
But although fintech as a whole has been well-served by the media, the Islamic segment has so far made limited penetration on public consciousness – despite the enormous potential it represents for the industry. There is a clear chasm between the multitude of pioneering entrepreneurs, start-ups and fintech firms making waves in the Islamic space; and the interested investors, institutions and stakeholders keen to explore these opportunities.
Recognizing this information gap, IFN is delighted to introduce to you a bespoke multi-channel platform – IFN FinTech.
Comprised of four tranches, IFN FinTech is a one-stop-shop for industry knowledge, networking and communication – supported by our unrivaled global network, our strong social media platform and our trusted multimedia Islamic finance offering.
IFN Sustainable
IFN Sustainable, comprises a dedicated portal, weekly news alert, audio and video podcasts, interviews, data, exclusive reports, case studies, research, virtual roundtables, and hybrid forums. With a focus on the latest news and developments, IFN Sustainable is also be a pivotal platform for thought leadership and the launch of new products and services within the industry. IFN Sustainable also partners with some of the leading organizations associated with the Islamic and sustainable finance industry, providing holistic coverage.
IFN Investor
The Islamic investment industry is a fastgrowing and dynamic sector within the Islamic finance space, with a ballooning pool of assets under management, reflecting a rapidly increasing demand for Islamic investment products.
Yet this increased demand has not been matched by increased activity in the media space.
And, although IFN has been reporting on the Islamic investment market for almost 20-years, we noticed we could do more and decided to rectify this imbalance.
After extensive research and surveying of the global Islamic investor industry on what they would like to see, we have designed and built a one stop portal for all those involved or interested in the local, regional, and global Shariah compliant investment market.
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In The News
IFN Monthly Review: August – Welcoming new Islamic banking units
Some notable announcements in the global Islamic banking landscape this past month include the launch of Maybank Philippines’ new Shariah...
Dubai Islamic Bank enters Turkiye’s digital banking and fintech scene with latest investment
Dubai Islamic Bank (DIB) has entered the Turkish digital banking and fintech sector with its investment in Technology…
Sovereign Securities: Turkiye partners with UAE entity to issue Sukuk
The Turkish government partnered with a UAE entity to issue Sukuk for the purpose of reconstructing areas in Turkiye…
Turkish Islamic bank becomes first international bank in Somalia in over five decades
Ziraat Katilim Bank, one of Turkiye’s participation banks, officially launched its branch in Mogadishu, Somalia…
The Previous IFN Turkiye Event
IFN Turkiye OnAir Roadshow 2022
Turkiye, a vital market for participation finance (Islamic finance), had made plans to introduce new regulations for interest-free finance systems. The country had established three state participation lenders and attached great importance to non-interest finance solutions.
There were 53 banks in Turkiye, out of which six were fully-fledged participation banks, listed with the BRSA. One influential international rating agency believed that the share of participation banking assets in Turkiye was set to at least double over the next five years, helped once more by a supportive environment and expanding distribution network. Since our last visit, Turkiye had issued its debut green Sukuk facility, through state-owned Turkiye Emlak Katilim Bankasi. We had also witnessed the mooting of a mega participation bank, set up to address the financing needs and requirements of Shariah financial institutions and infrastructure projects alike. More recently during an official visit by the Malaysian Prime Minister to Turkiye to meet his counterpart and discuss bilateral cooperation, the two entities had signed an agreement to establish Turkiye’s first Islamic digital bank.
About REDmoney Events
REDmoney events designs, organizes and hosts industry-leading conferences, forums, roadshows, seminars and dialogues focusing on the Islamic financial markets across a global, regional and national level. Leveraging an exceptional network of the industry’s elite and supported by the expertise of the REDmoney publishing and seminars divisions, REDmoney Events are able to provide access to a unique array of influential speakers, panelists and participants from a cross-section of the global industry to debate the most significant issues affecting the Shariah compliant financial markets.
REDmoney events are differentiated by their complimentary yet qualified attendance structure, ensuring the highest quality of both delegates and contributors. Comprehensive and cuttingedge, attendance ensures exclusive access to the leaders in their field across all sectors and markets.
The annual IFN Asia and IFN UK Forums are categorically recognized as their continent’s leading industry events since their inception in 2006 and 2007, respectively. The Dialogues series have also become an integral element of the REDmoney events series and have cemented their position as leading, must-attend, events.
In 2024, we welcome the IFN Investor Forums, which coincide with the new IFN Investor portal.
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Our team will be glad to answer any questions you may have about this event.