Date: 21st October 2019

Day: Monday

Time: 09:00 - 13:00

Venue: Washington DC

About The Dialogue

Following its highly successful debut in 2016, REDmoney is pleased to announce its second Sovereign Sukuk Dialogue taking place on the 21st October 2019 in Washington DC

The last Sovereign Sukuk Dialogue clearly revealed a strong push toward sovereign issuances particularly in non-traditional markets. Be it for infrastructure spending or to advance Islamic finance ambitions, an increasing number of debt management offices (DMOs) are looking seriously at the prospect of raising capital via Sukuk.

Objective

Held alongside the IMF World Bank meetings, this highly acclaimed dialogue will once again provide an avenue to exchange views and gather feedback on sovereign participation in the Sukuk market and raise public debt via Sukuk issuance. The dialogue is meant to drive in-depth discussions and provide an issuer’s roadmap which will ultimately lead to concrete solutions for potential sovereign issuers.

Who should attend and Why?

The Sovereign Sukuk Dialogue is timed to coincide with the IMF World Bank annual meetings and will be attended by senior debt management officials and finance ministers from countries considering issuing Shariah compliant paper attending the IMF World Bank meetings.

This is the only event of its kind to address specific issues and challenges faced by DMOs when embarking on an issuance. New issuers find the dialogue to be enormously useful in its depth and coverage and welcome the opportunity to meet and engage with senior practitioners with in-depth sovereign Sukuk expertise. It affords DMO officials contemplating an issuance the crucial opportunity to provide scenarios, solicit honest feedback and ask tough questions in a closed setting without media scrutiny.

The dialogue is a rare opportunity to discuss, debate, analyze and examine issues affecting sovereign issuers. It is a unique platform to share concerns with those in the room and an ideal setting to discuss potential collaboration. No other forum or formal meeting comes close to meeting the needs of DMOs or providing such an avenue for in-depth and candid discussions.

Attendance to the dialogue is by invitation only and exclusive to potential sovereign Sukuk issuers.

A Refined Focus for 2019

  • Tailor-made exclusively for new and potential issuers taking initial steps in drafting regulations enabling a sovereign issuance
  • Increased networking opportunities built in during the event
  • The opportunity to set up one-to-one meetings on the sidelines
  • In conjunction with the IFN Americas Forum, to run in the same venue, after lunch

Dialogue Structure

The dialogue adopts a Chatham House format designed to increase the openness of the discussion. Anyone who attends the dialogue is free to use the information from the discussion but is not allowed to reveal or attribute comments made.

The dialogue format provides for a free-flowing discussion within the parameters of a pre-agreed agenda. Much of the work is done in the planning stage of the dialogue to ensure that the four hours spent at the dialogue is maximized.

Three weeks before the dialogue, feedback and specific questions from each DMO official are compiled. A draft agenda is then formulated based on this feedback and circulated to participating service providers for their further input. REDmoney will then facilitate a conference call between all service providers to set the scene and provide sponsors the opportunity to deliberate the flow of discussion, key discussion points and content of their respective presentations.

A pre-dialogue meeting will also be held on site for sponsors a day prior to go through final briefing points.

Feedback on Past Dialogues

“The 2016 edition was incredibly well received by potential sovereign issuers. Being already well versed with the mechanics of a conventional bond issuance, they wanted an agenda that focused exclusively on crucial need-to-know information on issuing sovereign Sukuk. They found it very rewarding to share common concerns with other new issuers and did not find it as relevant to engage with past and regular issuers – which is why this year’s dialogue is exclusively for potential issuers. Informal sideline conversations were found to be just as useful as the formal discussions.”

“The October 2016 IFN Sovereign Sukuk Dialogue was a most beneficial interaction forum. The assemblage of parties who play roles at different stages of the transaction chain (issuers, bankers, lawyers, etc) on the one hand, and of countries at different levels of experience in the issuance, was, in my view, greatly useful. As my country, Nigeria, is preparing to debut [in] the market with a domestic Sukuk issuance in 2017, I gained useful knowledge. I also imagined that my contributions based on Nigeria’s robust non-Sukuk sovereign bond market were found useful by other participants.”

“The Quality of the session was very productive. Participation of serious, senior stakeholders helped and the direction and moderation were focused. What I like is it was an honest, candid discussion that concluded with a tangible call for action.”

“These events are crucial to the growth and development of the industry. Where would we be without IFN? Over the years, it has played a pivotal role in bringing stakeholders together – long may it continue.”

“The IFN team put together a high-profile event and program with speakers and participants from across the Islamic finance industry. Stimulating, interactive and above all, networking par excellence.”

IFN Americas Forum 2019

Returning to the US for the fourth time, IFN Americas Forum 2019 will offer practitioners a unique chance to discover, discuss and dissect the opportunities for Islamic finance across some of the world’s most populous and influential countries.

Expanding for the first time in 2019 to incorporate the exciting prospects across Latin and South America as well as the US, the forum will host regulators, practitioners, investors and other interested parties to explore the newest developments across both continents.

Building on the success of previous years, and leveraging the business-friendly atmosphere of the new administration, the US has a flourishing Islamic investment sector offering an attractive location for Shariah compliant funds seeking a safe haven from domestic geopolitical risk. Despite the recent political turbulence, substantial opportunities still exist in the US for Islamic finance: especially in the real estate and asset management sectors and also embracing new potential developments including a possible Islamic bond issuance from the State of New York, a burgeoning market for Shariah compliant mortgages and a growing interest in retail Islamic banking services. On the flip side, a growing number of US investors are interested in Sukuk issuance from the Middle East, while US-based companies such as Wahed Invest, HalalSky and Guidance Residential are making waves in the pioneering space of Shariah compliant fintech solutions.

And it is not just the US that is offering new interest for the Islamic finance industry. South America has been quietly simmering away for some time now, and for 2019 IFN has taken the exciting decision to expand its Americas Forum to include the Southern and Latin American countries. One of the world’s biggest Halal meat exporters, Brazil in particular offers rich pickings for Islamic institutions – with numerous banks already offering Islamic financial products in the country (including Bank Nizwa, Bank of Tokyo-Mitsubishi UFJ and First Abu Dhabi Bank (FADB, formerly operating as National Bank of Abu Dhabi)) as well as strong trade relationships with OIC countries including Saudi Arabia, the UAE and Indonesia. The IDB is also active in the region, as is the Islamic Corporation for the Development of the Private Sector; and new IDB member countries Suriname and Guyana have also recently come to the fore – with the conversion of Suriname’s Trust Bank in 2016 to fully-fledged Islamic status underlining the opportunities in the region. A tripartite financing between the IDB, the Malaysian government and the Suriname government to stimulate rice production in 2016 also created a blueprint for further investment.

IFN Americas Forum 2019 will offer delegates exclusive access and insight into all these developments and more, exploring the lucrative opportunities inherent in the US and South American markets and encouraging both inward investment and external fund flows. An ideal networking opportunity, the forum will bring together key industry players, practitioners, asset managers and intermediaries for another innovative exploration of the Shariah compliant landscape.

Full Details

Testimonials

As Islamic banking continues its expansion into mainstream US finance, it is important that Islamic business leaders come together and engage in meaningful dialogue to learn from each other’s experience. The IFN team facilitated first-class event where delegates and panelists were able to share new methods, examine case studies and build fellowship. It was truly a pleasure to participate in the IFN US Forum and I look forward to future involvement.

Sharif El-Gamal
Chairman and CEO, Soho Properties

I really enjoyed attending the IFN US Forum 2016; a lot of important topics affecting Islamic finance were covered comprehensively by a select group of seasoned panelists. Looking forward to attending the next one.

Nasr El Hage
Co-Founder and Managing Director, Ritz Banc Group

Being a part of the IFN US Forum as both a panel participant and an attendee was incredibly insightful and valuable. The collective knowledge, experience and expertise of the attendees and speakers offered a meaningful opportunity to learn not only about current trends but timely insights on best practices and lessons learned. I look forward to the next upcoming conference.

Patrick T Drum
Research Analyst & Portfolio Manager, Saturna Capital

Good conference and quite impressive. I had to run and attended for a short time. Well done!

Sanjay Arora
Managing Director, Fixed Income Capital Markets, Raymond James

For any inquiries contact us

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