About The Dialogues
One of the most respected Islamic finance leaders in the world, Bahrain is widely recognized for its pioneering role in deepening Islamic finance knowledge capital for the industry as well as it continuous influence in promoting innovation.
Home to some of the most consequential global Islamic standard-setting bodies – AAOIFI, International Islamic Financial Market and the General Council for Islamic Banks and Financial Institutions – Bahrain in recent years has taken the lead to spearhead developments in Islamic fintech and digital transformations. It was one of the first in the region to regulate digital investment management, crowdfunding and cryptocurrencies while taking into consideration the unique requirements of Shariah. It has also graduated several Islamic fintech companies from its regulatory sandbox. Amid the digital wave, the Kingdom has also taken significant steps toward promoting ESG and Islamic finance.
WHAT THEY SAID
This prestigious event carried out interesting discussions on the Islamic finance landscape in Saudi Arabia and provided business networking opportunities for industry stakeholders. The analytical insights shared by the panelists into the development, growth and challenges of its constituent sectors, including Islamic banking, Islamic capital markets, Waqf and Islamic fintech are thought-provoking. I congratulate the organizers for successfully hosting this event in the globally largest Islamic finance industry by asset size.
We enjoyed participation from lawyers, bankers, regulators and clients at IFN Dialogue Riyadh. The quality was impressive, thanks to the good reputation and skills of the organizers. Over time, these events make a difference; our industry adapts and changes because our professional community stays more coherent because of these events.
IFN has done it again. Getting together Islamic finance influencers to assure the free flow of ideas and information. This is how innovations in our field are born. Bringing in the financiers from GCC, Europe and Southeast Asia is a great recipe for the effective distribution of intellectual products. Kudos to the organizers for a perfectly assembled event
IFN Dialogues – An introduction
Since REDmoney events’s inception in 2006, we have always been at the cutting edge, delivering timely events in a format suited best to each market and sector.
IFN Dialogues were first introduced in Luxembourg in 2014. Since then, we have developed the concept and are delighted to bring this format to the more mature and developed markets, which prefer in-depth discussion and debate over the more traditional forum format.
IFN Dialogues offer an independent and impartial platform for the identification and resolution of specific issues, challenges and opportunities facing the industry through a high-level discussion designed to determine the potential development of a particular country, sector or asset class.
IFN Dialogues are all about the high-level discussions among the extended expert panel, which is why they are seated around a table facing each other.
With the carefully curated discussion points, the aim is to cover as much as possible in the two hours allotted.
Each Dialogue begins with an introduction, reviewing what has changed since the last event, the current state of the market and key areas of interest, bringing everyone up to speed.
For each Dialogue, an advisory board comprising industry-leading practitioners and regulators is assembled to offer advice on content, speakers, flow and format.
Dialogue panelists are then invited to contribute toward the final program, ensuring we cover the most pertinent topics.
Chatham House Rules
To ensure openness among panelists, IFN Dialogues are run strictly under Chatham House Rules, meaning no video recordings, no media presence and no attribution in the Post-Event Report.
Considering the program, a diverse expert panel is built, including industry regulators and associations, ensuring a truly holistic discussion.
Senior industry participants are invited to observe the Dialogues, on the condition they register first and meet our strict attendance criteria. There is no fee to attend.
With a carefully curated discussion program; an expert panel in place to identify, discuss and resolve specific issues facing the industry; and limited time, we do not have time for audience participation.
Those attending can post questions when registering, complete a question card during the Dialogue, or seek time with the panelists during one of the networking sessions during the day.
Each IFN Dialogue will be complemented by an exclusive follow-up Post-Event Report, published in conjunction with all supporting partners and distributed to the global IFN database, ensuring event partners reach not just those in attendance, but tens of thousands around the world.
However, with Chatham House rules in place, no comments or quotes will be attributed.
9.15 – 9.20
9.20 – 9.30
Khalid Hamad Al-Hamad, Executive Director – Banking Supervision, Central Bank of Bahrain
9.30 – 11.30
Dialogue One: Building Momentum through the Growth of Islamic Financial Markets
- What are the notable achievements and milestones of Shariah compliant financial and capital markets over the past year?
- How do regulatory environments influence the growth and development of the Islamic markets?
- Could amendments be made to market regulations, or could more be done by regulators? If so, what form would this evolution take?
- Developing the Islamic capital market: increasing market depth and liquidity, driving product innovation, and widening the investor base.
- Funding routes for corporates: Islamic capital markets versus bank funding.
- Ongoing innovation within Islamic finance markets: the scope for hybrid, perpetual, restructuring and syndicated transactions.
- How can Shariah compliant structures be further applied to the funding of clean energy projects and infrastructure?
- In the shift away from hydrocarbons, how can Islamic financial markets play a role?
- How can Shariah compliant transition, sustainable and sustainability linked finance and investment products be further incorporated?
- How do we continue to measure impact from green and sustainable issuance? What tools are available for issuers and investors for this purpose?
- What regulatory measures would adequately address and mitigate challenges such as greenwashing and reporting?
- Assessing the increasing influence of Waqf in fund and capital market structures.
- The growing prominence of Islamic P2P and equity crowdfunding, and the opportunities these activities offer.
Bilal Kahlon, Partner, Trowers & Hamlins
Elina Mohamed, Group General Counsel, Bapco Energies
Ijlal Ahmed Alvi, CEO, International Islamic Financial Market
Mughees Shaukat, Senior Manager, AAOIFI
Dr Rizwan Malik, Head, Islamic Finance Centre, Bahrain Institute of Banking & Finance
Sabir Ahmed, Executive Director, Islamic Origination, Standard Chartered Bank
11.30 – 12.00
12.00 – 14.00
Dialogue Two: Reaching New Heights - Innovation, Transformation and Digitalization of Islamic Financial Services
- What are notable milestones and key developments within Islamic banking over the past year, and what is the current outlook for the sector?
- How do prudential regulatory environments allow for the growth of Islamic banking?
- Could amendments be made to banking regulations, or could more be done by regulators? If so, what form would this evolution take?
- Do Tier-1 and Tier-2 Sukuk still offer Islamic financial institutions the most flexible and efficient way of satisfying regulatory capital requirements?
- Do we feel the same about AT1 issuances as we did before?
- What other funding options are open to Islamic financial institutions, and what liquidity management tools are available?
- The digitalization of Islamic financial services: what is working, what is not, and what this means for the evolution and transformation of Islamic financial services.
- Does the digitalization of Islamic financial services allow us to better address issues such as sustainability and product authenticity, and we are leveraging on this sufficiently?
- Are we sufficiently capitalizing on the powerful synergies between sustainable finance and Islamic banking, and how do we effectively position the sector?
- Is it feasible to require Islamic banks to incorporate ESG frameworks as part of a wider Islamic banking philosophy?
- How can Islamic banking be further applied to social impact initiatives through the advancement of education, housing, health, culture and well-being?
- Are Islamic financial institutions doing enough in the development of sustainable retail, corporate and commercial products?
- How do we continue to increase the market penetration of Takaful products?
Dr Gulnar Mulla, Head of the Finance Department, University of Technology, Bahrain
Hakan Ozyon, CEO, Hejaz Financial Services
Luma Saqqaf, CEO, Ajyal Sustainability Consulting
Khalid Hamad Al-HamadExecutive Director - Banking Supervision, Central Bank of Bahrain
Bilal KahlonPartner &Head of Finance - Saudi Arabia, Trowers & Hamlins
Elina MohamedGroup General Counsel, Bapco Energies
Dr Gulnar MullaHead of the Finance Department, University of Technology, Bahrain
Hakan OzyonCEO, Hejaz Financial Services
Ijlal AlviCEO, International Islamic Financial Market
Luma SaqqafCEO, Ajyal Sustainability Consulting
Mughees ShaukatSenior Manager, AAOIFI
Dr Rizwan MalikHead, Islamic Finance Centre, Bahrain Institute of Banking & Finance
Sabir AhmedExecutive Director Islamic Origination, Standard Chartered Bank
Al Sayed Jaffer MohammedPartner and CEO, Hassan Radhi and Associates.
Gregory ManPartner - Global Head of Islamic Finance, BIRD & BIRD
Dr Gulnar MullaHead of the Finance Department, University of Technology, Bahrain
Ijlal AlviCEO, International Islamic Financial Market
Lilian Le FalherExecutive Manager, Head of Treasury and Capital Markets, Kuwait Finance House (Bahrain)
Magdy EissaVice-President, Business Development, IdealRatings
Sabeen SaleemCEO, Islamic International Rating Agency
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The Previous World Islamic Finance Dialogues
World Islamic Finance Dialogues 2022
Islamic finance is deeply rooted in the Middle East, a region that continues to shape the modern Islamic finance industry globally. Commanding the lion’s share of global Islamic banking and finance assets and wielding enormous influence in the industry, the Middle East has always been an integral part of IFN.
Covering the region since 2004 and organizing industry-leading events in the Middle East since 2008, IFN returns to the region in 2022 with a series of high-level, closed-door, unique events combining its globally recognized gatherings with the much sought-after and acclaimed Dialogues.
Taking on a new design and following the hugely successful IFN Thought Leadership Dialogues in Dubai and the IFN KSA Dialogues in Riyadh, both in June 2022, both of which received overwhelmingly positive feedback from speakers and delegates, we now bring you the World Islamic Finance Dialogues.
- The World Islamic Finance Dialogues will feature three 2-hour exclusive and intriguing discussions among some of the industry's leading luminaries. The core themes in focus will be:
- Global Islamic Capital Markets, Infrastructure Finance & Private Equity;
- Islamic Sustainable Finance and Investment;
- Digital Assets, Digitalization and the Evolution of Islamic Financial Services
The World Islamic Finance Dialogues is a series of extended discussions among leading regulators and the industry’s elite, gathered to discuss and identify the sector’s most pressing issues as well as emerging opportunities.
Seated around a round table, with selected observers, each 10-person Dialogue will run for approximately 2 hours.
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, panellists 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 cutting-edge, attendance ensures exclusive access to the leaders in their field across all sectors and markets.
The annual IFN Asia Forum has been the biggest event in the industry since its inception in 2006, attracting over 1,000 delegates annually. An annual line-up of Forums are also conducted across emerging markets and key jurisdictions. Included under REDmoney Events are the IFN Awards Ceremonies, which take place annually in Dubai and Kuala Lumpur, and attract more than 800 industry leaders.