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World Islamic Finance Dialogues 2023

12th December 2023
Wyndham Grand Manama

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Islamic Finance news

World Islamic Finance Dialogues Review

World Islamic Finance Dialogues 2023 Review

Islamic finance leaders: What they want you to know
From sustainability to digitalization to financial inclusion and regulations, here is what industry leaders at the World Islamic Finance Dialogues 2023 think the industry should know and focus on to usher in a new chapter...Read More

About The World Islamic Finance Dialogues 2023

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.

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Dialogues Agenda

9.15 – 9.20

Welcome Address

9.20 – 9.30

Keynote Address

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.

Moderator:

Dr Rizwan Malik, Head, Islamic Finance Centre, Bahrain Institute of Banking & Finance

Panelists:

Bilal Kahlon, Partner, Trowers & Hamlins
Elina Mohamed, Group General Counsel, Bapco Energies
Husain Sayed, CEO, Safaghat WLL
Ijlal Ahmed Alvi, CEO, International Islamic Financial Market
Mughees Shaukat, Senior Manager, AAOIFI
Rachid Ettaai, Business Development Manager, CIBAFI
Sabir Ahmed, Executive Director, Islamic Origination, Standard Chartered Bank

11.30 – 12.00

Coffee

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?

Moderator:

Luma Saqqaf, CEO, Ajyal Sustainability Consulting

Panelists:

Fawaz Ghazal, CEO, FLOOSS
Dr Gulnar Mulla, Senior Fellow of Department of Finance, University of Technology Bahrain
Hakan Ozyon, CEO, Hejaz Financial Services
Dr Shaher Abbas, CEO, IFIN Services
Tamer Al Maug, Managing Director, Codebase Technologies

14.00

Luncheon

Dialogues Keynote

Khalid Hamad Al-Hamad

Khalid Hamad Al-Hamad

Executive Director - Banking Supervision, Central Bank of Bahrain
Khalid Hamad Al-Hamad
Khalid Hamad Al-Hamad
Executive Director - Banking Supervision, Central Bank of Bahrain

Khalid Hamad Abdul-Rahman Al-Hamad has held several senior posts at the Central Bank of Bahrain (CBB). His current responsibilities include supervision of all banking institutions, including Islamic banks licensed by the CBB, as well as inspection of all financial institutions, comprising banks, insurance firms, investment companies and capital market players.

Khalid began his career in 1987 with the Bahrain Monetary Agency, the predecessor of the CBB. From 1990 until 2003, he served as the acting director of inspection and then as the director of banking supervision. In 2003, he joined EY in Bahrain, serving as the senior consultant on risk management and regulatory services. He rejoined the CBB in his current post in February 2006.

Khalid is the chairman of the International Islamic Financial Market; chairman of the Waqf Fund for Research, Education and Training in Islamic Finance; and a board member of the Bahrain Institute of Banking & Finance.

Khalid has a Bachelor’s degree in business administration from the University of Portland, US and a Strategic Leadership and Executive Management Program certificate from the University of Columbia, New York.

Dialogues Speakers

Bilal Kahlon

Bilal Kahlon

Partner & Head of Finance - Saudi Arabia, Trowers & Hamlins
Bilal Kahlon
Bilal Kahlon
Partner & Head of Finance - Saudi Arabia, Trowers & Hamlins

Bilal Kahlon is a partner in Trowers & Hamlins’s Bahrain office.

Bilal has over 10 years of experience in banking and finance matters in the Gulf region with a particular expertise in project finance, Islamic finance and debt capital markets.

Bilal leads Trowers & Hamlins’s Saudi finance practice and has consistently been recognized as a leading lawyer in Saudi Arabia and Bahrain by international legal directories including Chambers and Partners, Legal 500 and IFLR. Having grown up in Bahrain, Bilal has strong ties with Bahrain and the Gulf region as a whole. Bilal is admitted to practice in England.

Bilal Kahlon

Bilal Kahlon

Partner & Head of Finance - Saudi Arabia, Trowers & Hamlins
Bilal Kahlon
Bilal Kahlon
Partner & Head of Finance - Saudi Arabia, Trowers & Hamlins

Bilal Kahlon is a partner in Trowers & Hamlins’s Bahrain office.

Bilal has over 10 years of experience in banking and finance matters in the Gulf region with a particular expertise in project finance, Islamic finance and debt capital markets.

Bilal leads Trowers & Hamlins’s Saudi finance practice and has consistently been recognized as a leading lawyer in Saudi Arabia and Bahrain by international legal directories including Chambers and Partners, Legal 500 and IFLR. Having grown up in Bahrain, Bilal has strong ties with Bahrain and the Gulf region as a whole. Bilal is admitted to practice in England.

Elina Mohamed

Elina Mohamed

Group General Counsel, Bapco Energies
Elina Mohamed
Elina Mohamed
Group General Counsel, Bapco Energies

With over 25 years of experience as an International Corporate and Energy Lawyer, Elina Mohamed has worked across various fields including corporate and project financing as well as corporate governance, energy and infrastructure projects.

Elina is currently the Group General Counsel at Bapco Energies, where she is responsible for the oversight and management of Bapco Energies’s legal functions.

Prior to joining the company, Elina held the position of General Counsel at Oman Oil Refineries and Petroleum Industries Company during which she oversaw the legal and compliance function as well as led the legal workstream under the Nakhla Integration Program which launched in December 2018. The program explored value generation across Oman’s oil and gas sectors.

Elina’s expertise extends back to her early career at Shearn Delamore & Co, and later joined MMC, a listed Malaysian utility and infrastructure conglomerate, in which she became the Group Legal Advisor. At MMC, Elina was also the Board’s Secretary and Special Assistant to the Group Chairman.

Elina graduated with a Bachelor of Laws degree from the University of Leeds and was called to the English Bar and Malaysian Bar. She also holds a Diploma in Shariah Law and Practice from International Islamic University Malaysia.

Fawaz Ghazal

Fawaz Ghazal

CEO, FLOOSS
Fawaz Ghazal
Fawaz Ghazal
CEO, FLOOSS

Fawaz Ghazal is a seasoned financial services professional with over 22 years of experience in the industry. He is currently CEO of Flooss Bahrain, the first digital lending company in the Kingdom of Bahrain, which aims to democratize financial services.

Prior to this role, Fawaz served as CEO of Payment International Enterprise, where he led the company to obtain a license from the central bank and launched as a payment service provider in the Kingdom, and also secured the first MasterCard issuer license for an independent issuer.

Fawaz holds a Bachelor’s degree in communications and electronic engineering, as well as an MBA from New York Institute of Technology.

Fawaz’s expertise in the fields of financial services, payments, digital lending, mobile-first banking services, business development and alliance/partnership management has made him a recognized leader in the fintech industry in the Kingdom and the region.

Overall, Fawaz is a progressive-minded entrepreneur who has played a pivotal role in the growth and development of the fintech industry in Bahrain. His experience, knowledge and skills have made him a valuable asset to the organizations he has served, and his commitment to democratizing financial services has made him a respected figure in the industry.

Dr Gulnar Mulla

Dr Gulnar Mulla

Senior Fellow of Department of Finance, University of Technology Bahrain
Dr Gulnar Mulla
Dr Gulnar Mulla
Senior Fellow of Department of Finance, University of Technology Bahrain

Dr Gulnar Mulla is a distinguished academician with vast experience in the private sector and the banking industry as well. She is the Head of the Finance Department and a Specialist in Islamic Banking at the University of Technology, Bahrain. She has almost more than 10 years of extensive experience at the university disseminating the knowledge of Shariah and Islamic finance at the graduate and postgraduate levels through teaching, publishing innovative research, examining doctoral dissertations, editing refereed journals, participating in fixing standards on Shariah issues for Islamic financial institutions and counseling Muslim communities.

Dr Gulnar is a dynamic and motivated professional with a proven record of generating and building relationships, managing projects she is assigned to from concept to completion, designing educational strategies and coaching individuals to success. She possesses the required expertise in building cross-functional teams, demonstrating exceptional communication skills and making critical decisions during challenges. Dr Gulnar is an adaptable and transformational leader with an ability to work independently. She is a highly passionate, competitive and creative individual and her goal is to add value to the spaces where she thrives in.

Hakan Ozyon

Hakan Ozyon

CEO, Hejaz Financial Services
Hakan Ozyon
Hakan Ozyon
CEO, Hejaz Financial Services

Hakan 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. Respected globally for his business acumen, Hakan is also a director at Islamic Bank Australia.

Husain Sayed

Husain Sayed

CEO, Safaghat WLL
Husain Sayed
Husain Sayed
CEO, Safaghat WLL

Husain Ali Sayed has more than 20 years of experience in leading digital transformation projects and has contributed remarkably to fintech and innovations across the region. He has worked in leading financial institutions and he is passionate about enhancing customers’ digital experience. He worked in well-established corporates and founded/co-founded start-ups as well, so he is well poised to serve investors and merchants in the most rewarding ways. Husain holds an MBA degree from the University of Strathclyde and a Bachelor of Science degree in computer science from the University of Bahrain. Additionally, he has some executive, professional and technical qualifications in marketing, project management and digital growth.

Ijlal Alvi

Ijlal Alvi

CEO, International Islamic Financial Market
Ijlal Alvi
Ijlal Alvi
CEO, International Islamic Financial Market

Ijlal Ahmed Alvi has wide-ranging experience in the financial services industry with regional and international financial institutions spanning over three decades.

As CEO of the International Islamic Financial Market (IIFM) for the last 18 years, Ijlal has been devoted to the goal of facilitating unification and harmonization in the Islamic finance industry globally and has overseen the development of universally standardized Shariah compliant financial documentation and product templates in the areas of liquidity management, hedging, trade finance and Sukuk.

In addition to his responsibilities as CEO, secretary to the board and spokesperson of IIFM, Ijlal also manages IIFM’s comprehensive standards development process and leads the project specific market consultation exercise, global working groups and legal documentation drafting process and is actively involved in the IIFM Shariah board’s guidance and approval process.

Ijlal also supervises IIFM’s industry awareness seminars, training workshops as well as publication of white papers on specific industry topics and the IIFM’s flagship annual Sukuk Report.

Ijlal is a regular speaker at international conferences and also contributes articles in various international and Islamic finance publications.

Luma Saqqaf

Luma Saqqaf

CEO, Ajyal Sustainability Consulting
Luma Saqqaf
Luma Saqqaf
CEO, Ajyal Sustainability Consulting

Luma Saqqaf is a recognized sustainable finance consultant in the MENA region and is called upon by corporates, financial institutions, funds and asset managers to advise on aspects of sustainable value creation, sustainable and ESG strategy and its integration into their business. She also counsels regulators and financial markets in the MENA region on sustainable finance regulations and the development of the capital markets in the MENA region.

Luma has been at the forefront of finance, Islamic finance, sustainability and entrepreneurship in the MENA region and Europe for three decades. A former partner and global head of Islamic finance at Magic Circle law firm Linklaters, she has more than 20 years of experience in legal practice, including practicing at the two Magic Circle law firms, Allen & Overy and Linklaters, where she was a finance partner and global head of the Islamic Finance Group. She led teams across Europe, the Middle East and Asia on groundbreaking transactions covering finance and capital markets including Shariah compliant Sukuk (bonds), loans, securitization and structured finance, derivatives and fund transactions.

Luma is now CEO of Ajyal Sustainability Consulting and is also a regular speaker at conferences and contributor to articles on the topics of sustainable finance in the MENA region.

Luma is also the founder of investment group Ajyal Group and ethical luxury womenswear brand BYLUMA and has advised and mentored several social enterprises in the MENA region. She holds a Master of Law degree from the University of Bristol in the UK, and a Bachelor of Law degree from the University of Jordan, and has attended the Harvard executive business education program (YPO Harvard Business Leadership Program 2015, 2016, 2017 and 2019).

Mughees Shaukat

Mughees Shaukat

Senior Manager, AAOIFI
Mughees Shaukat
Mughees Shaukat
Senior Manager, AAOIFI

Mughees Shaukat is a global Islamic financial strategist; policy advisor, senior manager at AAOIFI, Bahrain; a fintech specialist at MIT, US; an Islamic banking advisor in Oman; a strategic partner at ESGQ for Green Finance in Almaty, Kazakhstan; the pioneer head of Islamic finance at the College of Banking and Financial Studies (CBFS); and also worked in the Central Bank of Oman.

Mughees is a thought leader, prolific author, renowned public speaker and prominent contributor in local and global policy and strategic affairs. Under his leadership and global contributions, Mughees made CBFS into a global entity, winning the GIFA award from the president of the Islamic Republic of Pakistan. He was also awarded as the ‘Fintech Leader of the Year 2020’ by Turkiye and has featured on the front cover of a top international financial magazine as a global personality, strategist and thought leader.

Mughees is a PhD scholar in (Islamic) economics and finance, specializing in entrepreneurship and policies for entrepreneurial ecosystems in the GCC, while holding multiple strategic and advisory positions. He is also the ex-vice-chairman of the AAOIFI’s Education Board, Bahrain; a member of the Blockchain Society, Oman; and an AAOIFI-certified Shariah advisor and auditor, among others.

Rachid Ettaai

Rachid Ettaai

Business Development Manager, General Council for Islamic Banks and Financial Institutions (CIBAFI)
Rachid Ettaai
Rachid Ettaai
Business Development Manager, General Council for Islamic Banks and Financial Institutions (CIBAFI)

Rachid Ettaai is a multi-skilled professional with a set of competencies from different disciplines. He is currently The Business Development Manager at the General Council for Islamic Banks and Financial Institutions an international organization headquartered in Bahrain. He is responsible of developing partnerships and collaborations with international organisations to support CIBAFI’s mission. He worked on successful projects and initiatives with organizations such as IsDB, UN, UNEP FI, the World Bank and other stakeholders. He also contributed to the management of a portfolio of research projects related to Islamic Finance with a budget around 500k USD.

Rachid’s areas of interest and expertise cover Business strategy, digital transformation, Islamic finance and sustainability. He is also the head of Strategic Planning at Turritopsis, Strategic Institute of Sustainable Development, headquartered in Brussels, Belgium.

Rachid is a multi-lingual finance professional who holds a Master’s degree in Financial Engineering and Risk Management from the National School of IT (ENSIAS), Rabat, Morocco; and a Bachelor’s degree in Mathematics and Computer Sciences from University Cadi Ayyad, Marrakesh, Morocco.

Dr Rizwan Malik

Dr Rizwan Malik

Head, Islamic Finance Centre, Bahrain Institute of Banking & Finance
Dr Rizwan Malik
Dr Rizwan Malik
Head, Islamic Finance Centre, Bahrain Institute of Banking & Finance

Dr Rizwan Malik is a passionate advocate of Islamic finance with over 12 years of diverse experience in investments, advisory, research, strategy and business development. Since June 2023, he has been the Head of the Islamic Finance Centre at the Bahrain Institute of Banking and Finance.

Prior to his current role, Dr Rizwan was an Executive Director of Standards Implementation and Strategic Developments at AAOIFI, the oldest standard-setting organization within the global Islamic finance industry.

Prior to AAOIFI, Dr Rizwan headed the Strategic Planning and Development Team at the Muscat National Development and Investment Company based – a semi-government institution set up by the sovereign wealth fund of Oman and several government pension funds.

Dr Rizwan holds a Bachelor’s degree from Heriot Watt University, a Master of Science degree in Banking and Finance and a PhD from Kingston University London. His post-doctoral research focused on Islamic capital markets with an exclusive focus on equity investments.

Dr Rizwan has contributed to various conferences and events around the world and has written book chapters and articles in award-winning publications.

Sabir Ahmed

Sabir Ahmed

Executive Director Islamic Origination, Standard Chartered Bank
Sabir Ahmed
Sabir Ahmed
Executive Director Islamic Origination, Standard Chartered Bank

Sabir Ahmed is responsible for the structuring and execution of Shariah compliant capital markets, syndications, corporate finance and financial markets transactions in the GCC, the Southeast Asian region (Malaysia, Indonesia, Brunei and Singapore), the UK and Turkey. Sabir has arranged 100-plus sovereign, quasi-sovereign, corporate and financial institution Islamic syndications and debt capital market transactions across multiple geographies, including a number of debut and award-winning deals. Sabir joined Standard Chartered in 2005 and has over 23 years of experience in the financial services industry of which 19 years were in Islamic banking. Sabir holds an MBA degree from the Institute of Business Administration, Karachi.

Dr Shaher Abbas

Dr Shaher Abbas

CEO, IFIN Services
Dr Shaher Abbas
Dr Shaher Abbas
CEO, IFIN Services

Dr Shaher Abbas is the founder and CEO of IFIN, the first-of-its-kind Islamic fintech that is geared to redefine the Islamic finance industry. He is also the co-founder of IFAAS, the leading international consultancy specializing in Islamic finance.

Dr Shaher has over 20 years of experience across the Islamic finance landscape, including banking, Shariah governance, product development, auditing and training with extensive knowledge in the fintech sphere.

Dr Shaher’s technical expertise and ability to innovate have been internationally acclaimed and endorsed as he received the ‘Ethical Finance Innovation Challenge Award’ twice — in 2013 for IFAAS and in 2021 for IFIN — the IsDB Private Sector Forum Competition 2023 award, the MIT Enterprise Forum Arab Startup Competition 2022 award and the Arab Financial Inclusion Innovation Prize 2018.

Dr Shaher holds a PhD in Islamic financial engineering from Durham University, UK and a Master’s degree in Islamic economics, banking and finance from Loughborough University, UK. He is also an AAOIFI-certified Shariah advisor and auditor.

Tamer Al Maug

Tamer Al Maug

Managing Director, Codebase Technologies
Tamer Al Maug
Tamer Al Maug
Managing Director, Codebase Technologies

Tamer Al Mauge is the Managing Director for the MENA region at Codebase Technologies and has enjoyed a dynamic career spanning 20 years in the fintech industry. His journey in the world of financial technology is marked by significant achievements and pioneering contributions. Before his current role, Tamer honed his expertise in sales and technology at NCR Corporation, a global leader in financial and retail technology solutions. Over 12 years, he spearheaded sales initiatives across the Middle East and Africa, working closely with tier one brands. Today, as the head of Codebase Technologies’ operations in the MENA region, Tamer leverages his extensive experience guiding clients through the rapidly evolving fintech world. His approach is not just about adapting to changes but also about being a step ahead in a digital-first financial landscape. A notable highlight of Tamer’s career is his role as a founding team member of Eazy Financial Services B.S.C. Here, he was instrumental in launching a groundbreaking payment network. His expertise is not limited to technological innovation. Tamer is also a Central Bank of Bahrain (CBB) approved individual. This underscores his deep understanding of regulatory frameworks and compliance, further enhancing his capability to navigate the complex financial sector. Tamer’s influence extends through strong relationships in the government and private sectors, notably in Bahrain, Jordan, Iraq, and beyond. His strategic networking and collaboration skills have been pivotal in establishing and nurturing these key connections. With an impressive track record in financial technology, Tamer Al Mauge continues to be a visionary leader. His contributions are not just shaping Codebase Technologies’ success in the MENA region but also significantly impacting the fintech industry at large.

 

Advisory Board

Al Sayed Jaffer Mohammed

Al Sayed Jaffer Mohammed

Partner and CEO, Hassan Radhi and Associates.
Al Sayed Jaffer Mohammed
Al Sayed Jaffer Mohammed
Partner and CEO, Hassan Radhi and Associates.

Sayed Jaffer Mohamed holds the position of partner and CEO at Hassan Radhi and Associates since joining the firm in 2011, where he spearheads the development and execution of the firm’s long-term strategy. He is accountable for making all day-to-day management decisions and implementing the firm’s long- and short-term plans.

Sayed possesses vast experience in handling various transactions pertaining to corporate matters. With his extensive financing background, Sayed is well-equipped to offer advice on conventional and Islamic financing, restructuring finance facilities and collateralization of finance.

Sayed has an impressive background in accounting and auditing from 1991 to 2006, during which he held various positions in different organizations, including Cooper & Lybrand, among others.

From 2006 to 2009, Sayed worked as a consultant at the Ministry of Health and he then served as the assistant undersecretary for financial and technical Affairs at the Ministry of Health from 2009 to 2011.

Sayed’s educational background includes a Bachelor in Law degree from Bahrain University in 2006, a Certified Public Accountant qualification from the American Institute of CPAs in the US in 2000 and a Bachelor in Accounting degree from Bahrain University in 1990.

Gregory Man

Gregory Man

Partner - Global Head of Islamic Finance, BIRD & BIRD
Gregory Man
Gregory Man
Partner - Global Head of Islamic Finance, BIRD & BIRD
Dr Gulnar Mulla

Dr Gulnar Mulla

Senior Fellow of Department of Finance, University of Technology Bahrain
Dr Gulnar Mulla
Dr Gulnar Mulla
Senior Fellow of Department of Finance, University of Technology Bahrain

Dr Gulnar Mulla is a distinguished academician with vast experience in the private sector and the banking industry as well. She is the Head of the Finance Department and a Specialist in Islamic Banking at the University of Technology, Bahrain. She has almost more than 10 years of extensive experience at the university disseminating the knowledge of Shariah and Islamic finance at the graduate and postgraduate levels through teaching, publishing innovative research, examining doctoral dissertations, editing refereed journals, participating in fixing standards on Shariah issues for Islamic financial institutions and counseling Muslim communities.

Dr Gulnar is a dynamic and motivated professional with a proven record of generating and building relationships, managing projects she is assigned to from concept to completion, designing educational strategies and coaching individuals to success. She possesses the required expertise in building cross-functional teams, demonstrating exceptional communication skills and making critical decisions during challenges. Dr Gulnar is an adaptable and transformational leader with an ability to work independently. She is a highly passionate, competitive and creative individual and her goal is to add value to the spaces where she thrives in.

Ijlal Alvi

Ijlal Alvi

CEO, International Islamic Financial Market
Ijlal Alvi
Ijlal Alvi
CEO, International Islamic Financial Market

Ijlal Ahmed Alvi has wide-ranging experience in the financial services industry with regional and international financial institutions spanning over three decades.

As CEO of the International Islamic Financial Market (IIFM) for the last 18 years, Ijlal has been devoted to the goal of facilitating unification and harmonization in the Islamic finance industry globally and has overseen the development of universally standardized Shariah compliant financial documentation and product templates in the areas of liquidity management, hedging, trade finance and Sukuk.

In addition to his responsibilities as CEO, secretary to the board and spokesperson of IIFM, Ijlal also manages IIFM’s comprehensive standards development process and leads the project specific market consultation exercise, global working groups and legal documentation drafting process and is actively involved in the IIFM Shariah board’s guidance and approval process.

Ijlal also supervises IIFM’s industry awareness seminars, training workshops as well as publication of white papers on specific industry topics and the IIFM’s flagship annual Sukuk Report.

Ijlal is a regular speaker at international conferences and also contributes articles in various international and Islamic finance publications.

Magdy Eissa

Magdy Eissa

Vice-President, Business Development, IdealRatings
Magdy Eissa
Magdy Eissa
Vice-President, Business Development, IdealRatings

Magdy Eissa took on the role of global business development when he joined IdealRatings in 2010 and he has over 20 years of experience in the financial services industry, working closely with global investment firms, research houses and financial institutions. Prior to IdealRatings, Magdy’s latest role was as the regional manager for a group of Euromoney institutional investor companies, responsible for the Middle East and Africa where he spent several years growing the business in the region and enhancing the products offered to include macroeconomic indicators, company information and Islamic finance data. Magdy holds a Bachelor’s degree in business administration from Egypt along with postgraduate qualifications in information technology from the UK.

Sabeen Saleem

Sabeen Saleem

CEO, Islamic International Rating Agency
Sabeen Saleem
Sabeen Saleem
CEO, Islamic International Rating Agency

Sabeen Saleem, CFA is the Chief Executive Officer of Islamic International Rating Agency. Ms. Sabeen has 25 years of multifaceted experience in financial risk assessments spanning banks and non-financial entities, fund managers and insurance companies, with specialized focus on Islamic finance in all of these areas. She has been associated with the credit ratings industry for over two decades and has pioneered ratings in the social sector of Pakistan, while also being actively involved in research endeavours of significance in Islamic finance. She is a Chartered Financial Analyst and has a master’s degree in business administration.

Dialogues Partners

MULTILATERAL STRATEGIC PARTNERS

The Islamic Corporation for the Development of the Private Sector (ICD)

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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

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The Islamic Corporation for The Insurance Of Investment And Export Credit (ICIEC)

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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.

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International Islamic Trade Finance Corporation

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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

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IsDB Group Business Forum (THIQAH)

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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)

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KNOWLEDGE PARTNER

PARTNERS

Eiger

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Eiger Trading Advisors (Eiger) is a UK-based asset-trading and technology company founded in 2008, which specializes as an intermediary in Islamic financial products.

As a leading intermediary and technology provider within the commodity Murabahah space, Eiger has the unique capabilities to deliver Shariah compliant commodity trading solutions through the Eiger Trading Platform (ETP), a web-based trading system, that we tailor to our bank clients’ exact operational requirements.

The ETP automates the structuring and execution of Islamic banking products for wholesale and retail commodity-backed transactions, including two new enhanced modules:

  • ETP Retail – A 24/7 STP platform designed to automate the end-to-end commodity Murabahah transactions underpinning retail banking products such as deposits, loans, CASA, credit cards
  • ETP Client Reach – A bespoke middle and back office module designed to streamline Islamic treasury and derivative transactions, including execution and documentation with our clients’ clients.

Eiger is authorized and regulated by the UK’s Financial Conduct Authority, and is both a member of the London Metal Exchange and an associate of the London Platinum and Palladium Market.

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Hassan Radhi & Associates (“HRA”)

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Hassan Radhi and Associates (HRA) is a prominent Bahraini law firm founded in 1974 by Dr Hassan Ali Radhi. With 50 years of experience, HRA has emerged as a leading legal consultancy firm, delivering comprehensive legal solutions to clients in Bahrain and beyond. HRA boasts a team of eight partners and 16 professionals, including associates and an administrative team, who possess extensive proficiency in Bahraini laws. They offer consultations in both Arabic and English languages.

HRA is the exclusive member firm in Bahrain for Lex Mundi, the world’s leading network of independent law firms with in-depth experience in 125-plus countries worldwide. HRA can provide clients with preferred access to more than 22,000 lawyers around the world — all from a single point of contact.
HRA has received numerous awards and accolades. The firm remains dedicated to providing exceptional legal services and upholding professional standards. With a solid reputation, extensive expertise and memberships in prestigious organizations, HRA continues to be a trusted partner for legal solutions in Bahrain and beyond.

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Hejaz

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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.

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IdealRatings

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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.
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Trowers & Hamlins

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Trowers & Hamlins is an international law firm with over 150 partners and more than 900 people located across the UK, the Middle East and the Far East providing a full-service integrated offering to clients with local knowledge and expertise at its core.

Our distinguishing feature is that with 25 years of experience in the UK and the Middle East, we have a depth of knowledge of the Islamic finance industry that covers the entire spectrum from regulatory and corporate governance to capital market issuances and real estate investment. Our international team of multidisciplinary specialists will guide you on structuring your Shariah compliant activities to help you achieve a successful outcome.

With our growing office in Kuala Lumpur, our team now advises on Islamic investments, financings and products across the UK, Europe, the Middle East and Southeast Asia.

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CONSULTANCY PARTNER

Redmoney Consulting

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Launched in April 2021, Redmoney Consulting is a new and highly focused advisory firm focusing on global Islamic, Ethical, Responsible and Sustainable Finance. Redmoney Consulting is a logical extension of REDmoney Group, the Islamic finance industry’s leading media house with a truly global audience. In addition to Islamic finance, the Group has steadily increased its coverage of the green and sustainable finance sector as the two markets continue to converge. Redmoney Consulting provides an expansive service allowing its consultants to provide advisory and consulting services at the highest level for the most discerning of clients.

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LEAD MEDIA PARTNERS

MEDIA PARTNERS

COMMUNICATIONS PARTNER

In The News

IFN Monthly Review: June – Welcoming new Islamic banks

Several jurisdictions took major steps toward expanding their Islamic banking ecosystems this week, with developments ranging from new licenses and...

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Bahraini oil and gas company refinances Islamic facility into sustainability-linked transaction

The Bahraini state-owned Oil and Gas Holding Company, also known as nogaholding, has successfully refinanced…

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Bahrain welcomes first green Sukuk worth US$900 million; lists on London Stock Exchange

Bahrain has joined green/sustainable Sukuk issuers, notably Indonesia and Malaysia and corporates from…

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Rising fuel prices and recovering economy bode well for Bahrain’s Islamic banks

Outpacing the growth of its conventional peers, Bahrain’s Shariah banking sector, which accounts for almost…

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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:
    1. Global Islamic Capital Markets, Infrastructure Finance & Private Equity;
    2. Islamic Sustainable Finance and Investment;
    3. 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.

Full Details

About REDmoney Events

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.

For any inquiries contact us

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

Contact Us

About Us

REDmoney Events designs, organizes and hosts industry-leading conferences, forums, roadshows and seminars focusing on the Islamic financial markets across a global, regional and national level.

+603 2162 7800
[email protected]

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Islamic Finance News @ifn_news ·
17 Jul

We are proud to welcome IsDB Group Business Forum (THIQAH) as Multilateral Strategic Partners for IFN UK Forum 2025.

This event will take place on 1st September 2025 at Mansion House, London.

FREE registrations now open: https://redmoneyevents.com/event/ifnuk2025/

Islamic Finance News @ifn_news ·
17 Jul

We are proud to welcome International Islamic Trade Finance Corporation as Multilateral Strategic Partners for IFN UK Forum 2025.

This event will take place on 1st September 2025 at Mansion House, London.

FREE registrations now open: https://redmoneyevents.com/event/ifnuk2025/

Islamic Finance News @ifn_news ·
17 Jul

We are proud to welcome The Islamic Corporation for The Insurance Of Investment And Export Credit (ICIEC) as Multilateral Strategic Partners for IFN UK Forum 2025.

This event will take place on 1st September 2025 at Mansion House, London.

Islamic Finance News @ifn_news ·
17 Jul

We are proud to welcome The Islamic Corporation for the Development of the Private Sector (ICD) as Multilateral Strategic Partners for IFN UK Forum 2025.

This event will take place on 1st September 2025 at Mansion House, London.

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