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World Islamic Finance Dialogues 2024

27th November 2024
Wyndham Grand Manama

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Islamic Finance news

#IFNEVENTS2024

World Islamic Finance Dialogues Review

World Islamic Finance Dialogues 2024 Review

Driving Growth – Bahrain’s Islamic Financial Markets
Bahrain’s Islamic financial markets continue to make steady progress, positioning themselves as a regional leader in Shariah compliant financial innovation and growth. During the ‘Driving Growth – Bahrain’s Islamic Financial Markets’ dialogue, industry leaders examined the Kingdom’s competitive advantages, challenges and opportunities that lie ahead within its Islamic financial ecosystem...Read More

About The World Islamic Finance Dialogues

The global Islamic finance industry is entering a new era of new possibilities with its convergence with the larger sustainable and ethical finance movement. The digital wave is also reshaping the industry, with consumer behavior changing and Islamic financial institutions compelled to be more adept and forwardthinking with their growth strategy.

We are delighted to host global leaders in Manama for the IFN World Islamic Finance 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 has spearheaded developments in Islamic fintech and digital transformations, and has immersed itself in the ESG finance movement.

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Dialogues Agenda

9.05 – 9.10

Welcome Remarks

9.10 – 9.20

Presentation: Debt, its Implications, and Islamic Finance

Dr Jarmo T Kotilaine, Economic Advisor, Tamkeen

9.20 – 10.40

Dialogue One: Driving Growth – Bahrain’s Islamic Financial Markets

  • What progress have the Bahraini Shariah compliant financial markets made since we last met?
  • What is a competitive advantage the Bahraini Islamic capital market can lay claim to, and what activities do the Kingdom perform well?
  • 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?
  • How can Bahrain further deploy Sukuk to support banking and non-banking financial businesses?
  • What are the key drivers behind the growth of the Islamic capital markets in Bahrain, and what challenges need to be addressed to sustain this momentum?
  • How is Bahrain leveraging technology and digitalization to modernize capital markets infrastructure, as well as further the development of digital assets?
  • How significant is the re-emergence of the regulatory capital Sukuk market for Bahrain’s Islamic financial institutions?
  • How can green and sustainability linked Sukuk and other innovations further flourish in Bahrain?
  • How can Bahrain further drive the integration of sustainability and climate risk into the development of Shariah compliant investment products?
  • To what extent has the domestic Islamic asset management industry managed to differentiate itself from its conventional peers?
  • What opportunities exist for Shariah compliant asset owners and managers in Bahrain to diversify their product offerings and expand into new markets and asset classes?

Moderator:

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

Panelists:

Abdul-Rahman Hammad, Regional Director – Middle East, IdealRatings
Elina Mohamed, Group General Counsel, Bapco Energies
Hakan Ozyon, CEO, Hejaz Financial Services
Ijlal Ahmed Alvi, CEO, International Islamic Financial Market
Steven Griffiths, Founder, Absolute Collateral

10.40 – 11.10

Coffee and Networking

11.10 – 12.20

Dialogue Two: A Model for Stability - Islamic Banking in Bahrain

  • What makes Bahrain’s banking system – comprising of both conventional and Islamic financial institutions – a model for others to follow?
  • How has an open economy, prudent macroeconomic policies and regulatory frameworks contributed to the development of Islamic banking in Bahrain?
  • Recent mergers have bolstered the market share and balance sheets of Bahraini Islamic financial institutions. Will consolidation of the banking sector continue, and how will smaller institutions perform?
  • How far along the transformation journey are Islamic financial institutions in Bahrain, and what more needs to be done?
  • How have regulatory frameworks and sandboxes driven innovation in Shariah compliant financial technology and digital assets in Bahrain?
  • With the recent launches of digital Islamic banks in Bahrain, how will the development and delivery of domestic Islamic financial services evolve?
  • Do Islamic banks in Bahrain still face challenges in terms of liquidity creation and liquidity risk management, and what solutions are available?
  • What regulatory frameworks and guidelines exist in Bahrain to promote ESG practices within Islamic financial institutions?
  • How is climate risk being measured in the banking books of Bahrain Islamic financial institutions?
  • How is the adoption of ESG frameworks pushing the agenda for better financial inclusion, climate impact and governance under the umbrella of responsible banking in Bahrain?

Moderator:

Ashar Nazim, Chief Executive, Aion Digital

Panelists:

Debopam Dutta, Senior Associate, Trowers & Hamlins
Dr Gulnar Mulla, Senior Fellow of Department of Finance, University of Technology Bahrain
Hammad Hassan, Group Head of Islamic Banking and Managing Director, Bank ABC Islamic
Lilian Le Falher, Treasury & Financial Institutions, Al Salam bank
Dr Mughees Shaukat, Senior Manager – Advocacy and Awareness, The Accounting and Auditing Organization for Islamic Financial Institutions

12.20

Luncheon

Dialogues Speakers

Abdul-Rahman Hammad

Abdul-Rahman Hammad

Regional Director - Middle East, IdealRatings
Abdul-Rahman Hammad
Abdul-Rahman Hammad
Regional Director - Middle East, IdealRatings

Abdul-Rahman joined IdealRatings in 2012 and is based in Saudi Arabia. He has extensive experience as a Sales Executive serving the financial sector across the Middle East with a proven track record among top tier institutions. Prior to IdealRatings, Abdul-Rahman was a Sales Manager at Advanced Operations Technology, where he was responsible for identifying and developing new sales solutions and converting them into profitable new businesses. He also worked for KnowledgeNet as Sales Manager where he was responsible for setting sales strategies to penetrate the market, introducing the company Order Management System for the financial sector in the GCC. Abdul-Rahman holds a BSc in Computer Engineering from the Applied Science University in Jordan and an MBA from Manchester Business School.

Ashar Nazim

Ashar Nazim

Chief Executive, Aion Digital
Ashar Nazim
Ashar Nazim
Chief Executive, Aion Digital

Ashar Nazim is the Founder and Group CEO of Aion Digital. He is a fintech entrepreneur, investor and board advisor. Formerly, he was a Senior Partner at Ernst & Young and Global Head of Islamic Banking Practice. Ashar is engaged in the buildout of the fintech ecosystem in MENA, advising several Islamic banks on structuring and implementation of fintech solutions. Over the past 20 years, he has helped in the operational buildout of more than 30 Islamic financial institutions and national level programs.

Debopam Dutta

Debopam Dutta

Senior Associate, Trowers & Hamlins
Debopam Dutta
Debopam Dutta
Senior Associate, Trowers & Hamlins

Debopam has extensive experience in finance in the international as well as the Indian domestic markets, having previously worked in India, Singapore, London and Tokyo.

He leads the firm’s India Desk. With in-depth knowledge of the Indian market and regulatory climate, he advises clients on how to successfully implement their Indian-focused transactions.

He advises banks, financial institutions, agents, real estate investment trusts, sponsors, funds and multinational companies across the GCC, South Asia and South East Asia spanning a broad range of industries and asset classes on a wide range of domestic and cross-border transactions with particular focus on corporate finance, real estate finance, project & infrastructure finance, acquisition finance, trade finance, Islamic finance, debt capital markets & structured finance, debt restructuring and regulatory issues. In addition, Debopam regularly assists clients with credit agreement compliance concerns, amendments, waivers and consents on financing documents as well as routine regulatory compliance issues. Besides acting as a counsel for lenders or investors, Debopam has substantial experience in representing borrowers and issuers. He is increasingly sought out for his expertise in the space of ESG and green financing in the GCC and is a regular speaker at conferences and events in this area.

Debopam has been listed in the ALB Super 50 MENA Lawyers 2023 list as one of the most highly recommended private practice lawyers in the region and was mentioned in the IFN Lawyers Directory as a leading Islamic finance practitioner in Oman.

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.

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’s role as CEO at Hejaz Financial Services involves setting strategic paths and forming financial alliances. With over 30 years of experience in business, he is known for leading innovative strategies and nurturing talent. 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. Notably, he has spent a decade transforming visions into pioneering Islamic financial services. He is respected globally for his business acumen.

Hammad Hassan

Hammad Hassan

Group Head of Islamic Banking and Managing Director, Bank ABC Islamic
Hammad Hassan
Hammad Hassan
Group Head of Islamic Banking and Managing Director, Bank ABC Islamic

Hammad Hassan has over 25 years of banking experience, spread across corporate and consumer banking, global transaction services and Islamic finance. He has been with Bank ABC Islamic since 2005. Prior to joining Bank ABC, Hassan worked for over 11 years with Citigroup and its affiliate in Saudi Arabia, Samba Financial Group. Hassan joined Citigroup in 1994. In 2005, Hassan joined Bank ABC Islamic as the Head of Coverage. In his current role, he is the Managing Director & CEO of Bank ABC Islamic, Bahrain, as well as the Group Head of Islamic Banking for Bank ABC. Hassan represents Bank ABC Islamic on the Board of the International Islamic Financial Market, Bahrain.

Ijlal Ahmed Alvi

Ijlal Ahmed Alvi

CEO, International Islamic Financial Market
Ijlal Ahmed Alvi
Ijlal Ahmed 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 contributes articles in various international and Islamic finance publications.

Dr Jarmo T Kotilaine

Dr Jarmo T Kotilaine

Economic Advisor, Tamkeen
Dr Jarmo T Kotilaine
Dr Jarmo T Kotilaine
Economic Advisor, Tamkeen

Dr Jarmo T Kotilaine has held several positions in the financial services sector and in government-related entities in the Gulf region, and currently works at a fund tasked with supporting economic diversification in Bahrain. He studied Economics and Economic History at Oxford, Cambridge and Harvard, and has written widely in the regional media on economic financial market issues.

Lilian Le Falher

Lilian Le Falher

Treasury & Financial Institutions, Al Salam bank
Lilian Le Falher
Lilian Le Falher
Treasury & Financial Institutions, Al Salam bank

Lilian Le Falher has 26 years of experience in investment banking. He is an Executive Manager at Kuwait Finance House (KFH), Bahrain, heading treasury, financial institutions and capital markets. As a representative of KFH, he is a Board Member of the International Islamic Financial Market and the Chairman of its Executive Committee. He has contributed to the development of various Shariah compliant structured products and investment schemes.

Prior to joining KFH in 2005, Lilian spent eight years with BNP Paribas in Europe and the Middle East. He ended his duty at BNP Paribas as the Head of Investment Products for the Middle East region, dealing extensively in equity, bonds and structured products.

Lilian Le Falher holds a Master’s degree Banking and Finance from Toulouse Business School (France) and he is a CFA Charter Holder.

Dr Mughees Shaukat

Dr Mughees Shaukat

Senior Manager – Advocacy and Awareness, The Accounting and Auditing Organization for Islamic Financial Institutions
Dr Mughees Shaukat
Dr Mughees Shaukat
Senior Manager – Advocacy and Awareness, The Accounting and Auditing Organization for Islamic Financial Institutions

Mughees Shaukat is a global Islamic Financial Strategist; Policy Advisor and 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 has 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 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.

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.

Steven Griffiths

Steven Griffiths

Founder, Absolute Collateral
Steven Griffiths
Steven Griffiths
Founder, Absolute Collateral

Steven Griffiths is CEO & Founder of Absolute Collateral. Steven has over 15 years of experience in US, European and Asian investment banks in sales & trading roles, focusing on fixed income products with global buy and sell-side clients. Absolute Collateral combines this experience of trading, global clients and technology and focuses on development of the MENA tradable markets via a repo trading platform for conventional, Islamic and global clients in local and international currency assets.

Advisory Board

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.

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.

Lilian Le Falher

Lilian Le Falher

Treasury & Financial Institutions, Al Salam bank
Lilian Le Falher
Lilian Le Falher
Treasury & Financial Institutions, Al Salam bank

Lilian Le Falher has 26 years of experience in investment banking. He is an Executive Manager at Kuwait Finance House (KFH), Bahrain, heading treasury, financial institutions and capital markets. As a representative of KFH, he is a Board Member of the International Islamic Financial Market and the Chairman of its Executive Committee. He has contributed to the development of various Shariah compliant structured products and investment schemes.

Prior to joining KFH in 2005, Lilian spent eight years with BNP Paribas in Europe and the Middle East. He ended his duty at BNP Paribas as the Head of Investment Products for the Middle East region, dealing extensively in equity, bonds and structured products.

Lilian Le Falher holds a Master’s degree Banking and Finance from Toulouse Business School (France) and he is a CFA Charter Holder.

Dr Mughees Shaukat

Dr Mughees Shaukat

Senior Manager – Advocacy and Awareness, The Accounting and Auditing Organization for Islamic Financial Institutions
Dr Mughees Shaukat
Dr Mughees Shaukat
Senior Manager – Advocacy and Awareness, The Accounting and Auditing Organization for Islamic Financial Institutions

Mughees Shaukat is a global Islamic Financial Strategist; Policy Advisor and 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 has 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 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.

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.

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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STANDARDS AND KNOWLEDGE PARTNER

LEAD MEDIA PARTNERS

Islamic Finance news

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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.

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IFN Fintech

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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.

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IFN Sustainable

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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.

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IFN Investor

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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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MEDIA PARTNER

In The News

IFN Monthly Review: April – Regulatory updates support Islamic finance

India introduced an amendment to its Waqf bill to modernize property management in the sector. Kazakhstan began the process of...

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Bahrain: Driven by strong support

Bahrain may be the smallest oil producer in the GCC, but it receives strong support from the other countries in the region…

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Sovereign Securities: Bahrain’s Sukuk Salam and Sukuk Ijarah issuances oversubscribed

Bahrain’s monthly issuances of its Sukuk Salam and Sukuk Ijarah were both oversubscribed, while Indonesia continued with the…

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Bahrain’s Islamic wholesale bank exits from investment in Dubai’s The World; prepares for merger

As property and land values in Dubai are on a three-year golden run, Bahrain-based Islamic wholesale bank Venture Capital Bank…

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The Previous World Islamic Finance Dialogues

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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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.

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]

Our Publications

  • Islamic Finance news
  • IFN Investor
  • IFN Sustainable
  • IFN Fintech

Recent Tweets

Islamic Finance News @ifn_news ·
17 Feb

We are pleased to welcome Mehdi Popotte, Portfolio Manager, Arqaam Capital, to the speaker line-up for the IFN Investor Middle East Forum 2025, taking place in Address Sky View, Dubai on 17th February 2025.

FREE registrations now open:
https://redmoneyevents.com/event/ifninvestorme2025/

Islamic Finance News @ifn_news ·
17 Feb

We are pleased to welcome Dr Imran Lum, Head of Islamic Finance, Business & Private Bank, NAB, to the speaker line-up for the IFN Investor Middle East Forum 2025, taking place in Address Sky View, Dubai on 17th February 2025.

FREE registrations now open:
https://redmoneyevents.com/event/ifninvestorme2025/

Islamic Finance News @ifn_news ·
17 Feb

We are pleased to welcome Gareth Lewis, Vice President, Partnerships and Enterprise, Fasset, to the speaker line-up for the IFN Investor Middle East Forum 2025, taking place in Address Sky View, Dubai on 17th February 2025.

FREE registrations now open:
https://redmoneyevents.com/event/ifninvestorme2025/

Islamic Finance News @ifn_news ·
14 Feb

We are pleased to welcome Ruslan Akhmedzyanov, Head of Transaction Advisory, Ypsilon Capital DIFC, to the speaker line-up for the IFN Investor Middle East Forum 2025, taking place in Address Sky View, Dubai on 17th February 2025.

FREE registrations:
https://redmoneyevents.com/event/ifninvestorme2025/

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Join Baker McKenzie and the largest names in the i Join Baker McKenzie and the largest names in the industry and receive daily news and updates on the global Islamic finance industry.

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Join Asia Alliance Bank and the largest names in t Join Asia Alliance Bank and the largest names in the industry and receive daily news and updates on the global Islamic finance industry.

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Presenting the 3rd Annual Global Shari'ah Majlis: Presenting the 3rd Annual Global Shari'ah Majlis: Transforming for a Better Tomorrow.

Explore pivotal topics with our esteemed speakers on 23rd October 2024, at Movenpick Hotel, Karachi - Pakistan.

Get ready for enlightening discussions at the intersection of faith and progress.

Register now to attend physically or to watch virtually at: https://redmoneyevents.com/event/global-shariah-majlis-2024/

Let's make a difference together. Don't miss out!

#StanChart #SaadiqIslamic #SCGlobalShariahMajlis2024
Tamweel Aloula, a digital financing company in Sau Tamweel Aloula, a digital financing company in Saudi Arabia, has completed its issuance of an Additional Tier 1 Capital Sukuk under its inaugural Sukuk program worth SAR500 million (US$133.05 million).

The issuance marks the first time such a program has been implemented by a non-banking financial institution in the Kingdom. Facilitating the transaction was Impact46, a Saudi investment and advisory firm which acted as the financial adviser and arranger, while legal counsel was provided by Norton Rose Fulbright.

https://www.islamicfinancenews.com/daily-cover-story-financing-company-issues-landmark-sukuk-for-non-banking-finance-sector-in-saudi-arabia.html

#REDmoney #IFN #IslamicFinance #Finance #SukukIssuance #ShariahCompliant #DigitalFinance #DebtCapitalMarkets #SMEFinancing #Tier1Capital #SaudiEconomy #HalalFinance #TamweelAloula #Impact46 #NortonRoseFulbright #SaudiExchange #SaudiCentralBank #SaudiArabia
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