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World Islamic Finance Dialogues

5th December 2022
Wyndham Grand Manama

Brought to you by

Islamic Finance news

#WIFDIALOGUES2022

World Islamic Finance Dialogues Review

World Islamic Finance Dialogues Report 2022 Review

The inaugural World Islamic Finance Dialogues
REDmoney has been covering the Middle East since 2004 and organizing industry-leading events in the region since 2008. On the 5th December 2022, IFN brought to Bahrain the inaugural World Islamic Finance Dialogues. A series of extended discussions among leading regulators and the industry’s elite, the World Islamic Finance Dialogues gathered 20 market leaders for three roundtable engagements to discuss the industry’s most pressing issues: capital markets, Islamic sustainable finance and investments and digital assets.
The dialogues followed the hugely successful IFN Thought Leadership Dialogues in Dubai and IFN KSA Dialogues in Riyadh...Read More

About the World Islamic Finance Dialogues Report

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.

Download Post Event Report

Dialogues Agenda

9.00 – 9.15

Welcome Remarks

9.15 – 11.00

Dialogue One: Global Islamic Capital Markets, Infrastructure Finance & Private Equity

  • Inflation, a rising interest rate environment and the implications for potential issuers of Islamic capital market products and Islamic facilities.
  • How do Islamic facilities present viable funding options for asset-heavy industries such as transport, and oil and gas?
  • How are Islamic finance structures funding projects and infrastructure?
  • The role of private capital in the Islamic finance markets.
  • Beyond listed Sukuk: what are the opportunities presented by the private placement market?
  • What options do hybrid or combination Sukuk offer issuers?
  • How do Tier 1 and Tier 2 Sukuk offer financial institutions a flexible, efficient and user-friendly way of satisfying regulatory capital requirements, and what do perpetual Sukuk structures offer such issuers?
  • Developing the global Sukuk and Islamic financing market: regulation, hedging, risk and liquidity management instruments.
  • With the demise of LIBOR, is SOFR a good alternative for the Islamic finance market?
  • The evolution of Shariah compliant fund and collective investment schemes: ETFs, Sukuk, leasing and trade finance funds.
  • The outlook for Shariah compliant direct real estate investment and private equity.
  • The role of technology and marketplace financing in Islamic finance.

Moderator:

Lilian Le Falher, Executive Manager, Head of Treasury and Capital Markets, Kuwait Finance House (Bahrain)

Panelists:

Elina Mohamed, Group General Counsel, nogaholding
Husain Alkhaja, GCC Regional Director, DDCAP
Ijlal Alvi, CEO, International Islamic Financial Market
Imad Ali, CEO, Citi Islamic Investment Bank
Mohamed Al Shehab, Vice President, Corporate Finance and Investor Relations, nogaholding
Nitish Bhojnagarwala, Vice President – Senior Credit Officer, Financial Institutions Group, Moody’s Investors Service
Wesam Baqer, Head of Coverage, Wholesale Banking, Gulf International Bank

11.00 – 11.15

Coffee

11.15 – 12.45

Dialogue Two: Islamic Sustainable Finance and Investment

  • Opportunity knocks: the exciting prospects for Islamic sustainable finance and investment.
  • Important considerations in the development of efficacious Islamic sustainable investment products.
  • Understanding the structure and benefits of transition, sustainable and sustainability-linked investment products.
  • Islamic sustainable funding options available to asset-heavy industries.
  • Managing important sustainable investment regulatory, reporting and disclosure requirements for issuers and investors.
  • Fit for purpose: measuring the long-term benefit of green and sustainable financial investments and avoiding the issue of greenwashing.
  • Stress-testing credit and investment portfolios for climate risk, and the role of regulators.
  • With ESG and sustainability continuing to grow in Islamic capital markets issuance, when will we see the measurement of impact?
  • Are sufficient issuers engaging with independent, third parties to measure green, sustainable and social credentials?
  • Are tax environments in the GCC less conducive toward green issuances?
  • Where does technology play a role in Islamic sustainable finance and investment?

Moderator:

Vineeta Tan, Managing Editor, Islamic Finance news

Panelists:

Luma Saqqaf, CEO, Ajyal Sustainability Consulting
Mujtaba Khalid, Head of the Centre for Islamic Finance, Bahrain Institute of Banking & Finance
Rachid Ettaai, Business Development Manager, General Council for Islamic Banks and Financial Institutions (CIBAFI)
Redha Al Ansari, Head of Islamic Finance Research, Data and Analytics, London Stock Exchange Group
Sabeen Saleem, CEO, Islamic International Rating Agency
Dr Salah Almajthoob, Chairman, Jeyad Advisory
Shahariah Shaharudin, President, Saturna Malaysia

12.45 – 13.00

Coffee

13:00 – 14:30

Dialogue Three: Digital Assets, Digitalization and the Evolution of Islamic Financial Services

  • The digitalization of Islamic financial services: what is working, what is viable and what is not? What do the answers to these questions mean for the evolution of Islamic financial services
  • Does digitalization allow us to better address issues such as product authenticity and the minimization of uncertainty?
  • Is the success of neobanks inevitable, and how will they change the market?
  • How will the development, provision and distribution of digital Islamic financial services evolve in the near term?
  • The importance of recent initiatives by regulators in creating an environment for the enhancement of the domestic financial services sector’s digital infrastructure.
  • The likely effects of bank mergers on the digitization of Islamic financial services.
  • Evaluating regulator-fostered sandboxes: what is on offer, what is beneficial and how successful are initiatives?
  • Beyond retail: developing and distributing effective and attractive Shariah compliant digital wealth management, investment and insurance products.
  • The development of systems and software for Islamic banks: driving scale, integrity and efficiency.
  • The tangible benefits of peer-to-peer lending and equity crowdfunding: how these key technologies can be further applied to today’s banking and financial markets.
  • How are stablecoins, non-fungible tokens, utility tokens, equity tokens and other digital assets being applied to financial markets?
  • What is the potential for new and structured products based on cryptocurrencies for the domestic market: ETFs and complex leverage mechanisms such as DeFi?

Moderator:

Vineeta Tan, Managing Editor, Islamic Finance news

Panelists:

Dr Gulnar Mulla, Head of the Finance Department, University of Technology, Bahrain
Khalid Howladar, Chairman, MRHB DeFi
Mohamad Ameer Al-Dirini, Regional Sales Manager, Global Islamic Banking, Azentio Software
Dr Rizwan Malik, Head – Standards Implementation & Strategic Developments, Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)

14:30

Luncheon and Networking

Dialogues Speakers

Elina Mohamed

Elina Mohamed

Group General Counsel, nogaholding
Elina Mohamed
Elina Mohamed
Group General Counsel, nogaholding
Dr Gulnar Mulla

Dr Gulnar Mulla

Head of the Finance Department, University of Technology, Bahrain
Dr Gulnar Mulla
Dr Gulnar Mulla
Head of the Finance Department, University of Technology, Bahrain

Dr Gulnar Mulla is one of the most distinguished academicians with vast experience in academia, the private sector and the banking industry. She is the head of the Finance Department and also 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 was assigned 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.

Husain Alkhaja

Husain Alkhaja

GCC Regional Director, DDCAP
Husain Alkhaja
Husain Alkhaja
GCC Regional Director, DDCAP

Husain is a vastly experienced banker who has been working within the Islamic financial marketplace for the past 30 years for various highly regarded regional and international financial institutions. Most recently, he held senior executive positions within MFAI (Jersey), a wholly-owned subsidiary of DMI Group. This followed his tenure as COO in the CMA-licensed Gulf Investors Asset Management Company.

Having started his career in banking in Bahrain, Husain was appointed the Regional Director and Head of GCC and Islamic banking at Societe Generale where he was based in Dubai. Prior to returning to Bahrain as CEO of Investment Dar Bank, Husain was the General Manager of ADNIF, the Islamic subsidiary of National Bank of Abu Dhabi.

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.

Imad Ali

Imad Ali

CEO, Citi Islamic Investment Bank
Imad Ali
Imad Ali
CEO, Citi Islamic Investment Bank

Mohammed Imad Ali is Chief Executive Officer of Citi Islamic Investment Bank E.C. (CIIB), a locally incorporated subsidiary of Citigroup based in Bahrain, which is engaged in wholesale banking based on Islamic principles and serves as the global headquarter for Citigroup’s Islamic banking business. Imad is the Executive Board Member of CIIB and also head of the Murabaha desk, which is part of TTS’s business. Previously, Imad held the role of head of the Islamic control function for CIIB for 11 years.

Prior to CIIB, Imad worked in the Shariah compliance department of HSBC Amanah in Dubai, advising on Shariah matters. Prior to working at HSBC Amanah, Imad worked as a lawyer with the Islamic finance team at Dentons in Dubai. Imad obtained his master’s degree in comparative laws from Islamic University Malaysia, specializing in Islamic banking jurisprudence and is currently finalizing his Ph.D. He has read law and is admitted as a lawyer in India.

Khalid Howladar

Khalid Howladar

Chairman, MRHB DeFi
Khalid Howladar
Khalid Howladar
Chairman, MRHB DeFi

Khalid Howladar is the chairman of MRHB DeFi, the world’s first ethical and faith-based decentralized finance platform. In addition, Khalid is an active innovation angel, advisor and board member for a diverse mix of fintech, crypto, edtech and Islamic economy start-ups through his firm Acreditus Partners. Lastly, he is the senior managing director and head of credit and Sukuk for RJ Fleming & Co, the boutique merchant banking advisory of the Fleming family.

With a rare confluence of financial, tech, social and faith-driven perspectives, Khalid is a recognized authority in his fields and has addressed investors worldwide and audiences at the World Bank, IMF, European Central Bank and Institute of International Finance.

Khalid gained industry prominence from his 15 years at Moody’s Investors Service in London and Dubai culminating as both the global head of Islamic finance and the head of the GCC banking team.

Khalid’s most prominent start-up role was as angel and later chairman of Small Pharma, a pioneering psychedelic UK biotech that successfully made the transition from start-up to a public 2021 listing on the TSXV Canada during his board leadership.

Lilian Le Falher

Lilian Le Falher

Executive Manager, Head of Treasury and Capital Markets, Kuwait Finance House (Bahrain)
Lilian Le Falher
Lilian Le Falher
Executive Manager, Head of Treasury and Capital Markets, Kuwait Finance House (Bahrain)

Lilian Le Falher has 26 years of experience in investment banking. He is an executive manager of Kuwait Finance House, 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 in banking and finance from Toulouse Business School (France) and he is a CFA charterholder.

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).

Mohamad Ameer Al-Dirini

Mohamad Ameer Al-Dirini

Regional Sales Manager, Global Islamic Banking, Azentio Software
Mohamad Ameer Al-Dirini
Mohamad Ameer Al-Dirini
Regional Sales Manager, Global Islamic Banking, Azentio Software

Mohamad Ameer Al-Dirini is a qualified digital transformation as well as a seasoned IT professional, with an entrepreneurial track record, having a rich and extensive experience of over 33 years, including more than 22 years with international (Australia, GCC & Levant) tenure, involved in diverse functions of enterprise account management and GCC regional business development, specializing in enterprise solutions such as Islamic core banking, digital Islamic banking (internet/mobile), Islamic treasury, Enterprise Resource Planning (ERP), Business Intelligence (BI), Customer Relationship Management (CRM), Enterprise Content Management (ECM), Customer Communication Management (CCM), Robotic Process Automation (RPA), Business Process Management (BPM) and digital marketing systems.

Mohamed Al Shehab

Mohamed Al Shehab

Vice President, Corporate Finance and Investor Relations, nogaholding
Mohamed Al Shehab
Mohamed Al Shehab
Vice President, Corporate Finance and Investor Relations, nogaholding

Mohamed Al Shebab currently holds the role of vice-president of corporate finance and investor relations at the Oil and Gas Holding Company (nogaholding), where he is responsible for securing funding for capital and investment opportunities. Mohamed’s role also includes setting and executing the financing strategy for the group, as well as evaluating future investment opportunities in line with the group’s sustainability strategy and maintaining investor relations for nogaholding portfolio companies. Mohamed is also involved in the corporate and ESG strategy for the group, and leads the risk management function at nogaholding.

Mujtaba Khalid

Mujtaba Khalid

Head of the Centre for Islamic Finance, Bahrain Institute of Banking & Finance
Mujtaba Khalid
Mujtaba Khalid
Head of the Centre for Islamic Finance, Bahrain Institute of Banking & Finance

Mujtaba Khalid joined BIBF in 2015 and brings a diversified range of experience spanning government and private sector advisory, establishing effective governance frameworks, Islamic capital market products as well as conducting Islamic finance training and capacity building programmes.

Mr. Khalid’s experience includes working for the UK-based Islamic Finance Council where he was involved in developing the Islamic finance governance frameworks for central bank bodies, providing capacity building and training, structuring Islamic finance products for one of the UK’s largest credit unions, providing investment strategy for Islamic Relief International’s Waqf (trust) fund, research for the Scottish government on the viability of Sukuks to fund alternate energy projects among other work.

He has also helped to establish the Centre of Islamic Finance at COMSATS Pakistan – one of Pakistan’s largest public sector universities. At COMSATS he was part of the team that organised Pakistan’s largest international Islamic finance conference.

Mujtaba has a BSc (hons) from the London School of Economics and Political Science, and an MSc in Investment Analysis from The University of Stirling. He also has three professional Islamic finance qualifications which include the CIMA Islamic Finance Diploma, Islamic Banking and Finance qualification from the State Bank of Pakistan and the CIFP from INCEIF based in Malaysia.

Academic Credentials

  • Bsc (Hons) Accounting and Finance, London School of Economics and Political Science
  • Msc Investment Analysis (CFA Programme partner), University of Stirling

Professional Qualifications / Affiliations

  • Islamic Finance Diploma, CIMA
  • Islamic Banking & Finance Qualification, State Bank of Pakistan
  • Chartered Islamic Finance Professional (CIFP), INCEIF – The Global University of Islamic Finance
Nitish Bhojnagarwala

Nitish Bhojnagarwala

Vice-President – Senior Credit Officer, Financial Institutions Group, Moody’s Investors Service
Nitish Bhojnagarwala
Nitish Bhojnagarwala
Vice-President – Senior Credit Officer, Financial Institutions Group, Moody’s Investors Service

Nitish Bhojnagarwala is a vice-president–senior credit officer with Moody’s Financial Institutions Group. Based in Dubai, Nitish covers a portfolio of large conventional as well as Islamic financial institutions in the Middle East, Africa and Turkey.

Nitish joined Moody’s in 2011, and has led Sukuk roundtables and conducted workshops on banking and Islamic finance at various conferences in the Middle East, Europe and Asia. Nitish has also authored several research pieces, with a focus on regional banking, credit issues and issuer-in-depths for conventional as well as Islamic banks.

Prior to joining Moody’s, Nitish spent five years at Tamweel in the Treasury. He has also worked for KPMG in the UAE, where he covered financial institutions. Nitish holds an MBA from S P Jain Institute of Management & Research, with a major in finance (investment banking).

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.

Redha Al Ansari

Redha Al Ansari

Head of Islamic Finance Research, Data and Analytics, London Stock Exchange Group
Redha Al Ansari
Redha Al Ansari
Head of Islamic Finance Research, Data and Analytics, London Stock Exchange Group

Redha is the Head of Research at London Stock Exchange Group covering financial markets across MEA. Redha has spent the last 15 years supporting corporates, government entities, multilateral organizations, and leading financial institutions to achieve their goals and aspirations.

Redha’s main responsibility is the delivery of market research, thought leadership and knowledge solutions across a wide range of sectors and products, including Islamic finance, capital markets, sustainability, digitization, transformation, and financial markets in general.

Redha is currently pursuing his Doctorate degree at Heriot-Watt University. Previously, he has obtained his MBA from New York Institute of Technology and BSc in Finance from University of Louisiana at Lafayette, USA.

Dr Rizwan Malik

Dr Rizwan Malik

Head – Standards Implementation and Strategic Developments, Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
Dr Rizwan Malik
Dr Rizwan Malik
Head – Standards Implementation and Strategic Developments, Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)

Dr Rizwan Malik has over 10 years of experience in investment allocation, advisory, research, strategy and business development. Presently, he heads the standards implementation and strategic developments department at AAOIFI — a global Islamic finance standard-setter within the Islamic finance industry+. He is an associate editor of peer-reviewed technical bulletin Journal for Islamic Finance Accountancy and a member of the working group for a standard on investment funds at AAOIFI.

Dr Rizwan is a member of the working groups for a new standard titled ‘Core Principles for Islamic Finance Regulation’ at the IFSB as well as ‘Islamic Finance National Accounts’ — a joint-initiative of the IMF and the UN. He has contributed to various conferences and events around the world and has written book chapters and articles in international publications. 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.

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.

Dr Salah Almajthoob

Dr Salah Almajthoob

Chairman, Jeyad Advisory
Dr Salah Almajthoob
Dr Salah Almajthoob
Chairman, Jeyad Advisory

Dr Salah AlMajthoob is a senior executive with 20 years of professional experience in investment and banking. His investment, banking and finance expertise includes investment banking, retail banking, corporate finance, venture capital, private equity, wealth management, fintech, and Islamic finance product development.

He is founder and chairman of Jeyad Advisory, a boutique financial and technology advisory firm based in Bahrain.

Prior to that he was the CEO of GLFL, a financing company in Saudi Arabia.

Also prior to that he was the Managing Director-Special Projects at Bank Alkhair, an investment bank in Bahrain where he was instrumental in restructuring the bank and reassessing its investment portfolio.

He previously worked at Tharawat Investment House, Bahrain, as the Chief Operating Officer (COO) and at Kuwait Finance House (KFH), Bahrain.

Dr Salah has a PhD in Computer Engineering from Virginia Tech, USA and an MSc and BSc in Electrical Engineering from King Fahd University of Petroleum and Minerals, Saudi Arabia. He also has an MBA from University of Bahrain. Dr. Salah is a Certified Islamic Professional Accountant (CIPA) from AAOIFI.

Dr Salah is a well-known trainer in finance, Islamic finance, financial modeling, and leadership.

Shahariah Shaharudin

Shahariah Shaharudin

President, Saturna Malaysia
Shahariah Shaharudin
Shahariah Shaharudin
President, Saturna Malaysia

Shahariah Shaharudin is the president of Saturna, a wholly-owned subsidiary of Saturna
Capital Corporation. She received her Bachelor of Arts degree in business studies from Knox College, Illinois and a Master of Arts degree in economics from University of Illinois, Springfield.

Shahariah has more than 30 years of experience in the areas of fund management, stockbroking and commercial banking. She started her career in a commercial bank with extensive experience in retail banking, trade finance and corporate banking and later joined a stockbroking company, overseeing both the stockbroking and futures broking business. She also worked for a fund management house under the Strategic Business and Market Development Division where her core responsibility was sourcing business and servicing both retail and wholesale clients. She was CEO and an executive director of Kenanga Islamic Investors until joining Saturna in October 2018.

Shahariah speaks at Islamic finance and ESG conferences. She is passionate about Islamic investment and has participated in the Brunei Roundtable; presented in events in Shenzen, China; and was nominated in the ‘Top 10 List for Women in Malaysian Financial Institutions’ by a local magazine.

Shahariah is currently a holder of the Capital Market Services Representatives License for fund management.

Vineeta Tan

Vineeta Tan

Managing Editor and Director, Islamic Finance news
Vineeta Tan
Vineeta Tan
Managing Editor and Director, Islamic Finance news

Vineeta Tan is Managing Editor and Director of REDmoney Group, one of the world’s longest-running Islamic finance media houses. Vineeta oversees REDmoney Group’s stable of products including Islamic Finance news, IFN Fintech and Islamic Sustainable Finance & Investment. With over a decade of experience in the journalism and publishing industry, Vineeta specializes in ethical and Islamic finance as well as fintech reporting and analysis covering regions including the Middle East, Asia, Africa and Europe. As managing editor of IFN, Vineeta leads the editorial direction and business development of IFN and its sister publications in addition to authoring reports, producing podcasts and conducting video interviews. She has interviewed senior industry players, key stakeholders and senior dignitaries including the finance/economic ministers of the Ivory Coast, Sri Lanka and the Maldives. Vineeta is a regular on the international conference circuit as both a moderator and speaker. She has an MBA and is trained in Journalism and Sociology. Vineeta also holds the Islamic Finance Qualification awarded by the Chartered Institute for Securities & Investments, UK.

Wesam Baqer

Wesam Baqer

Head of Coverage, Wholesale Banking, Gulf International Bank
Wesam Baqer
Wesam Baqer
Head of Coverage, Wholesale Banking, Gulf International Bank

Wesam Baqer recently joined Gulf International Bank BSC from Bahrain Islamic Bank BSC, where he was Chief Corporate and Institutional Banking Officer. Wesam brings over 20 years’ banking experience, including roles at NBK and HSBC, prior to joining BISB. He holds an MSc in Finance and Investment Management (Hons.) from the University of Aberdeen, Scotland, and a BSc in Business Administration from the University of Bahrain. Wesam has obtained an Executive Management Leadership diploma from Darden Graduate School of Business at University of Virginia, USA. He is a Certified Banking Arbitrator, a Certified Financial Adviser (CeFA) and a member of the Chartered Institute of Bankers.

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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PARTNERS

Azentio Software

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Azentio provides mission-critical software products across Asia Pacific, the Middle East, Africa and India to banks, financial services providers and insurance companies. It also provides enterprise resource planning or ERP solutions to mid-market enterprises. The company’s flagship platforms include Azentio ONEBanking, Azentio ONECapitalMarkets, Azentio ONEInsurance and Azentio ONEERP. The flexibility that comes from its software platforms allows a host of applications to work with a single source of data and equips clients with workflow, analytics, document management and flexible integration mechanisms. The company has over 1,000 clients in more than 60 countries, offices in 9 countries and more than 2,400 employees globally. Azentio Software Private Limited is wholly owned by Apax Partners: www.azentio.com

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DDCAP Group

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Founded in 1998 and headquartered in London, with an office in Dubai and a presence in both Saudi Arabia and Malaysia, DDCAP is a leading provider of asset facilitation services and financial technology and system solutions across a diverse range of Shariah compliant products, asset classes and instruments in both the primary and secondary markets. DDCAP’s wholly-owned subsidiaries include DD&Co and DDGI. DDCAP has an extensive track record within the Islamic finance industry, employing over 35 professionals with broad and complementary skill sets drawn from diverse financial industry backgrounds, focused principally on providing service to Islamic financial market participants around the world. DDCAP has its own Shariah supervisory board comprising esteemed Shariah scholars from Saudi Arabia, Malaysia and Kuwait. DDCAP’s multi-award-winning Shariah compliant ETHOS Asset Facilitation Platform is a bespoke, real-time trade and post-trade services platform providing 24-hour coverage, enabling clients worldwide to purchase from a diverse asset inventory, including commodities, via a secure, web-based portal.

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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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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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Moody’s Investors Service

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Moody’s is a global risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions and fair access to information open the door to shared progress.

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STANDARDS AND KNOWLEDGE PARTNERS

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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In The News

IFN Monthly Review: May – Sovereign issuers take top billing

Sovereign Sukuk issuers took center stage this month, with Nigeria, Bangladesh and Oman returning to the market and Pakistan launching...

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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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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.

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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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