Islamic Finance in Europe: Regulatory Advancements, Growth Potential and Investment Opportunities

IN ASSOCIATION WITH

Date: 26^th June 2014 Venue: DoubleTree by Hilton, Luxembourg

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Advisory Board
- Abradat Kamalpour - Partner, Ashurst
  
  Alain Verbeken - Director, Cross-Border Tax, Deloitte Tax & Consulting
  
  Alberto Brugnoni - Managing Director, ASSAIF
  
  Ammar Dabbour - Managing Director, Excellencia-IM
  
  Andreas Heinzmann - Partner, Bonn & Schmitt
  
  Asim Khan - Managing Director, Khalij Islamic
  
  Ayman Khaleq - Partner, Morgan Lewis
  
  Bishr Shiblaq - Head, Dubai Representative Office, Arendt & Medernach
  
  David Testa - Chief Executive Officer, Armila Capital
  
  Denis Noonan - Vice President, Product Management, Clearstream Banking
  
  Dennis Cox - Chief Executive Officer, Risk Reward Limited
  
  Habib Motani - Partner, Clifford Chance
  
  Harris Irfan - Managing Director, European Islamic Investment Bank
  
  Laurent Marliere - Chief Executive Officer & President, IsFin
  
  Lawrence Oliver - Deputy Chief Executive Officer, DDCap Group
  
  Lawrie Chandler - Director, Wholesale & Institutional, Emirates NBD
  
  Mansur Mannan - Executive Director, Dar Capital
  
  Nigel Denison - Director, Head of Markets and Wealth Management, Bank of London and The Middle East PLC
  
  Philip Churchill - Founder Partner, 90 North Real Estate Partners
  
  Sufian Bataineh - Counsel, OPF Partners
Agenda
Speakers
Sponsors & Partners
Floor Plan
Accommodation
Press Release
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One of IFN’s most anticipated events of the year, the IFN Europe Forum never fails to bring together the Islamic finance experts from all corners of the globe. In 2014, we break from tradition and relocate to the landlocked haven of Luxembourg. This thriving financial business center has, over recent years, propelled itself into the global spotlight for its conducive regulations for the Islamic finance industry.

The 4^th IFN Europe Forum, and 8^th IFN event in Europe, will feature all characteristics of the developing Islamic financial sector throughout the continent. In addition to the host country, Belgium, France, Germany, Ireland, Italy, Kazakhstan, Spain, Switzerland, Turkey and the United Kingdom have all welcomed the Islamic financing industry and continue to develop regulations to allow for a truly level playing field. As Asian and Middle Eastern Shariah based investors continue to seek new opportunities, Europe offers the ideal solution.

With the support from regulators and government-bodies such as Luxembourg for Finance and the Association of the Luxembourg Fund Industry, the 2014, one and a half-day IFN Europe Forum will again be a must attend event.

Presentations & Speeches

Agenda

08:00 - 09:00

Registration

09:00 - 09:05

Opening Remarks

09:05 - 09:20

Opening Keynote Address
Pierre Gramegna - Minister of Finance, Luxembourg

09:20 - 09:35

Keynote Address
Robert Scharfe - Chief Executive Officer, Luxembourg Stock Exchange

09:35 - 10:25

Keynote Panel Session: What is Europe’s Islamic Investment Strategy?
With increased regulatory efforts in major European financial markets, growing interest from Eastern Europe and the CIS region and a heightened awareness of socially responsible investing across the continent, what will Europe’s Islamic finance landscape look like in the coming year? Which markets are likely to lead and which sectors will flourish? How can regulatory optimism be converted into actual market activity?

What can be done to attract conventional issuers and fund managers to Europe’s Islamic finance offerings
Discussing recent and anticipated Islamic capital market transactions in Europe
How global investment trends will shape Europe’s Islamic funds and asset management industry
Filling the gap in conventional finance with Shariah compliant cross border trade finance products
Outlook for project finance opportunities in Europe: Infrastructure and PPE, renewable energy, LNG

Moderator:	Stella Cox - Managing Director, DDCAP Group, United Kingdom
Panelists:	Badlisyah Abdul Ghani - Chief Executive Officer, CIMB Islamic, Malaysia Harris Irfan - Managing Director, European Islamic Investment Bank, United Kingdom Jonathan Grosvenor - General Manager, Global Financial Markets, KBL European Private Bankers, Luxembourg Rachid Ouaich - Managing Director, eethiq Advisors, Luxembourg

10:25 - 10:55

Networking Break

10:55 - 11:35

European Transaction Roundtable: Discussing Key Success Factors of Europe’s Prominent Deals
We invite the region’s most successful issuers to discuss key trends, features and success factors of the year's most prominent deals. Why did they choose to raise funds Islamically? What drove the success of the issuances and what made these deals unique? In hindsight, what would these issuers have done differently?

AK BARS US$100 million Commodity Murabaha

Moderator:	Professor Dr Volker Nienhaus - Visiting Professor, Henley Business School, University of Reading, United Kingdom
Panelists:	Ilya Velder - Managing Director, International Banking, AK BARS Bank Tatiana Kovalenko - Vice President, Corporate & Investment Banking, Citi Russia

FWU Group US$100 million Sukuk Wakalah

Moderator:	Professor Dr Volker Nienhaus - Visiting Professor, Henley Business School, University of Reading, United Kingdom
Panelists:	Ayman A. Khaleq - Partner, Morgan, Lewis & Bockius Dr Markus E Fischer - Member of the Executive Board, Finances, FWU Group

11:35 - 11:50

Keynote Address
Jaseem Ahmed - Secretary General, Islamic Financial Services Board

11:50 - 12:05

Findings of The Luxembourg Dialogue Ashraf Ammar - Senior Manager, Deloitte

12:05 - 12:25

Presentation: A Regulatory & Tax Framework Review in Key European Markets
Ashraf Ammar - Senior Manager, Deloitte

Download presentation

12:25 - 13:30

Luncheon

13:30 - 14:15

Enabling Regulations: Developing the Legal, Tax and Regulatory Landscape for Islamic Finance in Europe
As the market develops, various European jurisdictions are now emerging as specialists in specific sectors aided by regulations to support their growth. The UK has positioned itself as a prominent real estate center, Turkey as a hub for Sukuk while Luxembourg and Ireland are becoming renowned centers for Islamic funds. We ask legal, tax and regulatory specialists to offer their opinion on the vast and varied regulations driving Islamic investments in key European Islamic finance markets and the value proposition each market offers potential investors.

Moderator:	Neil Miller - Global Head of Islamic Finance, Linklaters
Panelist:	Abradat Kamalpour - Partner, Ashurst, United Kingdom Alain Pithon - Secretary General, Paris Europlace, France Sufian Bataineh - Counsel, OPF Partners, Luxembourg Valentine Baudouin - Associate, Kramer Levin, France

Breakout Session: Open for Registration

14:30 - 15:15

Islamic Finance and Global Food Security

Panel Discussion: Global Food Security: What Role can Islamic Finance Play in Developing the Halal Food and Agribusiness Sectors

Understanding the economics of funding global food security: Current state of play and challenges ahead
Discussing the deployment of resources needed to address the global food security issue: research, technology transfer and capacity building
Access to funding: Ensuring that the Halal agribusiness and food sectors are funded on ethical and sustainable investment principles
Can the establishment of an Islamic trust (Waqf) make a meaningful difference in alleviating the challenges faced in addressing food security
Multilateral help: How can multilateral agencies contribute to the development of the industry

Panelists:

Abradat Kamalpour - Partner, Ashurst, United Kingdom
Catherine Woo – Investment Director, UK & Europe, State Government of Victoria, Australia
Massoud Janekeh - Head of Islamic Capital Markets, Bank of London and The Middle East, United Kingdom
Torsten Böhler - Managing Director, Abacus Emerging Markets, United Kingdom

There are limited seats at this breakout session. To reserve a seat please email Florence.Loo@REDmoneygroup.com

Closed Door Event, By Invitation Only

14:00 - 15:30

CIMB Roundtable

14:15 - 15:00

Advancing Europe’s Sustainable Growth in Islamic Finance: A View from Key European Markets
With political will, regulatory support and stakeholder commitment successfully instituted, Europe appears well positioned to become a leading Islamic investment hub. Will these elements ensure the continent’s success? We ask global Islamic finance thought leaders to weigh in on the following:

Assessing the potential of key European markets as Islamic investment destinations
Which emerging markets, asset classes and sectors are of interest and why
Sovereign, quasi-sovereign and corporate Sukuk issuances - what’s in the pipeline?
Can the Asian and Middle East business models be successfully replicated in Europe?
What are the challenges and potential risks that lie ahead?

Moderator:	Anouar Hassoune - Economist and Strategist for MENA, The Bank of Tokyo-Mitsubishi UFJ, United Arab Emirates
Panelists:	David Testa - Chief Executive Officer, Armila Capital, United Kingdom John A Sandwick - General Manager, Safa Investment Services, Switzerland Noel Lourdes - Executive Director, Amanie Advisors, Ireland

15:00 - 15:15

Presentation: Luxembourg’s Role in Building a Sustainable Islamic Investment Hub in Europe
Pierre Oberle - Business Development Manager, Association of the Luxembourg Funds Industry (ALFI)

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15:15 - 16:00

Islamic Investments and Funds in Europe: Shifting Trends and Winning Strategies
Investment experts and advisors offer their perspectives on potential growth sectors in the Islamic investment universe. What Shariah compliant investment instruments are available in Europe? Which classes and sectors will deliver and what is hindering the development of others?

Tying Shariah compliance to ESG and socially responsible investments: EUSEF, SIIF
Potential for Islamic wealth management products in emerging European markets
Outlook for equity funds, PE funds, i-ETFs, real estate funds and index-linked investments
Creating a market for Shariah compliant pension products

Moderator:	Dr Dominic Selwood - General Counsel & Chief Compliance Officer, Arabesque Asset Management
Panelists:	Bishr Shiblaq - Head, Dubai Representative Office, Arendt & Medernach, Dubai Lutfije Aktan - Director, Audit, Asset Management, KPMG Luxembourg Dr Mahnoosh Mirghaemi - Managing Director, GlobIQ, Switzerland Nicolas Limbourg - Chief Executive Officer, Vitis Life, Luxembourg

16:00 - 16:45

Attracting Foreign Investment: Key Sectors and Asset Classes

Opportunities for investment in Europe’s Halal food, fashion and tourism sectors
Product innovation and opportunities in the Islamic real estate sector: Real estate-backed Sukuk, UK’s residential property sector, opportunities in emerging European markets
Creating a cross border distribution strategy for funds products and government Sukuk

Moderator:	Massoud Janekeh - Head of Islamic Capital Markets, Bank of London and The Middle East, United Kingdom
Panelists:	Kader Merbouh - Special Advisor on Islamic Finance, Paris Europlace, France Marcus Peter - Partner, Bonn & Schmitt, Luxembourg Paul Devonshire - Director, Pramerica Real Estate Investors, Germany Stefano Padovani - Partner, NCTM, Italy