Islamic Finance Prospects, Challenges and Potential Traction in Europe

Date: 10th June 2015 Venue: Chambre de Commerce, Luxembourg


09:00 - 09:15
Keynote Address
Pierre Gramegna – Minister of Finance, Luxembourg
09:15 - 10:15
Key Growth Markets for Islamic Finance in Europe
Market leaders and key regulators share their views on the rise of new markets and asset classes and which mature markets will continue to thrive
  • Impact of new regulations on growth in European markets
  • Environmental impact: How will the current economic environment in the Eurozone affect the growth of Islamic investments?
  • Cross border collaboration: Is there coordination at the European level?
  • Will sovereign issuances in 2014 lead to corporate Sukuk in 2015?
  • How will geopolitics shape Europe’s Islamic finance agenda?
Moderator: Rachid Ouaich – Managing Director, eethiq Advisors, Luxembourg
Panelists: Alex Armstrong – Managing Director, Head of Financial Institutions & Structured Finance, QInvest, Qatar
Dr Manfred Dirrheimer – Chief Executive Officer, FWU Group, Germany
Michel Vermaerke – Chief Executive Officer, Belgian Financial Sector Federation (Febelfin)
Robert Scharfe –
Chief Executive Officer, Luxembourg Stock Exchange 
Stella Cox
– Managing Director, DDCap, United Kingdom
Professor Dr Volker Nienhaus – Visiting Professor, Henley Business School, University of Reading, United Kingdom
10:15 - 10:30
Keynote Presentation: Where do Shariah Funds fit in to the grand scale of the global Asset Management industry?
Claude Kremer – Partner, Head of Investment Management, Arendt & Medernach
10:30 - 11:00
Coffee & Networking
11:00 - 11:15
Presentation: Cross Border Linkages and Opportunities between Asia and Europe
Badlisyah Abdul Ghani – Chief Executive Officer, Group Islamic Banking, CIMB Group
11:15 - 12:00
What’s Trending in the European Asset Management Industry?
As Islamic finance continues to proliferate in both the Muslim and non-Muslim worlds it is becoming clear that certain funds and asset classes appeal to specific investors in specific markets. What are high net worth and institutional investors in Europe seeking and are these trends likely to change in the coming years? As the market continues to expand, what products will appeal to European investors?
  • Outlook for equity, PE funds, i-ETFs, fixed income funds and index-linked investments
  • Potential for wealth management products and Shariah compliant pension funds in European markets
  • What impact will global economic trends have on real estate investments in Europe?
  • Which real estate markets are expected to outperform and why?
  • To what extend do tax developments impact the way of structuring real estate and other investment funds?
  • Investment in commodities in light of recent economic events: What trends are developing and what risks should investors be aware of?
  • What needs to be done to develop a market for Takaful retirement products and funds?
Moderator: Marco Lichtfous – Partner, Advisory & Consulting, Deloitte Luxembourg
Panelists: David Swan – Executive Vice President, Head of Real Estate Investment, Gatehouse Bank, United Kingdom
Magdy Eissa – Vice President, IdealRatings
Marcus Peter
– Partner, Bonn & Schmitt
Michael Orzano – Director, Global Equity Indices, S&P Dow Jones Indices, USA
Pierre Kreemer – Partner, Head of Real Estate & Infrastructure, KPMG Luxembourg
12:00 - 12:15
Presentation: Reviewing Recent Changes to Legal & Regulatory Infrastructure Impacting Islamic Finance in Europe
Michael Rainey
– Partner, King & Spalding, United Kingdom
12:15 - 12:25
Presentation: What Initiatives Exist to Develop Talent and Human Capital in the Islamic Finance Services
Dr Amat Taap Manshor
 – Chief Executive Officer, Finance Accreditation Agency, Malaysia
12:25 - 13:30
13:30 - 14:30
Market Snapshot: European Markets on the Rise
We ask Islamic finance market makers from across Europe to offer insight into why specific jurisdictions are leading the pack and what sector-specific development can be expected from these markets. This rapid-fire roundtable will offer a birds-eye view of up-and-coming European markets and what they offer the Islamic investor.
This session will cover: France, Germany, Russia, Turkey, Tatarstan, Switzerland, the CIS region
Moderator: Lawrence Oliver – Deputy Chief Executive Officer, DDCAP Group, UK
Panelists: FRANCE - Anouar Hassoune – Head of Research and Strategist for MENA, The Bank of Tokyo Mitsubishi UFJ
BELGIUM - Ines Wouters – Partner, Legisquadra, Belgium
SWITZERLAND - John A Sandwick – General Manager, Safa Investment Services, Switzerland
RUSSIA - Linar Yakupov – President, Association of Regional Investment Agencies & President – Islamic Business & Finance Development Fund, Russian Federation
GERMANY - Dr Johannes Engels – Senior Advisor, The Federal Financial Supervisory Authority (BaFin), Germany
14:30 - 14:40
Presentation: The Sukuk Investor Landscape
Mehdi Boulfoul – Assistant General Manager – Head of Trading & Investments, Barwa Bank
14:40 - 15:15
Crowdfunding: The Birth of a New Asset Class
Crowdfunding is big news in both the Islamic and conventional markets, with a groundswell of interest that has seen legislation introduced in the US, UK and several other jurisdictions as nations legitimize what is promoted as one of the few truly egalitarian and accessible forms of entrepreneurial start-up funding. The story has already swung into gear on the conventional side with a plethora of successful case studies – and with principles that perfectly match the platform of Shariah compliant SME support, is it a trend tilting on the edge of enormity for the Islamic world as well?
Moderator: Lauren McAughtry – Managing Editor, Islamic Finance news
Panelists: Ahmed Elkhodary – Development Strategist, Islamic Development Bank
Anass Patel
– President, 570 Asset Management, France

Bruce Davis – Managing Director, Abundance Generation, United Kingdom
Michael McDowell – Consultant, Sapphire Capital Partners, United Kingdom

Sylvain Makaya - Head of Strategy & Solutions, Idinvest Partners, France
15:15 - 16:05
Shariah-Compliant Capital Financing: New Assets and Structures
  • A review of the applicability and success of recent structures: Covered, convertible, exchangeable, perpetual and hybrid Sukuk
  • Recent regulatory updates and central bank guidelines affecting the use of Shariah compliant capital financing in Europe
  • Will there be a shift towards the use of renewable energy, environmental assets and other intangible assets
  • Are there further cross border Sukuk transactions in the pipeline?
  • Reviewing significant recent transactions
Moderator: Imam Qazi – Partner, Foot Anstey, UK
Panelists: Badlisyah Abdul Ghani – Chief Executive Officer, Group Islamic Banking, CIMB Group
Harris Irfan – Managing Director, European Islamic Investment Bank, United Kingdom
Mark Smyth – Chief Investment Officer, Tawreeq Holdings
Dr Mohamed Damak – Director – Global Head of Islamic Finance, Standard & Poor's, France
Mustafa Aramaz – Senior Vice President, Group Head – International & Investment Banking, Kuveyt Türk Participation Bank, Turkey

16:05 - 17:00
SRI and Social Entrepreneurship: What’s on the Cards for Europe?  
  • Distinguishing between SRI and social entrepreneurship investment and how these sectors can work together to expand their appeal and influence?
  • Who and what is driving the SRI and social entrepreneurship sector? What new products and funds are likely to surface as SRI continues to evolve?
  • Islamic & ethical investing: What more needs to be done to promote Islamic as ethical investing to broaden its appeal?
  • What is the investment mandate for ESG and SRI investors and will this change over time?
  • A review of significant transactions in social impact financing and socially responsible investments
Moderator: Lauren McAughtry – Group Managing Editor, Islamic Finance news
Panelists: Annemarie Arens – General Manager, LuxFLAG, Luxembourg
Kamran Sattar
– Chief Executive Officer & Co-founder, Portillion Capital, UK
Kavilash Chawla – Partner, Bâton Global, USA
Lawrie Chandler – Director, Edale Group
Tarek Selim – Chief Operating Officer, Arabesque Asset Management, UK
17:00 - 17:05
Closing remarks
17:05 - 17:30
Coffee & Networking