More than 400 industry leaders from the international Islamic funds and investments industry are set to gather at the two-day 7th Annual World Islamic Funds and Financial Markets Conference (WIFFMC 2011), opens today (Monday).
Held under the theme “Achieving International Scale: Creating Vibrant Islamic Financial Markets and Re-Invigorating the Islamic Investments Industry”, the event will set the stage for critical discussions that will evaluate strategies to re-ignite growth and achieve a critical mass for the global Islamic funds and investments industry.
“There is significant potential for Islamic investments to play a more active role in mobilizing funds across regions and financial centres. Opportunities exist to use Islamic funds and investments to deepen global connectivity thus contributing to the current efforts aimed at achieving global scale for the industry,” David McLean, Managing Director of the World Islamic Funds and Financial Markets Conference, said.
Held under the strategic partnership of the Central Bank of Bahrain, WIFFMC which has over the years become the world’s most significant and influential annual platform for the global Islamic investments industry leaders to converge, will this year feature critical discussions and debates that are vital to successfully support the next phase of development for the global Islamic funds and investments market.
WIFFMC 2011 will be officially inaugurated on the 26th of September with an opening keynote address by Abdul Rahman Mohammed Al Baker, Executive Director Financial Institutions Supervision, Central Bank of Bahrain who will discuss key regulatory initiatives to strengthen the Islamic investments industry.
“Despite the strong potential for Shari’ah compliant funds and investment instruments in the global market, a number of economic, legal, and regulatory challenges remain which need to be addressed to further strengthen growth. It is critical to facilitate harmonization of standards and practices globally so that the industry can realize its full potential in the international markets,” Abdul Rahman Mohammed Al Baker, Executive Director Financial Institutions Supervision, CBB, said.
“With the strong and robust regulatory frameworks adopted by the Central Bank of Bahrain, Bahrain will continue to be one of the leading financial centers in the region and a global leader in Islamic finance,” he added.
“We are delighted to be the strategic partner of the World Islamic Funds and Financial Markets Conference and we hope that the discussions at this event will play a critical role in harmonizing the architecture of the global Islamic funds and investments markets.”
“Bahrain takes pride in its role as a pioneer and leader in the Islamic Finance sector and we are delighted to be hosting the Annual World Islamic Funds & Financial Markets Conference. It is vital that the industry continues to evolve and grow taking into account the changing economic realities and the wider global Islamic population that will benefit from a strong and dynamic Islamic Finance industry, and bringing together industry leaders at events such as these is an important way of making that happen,” Shaikh Mohammed bin Essa Al-Khalifa, Chief Executive of the Bahrain Economic Development Board (EDB), said.
A key highlight of the WIFFMC 2011 will be the exclusive CEO and Industry Leaders Power Debate session led by internationally respected CEOs and industry leaders. The session featuring Oscar Silva, Chief Executive Officer of Global Banking Corporation (GBCORP); Moinuddin Malim, Chief Executive Officer of Mashreq Al Islami; Geert Bossuyt, Chief Executive Officer of Dar Al Istithmar; Dr. Salah Addeen A Qadar Saeed, General Manager – Credit & Risk Management at Bahrain Islamic Bank, Samad Sirohey, Chief Executive Officer of Citi Islamic Investment Bank, and Fadi Salim Al Faqih, General Manager of Bank of Khartoum will analyze and discuss new strategies for re-igniting growth in Islamic financial markets. The session will also assess the internationalization of the Islamic investments market and will address key challenges of aligning business strategies with the new economic realities.
The eagerly anticipated Ernst & Young Islamic Funds and Investments Report 2011 will be launched exclusively onsite at a special plenary session at the event. The conference will also host a gala dinner and award ceremony on the 26th September wherein the prestigious WIFFMC 2011 Islamic Investments institution of the Year Award will be announced.