Strategies to sustain and enhance the prolific growth of the multi-billion dollar Islamic finance sector will be in focus at the International Islamic Finance Forum (IIFF) Europe which opens tomorrow (November 13th) at the Swissotel in Zurich, claimed event organisers, the Institute for International Research (IIR).
The Forum, has attracted over 200 industry professionals who will be addressed by more than 50 expert speakers over two days, with three dedicated post conference workshops. Islamic Finance has emerged as a global force to be reckoned with, many wealthy Muslims demanding Sharia’a compliant financial products.
Forum Director, Christianna Tsiterou, commented, “Islamic banks have a combined market capitalisation of US$ 13 billion, assets worth US$ 265 billion, investments in excess of US$ 400 billion and deposits of US$ 202 billion. However when you consider that the combined wealth alone of the 300,000 millionaires in the Middle East is US$ 1.4 trillion, there is still enormous potential.”
The Forum will examine a wide range of Islamic Financial issues, such as Islamic bonds, the mortgage market, investment banking, wealth management and private banking, risk management, project financing and the fast developing Takaful funds. Other interesting facets to be debated will be Islamic accounting, Islamic Life assurance and bancassurance.
Featuring on the IIFF programme is a panel of industry experts who will examine how Western banks can realise Islamic wealth management. The session will aim to identify Europe’s comparative advantage, namely its tradition for advising on tailor-made portfolios and how Islamic has been competing with conventional wealth management. Other highlights include, ‘Emerging Markets In The Islamic Finance Arena - with a Spotlight On Europe’. Another highly relevant address will be made on ‘Meeting The Demands Of High Net Worth Individuals, For Sharia'a Compliant Products In Europe - Exploring Opportunities In The Swiss Private Banking Sector’.
Other key topics on the two-day IIFF conference agenda are asset management and investment banking, corporate finance and regulatory issues and Islamic retail finance. In addition three post-forum workshops will examine the principles and objectives of Islamic Finance, the legal and regulatory aspects of innovative structured Sukuks and Islamic real estate investment.
“If European banks are to increase their Arab deposits, they need to implement the fundamentals of Sharia’a compliance,” stated John Sandwick, Managing Director of Encore Management SA, Switzerland.
Over 50 expert speakers have been recruited including Rushdi Siddiqui, Global Director, Dow Jones Islamic Indexes, USA; Alex Barkawi, Managing Director, SAM Indexes GmbH, Switzerland; Maurice Baudet, Director General Association Suisse des Gérants de Fortune (ASG), Switzerland; Fares Ahmed Mourad Director Asset Management Division, Global Head –Islamic Investments, Credit Suisse, Switzerland.
Notes to Editors:
The industry has given full backing to IIFF Europe with all levels of sponsorship covered. Strategically partnered by Dubai International Financial Centre and in association with Dow Jones Indexes, Credit Suisse has taken platinum status, and Faisal Private Bank, Path Solutions and Nur Advisors have opted for Gold sponsorship. International Turnkey Systems are the technology partner, with Solidarity as Takaful sponsor. Law firm, Vinson & Elkins has also partnered the event.
