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Saturday, 12 March 2016

Focus on supporting development through sukuk

The Islamic Financial Services Board (IFSB) is planning an IFSB Seminar on Supporting Development through Sukuk: Prospects and Initiatives in Cairo, Egypt.
 
The event, which will take place on April 10, will be held in conjunction with the IFSB Annual Meetings and Side Events 2016, which the Central Bank of Egypt is hosting.
 
This one-day seminar has been designed to provide an interactive environment enabling speakers and participants to explore the prospective role of Sukuk in social and economic development. 
 
To this end, the seminar will offer perspectives of sukuk that will revolve around a number of key issues. 
 
Firstly, tax, legal and regulatory issues on the development of the Sukuk market will be considered as well as the lessons from recent experience. 
 
Secondly, the potential role of the Sukuk market in addressing the global infrastructure funding gap, both in the developed and developing world, whilst tapping into the ethical investor market. 
 
Thirdly, the manner by which governments can harness the Sukuk market to overcome their fiscal constraints and the ways the sukuk market can help to trigger greater financial sector development and capabilities for risk management by both private and public sector entities. 
 
Finally, the Seminar will discuss the potential for synergy in the roles of policy-makers, regulators and market players in helping to deepen the sukuk market.
 
More specifically, the topics of discussion in the seminar will be Development of the Sukuk Sector: Legal and Regulatory Considerations; Sukuk for Budgetary and Financial Sector Support: Structures and Country Examples, which includes a Special Presentation by the Islamic Development Bank; Sukuk for Infrastructure Financing: Prospects and Case Studies; and Panel Discussion on Building Synergies for Sukuk Issuances.
 
On April 11, the IFSB will also be organising its eighth Public Lecture on Financial Policy and Stability with Dr Sami Al-Suwailem, head, Financial Product Development Center, Islamic Development Bank to deliver the lecture. 
 

The IFSB Public Lecture series provides a platform for regulators and industry players to highlight pertinent issues facing the Islamic financial services industry.


(Trade Arabia / 12 March 2016)
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Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Consultant-Speaker-Motivator: www.ahmad-sanusi-husain.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com

Zakat: Free auto-rickshaws given to seven people

FAISALABAD:Free auto-rickshaws were given to seven men in a ceremony organised at the TMA Hall on Tuesday. The rickshaws were purchased by the district Zakat and Usher Department.






The auto-rickshaws were handed over to Irfan ul Haq, Liaqat Ali, Nadeem Arif, Nasir Zahoor, Riaz Ahmed, Rasheed Ahmed and Zahid Hussain. MNA Begum Khalida Mansoor and MPA Sheikh Ijaz Ahmed, who is also on the governing board of the Faisalabad Development Authority, were the chief guests on the occasion.
Zakat and Usher District Chairman Nazir Hussain Bajwa was also present on the occasion.
Khalida Mansoor said the government had taken practical steps to provide employment opportunities to financially-distressed people in the province. By providing free auto-rickshaws to deserving people in the district, the government hoped to provide them a respectable source of living. “They would not have to rely on the Zakat fund for sustenance.”

She said that auto-rickshaws had been given to people who fulfilled the criteria and were aware of traffic laws. She said they also had driving licences. “It is our duty to uplift the poor, needy and those without shelter and to make them active citizens of the society.

(The Express Tribune / 12 March 2016)
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Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Consultant-Speaker-Motivator: www.ahmad-sanusi-husain.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com

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