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Monday, 14 March 2016

Central Bank of Egypt to host IFSB seminar on Sukuk

This one-day seminar is 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.
The topics of discussion in the Seminar are:
  • 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
  • Panel Discussion on Building Synergies for Sukuk Issuances
Chairpersons and speakers confirmed in this Seminar are:

  • Jaseem Ahmed, Secretary-General, IFSB
  • Dr. Ahmed Al Gebali, Director, Islamic Financial Services Department, Islamic Development Bank
  • Ashraf Mohamed, Assistant General Counsel, Asian Development Bank
  • Zainal Izlan Zainal Abidin, Executive Director, Islamic Capital Market, Securities Commission Malaysia
  • Neil Miller, Partner and Global Head of Islamic Finance, Linklaters LLP, United Arab Emirates
  • Dr. Mohamed Damak, Director, Global Head of Islamic Finance, Standard & Poor’s Ratings Services, United Arab Emirates
  • Professor Dr. Ashraf Md. Hashim, Senior Researcher / CEO ISRA Consultancy Sdn Bhd, The International Shari’ah Research Academy for Islamic Finance

(C P I Financial / 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

Islamic finance gains ground in Turkey

Istanbul is on the way to becoming one of the world’s leading finance centers, the head of the city’s stock exchange has said.
“With more investors coming to Istanbul and more cooperation across the world, we will proceed faster with making the city a finance center,” Borsa Istanbul CEO Tuncay Dinc told Anadolu Agency in Bosnian capital Sarajevo on Friday.
Speaking at the inauguration of the Islamic index at the Sarajevo stock exchange, Dinc said Istanbul should be further integrated into world markets.
One of the areas the Borsa Istanbul is leading the world is in interest-free finance, which is compatible with Islam.
Interest-free finance has become increasingly and Turkey has placed particular focus on participation banks that offer finance based on assets.
Vakifbank, Turkey’s third-largest state bank, recently received approval to launch an Islamic banking division, following the opening of Turkey's first state-owned Islamic bank.

“The effect of participation banks in the banking sector is increasing,” Dinc said.

(Albawaba Business / 13 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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