Islamic Finance Leaders To Convene At WIBC Bahrain Conference

Industry titans, pioneers and global leaders in the international Islamic banking and finance industry are set to take part a conference to be held in Bahrain from December 1.

The 21st Annual World Islamic Banking Conference (WIBC 2014), under the theme ‘Islamic Finance: Towards the New Paradigm Shift in Global Financial Markets’ will run till December 3 at the Gulf Hotel, under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa, the Prime Minister of Bahrain and will be supported by the Centre Bank of Bahrain, said a statement.

A significant highlight of the event will be the interactive face-to-face dialogue with Professor Datak Rifaat Ahmed Abdel Karim, chief executive officer of International Islamic Liquidity Management Corporation (IILM); one of the genuine pioneers in the industry who will share his perspectives of Islamic finance past, present and future during an onstage conversation.

It will also include a high-profit Industry Leaders’ Power Debate featuring respected CEOs and decision-makers from he key players in the industry. The session will analyse what changes the Islamic finance industry must undergo in order to adapt to a new global paradigm.

Commenting on the Bahrain Economic Development Board’s participation in the conference, Kamal bin Ahmed, Minister of Transportation and acting chief executive of the EDB, said that “Islamic finance is set to play a much more prominent role in the wider economies of both the traditional OIC markets as well as new countries who are exploring the potential of Islamic finance in their markets, such as being witnessed recently in markets from Hong Kong to the UK.

“Bahrain, home to many of the world’s leading Islamic financial institutions, continues to support the further development of the Islamic finance industry on a global scale. The Bahrain EDB has been a strong supporter of the World Islamic Banking Conference (WIBC) for many years and looks forward to engaging leading industry players at the 21st annual edition of WIBC this December in Bahrain to tackle key areas of the Islamic finance sector to help enable the industry to successfully meet the needs of an ever-growing base of investors, customers and end-users.”

WIBC 2014 will be an international gathering with the ‘The World Comes to WIBC Initiative’ convening official delegations representing exciting jurisdictions for Islamic finance including Luxembourg, the United Kingdom, Bahrain and Azerbaijan. The UK Country Interface will be inaugurated by Iain Lindsay, British Ambassador toBahrain.

David McLean, chief executive of the WIBC, said: “For more than two decades now the World Islamic Banking Conference has remained the world’s largest and most influential annual gathering of international leaders in the global Islamic finance industry.

“WIBC 2014 will focus on Moving Islamic Finance Towards the New Paradigm Shift in Global Financial Markets and will tackle key areas in the Islamic finance sector, including regulatory, strategic, Shari’ah, operational and risk transformation to ensure that the industry is able to build critical mass, and further expand its geographic reach and depth.”

“The conference is set to affirm its position as the truly global gathering of Islamic finance leaders by hosting more than 1,300 attendees from over 50 countries who will be joined by over 90 high-profile speakers and 65 market-leading partners and sponsors for a platform that will enable industry leaders to revisit and re-mould the critical success factors that will enable the industry to achieve the next set of milestones,” he said.

The pre-conference seminar on December 1 will focus on a range of themes in a practical framework, enabling a deeper understanding of the critical issues facing the Islamic finance industry, said the statement.

Meanwhile, the World Islamic Banking Competitiveness Report, an original research project led by EY’s award winning Global Islamic Banking Center, will be launched on-site at a specially convened session; while the event will also feature one of the industry’s longest-standing awards ceremony, which will recognise excellence, innovation and pioneering initiatives in the global Islamic banking and finance industry, it added. 

Originally published on www.tradearabia.com