It is against this background that we are convening the Asia-Middle East Investment Summit (AMEIS 2012), which will be held on the 7th of June 2012 at the Grand Hyatt, Singapore. The event, co-located with the 3rd Annual World Islamic Banking Conference: Asia Summit (WIBC Asia 2012, which is held under the official patronage of the Monetary Authority of Singapore), will seek to further strengthen the economic linkages between Asia and the Middle East as the two regions witness substantial growth in cross-border capital and investment flows.

Confirms Participation at AMEIS 2012

H.H. Sheikh Salman bin Khalifa Al Khalifa,
Honorary Chairman of Bahrain Petroleum Company (BAPCO)
to deliver the welcome address at AMEIS 2012

Qatar Financial Centre Authority (QFCA) Joins Forces with AMEIS 2012
as Financial Centre Partner

Emirates NBD and Anfaal Capital Confirms Participation
in AMEIS 2012 as Strategic Partners

]]> http://megaevents.net/latest_news/?feed=rss2&p=743 0 http://megaevents.net/latest_news/?p=716 http://megaevents.net/latest_news/?p=716#comments Mon, 14 May 2012 11:08:23 +0000 megaevents http://megaevents.net/latest_news/?p=716 H.E. Ravi Menon, Governor of the Monetary Authority of Singapore has confirmed his participation at the 3rd Annual World Islamic Banking Conference (WIBC Asia 2012) as the inaugural speaker. WIBC Asia 2012 will again be held in Singapore on the 5th and 6th of June 2012 at the Grand Hyatt under the official support of the Monetary Authority Singapore. WIBC Asia 2012 will play a key role in building bridges for Shari’ah-compliant capital flows between Asia and the Middle East by bringing together industry leaders to explore and capitalize on exciting new opportunities in Asia and to foster new business partnerships with other key centres for Islamic finance in the Middle East and beyond. To be held under the theme “Islamic Finance in Asia: Strengthening International Connectivity and Capturing Cross-Border Opportunities“, WIBC Asia 2012 will build on its successful foundation as a large-scale international platform for enabling the further development of Islamic finance.

H.E. Ravi Menon Governor Monetary Authority of Singapore

Confirming his participation at the event, H.E. Ravi Menon noted that “WIBC Asia has become an important bridge connecting Asia and the Middle East to the growing participants of Islamic finance.  Since its launch in 2010, the event has grown in both size and stature. It is a unique gathering for the industry to discuss trends, share experiences and explore opportunities to tap the full potential of Islamic finance.”

With Asia Pacific becoming an increasingly attractive destination for investments that are Shari’ah compliant, there is a need to make further advances towards achieving global connectivity and deepening economic cooperation with other key centres for Islamic finance to reap the full benefit of the region’s rapid expansion and robust development. WIBC Asia 2012 will serve as an opportune platform to chart the next growth phase for the Islamic finance in Asia.

H.E. Dr. Ahmad Mohamed Ali Al-Madani, President of the Islamic Development Bank (IDB) Confirms Participation in the Opening Keynote Session of WIBC Asia 2012 The opening keynote sessions to share regulatory perspectives on strengthening international connectivity to enable further growth of the Islamic finance industry

H.E. Dr. Ahmad Mohamed Ali Al-Madani President Islamic Development Bank

Haslinda Amin of Bloomberg TV to Chair the CEOs and Industry Leaders Power Debate Session at WIBC Asia 2012

The global Takaful industry has witnessed tremendous growth and strong performance over the last several years with recent reports indicating that the industry could hit the US$ 25 bn mark provided that the current growth trajectory is maintained. However, the increasing number of players entering the Takaful market, together with over-concentration in certain business lines, has resulted in the current state of Takaful operators achieving a lower return-on-equity than conventional insurers.

The World Takaful Conference (WTC) has over the last 7 years established itself as the world’s largest and the most influential annual gathering of leaders in the global Islamic insurance industry. Held under the theme “Improving Competitive Performance: Shifting to Sound Underwriting Profitability”, the 7th Annual World Takaful Conference (WTC 2012) scheduled to be held on the 16th and 17th of April 2012 in Dusit Thani, Dubai, will set the stage for discussions that will seek to improve the competitive performance of Takaful players and map new growth horizons in an increasingly competitive global Takaful landscape.

Inaugural Address: Mapping New Growth Horizons in an Increasingly Competitive Global Takaful Landscape

Abdulla Mohammed Al Awar Chief Executive Officer Dubai International Financial Centre Authority

Special Keynote Session:
Improving Competitive Performance: How are Leading Takaful Players
Successfully Shifting Focus to Sound Underwriting and Operational Efficiency?

——————– Opening Keynote Speakers ——————–
Dr. Saleh Malaikah Chairman Rusd International Holding Group Vice Chairman & Chief Executive Officer Salama Group	Hussein Al Meeza Managing Director and Chief Executive Officer Dubai Islamic Insurance and Reinsurance Company (AMAN)	Hans De Cuyper Executive Director and Chief Executive Officer Mayban Agea

The special keynote plenary at WTC 2012 will feature critical discussions that will enable key industry players to manage the new economic realities in the global Takaful industry and successfully move beyond investment income to succeed in an environment of intensified competition. The session will also seek to indentify and capitalize on the key growth drivers for the global Takaful industry and discuss strategies for combating downward price pressures as a result of increased market competition.

Exclusive On-site Launch of the Ernst & Young World Takaful Report 2012

Featuring ground-breaking original research, the eagerly anticipated 2012 edition of the Ernst & Young World Takaful Report will be officially released at the World Takaful Conference 2012 and will probe how the Islamic insurance industry can catalyse the next phase of growth, providing industry leaders with new insights as they seek to review business strategies in a challenging economic climate. The Ernst & Young World Takaful Report has rapidly established itself as an indispensable resource for insurance industry leaders who are currently reviewing their strategies and seeking to improve competitive performance in the new global economic landscape.

Presented by
Ashar Nazim Islamic Financial Services Leader Ernst & Young	Abid Shakeel Banking & Takaful Leader - Islamic Financial Services Advisory Ernst & Youngp

Launch of the World Islamic Insurance Directory 2012

Chakib Abouzaid Chief Executive Officer Takaful Re Limited

The new 6th edition of the World Islamic Insurance Directory, a useful reference guide which gives a much-needed snapshot of the operators in the dynamic Takaful arena will be launched at WTC 2012.

Leading industry players, thought leaders and key regulators in the regional Islamic banking and finance industry will take part in the 2nd Annual Middle East Islamic Finance and Investment Conference (MEIFIC 2012), which is set to be held on the 18th of April 2012 at the Dusit Thani, Dubai. Held under the theme “Room to Grow: New Directions in the Next Growth Phase for Islamic Banking in the Middle East”, MEIFIC 2012 will focus on providing a powerful platform for industry players seeking to further build their presence in the dynamically evolving Middle East markets for Islamic finance and to explore emerging opportunities which will further increase the momentum of growth.

Join the industry leaders at MEIFIC 2012 as they seek to build a sustainable growth trajectory for Islamic finance in the Middle East and reassess their strategies and focus on capitalizing on the emerging new growth opportunities in the region.

———————– Inaugural Address ———————–
Hussein Al Meeza Managing Director & Chief Executive Officer Dubai Islamic Insurance & Reinsurance (AMAN)	Dr. Saleh Malaikah Chairman Rusd International Holding Group Vice Chairman & Chief Executive Officer SALAMA Group

————————— Keynote Power Debate —————————
Moinuddin Malim Chief Executive Officer Mashreq Al Islami	Geert Bossuyt Chief Executive Officer Dar Al Istithmar	Oscar Silva Chief Executive Officer Global Banking Corporation B.S.C. (c) (GBCORP)

Furqan Ahmad Islamic Banking Product Development and Segmentation Advisor

Robin Amlot Managing Editor CPI Financial

Dr. Muhammad Al-Bashir Muhammad Al-Amine Group Head – Shari’ah Assurance Dept Bank AlKhair

Ijlal Ahmed Alvi Chief Executive Officer International Islamic Financial Market (IIFM)

Saadaat Yaqub Bajwa Head of Debt Capital Markets Noor Islamic Bank

Shaykh Yusuf Talal DeLorenzo Chairman, Shari’ah Board Dow Jones Islamic Indexes

Dr. Sayd Farook Global Head of Islamic Capital Markets Thomson Reuters

Dr. Idriss Ghodbane CEO and Board Member Quantum Investment Bank

Sheikh Ahmad Abdul Aziz Al Haddad Shari’ah Board Member Mawarid Finance

Mufti Muhammed Hassan Kaleem Shari’ah Advisor Takaful Emarat – Insurance

Rizwan Kanji Partner King and Spalding

Aladin Al Khatib EVP, Treasury Group Al Hilal Bank

Dr. Jarmo Kotilaine Chief Economist National Commercial Bank

Mohamed Zakariya Othman Head, Islamic Ratings RAM Rating Services Berhad

Shaikh Muddassir Siddiqui Shari’ah Scholar, Research Fellow International Shari’ah Research Academy for Islamic Finance (ISRA), Malaysia

Dr. Azeemuddin Subhani Assistant Professor, Islamic Finance & Head, Finance Department Ajman University of Science and Technology (AUST)

Ben Simpfendorfer Managing Director Silk Road Associates

Ben Simpfendorfer, author of the influential “The New Silk Road: How a Rising Arab World is Turning Away from the West and Rediscovering China” has confirmed his participation at the Asia-Middle East Investment Summit (AMEIS 2012), which will be held on the 7th of June 2012 in the Grand Hyatt – Singapore.Ben, one of the world’s leading experts on relations between Asia and the Middle East, is the Managing Director of Silk Road Associates, an economic and investment advisory firm based in Hong Kong. Ben was the former Chief China Economist for RBS and senior China Economist for JPMorgan. He also sits on the advisory board of RHT Partner’s Asia-GCC fund activities, and also works with Global Strategic Associates in assisting cross-border investments between the Middle East and China. He is an adjunct lecturer at Fudan University’s Business School in Shanghai and advisor to the China Energy Fund.

In his book “The New Silk Road”, Ben Simpfendorfer provides ground-breaking analysis of the rise of the Arab world and its strengthening relations with Asia and examines how Asia’s hunger for commodities and energy security is driving its geopolitical ties with the Middle East, a development that Ben believes is an important trend that will significantly shape the investment landscape between the Middle East and Asia.

 AMEIS 2012: Mobilising Asia-Middle East Trade & Investment Flows

In the context of the historical ties of the Silk Route between the Middle East and Asia now being revitalized in a torrent of trade and investment flows, the Asia-Middle East Investment Summit (AMEIS 2012), which will be held on the 7th of June 2012 at the Grand Hyatt, Singapore under the strategic support of the Monetary Authority of Singapore (MAS), will provide a high-level platform for promoting cross-border investment flows between these two dynamic growth regions. Held under the theme “Bridging Investment Flows Between Asia and Middle East”, AMEIS 2012 will provide key business opportunities and strategic market insights. The Summit will bring together banking, finance and investment leaders from the Middle East and Asia to focus on mobilising increased financial and trade flows.

AMEIS 2012, a new and innovative summit co-located with the 3rd Annual World Islamic Banking Conference: Asia Summit (WIBC Asia), will seek to further strengthen the economic linkages between Asia and the Middle East as the two regions continue to witness substantial growth in cross-border capital and investment flows.

The World Takaful Conference (WTC) has over the last 7 years established itself as the world’s largest and the most influential annual gathering of leaders in the global Islamic insurance industry. The World Takaful Conference 2012 (WTC 2012), now in its 7th annual edition, will again set the stage for more than 350 industry leaders to gather to showcase cutting edge innovations, and also address the key enablers that will boost growth in the international Takaful market. To be held under the theme “Improving Competitive Performance: Shifting to Sound Underwriting Profitability”, discussions at WTC 2012 will focus on successfully tackling the challenges of an increasingly competitive market and will analyse practical strategies that can effectively translate market potential in to real growth.

Co-located with the 2nd Annual Middle East Islamic Finance and Investment Conference (MEIFIC 2012), the 7th Annual World Takaful Conference (WTC 2012) is set to be held on the 16th & 17th of April 2012 in Dusit Thani, Dubai. The testimonials from key industry leaders not only further confirm the overall significance of WTC 2012 as the meeting place of choice for the key decision makers in the global Shari’ah-compliant insurance industry, but also reflect its ability to meet the business needs of the market leaders. Here is a small selection of what the industry leaders are saying about WTC 2012.

What the Industry Leaders Are Saying About WTC 2012

Abdulla Mohammed Al Awar Chief Executive Officer Dubai International Financial Centre Authority

“The global Takaful industry is continuing on its high growth trajectory with recent reports estimating that global Takaful contributions could reach US$ 25bn by 2015. Though the industry has seen a significant increase in market share in the key markets of MENA and South East Asia, driven by increasing awareness and improvements in the quality of products and services being offered, increasing competition from both local and international players remain a critical challenge. With tremendous growth opportunities yet to be fully tapped, Takaful operators need to ensure that they have strong foundations in place to sustain financial performance. The annual World Takaful Conference (WTC) is regarded as one of the most important events and plays a key role in facilitating dialogues to review evolving trends and chart the future direction for the global Shari’ah-compliant insurance industry. I am delighted to be a part of the debates and discussions at the 7th Annual WTC 2012 in Dubai.”

Dr. Saleh Malaikah Chairman Rusd International Holding Group Vice Chairman & Chief Executive Officer SALAMA Group

“With an expanding global footprint, the Takaful industry is well placed to further capitalize on the industry’s tremendous growth potential. However in order to ensure that we sustain the impressive growth rate which the Takaful industry has enjoyed over the last few years, it is essential to resolve certain critical issues which may hamper the industry’s long term growth. With increasing competition from large-scale conventional players and new players entering the market, maintaining scale, operational efficiency and profitability will become increasingly key issues for all industry players. SALAMA has been a key partner of the annual World Takaful Conference since its inception. The event, over the last 7 years, has played an important role in facilitating dialogues that shaped the growth of the industry and we are once again delighted to be supporting this prestigious event to enable the world Takaful industry to achieve further success.”

Hussein Al Meeza Managing Director & Chief Executive Officer Dubai Islamic Insurance & Reinsurance (AMAN)

“The global Takaful market has shown strong growth in the last few years, with the Takaful sector estimated to outpace the conventional insurance market in some of the key markets in the coming years. Though the volume of total global Takaful contributions has increased sharply, most companies operating in the sector are finding it challenging to maintain their profitability levels. In order to ensure that the industry achieves its growth potential, it is essential to improve competitive performance and shift to sound underwriting profitability. We are once again delighted to be supporting the World Takaful Conference and we believe that this event will be an ideal opportunity to discuss some of the critical challenges and opportunities facing the industry.”

Parvaiz Siddiq Chief Executive Officer Noor Takaful

“Over the last few years the Takaful industry has experienced increasing prominence as a potential high-growth component of the Islamic finance industry, with the Middle East and Malaysia leading the way as the primary growth markets. Moving beyond its niche market status, the industry is steadily building roots strong enough to take its place alongside the conventional insurance industry as a valid alternative in key markets. An advantage that the conventional insurance industry enjoys is the better economies of scale that many players in the Takaful market are yet to achieve thus laying substantial importance on operating performance for Takaful players. Though the key Takaful markets are characterized by low insurance penetration rates and comparatively high rates of economic growth, leading to a positive outlook for the sector as a whole, increasing competition both from new players and established conventional players entering the Takaful segment remains a key challenge. We at Noor Takaful are dedicated and committed to the growth and development of this dynamic industry and our partnership with the World Takaful Conference highlights this. We look forward to meeting the industry leaders at WTC 2012 and to discussing the future growth prospects for the global Takaful industry.”

Ghassan Marrouche Chief Executive Officer Takaful Emarat

“Significant growth has been forecast for the Takaful industry in 2012. The Takaful market makes up just one percent of the global insurance market – so it is evident that opportunities abound. The Takaful industry like any other growing industry is facing challenges like increasing competition, the need for skilled professionals, a regulatory and prudential framework and Shari’ah-compliant investment opportunities. The World Takaful Conference 2012 is an ideal platform to address these issues, share knowledge with other industry professionals and work towards establishing a solid foundation for the growth of the Takaful industry. As Life & Health Partner of the World Takaful Conference 2012, for the second consecutive year, Takaful Emarat is pleased to raise awareness about the importance of life and health takaful products to the industry as a whole.”

WIBC Asia 2012 Focuses on Capturing Cross-Border
Opportunities for Islamic Finance

A key outcome of the discussions at last year’s World Islamic Banking Conference: Asia Summit (WIBC Asia 2011), which was attended by more than 450 industry leaders from over 240 leading regional and international organizations, was that Islamic banking and finance can be a powerful catalyst for expanding investment and trade ties between Asia and the Middle East. To reap the full benefit of Asia’s rapid expansion and robust development, there is a need for Islamic finance institutions to make further advances towards supporting global connectivity and enabling deeper economic cooperation between the leading centres for Islamic finance. In order to better facilitate cross-border relationships, more intensive international co-ordination of regulatory approaches is needed – together with the drive from the industry itself, the leading international Islamic banks, to respond to the huge potential emerging from these inter-regional opportunities.

With the support of the Monetary Authority of Singapore (MAS), the 3rd Annual World Islamic Banking Conference: Asia Summit (WIBC Asia 2012) will be again held in Singapore on the 5th and 6th of June 2012 at the Grand Hyatt. To be held under the theme “Islamic Finance in Asia: Strengthening International Connectivity and Capturing Cross-Border Opportunities”, WIBC Asia 2012 will play a key role in building bridges for capital flows that are Shari’ah-compliant between Asia and the Middle East by bringing together industry leaders to explore and capitalize on exciting new opportunities in Asia and to foster new business partnerships with other key centres for Islamic finance in the Middle East and beyond.

Below are a few extracts from the key discussions at WIBC Asia 2011 which closed on the 9th of June 2011 in Singapore.

Islamic Finance to Enhance Cross-Border Connectivity
and Drive Global Growth

Key Messages from WIBC Asia 2011

H.E. Lim Hng Kiang Minister for Trade and Industry Republic of Singapore & Deputy Chairman Monetary Authority of Singapore

“Asia will become increasingly important for the GCC as the patterns of trade, investment and consumption shift from the West to the East. To reap greater benefits from these highly dynamic and fast-expanding regions, we should press on towards the goal of growing connectivity and deepening economic cooperation between our two regions. We need to create stronger linkages in the vital areas of trade and investment, business as well as financial linkages. As investors and businesses in the Middle East and Asia seek a wider range and diversity of financing options from banks and capital markets, Islamic finance will have to respond to meet their rising needs. National and industry players have to work closely together to address the many challenges faced by Islamic finance as it internationalizes into new markets.”

H.E. Mohd Rosli Sabtu Managing Director Autoriti Monetari Brunei Darussalam (AMBD)

“In order to enhance cross border inter-linkages between financial centres in the region and globally, it is critical to support a number of vital factors including effective implementation of prudential standards, appropriate liquidity management infrastructure and safety nets that can withstand the test of time, and create a more balanced and stable global financial system.”

H.E. Halim Alamsyah Deputy Governor Bank Indonesia

“With greater economic interdependency and convergence, together with more open financial system and capital account regimes in many countries, Islamic finance has flourished and may become an important catalyst for growth and stability in many countries. The existence of global regulations and standards is essential to promote cross-border transactions and foreign participation in the development of Islamic Finance in Asia and other regions.”

Tan Sri Zarinah Anwar Chairman Securities Commission Malaysia

“Islamic finance institutions and markets in Asia and the GCC provide opportunities for building scale to expand the growth of Islamic finance activities. This is facilitated by the growing expansion in trade and investments within this cluster, which has risen by 12% per year since 2006. There are therefore enormous opportunities to finance the expanding trade between both regions, the value of which is growing steadily, through Islamic trade instruments. At the same time, capital investments among countries in the two regions can be enhanced by the availability of Shariah-compliant structures to deepen and broaden the capital markets in this cluster which can then serve as a model for similar clusters to develop within other regions as well as across regions.”

Dr. Lokman Gunduz Member of the Board The Central Bank of the Republic of Turkey

“In order to organize a well-structured and resilient Islamic banking system, a sound infrastructure needs to be built along with high capital and liquidity buffers. In this sense, we need broad approaches and well developed strategies in formulating legal and regulatory frameworks for resilient Islamic Banking especially in the Middle East and Asia. A framework that can identify weaknesses and emerging vulnerabilities and which is capable of analyzing risks and so adequately pricing risks, provides appropriate incentives to induce prudent behavior in the market place, encourages innovations and development of strong institutions.”

Over the last 8 years the annual World Islamic Funds and Financial Markets Conference (WIFFMC) has firmly established itself as the world’s largest and most high profile annual platform supporting growth, excellence and innovation in the global Islamic funds and investments industry.

The 8th Annual World Islamic Funds and Financial Markets Conference (WIFFMC 2012), to be held on the 20th and 21st of May 2012 in the Kingdom of Bahrain, in strategic partnership with the Central Bank of Bahrain, will feature critical discussions on “New Growth Horizons: Expanding the Global Footprint of Islamic Funds & Investments”. As the global Islamic funds, investments and capital markets industry enters a significant new phase of international growth, WIFFMC 2012 will provide a powerful platform for key industry players to re-tune their growth strategies and identify new trends and opportunities.

WIFFMC 2012: Shaping the Future of the Global Islamic Capital Markets

Key Messages from Last Year’s World Islamic Funds
and Financial Markets Conference – WIFFMC 2011

WIFFMC 2011 witnessed a record gathering of more than 400 industry leaders representing over 120 leading international and regional organizations. Below are a few key extracts from the discussions at WIFFMC 2011:

Abdul Rahman Mohammed Al Baker Executive Director - Financial Institutions Supervision Dubai Central Bank of Bahrain

"It is important to further enhance the innovations of new Islamic instruments and encourage more spending in research and developments, in order to widen the contribution of Islamic investments in the global financial market. There is a need for the Islamic financial Institutions to develop strategic alliances with other financial institutions globally, especially in the products structuring and offering, as the formation of such alliances will help to achieve economies of scale and improve the services across the Islamic investment industry."

Gary Palmer Chief Executive Irish Funds Industry Association (IFIA)

"The demand for Islamic financial services has grown rapidly in the last decade and the flow of Islamic finance into the mainstream of the global financial system is growing rapidly. Against the recent financial crisis, Islamic financial institutions have been stable, profitable and gaining confidence worldwide in line with the key pillars of an international fund jurisdiction, which are Tax Efficiency, Industry Expertise, Regulatory Environment and Distribution Opportunities."

Ashar Nazim Islamic Financial Services Leader Ernst & Young

"Achieving scale is even more critical to ensure long term sustainability. Over 70 per cent of funds fall below estimated break-even AuM level of $100m, while the top 10 have 80pc market share. The big will get bigger as the going gets tougher to win investors’ trust. The growth performance will be difficult to repeat this year as the Islamic funds industry had benefited from performing markets in 2010, which may be hindered going forward by global economic uncertainty risks. Even though stock prices in the MENA region are near 2004 levels today, investors are not confident about their rise even in 2012. They remember that equity markets were flat for years before the spike began in 2005. The global economic scenario, investors’ risk aversion and the aftermath of the Arab Spring are the top three risks for Islamic fund managers. The economic situation in Europe and the US is the single biggest concern for future market performance as no region or market will be immune to a double dip recession."

Dr. Ali Al Amari Senior Director, Supervision and Authorisation & AML Qatar Financial Centre Regulatory Authority

"Islamic finance and Islamic institutions have been increased and expanded around the world and a variety of Islamic products have been introduced into the market. Islamic institutions are operating in different countries under different laws and regulations. Regulators, supervisors, international regulatory bodies and business leaders are required to have strong cooperation in providing roles and guidelines that should help in understanding Islamic finance and Islamic products. Working towards acceptable Islamic financial standards that will lead to harmonizing the Islamic regulatory system, Sharia Fatwa and Islamic products is the way forward."

Dr. Jarmo Kotilaine Chief Economist NCB

"Sukuk are emerging as a new asset class for investors, since asset-backed/based instruments provide relative capital protection and predictable returns to investors, while In addition, a near-absence of long term financing tools and a growing importance of long term capital projects launched in the region have also increased the attractiveness of Sukuk. After a brief setback in 2010, increasing private sector activity is driving the revival in the GCC sukuk market, while Islamic financing is gaining prominence in non-Islamic countries."

 The launching of the Islamic Interbank Benchmark Rate (IIBR) by Thomson Reuters and a group of leading industry players at the 18th Annual World Islamic Banking Conference (WIBC 2011) in Bahrain last November is an important manifestation of how the technical architecture of the global Islamic financial industry is maturing. IIBR, the world’s first Islamic finance benchmark rate, is designed to provide an objective and dedicated indication of the average expected return on Shari’ah-compliant short-term interbank funding, providing a reliable and much-needed alternative for pricing Islamic instruments.

Nasser Saidi Chief Economist Dubai International Financial Centre (DIFC)

Speaking at the launch of IIBR, Nasser Saidi, Chief Economist of Dubai International Financial Centre (DIFC) and Chairman of IIBR said that “the establishment of the IIBR marks an important milestone in the maturation of Islamic money markets by providing an international reference rate for interbank transactions. Conventional money markets have relied on LIBOR, which by definition does not comply with Shariah conventions. Islamic markets will be able to rely on the IIBR and it will become an international reference rate for both conventional and Shariah-compliant transactions. Our aim is to provide an IIBR that is reliable, timely, representative of market conditions, transparent in its construction and accepted as the market reference. Islamic money and financial markets are coming of age and becoming part of the mainstream.”

The 2nd Annual Middle East Islamic Finance and Investment Conference (MEIFIC 2012) which will be held on the 18th of April 2012 at the Dusit Thani, Dubai will feature an interactive session that will seek to assess the role of the newly launched Islamic Interbank Benchmark Rate in developing the Islamic finance industry to the next level. The session chaired by Dr. Sayd Farook, Global Head of Islamic Capital Markets, Thomson Reuters, will analyse how the benchmark rate has been applied since it was launched and to what extent does IIBR provide a more realistic measure of the cost of funding for Islamic financial institutions.

Assessing the Role of the Newly Launched Islamic Interbank Benchmark Rate in Developing the Islamic Finance Industry to the Next Level

AMEIS: Shaping the Future Investment Landscape
between Asia and the Middle East

Asia has long been recognised as the world’s most dynamic growth region and will be a key engine in driving a global economic recovery. The Middle East continues to be a strategic priority, rich in energy resources and decades of accumulated oil wealth, the region is rapidly diversifying its investments and economic focus as well as seeking high growth opportunities in the dynamic developing regions of the world. The economic linkages between these two regions are entering a new stronger phase of greater inter-connectedness as the world witnesses a powerful shift to East-Middle East trade and investment.

It is against this dynamic background that we are launching the Asia-Middle East Investment Summit (AMEIS 2012) which will be held on the 7th of June 2012 at the Grand Hyatt, Singapore. Convened with the strategic support of the Monetary Authority of Singapore (MAS), the Asia-Middle East Investment Summit (AMEIS 2012) will provide a high-level platform for promoting cross-border investment flows between the two dynamic growth regions. AMEIS 2012 is a new and innovative summit co-located with the 3rd Annual World Islamic Banking Conference: Asia Summit (WIBC Asia) bringing together investment leaders from the Middle East and Asia to focus on mobilising increased financial and trade flows.

Held under the theme “Bridging Investment Flows Between Asia and Middle East”, AMEIS 2012, will seek to further strengthen the economic linkages between Asia and the Middle East as the two regions are now witnessing a substantial growth in cross-border capital and investment flows. AMEIS brings together business opportunities and market knowledge for these two dynamic growth regions in one high-profile platform that gathers the finance and investment industry from these two high-growth regions to mobilise investment flows between Asia and the Middle East. Key topics that will be discussed at the Asia – Middle East Investment Summit (AMEIS 2012) will include:

• Expanding Economic Linkages and Boosting Investment Ties Between Asia and Middle East
• East Meets Middle East – How Can Investment Flows Between Asia and Middle East be More Powerfully Mobilised?
• Inter-Regional Challenges and Opportunities: Assessing the Factors Fuelling and Inhibiting Cross Border Investment Flows Between Asia and Middle East
• Which Sectors and Asset Classes Will Drive the Growth of Cross Border Investment Flows Connecting Asia and the Middle East?
• Exploring Wealth Management Opportunities Across Asia and Middle East
• Assessing the Role of Islamic Finance as a Catalyst for Mobilising Cross Border Trade and Investment Flows Between Asia and Middle East
• Inter-Regional Growth Stories
• Meeting Large-Scale Infrastructure Needs in Asia and Middle East

H.E. Lim Hng Kiang Minister for Trade and Industry Deputy Chairman Monetary Authority of Singapore

Speaking at the sidelines of the 2nd Annual World Islamic Banking Conference: Asia Summit (WIBC Asia 2012) in Singapore last year, H.E. Lim Hng Kiang, Singapore’s Minister for Trade and Industry and Deputy Chairman, Monetary Authority of Singapore noted that “Asia is expected to remain the main locomotive driving economic growth. The International Monetary Fund (IMF) projects Asia’s growth to reach almost 7% this year, led mainly by China at 9.6% and India at 8.2%. The IMF expects the GCC to grow by 7.8% this year, driven by the robust expansion of oil production and strong public spending. Asia will become increasingly important for the GCC as the patterns of trade, investment and consumption shift from the West to the East. To reap greater benefits from these highly dynamic and fast-expanding regions, we should press on towards the goal of growing connectivity and deepening economic cooperation between our two regions. We need to create stronger linkages in the vital areas of trade and investment, business as well as financial linkages.”