Yearly Archives: 2021
The Islamic Economy: Improving Livelihoods and Creating Prosperity
With GCC countries looking to kickstart economic recovery through commercial activity, stimulus and technology, it is time for the Islamic economy, and all its components, to show its true mettle. Have we truly grasped the importance of the Halal economy to the prosperity of regional economies, as well as to the continued growth of Islamic financial institutions? What role will regional Islamic financial institutions play in meeting the challenges of the real economy through mobilizing the funding and liquidity support necessary to stimulate the vital SME and corporate sectors? How is financial technology playing a role in regional development and the enhancement of financial inclusion in GCC countries? And through socially impactful strategies, how can Islamic financial institutions inspire and…
Keynote Address
Omar Mustafa Ansari, Secretary General, Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)
Disrupting and Enabling: Islamic Fintech and Crowdfunding Platforms in Oman
With Oman witnessing notable developments in the areas of equity crowdfunding and peer-to-peer lending, what’s next in the evolution of these exciting activities? How do ECF and P2P work in practice, what platforms are they built on and how might they help address and reduce funding gaps in the Omani economy, particularly in the SME sector? What role do the CMA and CBO sandboxes play in the conception and development of new Shariah compliant capital market, insurance and banking products in Oman, and what is their place in the fintech ecosystem? Through this ecosystem, will we witness the successful development positioning of appealing Islamic digital retail, wealth management, Takaful and pension offerings in Oman? Moderator: Zaineb Sefiani, Founder, Carrera Learning…
Issues facing Islamic Banks and Islamic Financing in Oman
We address two current, important operational issues influencing Islamic financial institutions and financial products in Oman. Firstly, we examine the enforceability of Islamic finance contracts in the Sultanate and assess mechanisms for dispute resolution, the role of the courts and arbitral tribunals. We ask if Islamic finance contracts are recognized in their own right, whether they are differentiated from conventional products, how regulatory bodies have responded to registration of security charges in Islamic finance contracts, and what precedents have been established in cases of default. Secondly, with the global transition to risk-free rates, what are the implications for Islamic financial products in Oman and the Gulf region? We seek the views of an expert panel. Moderator: Asad Qayyum, Managing Partner,…
Green, Transition and Sustainability-Linked Finance, Sukuk and Investment Funds in Oman
What steps has Oman taken toward the development of ESG investing and what does the Sultanate offer potential issuers of green bonds and Sukuk, blue bonds and other products related to transition and sustainability? Alongside ‘Transition to Net Zero’ and decarbonisation targets, what is realistically achievable and what does net zero mean for important domestic sectors such as aviation, oil and gas and other asset-based industries? How are Shariah compliant banking, capital market and investment products playing a role in this important shift? What incentives will encourage Oman’s private sector’s involvement in sustainable projects? How can the financing of Shariah compliant assets in Oman continue to contribute to the achievement of the UN SDGs and toward the Paris Accord? We…
Oman Vision 2040 and The Islamic Economy: Improving Livelihoods and Creating Prosperity
How are the key tenets of Oman Vision 2040 combining with the broader Islamic economy to inspire a period of sustained economic recovery in Oman? How are incentives under Oman Vision 2040 providing stimulus for the real economy through identifying and closing funding gaps in the vital SME and corporate sectors, and what role do Islamic banks, capital markets and investment managers play? In the shift away from hydrocarbons, what sectors and activities are ripe for growth and development in Oman, and how can Islamic banking, capital markets and asset management facilitate this rotation? Through social impact products and strategies, how can Islamic banks, asset management and capital market initiatives promote entrepreneurship and financial inclusion in Oman, thereby creating jobs…
Keynote Address
H.E. Tahir Salim Al Amri, Executive President, Central Bank of Oman
The Evolution of UK Financial Technology
The Evolution of UK Financial Technology The IFN Fintech Landscape identifies 39 Islamic fintech providers in the UK, making it the world’s largest Shariah fintech centre. Considering this, how do we assess the rapid evolution of the sector? What is the value proposition and market positioning of UK Islamic fintech offerings and what can Shariah compliant challenger banks learn from their conventional counterparts? How can UK Islamic fintech fulfil its potential through offering Shariah compliant financial solutions to minorities, particularly in retail finance, pensions and wealth management? How can traditional Islamic financial institutions effectively maintain competitiveness in these product areas through innovation and investment? What are the potential implications, if any, of the findings of the Kalifa Report for UK…
Investors Roundtable: UK Opportunities for Shariah Compliant Direct Real Estate and Private Equity Investment
Investors Roundtable: UK Opportunities for Shariah Compliant Direct Real Estate and Private Equity Investment Through a panel of international investment professionals, we explore current and potentially innovative Shariah compliant investment types and asset classes. What are the latest opportunities and demands for Shariah compliant direct investment into UK real estate market? Considering the evolution of working practices in the UK, what is the future of the office and what are the implications for UK commercial real estate investment? With an active private equity market, what are potential targets for investment into the UK market and what structures are being employed? Aside from these, what new and interesting asset classes have presented themselves in the past year? Moderator: Celia de Anca, Director,…
Driving Development in UK Islamic Corporate Banking and Capital Markets
Driving Development in UK Islamic Corporate Banking and Capital Markets What will the second Sovereign Sukuk achieve and what does it represent for UK Islamic financial services, and UK Islamic banks in particular? What does the UK offer as a listing destination for sovereign, supranational and corporate Sukuk issuance, as well as other products such as investment trusts and ETFs? Is there an effective secondary market in the UK for Sukuk? How can Shariah compliant instruments, including Sukuk, be further applied to the funding of alternative asset classes and sustainable assets? How is technology such as blockchain shaping and influencing Islamic corporate banking and capital markets, considering notable recent innovations by GCC Islamic banks? Finally, how can global and domestic…
Presentation
Rofiya Hussain, Chief Product Officer, nomo
Green, Social, Transition and Sustainability-Linked Finance and Investment – Shariah Compliant Options
Green, Social, Transition and Sustainability-Linked Finance and Investment – Shariah Compliant Options As host of the 26th UN Climate Change Conference in November, the UK has an opportunity to drive an important agenda. However, alongside ‘Transition to Net Zero’ and decarbonisation targets, what is realistically achievable and what does net zero mean for sectors such as aviation, oil and gas and other asset-based industries? How are Shariah compliant financing products and assets playing a role in this hugely important transition? How also are Shariah compliant assets funding social impact initiatives in the UK, while contributing to the achievement of the UN SDGs and the Paris Accord? Is a UK sovereign sustainability Sukuk viable in the short term? Beyond the UK,…