Bank Muscat’s Meethaq Islamic Banking in association with International Islamic Financial Market (IIFM) is hosting a 2-day workshop on Islamic Liquidity Management and Capital Market beginning today (5 May 2012) at BankMuscat head office. His Excellency Hamoud bin Sangour al Zadjali, Executive President of the Central Bank of Oman, will preside at the opening ceremony of the workshop, in the presence of dignitaries, including His Excellency Abdullah Al Salmi, Executive President of Capital Market Authority, and AbdulRazak Ali Issa, Chief Executive of BankMuscat.
Aimed at knowledge-sharing on the latest trends in Islamic finance, the workshop patronised by the Central Bank of Oman and Capital Market Authority will be attended by leading industry representatives and regulators. The main objective is to highlight the need for developing Islamic liquidity management tools, capital market, risk mitigation and credit enhancement. Sulaiman Al Harthy, Group General Manager, Islamic Banking, BankMuscat, will address the opening ceremony.
The workshop assumes importance against the backdrop of the prevailing global financial crisis, reiterating the fact that a strong capital base is necessary for banking and financial institutions, but on its own is not a sufficient condition to ensure stability. A strong capital base must be supplemented by strong liquidity tools. The workshop is premised on this scenario to further support the growth of Oman’s Islamic finance system to be a resilient and sustainable system n To page 23.
The main focus at the workshop is to identify instruments which facilitate liquidity management for Islamic banks as well as help achieve a reasonable commercial return and also fulfill their traditional role of financial intermediation between depositors and productive activity such as financing.
AbdulKader Thomas, CEO, SHAPE Financial Corp, Kuwait, will make a special address on ‘Islamic Financial Services Industry – Its evolution, journey, growth, trends and future direction’. He will also moderate the first session on ‘Islamic banking, Basel III and the role of Central banks and Standard Setting Bodies’ as well as the session on ‘Trends in the Global Sukuk Market’. Ismail Dadabhoy, a Dubai-based independent Islamic banker will be the moderator in a session on ‘Islamic Inter-Bank Market – Liquidity Management Tools’.
Simon Eedle, Managing Director, Credit Agricole CIB and Vice-Chairman of IIFM, will be the moderator in a session on ‘Risk Mitigation in Islamic Finance – A Market Perspective’. Sohaib Umar, Executive Manager, Islamic Financial Services Group, Ernst & Young, will be the moderator in sessions on ‘Shariah Panel Discussion’ and ‘Financial Stability, Structures & Credit Enhancement in Islamic Financial Market Products & Services’.
The group of expert presenters and panelists from the GCC and Far East region include some of the leading industry practitioners – Abdullah Haron (IFSB), Ijlal Ahmed Alvi (IIFM), Dr. Mohammed Daud Bakar (Amanie Advisors), Faheem Ahmad (IIRA), Mark Pritchard (NBAD), Shaikh Muddassir Siddiqui (ISRA), Daniel Cookson and. Mark Dickinson (Clifford Chance), Hatim El-Tahir (Deloitte) and Sheikh Kahlan Al Kharusi (Assistant Grand Mufti of Oman).
BankMuscat is delighted to organise this specialised event in Oman with the co-operation and support of the Central Bank of Oman, Oman Capital Market Authority, leading banks and IIFM, the leading standard setting body in Islamic finance, to facilitate the development of Islamic capital and money market in Oman.