Islamic finance to mobilise Asia, Middle East trade and investment flows

The 3rd Annual World Islamic Banking Conference: Asia Summit (WIBC Asia 2012) opened today at the Grand Hyatt Singapore. The two day WIBC Asia event, held under the official support of the Monetary Authority of Singapore, kicked off with an inaugural address by H.E. Ravi Menon, Governor of the Monetary Authority of Singapore.

Islamic finance to mobilise Asia, Middle East trade and investment flows

His speech was immediately followed by an opening keynote session which featured HE Dr. Ahmad Mohamed Ali Al-Madani, President of the Islamic Development Bank and Edy Setiadi, Executive Director of the Directorate of Islamic Banking, Bank Indonesia. The session addressed the challenges and opportunities inherent in the increasingly global geographic footprint of Islamic finance and also discussed the national and international initiatives that will ensure consistency and foster greater interconnectedness across key jurisdictions for Islamic finance.

A key highlight was the Power Debate moderated by Haslinda Amin of Bloomberg Television, the session analysed the expanding role of Islamic finance as a conduit for trade and capital flows between Asia and the Middle East and also discussed how Islamic financial institutions can better develop the capacity to structure large-scale multi-currency and cross border transactions.

The Power Debate session featured Toby O’Connor, Chief Executive Officer, Islamic Bank of Asia; Hussain AlQemzi; Chief Executive Officer, Noor Islamic Bank and Group Chief Executive Officer, Noor Investment Group; Muzaffar Hisham, Chief Executive Officer, Maybank Islamic Berhad; Dato’ Jamelah Jamaluddin, Chief Executive Officer, Kuwait Finance House (Malaysia) Berhad (KFH Malaysia); Syed Abdull Aziz Jailani Bin Syed Kechik, Chief Executive Officer, OCBC Al-Amin Bank Berhad; Shamsun Anwar Hussain, Director – Consumer Banking, CIMB Islamic Bank Berhad; and Wasim Saifi, Global Head, Standard Chartered Saadiq, Consumer Banking.

WIBC Asia 2012 continues on tomorrow and will features an exclusive keynote address by Jaseem Ahmed, Secretary-General of the Islamic Financial Services Board (IFSB), and a special address by Daud Vicary Abdullah, President and Chief Executive Officer of INCEIF- The Global University of Islamic Finance.


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