Oman: Islamic Banking and Finance Conference in March

MUSCAT — A two-day conference on Islamic Banking and Finance will be held from March 26, 2012 at the Al Bustan Palace, a Ritz-Carlton Hotel, Muscat. Organised by OITE Conference, the event will focus on the theme, ‘Innovating the Future of Oman’s Islamic Banking and Finance: Meeting Demands, Maximising Opportunities’.

Following the announcement and recent approval for the establishment of two Islamic banks, namely Bank Nizwa and Al Izz International Bank in the Sultanate, Islamic finance is gaining immense importance in Oman’s banking sector.

“In the struggle to drive long-term sustainability and accelerate economic growth, it is crucial to formulate strong banking reforms, diversify financial assets and execute appropriate investment mechanisms effectively,” said Sherwin Sevillena, Senior Manager — Conferences at OITE.

Sevillena added: “The need to strengthen policies and legal principles intended for implementing Islamic banking for the Sultanate of Oman should seize decisive action by governments and key policy makers to obtain a competitive edge in the regional and global financial markets.”

The conference aims to provide a platform for dialogue and discussions between top leaders, key policy makers and the brightest minds in the industry to formulate winning strategies that will revolutionise the Sultanate’s current financial structure and investment climate.

Besides, the event aspires to develop a concrete blueprint on how to meet the emerging challenges posed by the outcome of financial liberalisation.

Sevillena added: “The event will also discuss the need for a fundamental rethink on how to increase the level of sophistication in building techniques to raise awareness, optimise operation efficiencies and achieve a higher degree of accountability”.

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