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5 - 6 September 2016, Karachi, Pakistanat Movenpick Hotel
In collaboration with INCEIF
WORLD ISLAMIC FINANCE FORUM(WIFF) 2016
Centre for Excellence in Islamic Finance
Institute of Business Administration
CEIF
WIFF 2016 is a unique conference being organized by CEIF-IBA to bring together researchers, academicians and practitioners for generating
innovative ideas to stimulate Islamic Finance growth while overcoming present day industry challenges.
Strategic Partner Research Partners
Academic Partner
I s l a m i c R e s e a r c h & T r a i n i n g I n s t i t u t e
International Shari’ah Research Academy for Islamic Finance
ROADMAP FOR FUTURE ANDCRITICAL SUCCESS FACTORS
AGENDA
Mr. Ahmed Ali Siddiqui, Director, Centre for Excellence in Islamic Finance at Institute of Business Administration (CEIF-IBA)
Dr. Farrukh Iqbal, Dean and Director, IBA
Dr. Ishrat Husain, Chairman, CEIF-IBA
Shaikh Muhammad Taqi Usmani, Shariah Board Chairman, Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI); Chairman Shariah Board, Meezan Bank; Deputy President, Dar ul Uloom, Karachi, Pakistan
Mr. Ashraf Mahmood Wathra, Governor, State Bank of Pakistan (SBP)
Prof. Dr. Abbas Mirakhor, First Holder, International Centre for Education in Islamic Finance (INCEIF) Chair of Islamic Finance
Dr. Azmi Omar, Director General, Islamic Research and Training Institute (IRTI)
Senator Mohammad Ishaq Dar, Minister of Finance
Senator Mohammad Ishaq Dar, Dr. Ishrat Husain, Dr. Farrukh Iqbal, Mr. Ashraf Mahmood Wathra, Dr. Azmi Omar and Mr. Mustafa Adil (Head of Islamic Finance, Thomson Reuters)
Research Team
Dr. Zamir Iqbal, Lead Financial Sector Specialist, Finance & Markets Global Practice, World Bank Global Islamic Finance Development Centre
Dr. Dawood Ashraf, Senior Researcher (Islamic Finance), IRTI
Mr. Mustafa Adil, Head of Islamic Finance, Thomson Reuters
Ms. Irum Saba, Assistant Professor, CEIF-IBA
Mr. Saeed Ahmed, Deputy Governor, State Bank of Pakistan
Mr. Ahmed Ali Siddiqui, Director, CEIF
Prof. Dr. Abbas Mirakhor, First Holder, INCEIF Chair of Islamic Finance
“SMEs’ Access to Finance in South Asia: Can Islamic Finance be the Catalyst?”By Tarik Akin, Ayse Nur Aydin and Zamir Iqbal
8:00am - 9:00am
9:00am - 9:30am
9:30am – 11:05am
11:05am - 11:30am
11:30am - 11:45am
11:45am - 12:30pm
12:30pm – 1:30pm
Registration
Networking Break and Documentary
OPENING
Recitation from Holy Quran (5 mins)
Opening Remarks (5 mins)
Welcome Note (5 mins)
Setting the Stage (10 mins)
Visionary Address (20 mins)
Keynote Address (10 mins)
Keynote Address (10 mins)
Keynote Address (10 mins)
Address by Chief Guest (10 mins)
Launch of Pakistan Islamic Finance Report in collaboration with IRTI (10 mins)
Networking Co�ee Break
Presentation on Key �ndings of Pakistan Islamic Finance Report
Discussion on Pakistan Islamic Finance Report
Session Chair
Moderator
Presentation of Research Papers/Case Studies
Session Chair
Research Papers
WORLD ISLAMIC FINANCE FORUM(WIFF) 2016AGENDA
05 September, 2016
WORLD ISLAMIC FINANCE FORUM(WIFF) 2016AGENDA
05 September, 2016“The E�ect of Implicit Market Barriers on Stock Trading and Liquidity: The Case for Islamic Finance”By Asem Alhomaidi, M. Kabir Hassan and William J. Hippler
“Financial Innovation, Over-subscription and Financial crises in Islamic Finance” By Saad Azmat, Haiqa Ali and M. Kabir Hassan
“Does Innovation in Sukuk structure create Value? A study of post-crisis Sukuk wealth e�ects in Malaysia”By Ziyaad Mahomed, Shamsher Mohamad and Mohamed Ari�
“Sukuk for the �nancing of Non-Revenue Water Management: Malaysia as a Case Study” By Kulsanofer Syed Thajudeen
Dr. Zamir Iqbal, Lead Financial Sector Specialist, Finance & Markets Global Practice, World Bank Global Islamic Finance Development Centre
Mr. Najmul Hassan, Director FIDD, Islamic Corporation for the Development of the Private Sector (ICD)
Mr. Junaid Ahmed, Chief Executive O�cer, Dubai Islamic Bank, Pakistan
Mr. Mohamed Rafe Mohamed Haneef, Chief Executive O�cer, CIMB Islamic Bank
Mr. Ashar Nazim, Partner Global Islamic Banking Center, Ernst & Young
Dr. Hatim El Tahir, Director Islamic Finance Group, Islamic Finance Knowledge Center Leader, Deloitte & Touche
Mr. Irfan Siddiqui, President & CEO, Meezan Bank
Dr. M. Kabir Hassan, Professor of Finance, University of New Orleans
“Towards Greater Financial Inclusion of Refugees in the Fourth Industrial Revolution: A Risk-sharing Based Islamic Financial Solution”By Abbas Mirakhor, Alaa Alaabed and Ali Alaabed
“Role of Takaful in Raising Higher Education Enrolment in Pakistan”By Muhammad Imran and Mohsin Khawaja
“Islamic �ukuk Default and Issues in Their Resolution: The Case of Villamar �ukuk”By Salman Syed Ali
“Case Study: Developing an Islamic co-operative model into an ethical, risk-sharing, �ntech solution” By Ziyaad Mahomed
Mr. Ahmed Ali Siddiqui, Director, CEIF - IBA
1:30pm-2:30pm
2:30pm-3:10pm
3:10pm - 4:25pm
4:25pm - 4:45pm
4:45pm – 6:00pm
6:00pm – 6:15pm
Lunch & Prayer Break
Presentation of Research Papers/Case Studies
Innovation, Technology and Creating Reach
Key Topics- Launch Market for Global Islamic Product
Innovation’ – Spotlight on Pakistan
- Are Islamic banks geared for digital disruption?
- Islamic Bank of Future
Session Chair
Networking Co�ee Break
Presentation of Research Papers/Case Studies
Session Chair
Research Papers
Wrap-up Session -Summarizing key takeaway points and highlights of Day 1 – WIFF 2016
Mr. Zafar Hijazi, Chairman, Securities Exchange Commission of Pakistan (SECP)
Prof. Datuk Dr. Syed Othman Alhabshi, Deputy President Academic, INCEIFDr. Zeeshan Ahmed, Associate Professor, Karachi School Business and Leadership (KSBL)
Dr. Muhammad Imran Ashraf Usmani, Group Head Product Development & Shariah Compliance and Resident Shariah Board Member, Meezan Bank
Mr. Ijlal Alvi, Chief Executive O�cer, International Institute of Financial Markets
Mr. Ashar Nazim, Partner Global Islamic Banking Center, Ernst & Young
Mr. Hasan A. Bilgrami, President & CEO, BankIslami Pakistan
Mr. Zubair Haider Shaikh, Head of Corporate Finance & Investment Banking & Cash management. Dubai Islamic Bank Pakistan.
Mr. Mohammad Shoaib, CEO, Al Meezan Investment Management Limited
Mr. Noor Abid, AAOIFI BOT Member; Member of Board of Directors, Kuwait Finance House Group; Member of Board of Directors of a number of Islamic Financial Institutions, Worldwide
Prof. Datuk Dr. Syed Othman Alhabshi, Deputy President Academic, INCEIF
“The challenges and opportunities for Takaful industry in Pakistan” By Sanaullah Ansari
“Investment opportunity set, corporate governance practices and performance of Modarabas”By Saqib Sharif
“Towards a Robust Shariah Screening Criterion for Stocks”By Farrukh Habib
Mr. Bilal Rasul, Executive Director, Chairman Secretariat and Islamic Finance Department, SECP
Mr. Akif Saeed, Commissioner, SECP
Mr. Ghulam Muhammad Abbasi, Director Islamic Banking, State Bank of Pakistan
Mr. Mohammad Shoaib, Chief Executive O�cer, Al Meezan Investment Management
Mr. Muhammad Nasir Ali Syed, Chief Executive O�cer, Pak Qatar Family Takaful
9:00am - 9:35am
9:35am - 10:45am
10:45am – 11:15am
11:00am - 1:30pm
OPENING
Recitation from Holy Quran (5mins)
Keynote Address (10 mins)
Keynote Address (10 mins)
Keynote Address (10 mins)
Infrastructure Development for Stimulating Growth
Key Topics- Standardization and harmonization
- Taxation, Transparency and Accounting Disclosures
- Incentives for Islamic capital market development
- Is “CPEC” making the paradigm shift?
Session Chair
Networking Co�ee Break
Parallel Session
Presentation of Papers
Session Chair
Research Papers
Policy Dialogue on Islamic Capital Markets and Takaful
WORLD ISLAMIC FINANCE FORUM(WIFF) 2016AGENDA
06 September, 2016
Mr. Muhammad Hanif Jakhura, Chief Executive O�cer, Central Depository Company
Muhammad Shoaib Ibrahim, Chief Executive O�cer, First Habib Modaraba
Mr. Sohail Ahmed, Head of General Takaful, Jubilee General Insurance
Mr. Ejaz Ali Shah, Managing Director, Pakistan Mercantile Exchange
Mr. Nadeem Naqvi, Managing Director, Pakistan Stock Exchange
Mr. Muhammad Lukman, Chief Executive O�cer, National Clearing Company of Pakistan
Mr. Muhammad Farhan ul Haq Usmani, Senior Vice President & Head of Shariah Audit & Advisory, Meezan Bank
Dr. Mohamed Eskandar Shah Mohd. Rasid, Deputy Dean, School of Graduate Studies, INCEIF
“Will Islamic Banking make the World Less Risky? An Empirical Analysis of Capital Structure, Risk Shifting and Financial Stability”By Moazzam Farooq, Sweder van Wijnbergen and Sajjad Zaheer
“Do Islamic equity investments o�er any hedging bene�ts?”By Dawood Ashraf and Mohsin Khawaja
“Introducing Islamic Finance in Unchartered Economy: The case of Canada”By Baharom Abdul Hamid, Mohsin Ali, Wajahat Azmi and Zaheer Anwer
“Income Structure of Islamic and Conventional Banks in OIC countries”By Mohsin Ali, Mansor H. Ibrahi and Eskander Mohd. Shah
“Shariah Appraisal on Rental Rate Index Based Pricing and Pro�t Rate for Islamic Home Financing”By Asmadi Mohamed Naim, Norhayati Ahmad, Zuriah Abdul Rahman and Salina Kassim
“Carbon Credits Trading and its Role in Infrastructure Power Purchase Agreements from a Shariah Perspective”By Shakir Siddiq Jakhura
Prof. Dr. Abbas Mirakhor, First Holder, INCEIF Chair of Islamic Finance
Mr. Syed Samar Hasnain, Executive Director, Development Finance Group, State Bank of Pakistan
Mr. Ariful Islam, Deputy CEO & Executive Director, Meezan Bank
Prof. Dr. Ahmed Musa Wang Yongbao, Director of Institute of Islamic Law, Economics, and Finance, Northwest University of Politics and Law, China
Mr. Rizwan Ata, Head Islamic Banking, Bank Alfalah
11:15am - 1:00pm
1:00pm - 2:00pm
2:00pm – 3:00pm
Moderator
Presentation of Papers
Session Chair
Research Papers
Lunch & Prayer Break
The Great Debate: Are Islamic �nancial institutions working towards �nancial inclusion and shared prosperity?
• Is the purpose of existence of Islamic �nancial institutions clear to the global community?
• How to touch 50 million consumers in Pakistan? 1 billion globally?
• Demystifying social capital
WORLD ISLAMIC FINANCE FORUM(WIFF) 2016AGENDA
06 September, 2016
Dr. Zamir Iqbal, Lead Financial Sector Specialist, Finance & Markets Global Practice, World Bank Global Islamic Finance Development Centre
Prof. Datuk Dr. Syed Othman Alhabshi
“Benchmarking Maqasid al-Shari’ah: Index and its Performance in Select OIC Countries”By Alaa Alaabed, Hossein Askari, Zamir Iqbal and Adam Ng
“Stabilizing Economic Growth through Risk Sharing Macro Instruments”By Syed Aun R. Rizwi and Shaista Arshad
“Do Political Connections and Shariah Compliance impact Pro�tability of listed �rms? - A Case Study of Malaysia”By Irum Saba, Mohamed Ari� Abdul Kareem and Mohamed Eskandar Shah Mohd Rasid
“Islamic Finance in the age of Black Swans and Complexities of a Multipolar World”By Abbas Mirakhor and Mughees Shaukat
Prof. Dr. Abbas Mirakhor, First Holder, INCEIF Chair of Islamic Finance
Dr. Ishrat Husain, Chairman, CEIF-IBA
Prof. Datuk Dr. Syed Othman Alhabshi, Deputy President Academic, INCEIF
Mr. Syed Samar Hasnain, Executive Director, Development Finance Group, State Bank of Pakistan
Mr. Irfan Siddiqui, President & CEO, Meezan Bank
Mr. Mehmood Arshad, Executive Vice President, Pak-Qatar General Takaful
Dr. Muhammad Imran Ashraf Usmani, Group Head PDSC and Resident Shariah Board Member, Meezan Bank
Mufti Irshad Ahmad Aijaz, Chairman Shariah Supervisory Board, BankIslami Pakistan
Dr. Farrukh Iqbal, Dean and Director, IBA
Dr. Ishrat Husain, Chairman, CEIF-IBA
3:00pm – 4:15pm
4:15pm – 4:30pm
4:30pm – 5:15pm
5:15pm - 5:30pm
5:30 – 5:45pm
Session Chair
Presentation of Papers
Session Chair
Research Papers
Co�ee Break
Concluding Power Session with Islamic Finance Visionaries
Closing Note
Wrap-up Session - Summarizing key takeaway points of WIFF 2016
WORLD ISLAMIC FINANCE FORUM(WIFF) 2016AGENDA
06 September, 2016