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ISLAMIC FINANCE: ADAPTING TO THE NEW DYNAMICS OF GLOBAL FINANCE
19th Annual
Pre-Conference Summits: Sunday 9th December 2012
Morning Session
13.30 to 14.30 Pre Conference Luncheon Hosted by
08.00 to 09.00 Registration and Refreshment
09.00 Recitation of the Holy Qur’an
09.00 to 13.30 IIFM Industry Seminar on Islamic Capital Markets, Liquidity Management and Risk Mitigation Instruments
Led by the International Islamic Financial Market (IIFM) (Venue: Awal 2)
09.05 to 09.15 Welcome Remarks Khalid Hamad Abdul-Rahman Hamad Executive Director-Banking Supervision Central Bank of Bahrain & IIFM Chairman
09.15 to 09.40 Session 1: Global Sukuk Market Developments•Overview&Trends•SukukStructures•SecondaryMarketDevelopments
Chairperson / Presenter: Ijlal Ahmed Alvi Chief Executive Officer IIFM, Bahrain
Panelists: Saad Rahman Director-Islamic Banking Credit Agricole CIB, Dubai
Neil Miller Global Head of Islamic Finance KPMG, Dubai
Ismail Dadabhoy Advisor IIFM, Dubai
09.40 to 10.10 Session 2: Subordinated Debt and Sukuk•PotentialforSub-DebtSukuk•UseofSukukasTier2Capital•BaselIII,Legal&RegulatoryFramework
Presenters/Panelists: Lilian Le Falher Executive Manager - Head of Treasury, Financial Institutions &
Capital Markets Kuwait Finance House – Bahrain
Bilal Ahmed Counsel Allen & Overy LLP, Dubai
10.10 to 11.15 Session 3: Collateralization & Tri-Party Arrangements for Islamic Securities •Background,Issues&Challenges•Legal&RegulatoryFramework•CollateralizedProductStructuringAlternatives•UseofSukuk&IslamicEquitiesasCollateral•Tri-PartyArrangementforCollateralManagement(InternationalandDomestic)
Chairperson / Presenter: Ismail Dadabhoy Advisor IIFM, Dubai
Presenters / Panelists: Norashikin Mohd Kassim General Manager & Head of Treasury Bank Islam Malaysia Berhad, Kuala Lumpur
Habib Motani Partner Clifford Chance LLP, London
José Manoka Mussala Global Securities Financing Product Manager Clearstream Banking S.A Deutsche Börse Group,
Luxembourg
11.15 to 11.35 Prayer, Refreshment and Networking Break
11.35 to 12.10 Session 4: IIFM Inter-Bank Unrestricted Wakalah Standard•UseofWakalahArrangementinIFI’sandtheirincreasedroleasaLiquidityManagementTool
•UnrestrictedWakalah–Operationalissues,Standardization&Challenges
Chairperson / Presenter: Lilian Le Falher Executive Manager - Head of Treasury, Financial Institutions &
Capital Markets Kuwait Finance House – Bahrain
Presenters / Panelists: Aladin F. Al-Khatib EVP – Treasury Banking Group Al Hilal Bank, Abu Dhabi
Muhammad Nadeem Aslam Head-Islamic Banking, Islamic Banking Group (Meethaq) Bank Muscat
Mahesh Balasubramanian Partner-Audit & Advisory Services KPMG, Bahrain
12.10 to 13.05 Session 5: Key Islamic Hedging Products and ISDA/IIFM Standards•Tahawwut(Hedging)MasterAgreement•MubadalatulArbaah(ProfitRateSwap)Standard•KeyFeaturesofCrossCurrencySwapandFXForwards•LegalOpinions&LawReforms•MarketAdaptability&Implementation
Chairperson / Presenter: Ijlal Ahmed Alvi Chief Executive Officer IIFM, Bahrain
Presenters / Panelists: Saad Rahman Director-Islamic Banking Credit Agricole CIB, Dubai
Habib Motani Partner Clifford Chance LLP, London
Antoun Khalife Head of Group Treasury Sales Ahli United Bank, Bahrain
13.05 to 13.30 Session 6: Islamic Real Estate Investment Trusts (iREITS)
Dr. Md Nurdin Ngadimon Islamic Capital Market Business Group Securities Commission Malaysia
ISLAMIC FINANCE: ADAPTING TO THE NEW DYNAMICS OF GLOBAL FINANCE
19th Annual
14.30 to 16.30 Ratings Workshop on Towards Greater Transparency and Capital Markets Development
(Venue: Awal 3) Led by
14.30 to 16.30 The Road to Cultivating Robust Islamic Sukuk Markets Presented By: Sabeen Saleem Chief Executive Officer Islamic International Rating Agency (IIRA)
Evolution of the Takaful Industry Presented By: Said Gul Board Member & Executive Director Pak-Qatar Takaful Group
Regional Capital Market-Opportunities & Challenges Presented By: Hammad Hassan First Vice President – Head of Marketing ABC Islamic Bank (E.C.)
Islamic Banking in Sudan and the Need for Ratings Presented By: Fadi Salim Al Faqih Chief Executive Officer Bank of Khartoum
The Efficacy of Ratings Presented By: Ayaz Wasay Group Head Global Markets & Advisory Burj Bank Limited
Pre-Conference Summits: Sunday 9th December 2012
Afternoon Session
WIBC Conference Day 1: Monday 10th December 2012
08.00 to 09.00 Registration and Refreshments
09.00 Official Opening of the 19th Annual World Islamic Banking Conference (WIBC 2012)
09.00 to 09.05 Reading from the Holy Qur’an
09.05 to 09.10 Introductory Remarks
09.10 to 09.15 Moderator’s Welcome & Opening Remarks
Moderator: Nadine Hani Senior Business News Presenter Al-Arabiya News Channel
09.15 to 09.30 Inaugural Keynote Address: Improving the Enabling Infrastructure to Create Stronger Islamic Financial Institutions: Key Challenges for International Financial Reform
Inaugural Speaker: H.E. Rasheed Mohammed Al Maraj Governor Central Bank of Bahrain
Key Discussion Points:•AdaptingnewglobalfinancialstandardstotheIslamicfinanceindustry: Building solid foundations to support the next stage of growth
•Priorities,opportunitiesandchallengesfortheinternationalIslamicfinance industry
09.30 to 09.45 Session 1: Opening Keynote Plenary Session: Capacity Building to Support the International Development of Islamic Finance
Keynote Speaker: H.E. Khaled Mohammed Al-Aboodi Chief Executive Officer & General Manager The Islamic Corporation for the Development of the
Private Sector, the private sector arm of the Islamic Development Bank Group (IDB), Saudi Arabia
Key Discussion Points:•Initiativestoenhancethesupervisoryarchitecturetofacilitatetheinternational development of Islamic finance
•Harmonsationandcross-borderlinkages•Fast-trackingbestpracticestonewemergingjurisdictionsforIslamicfinance
09.45 to 09.55 Session 2: How Leading Institutions are Adapting to the New Dynamics of International Finance
Keynote Speaker: David C. Chavern Executive Vice President and Chief Operating Officer U.S. Chamber of Commerce
09.55 to 10.40 Session 3: Keynote Plenary Session: Industry Leaders’ Power Debate– New Growth Strategies for Islamic Finance: Adapting to the New Dynamics of Global Finance
Discussion Leader: Andrew Barstow Partner, MENA Financial Services Ernst and Young
Keynote Debaters: Adnan Ahmed Yousif Board Member and President & Chief Executive Al Baraka Banking Group
Toby O’Connor Chief Executive Officer The Islamic Bank of Asia
Suliman Azzabin Chief Executive Officer Al Rajhi Bank
Salah Jaidah Chairman - Islamic Finance Deutsche Bank AG
Asad Aziz Ahmed Managing Director Gulf African Bank
Key Discussion Points:•TheCEOAgenda:WhatCriticalSuccessFactorswillpropelIslamicfinance to the next level?
•Howcanobstaclesthatareholdingtheindustrybackbeovercome?•SizeMatters:Buildingscale,internationalreachandtheprospectsforindustry consolidation
•Addressingthechallengesofslowinggrowth:Drivingoperationaltransformation to achieve sustainable profitable growth
10.40 to 11.10 The World Islamic Banking Exhibition: Official Opening & Networking Break
11.10 to 11.25 Session 4a: New Horizons for Productive Financing through ‘Istisnaa Hedging’ of Musharakah
Presented By: Adnan Ahmed Yousif Board Member and President & Chief Executive Al Baraka Banking Group
P. Seif el-din Ibrahim Tag el-Din Imam Saud University, KSA Parallel Session
11.10 to 11.55 Session 4b : US Country Interface: The US Chamber of Commerce and the US-Bahrain Business Council – Building Partnerships for the Development of Islamic Finance (Venue: Al Murjan)
ISLAMIC FINANCE: ADAPTING TO THE NEW DYNAMICS OF GLOBAL FINANCE
19th Annual
Discussion Leader: Michael J.T. McMillen Partner, Curits, Mallet-Prevost, Colt & Mosle, LLP Lecturer, The University of Pennsylvania Law School and
The Wharton School of The University of Pennsylvania Opening Address: His Excellency Thomas Krajeski United States Ambassador to Bahrain
Her Excellency Houda Nonoo Bahrain Ambassador to the United States
Panelists: David C. Chavern Executive Vice President and Chief Operating Officer U.S. Chamber of Commerce
Samad Sirohey Chief Executive Officer Citi Islamic Investment Bank
Dr. Amr Abou-Zeid Managing Partner Islamic Finance Advisory & Development Agency, Egypt
11.25 to 11.45 Session 5a: The Official Launch of the Ernst & Young WIBC Competitiveness Report 2012/13
Led by
Growing Beyond: DNA of Successful Transformation
Half yearly results are out and 2012 looks to be another difficult yearfor Islamic banks in terms of profitability. This comes at a time when conventional giants are under unprecedented regulatory scrutiny and several European banks are deleveraging and curtailing operations in emerging markets. Clearly for Islamic banks, achieving the second trillion dollars is about demonstrating exceptional value to mainstream customers.
This demands unconventional leadership, to build a business architecture that will help win in the retail market. Ernst & Young’s World Islamic Banking Competitiveness Report 2012-13 examines Islamic banks’ efforts to penetrate the mainstream retail customers. The groundbreaking report also explores the road map being adopted by Islamic banks to make a transition to a double-compliant model, i.e., excellence in banking operations topped up by exceptional Shari’ah proposition.
Presented by: Ashar Nazim Partner, Head of Islamic Banking Excellence Center Ernst and Young
Shoaib Qureshi Senior Manager Islamic Financial Services MENA Ernst and Young
Parallel Session
11.25 to 12.10 Session 5b : RAM Ratings – Bridging Asia and The GCC (Venue: Exhibition Hall, Basement level – Convention Centre)
Led by
Chairperson: Datuk Dr. K. Govindan Group Chief Executive Officer/Executive Director RAM Holdings Bhd
Panelists: Chong Kwee Siong Technical Advisor - Group CEO’s Office RAM Holdings Berhad
Promod Dass Deputy Chief Executive Officer RAM Ratings
Zakariya Othman Head - Islamic Ratings RAM Ratings
Yeoh Teik Leng Head - Capital Markets Malaysia, Financial Markets Standard Chartered Bank Malaysia Berhad
Zulfe Ali Vice President-Corporate Finance Bahrain Mumtalakat Holding Company
Key Discussion Points:•TappingAsia’sSukukMarket•ForeignIssuersExperienceinAsia•PotentialforGCCinvestorstoinvestinAsianSukuk
11.45 to 12.35 Session 6: Connecting the World of Islamic Finance: Global Strategies for Global Markets
Discussion Leader: Rushdi Siddiqui Global Head Islamic Finance & OIC Countries Thomson Reuters
Speakers & Panelists: Feyzullah Egriboyun Executive Vice President Bank Asya
Dr. Mohammed Ghiyath Sheikhah Head of International Investment and Portfolio Department Qatar International Islamic Bank
Panelists: Ahmed Khizer Khan President & Chief Executive Officer Burj Bank Limited
Boyd Winton Director – Financial Services Bahrain Economic Development Board
Umera Ali Associate Baker & McKenzie
Key Discussion Points:•Beyondlocalborders:HowcanIslamicbankstapintohighgrowthcross-border deals?
•Innovatinginternationalproductsforinternationalmarkets•HowcanIslamicbanksbetterpositionthemselvestosucceedinanincreasingly international marketplace?
12.35 to 13.10 Session 7a: The Shari’ah Open Forum: Reviewing the Implications of Zakat for Financial Institutions and their Clients
Speaker & Panelist: Sheikh Dr. Abd Sattar Abu Ghuddah Shari’ah Scholar
Panelists: Dr. Aznan Hasan President, Association of Shari’ah Advisors in Islamic Finance
Assistant Professor and Shari’ah Advisor, International Islamic University Malaysia
Dr. Muhammad Al-Bashir Group Head of Shari’ah Bank Alkhair
Mohammed Paracha Partner and Head of Islamic Finance Middle East and Africa Norton Rose Group
Key Discussion Points:•WhatarethenewimplicationsforthetreatmentofZakatbyIslamicbanks and their clients?
•HowareIslamicfinancialinstitutionsaddressingtheseissues?
Parallel Session
12.35 to 13.30 Session 7b: UK Country Interface: New Initiatives Driving Islamic Finance in the UK
(Venue: Al Murjan)
Discussion Leader: Omar Shaikh Executive Board Member The Islamic Finance Council UK (‘IFC’)
Opening Speaker: HMA Iain Lindsay OBE British Ambassador to Bahrain British Embassy Bahrain
Agenda Day 1 continues...
ISLAMIC FINANCE: ADAPTING TO THE NEW DYNAMICS OF GLOBAL FINANCE
19th Annual
Panelists: Cassim Docrat Director DDCAP (DIFC) Limited
Alex Roussos Of counsel Norton Rose (Middle East) LLP
Darshan Bijur Director - Global Islamic Finance Centre of Excellence KPMG
Nicholas Edmondes Partner Trowers and Hamlins
Mohammad Farrukh Raza Founder and Managing Director IFAAS
John Willsdon Learning and Development Specialist Chartered Institute of Management Accountant (CIMA)
13.10 to 13.15 Moderator’s Summary Remarks
13.15 to 14.30 Conference Luncheon hosted by
14.30 to 15.15 Session 8a: New Innovations & Concepts Showcase (Venue: Al Dana 1)
(14.30 to 14.55) Positive Banking: A New Form of Banking
Speaker: Riyadh Y. Al-Rabiah Vice Chairman & Managing Director Saudi Steel Pipe Co.
(14.55 to 15.15) Islamic Gold: Launching the Islamic Gold Standard
Speaker: EL Mostafa Belkhayate Chief Executive Officer Belkhayate Finance SA
Key Discussion Points:•WhatisIslamicgold?•WhyIslamicgoldandwhere?•HowcanIslamicgoldbeakeyfactorforIslamicfinance?
Parallel Session
14.30 to 15.30 Session 8b: Women In Islamic Finance Networking Reception
(Venue: VIP Room) Hosted by
HostedBy: Joanne Emerson Taqi Partner and Head of Bahrain Office Norton Rose (Middle East) LLP
15.15 to 16.00 Session 9: Islamic Finance Gateway PowerTable: The Great Illusion - Is Islamic Finance Really a $1 Trillion Dollar Industry and Does it Continue to Grow at 20%?
(Venue: Al Dana 1)
SessionModerator: Bernardo Vizcaino Islamic Finance Correspondent - Middle East and North Africa Thomson Reuters
Panelists: Greg Rung Partner - Financial Services Oliver Wyman
Dr. Alexander von Pock Principal A.T. Kearney Middle East
Dr. Jarmo Kotilaine Chief Economist and Executive Director of Strategy and Planning Bahrain Economic Development Board
Khalid Ferdous Howladar Senior Credit Officer, GCC Financial Institutions Moody’s
Key Discussion Points:•WhatistherealgrowthrateofIslamicFinance?Isthatgrowthsustainable?Marketparticipantscontinuetoissuemultipleandever-larger estimates, despite the lack of accurate data, undermining cohesion and global recognition. This session will explore how the industry can accurately measure its own size and growth, as well as the need for global metrics.
•Whatarethealternativemeansofevaluatingtheindustry’sgrowthandsize?Howcanthesebeimplementedinordertocalculateamoreaccurate and representative evaluation of the industry? Can a single number provide a fair representation of the industry?
19.30 WIBC 2012 Gala Dinner
(20.00) The International Industry Awards Ceremony
21.30 Close of Conference Day 1
Agenda Day 1 continues...
WIBC Conference Day 2: Tuesday 11th December 2012
08.00 to 09.00 Morning Refreshments
09.00 to 09.05 Moderator’s Opening Remarks
Moderator: Nadine Hani Senior Business News Presenter Al-Arabiya News Channel
09.05 to 10.15 Session 10: Opening Plenary Session: Strengthening Institutions and Ensuring Stability: Key Priorities for Regulatory Development, International Financial Reform and Risk Management
Discussion Leader: Dr. Hatim El-Tahir Director - Islamic Finance Group Deloitte
Speakers: Khalid Hamad Abdul-Rahman Hamad Executive Director - Banking Supervision Central Bank of Bahrain
Dr. Khaled Al Fakih Secretary-General & Chief Executive Officer Accounting and Auditing Organisation for Islamic
Financial Institutions (AAOIFI)
Panelists: Ijlal A Alvi Chief Executive Officer The International Islamic Financial Market (IIFM)
Kashif Jahangiri Director - Global Islamic Finance Centre of Excellence KPMG
Salman Ahmed Partner Trowers and Hamlins
Michel Bou-Abboud Account Director – MENA Thomson Reuters Business
Key Discussion Points:•Promotingstabilityinturbulenttimes•Regulatoryreformandindustrystandardizationprioritiestocreateamore internationally cohesive Islamic finance industry
•Theinternationalconvergenceoffinancialreportingandimplicationsfor the Islamic finance industry: Towards greater transparency and improved standards
•RiskmanagementprioritiesfortheIslamicfinanceindustry:Improvinginstitutional strength and confidence
•AssessingtheroleofratingagenciesincreatingastrongerIslamicfinance industry
ISLAMIC FINANCE: ADAPTING TO THE NEW DYNAMICS OF GLOBAL FINANCE
19th Annual
10.15 to 10.30 Session 11: Special Guest Address: The Potential for Islamic Finance in Maghreb Countries
Special Guest Speaker: H.E. Jaloul Ayed Former Minister of Finance The Republic of Tunisia
10.30 to 11.00 The World Islamic Banking Exhibition Viewing & Networking Break
11.00 to 11.45 Session 12: Issuers and Investors Debate: Towards a New Sustainable Growth Trajectory for Sukuk
Featuring: LaunchoftheThomsonReutersZawya‘GlobalSukuk Perception and Forecast Study 2013’
Discussion Leader: Dr. Sayd Farook Global Head Islamic Capital Markets Thomson Reuters
Panelists: Samad Sirohey Chief Executive Officer Citi Islamic Investment Bank
Anthony C. Mallis Chief Executive Officer Securities & Investment Co (SICO)
Lilian Le Falher Executive Manager, Head of Treasury, Financial Institutions and
Capital Markets Kuwait Finance House, Bahrain
H. Jayesh Founder Partner Juris Corp
Key Discussion Points:•Reviewingthemarketpotential,trendsandappetiteforSukukin2013and beyond. What do the different types of investors want?
•WhatisthedemandlevelforSukukandforwhattypes?Willwereachdemand - supply equilibrium in 2013 or 2014?
•Areissuerspreparedtoservicetheserequestsoraretheylookingtoraise funding with the easiest possible manner?
•Asset-backedandAsset-basedSukukstructures:Isthisaninvestordriven phenomenon or a Sharia driven requirement?
•Howpositiveistheoutlookforcorporatesukukacrosskeymarkets?
Delegates now choose one of two concurrent sessions
11.45 to 12.15 Session 13a: The Islamic Investment Banking Summit: New Strategies for a New Environment
(Venue: Al Dana 1)
Discussion Leader: Nicholas Polley Partner Charles Russell LLP
Panelists: Moinuddin Malim Chief Executive Officer Mashreq Al Islami
Mohamad Safri Shahul Hamid Deputy Chief Executive Officer CIMB Islamic Bank Berhad (“CIMB Islamic”)
Hammad Hassan First Vice President – Head of Marketing ABC Islamic Bank (E.C.)
Key Discussion Points:•Howhavetheindustryleadersrestructuredtheirbusinesses?•Newbusinessmodelsandfeesources•Wherewillthenextphaseofgrowthopportunitiescomefrom?
Parallel Session
11.45 to 12.15 Session 13b: The Islamic Retail Banking Summit: Expanding the Consumer Banking Value Proposition
(Venue: Al Dana 2)
Discussion Leader: Prof. Andrew White Director, International Islamic Law & Finance Centre,
Associate Professor of Law, Singapore Management University
Panelists: Wasim Saifi Global Head Standard Chartered Saadiq, Consumer Banking
Mohammad Farrukh Raza Founder and Managing Director IFAAS
Humayun Jamshed Senior Director-Islamic Banking & Finance SAB International
Key Discussion Points:•AssessingtheoutlookforIslamicretailbankinginkeymarkets•HowcanIslamicbanksexpandtheirvalueproposition?
All delegates now reconvene for the Concluding Plenary Session in Al Dana 1
12.15 to 13.05 Session 14: Country Focus Roundtable: New Frontiers – New Growth Opportunities
A roundtable debate featuring a panel of international experts who
will address how well-positioned Islamic banks can explore new international high-growth opportunities in countries with sufficient target population, strong un-met demand and feasible market entry based on the competitive environment and regulatory climate. This interactive session will also explore how Islamic finance is being further deepened and mainstreamed in traditional core markets.
Panelists: Cheryl Packwood Chief Executive Officer Business Bermuda
Iyad G. Asali General Manager Islamic International Arab Bank
Feyzullah Egriboyun Executive Vice President Bank Asya
Behnam Gurbanzada, MBA, PhD Director - Islamic Banking International Bank of Azerbaijan
Nicolas Angio Managing Director Apex Fund Services (Dubai) Ltd
Eleanor de Rosmorduc Communications Officer Luxembourg for Finance
Harvesh Seegolam Assistant Director – International Business Services Board of Investment, Mauritius
Fawaz Elmalki Director Conyers Dill & Pearman
13.05 to 13.20 Moderator’s Summary of the Key Findings of WIBC 2012
13.20 to 15.00 Conference Luncheon hosted by
15.00 Close of the 19th Annual World Islamic Banking Conference
Agenda Day 2 continues...
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