MANAMA: More than 400 experts from the international Islamic funds and investments industry are set to gather at the Seventh Annual World Islamic Funds and Financial Markets Conference 2011, which opens at the Gulf Hotel today.
Held under the theme “Achieving International Scale: Creating Vibrant Islamic Financial Markets and Re-Invigorating the Islamic Investments Industry”, the two-day event will set the stage for critical discussions that will evaluate strategies to reignite growth and achieve a critical mass for the global Islamic funds and investments industry.
“There is significant potential for Islamic investments to play a more active role in mobilising funds across regions and financial centres,” said organiser, managing director of the World Islamic Funds and Financial Markets Conference, David McLean.
“Opportunities exist to use Islamic funds and investments to deepen global connectivity thus contributing to the current efforts aimed at achieving global scale for the industry.”
Held under the strategic partnership of the Central Bank of Bahrain (CBB), the conference which has over the years become the world’s most significant and influential annual platform for the global Islamic investments industry leaders to converge, will this year feature critical discussions and debates that are vital to successfully support the next phase of development for the global Islamic funds and investments market.
“Despite the strong potential for Sharia-compliant funds and investment instruments in the global market, a number of economic, legal and regulatory challenges remain which need to be addressed to further strengthen growth,” said CBB executive director of financial institutions supervision Abdul Rahman Al Baker.
“It is critical to facilitate harmonisation of standards and practices globally so that the industry can realise its full potential in the international markets.
“With the strong and robust regulatory frameworks adopted by the CBB, Bahrain will continue to be one of the leading financial centres in the region and a global leader in Islamic finance,” Mr Al Baker said.
“Bahrain takes pride in its role as a pioneer and leader in the Islamic finance sector and we are delighted to be hosting the annual World Islamic Funds & Financial Markets Conference,” said Bahrain Economic Development Board chief executive Shaikh Mohammed bin Essa Al Khalifa.
“It is vital that the industry continues to evolve and grow taking into account the changing economic realities and the wider global Islamic population that will benefit from a strong and dynamic Islamic finance industry, and bringing together industry leaders at events such as these is an important way of making that happen.”
Source: Noor Islamic Bank Social Media