Global financial experts at Bahrain summit
Manama, May 27, 2013
Leading players, industry thought leaders and key regulators in the international Islamic investments and asset management industry are taking part in the 9th Annual World Islamic Funds and Financial Markets Conference being held in Bahrain.
The two-day conference is taking place in strategic partnership with the Central Bank of Bahrain (CBB), organisers said.
More than 400 international industry leaders are expected to participate in critical discussions that will focus on "Broadening the Base of Investors and Issuers; and Boosting the International Growth of Islamic Capital Markets and Investments".
The conference opened with a keynote address by CBB executive director for financial institutions supervision Abdul Rahman Mohammed Al Baker.
The recent acceleration in the Islamic funds and investments industry is set to grow further as governments and institutions in the Middle East, South East Asia and beyond increasingly seek Sharia-compliant instruments as a viable alternative for raising capital and also for diversifying their investment portfolio, he said.
"In order to continue the strong growth momentum, it is essential to create a stronger regulatory framework and further strengthen the global architecture of the industry.
"I hope that discussions at this year's conference would derive strategic insights on building a stronger and more stable foundation for the industry," he added.
The inaugural session also featured an address by Accounting and Auditing Organisation for Islamic Financial Institutions secretary-general and chief executive Dr Khaled Al Fakih.
Bahrain Economic Development Board chief economist and executive director of strategy and planning Dr Jarmo Kotilaine focused on the global and regional economic outlook and its impact on the Islamic investments market.
"The development of Islamic asset management remains critical for the continued success and growth of Sharia-compliant finance," Dr Kotilaine said.
"By offering a diverse mix of competitive funds, the sector can help channel a growing share of capital available into productive investments.
"The industry also has a key role to play in presenting ordinary savers and investors with a range of options that can enable them to save for their financial futures in a balanced and prudent manner," he added.
According to Dr Kotilaine "substantial untapped opportunities still exist in all these areas and catering to these growing needs will entail significant positive potential for financial services and the broader economy alike".
The winner of the prestigious WIFFMC 2013 Islamic Investment Institution of the Year Award will also be announced at the event. Another key highlight will be the CEO and Industry Leaders' Power Debate.-TradeArabia News Service
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