A gathering of Islamic finance practitioners discussed the future trends in sukuk and Islamic project and infrastructure finance, at the inaugural IFN Global Forum 2014 held recently in Dubai, UAE.

The gathering was addressed by Dentons, a multinational law firm.

The conference follows the vision of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to position Dubai as the centre of the global Islamic economy.

The conference was co-organised with the Dubai Economic Council, the Dubai Government and other key regulators and covered the full sphere of Islamic finance topics.

Over the past five years, the industry has reported a compound annual growth rate in excess of 17 per cent. In December 2013, total Islamic finance assets were estimated to be worth approximately $1.8 trillion. The industry is diversifying into many non-Muslim countries across the globe and increasingly innovative Islamic finance products are becoming available in the world's markets.

Qasim Aslam, Dentons' head of Islamic finance, Middle East, said: "The Islamic finance industry is moving from strength to strength and events such as this forum are crucial to the growth and development of the industry. Over the years, IFN has played a pivotal role in bringing stakeholders together and Dentons is delighted to take part in shaping the debate."

Aslam moderated a panel discussion which explored the rise and viability of new market segments in Sukuk and also structural innovation trends that are emerging globally. He said:  "There is good news in the marketplace with the level of issuances increasing. Recently we have seen the trend of sovereign issuers in our region tapping both conventional and Islamic capital markets. Internationally, Hong Kong and the UK are doing the same although Malaysia and Saudi Arabia are stand-out market leaders." – TradeArabia News Service