Saturday 31 October 2020

S&P Global Ratings to discuss Islamic finance sector outlook

DUBAI, September 20, 2020

S&P Global Ratings will host two virtual panel discussions around Covid-19’s overall impact on the Islamic Finance sector and GCC ratings, respectively. 
The online event will feature a number of leaders from the Islamic financial services industry, in addition to senior S&P Global Ratings analysts.
On September 22, panelists will share their outlook for the sector for 2020-2021. The conference will also feature in-depth discussion of the impact of Covid-19 on the Islamic Finance industry, and an exploration of transformational development opportunities.
In the second series on September 29, S&P Global Ratings senior analysts will discuss the outlook for the GCC sovereign, financial, corporate and insurance ratings.
This year’s edition of the conference is being held in partnership with the Dubai International Financial Centre (DIFC) and the Dubai Islamic Economy Development Centre (DIEDC).  The event is also being supported by the Global Islamic Economic Summit (GIES) series, thus elevating the Islamic principles as they play a growing significance in today’s global business environment.
Very recently, S&P Global Ratings has been awarded the ‘GIFA Championship Award (Islamic Financial Ratings)’ by Global Islamic Finance Awards 2020 (GIFA), for the third year in a row. The common denominator of these awards is S&P Global Ratings longstanding commitment to keep pace with market innovation in Islamic finance and provide robust and independent credit analysis to the investors and the market on Islamic institutions and sukuk ratings.
Inviting participants to the complimentary virtual sessions, Hadi Melki, Managing Director at S&P Global Ratings said: “2020 marks the 10th year of the annual Islamic Finance conference and we are truly honored for the recurring accolade from GIFA. These notable anniversary achievements highlight the continued significance of the event as an important opportunity for professionals across the industry to gather together and share critical and future looking insights. We are delighted to once again host an event that brings such immense value to the Islamic Finance sector. We would like to offer our sincere thanks to DIFC, DIEDC, and GIES for their partnership and support, but most importantly for leading the advancement of the Islamic finance industry here in the UAE.
“This year’s virtual conference will highlight how several Islamic finance instruments, including green sukuk, social instruments, and higher digitalization and fintech collaboration can be used to support recovery efforts post COVID-19 in core Islamic countries. The event will also discuss ways in which the industry can put Islamic Finance more prominently on ESG investors' radar. At S&P Global Ratings, we are deeply committed to driving these important conversations in our industry and continuing to deliver intelligence to meet our commitment to our audiences.”
Arif Amiri, CEO of DIFC Authority, said: “DIFC is pleased to continue our longstanding partnership with S&P Global Ratings to host the 10th Annual Islamic Finance Conference. It will address trends in the Islamic finance industry as help inform Dubai’s mission to become the capital of Islamic economy by 2030. Islamic finance has an increasing role to play in boosting the resilience of the financial industry in a post pandemic world. A key principle of the sector is to enhance human wellbeing, ensuring that ‘no one is left behind’.
“We look forward to discussing progress in the Islamic finance sector during the conference and will work with our clients to sustainably maximise opportunities the event identifies.”
Abdulla Al Awar, CEO of Dubai Islamic Economy Development Centre, will deliver this year’s keynote address. The first panel discussion will focus on current opportunities in the Islamic finance environment to accelerate and unlock the long-term potential of the industry.
The panellists for the first session will include representatives from Arqaam Capital, Al Baraka Banking Group, Dubai Islamic Economy Development Centre, and S&P Global Ratings. 
Meanwhile, the second session, which will discuss the twin impact of Covid-19 and low oil prices on GCC ratings and opportunities for Islamic finance to play a key role in the regional economies, and will feature an exclusive panel of S&P analysts. Attendees will be given the opportunity to ask questions before and during each discussion.
Both sessions are free to attend and will begin at 11:00am GST on both days. - TradeArabia News Service


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