Islamic investments industry on growth path
Manama, September 12, 2011
The Islamic funds and investments industry is gaining substantial momentum at a global level as more and more international issuers and investors continue to seek Sharia-compliant instruments as an attractive alternative for raising capital, said an expert.
With the intensification of globalisation process in the Islamic funds and investments industry, it is essential that the exciting opportunities in new jurisdictions are tapped into in order to sustain global growth for the Islamic investments industry, said David McLean, organiser of the seventh annual 'World Islamic Funds and Financial Markets Conference' (WIFFMC 2011).
Convened under the official support of the Central Bank of Bahrain (CBB), WIFFMC 2011 will gather more than 400 key players, regulators and thought leaders in the global Islamic funds and investments industry at the Gulf Hotel from Sept 26 to 27.
The conference will feature critical discussions that will focus on strengthening the Islamic funds and investments industry and building international growth by tapping into exciting new jurisdictions.
'Amidst increasing international integration of Islamic finance, cross-border Sharia-compliant investment flows are increasingly contributing to more efficient mobilisation and allocation of funds across regions and also strengthening the financial and economic linkages across various jurisdictions,' said McLean.
'These trends have undoubtedly supported and reinforced the recovery and growth of the global Islamic funds and investments market.
'It is essential that the recent momentum that the Islamic funds and investments industry has gained in the post-crisis landscape is further intensified in order to get the industry back on the high-growth track.'
'There are tremendous opportunities for the industry as investors are in search of new investment avenues and asset-classes for greater risk diversification and improved returns,' said CBB executive director financial institutions supervision Abdul Rahman Mohammed Al Baker, who will make the opening keynote address.
'It is essential that the industry undergoes innovation in terms of introduction of new asset-classes, improvements in global Sharia standardisation, and development of new products and structures,' he noted.
'It is also vital to facilitate greater sharing of technical expertise and experiences on Islamic financial markets and infrastructure development including the harmonisation of regulatory arrangements. WIFFMC 2011 will be an ideal platform for the industry to tackle these critical challenges,' he added.-TradeArabia News Service