pre-conference summits: sunday 9th december 2012 · pre-conference summits: sunday 9th december...

ISLAMIC FINANCE: ADAPTING TO THE NEW DYNAMICS OF GLOBAL FINANCE

19th Annual

Pre-Conference Summits: Sunday 9th December 2012

Morning Session

13.30 to 14.30 Pre Conference Luncheon Hosted by

08.00 to 09.00 Registration and Refreshment

09.00 Recitation of the Holy Qur’an

09.00 to 13.30 IIFM Industry Seminar on Islamic Capital Markets, Liquidity Management and Risk Mitigation Instruments

Led by the International Islamic Financial Market (IIFM) (Venue: Awal 2)

09.05 to 09.15 Welcome Remarks Khalid Hamad Abdul-Rahman Hamad Executive Director-Banking Supervision Central Bank of Bahrain & IIFM Chairman

09.15 to 09.40 Session 1: Global Sukuk Market Developments•Overview&Trends•SukukStructures•SecondaryMarketDevelopments

Chairperson / Presenter: Ijlal Ahmed Alvi Chief Executive Officer IIFM, Bahrain

Panelists: Saad Rahman Director-Islamic Banking Credit Agricole CIB, Dubai

Neil Miller Global Head of Islamic Finance KPMG, Dubai

Ismail Dadabhoy Advisor IIFM, Dubai

09.40 to 10.10 Session 2: Subordinated Debt and Sukuk•PotentialforSub-DebtSukuk•UseofSukukasTier2Capital•BaselIII,Legal&RegulatoryFramework

Presenters/Panelists: Lilian Le Falher Executive Manager - Head of Treasury, Financial Institutions &

Capital Markets Kuwait Finance House – Bahrain

Bilal Ahmed Counsel Allen & Overy LLP, Dubai

10.10 to 11.15 Session 3: Collateralization & Tri-Party Arrangements for Islamic Securities •Background,Issues&Challenges•Legal&RegulatoryFramework•CollateralizedProductStructuringAlternatives•UseofSukuk&IslamicEquitiesasCollateral•Tri-PartyArrangementforCollateralManagement(InternationalandDomestic)

Chairperson / Presenter: Ismail Dadabhoy Advisor IIFM, Dubai

Presenters / Panelists: Norashikin Mohd Kassim General Manager & Head of Treasury Bank Islam Malaysia Berhad, Kuala Lumpur

Habib Motani Partner Clifford Chance LLP, London

José Manoka Mussala Global Securities Financing Product Manager Clearstream Banking S.A Deutsche Börse Group,

Luxembourg

11.15 to 11.35 Prayer, Refreshment and Networking Break

11.35 to 12.10 Session 4: IIFM Inter-Bank Unrestricted Wakalah Standard•UseofWakalahArrangementinIFI’sandtheirincreasedroleasaLiquidityManagementTool

•UnrestrictedWakalah–Operationalissues,Standardization&Challenges

Chairperson / Presenter: Lilian Le Falher Executive Manager - Head of Treasury, Financial Institutions &

Capital Markets Kuwait Finance House – Bahrain

Presenters / Panelists: Aladin F. Al-Khatib EVP – Treasury Banking Group Al Hilal Bank, Abu Dhabi

Muhammad Nadeem Aslam Head-Islamic Banking, Islamic Banking Group (Meethaq) Bank Muscat

Mahesh Balasubramanian Partner-Audit & Advisory Services KPMG, Bahrain

12.10 to 13.05 Session 5: Key Islamic Hedging Products and ISDA/IIFM Standards•Tahawwut(Hedging)MasterAgreement•MubadalatulArbaah(ProfitRateSwap)Standard•KeyFeaturesofCrossCurrencySwapandFXForwards•LegalOpinions&LawReforms•MarketAdaptability&Implementation

Chairperson / Presenter: Ijlal Ahmed Alvi Chief Executive Officer IIFM, Bahrain

Presenters / Panelists: Saad Rahman Director-Islamic Banking Credit Agricole CIB, Dubai

Habib Motani Partner Clifford Chance LLP, London

Antoun Khalife Head of Group Treasury Sales Ahli United Bank, Bahrain

13.05 to 13.30 Session 6: Islamic Real Estate Investment Trusts (iREITS)

Dr. Md Nurdin Ngadimon Islamic Capital Market Business Group Securities Commission Malaysia


19th Annual

14.30 to 16.30 Ratings Workshop on Towards Greater Transparency and Capital Markets Development

(Venue: Awal 3) Led by

14.30 to 16.30 The Road to Cultivating Robust Islamic Sukuk Markets Presented By: Sabeen Saleem Chief Executive Officer Islamic International Rating Agency (IIRA)

Evolution of the Takaful Industry Presented By: Said Gul Board Member & Executive Director Pak-Qatar Takaful Group

Regional Capital Market-Opportunities & Challenges Presented By: Hammad Hassan First Vice President – Head of Marketing ABC Islamic Bank (E.C.)

Islamic Banking in Sudan and the Need for Ratings Presented By: Fadi Salim Al Faqih Chief Executive Officer Bank of Khartoum

The Efficacy of Ratings Presented By: Ayaz Wasay Group Head Global Markets & Advisory Burj Bank Limited

Pre-Conference Summits: Sunday 9th December 2012

Afternoon Session

WIBC Conference Day 1: Monday 10th December 2012

08.00 to 09.00 Registration and Refreshments

09.00 Official Opening of the 19th Annual World Islamic Banking Conference (WIBC 2012)

09.00 to 09.05 Reading from the Holy Qur’an

09.05 to 09.10 Introductory Remarks

09.10 to 09.15 Moderator’s Welcome & Opening Remarks

Moderator: Nadine Hani Senior Business News Presenter Al-Arabiya News Channel

09.15 to 09.30 Inaugural Keynote Address: Improving the Enabling Infrastructure to Create Stronger Islamic Financial Institutions: Key Challenges for International Financial Reform

Inaugural Speaker: H.E. Rasheed Mohammed Al Maraj Governor Central Bank of Bahrain

Key Discussion Points:•AdaptingnewglobalfinancialstandardstotheIslamicfinanceindustry: Building solid foundations to support the next stage of growth

•Priorities,opportunitiesandchallengesfortheinternationalIslamicfinance industry

09.30 to 09.45 Session 1: Opening Keynote Plenary Session: Capacity Building to Support the International Development of Islamic Finance

Keynote Speaker: H.E. Khaled Mohammed Al-Aboodi Chief Executive Officer & General Manager The Islamic Corporation for the Development of the

Private Sector, the private sector arm of the Islamic Development Bank Group (IDB), Saudi Arabia

Key Discussion Points:•Initiativestoenhancethesupervisoryarchitecturetofacilitatetheinternational development of Islamic finance

•Harmonsationandcross-borderlinkages•Fast-trackingbestpracticestonewemergingjurisdictionsforIslamicfinance

09.45 to 09.55 Session 2: How Leading Institutions are Adapting to the New Dynamics of International Finance

Keynote Speaker: David C. Chavern Executive Vice President and Chief Operating Officer U.S. Chamber of Commerce

09.55 to 10.40 Session 3: Keynote Plenary Session: Industry Leaders’ Power Debate– New Growth Strategies for Islamic Finance: Adapting to the New Dynamics of Global Finance

Discussion Leader: Andrew Barstow Partner, MENA Financial Services Ernst and Young

Keynote Debaters: Adnan Ahmed Yousif Board Member and President & Chief Executive Al Baraka Banking Group

Toby O’Connor Chief Executive Officer The Islamic Bank of Asia

Suliman Azzabin Chief Executive Officer Al Rajhi Bank

Salah Jaidah Chairman - Islamic Finance Deutsche Bank AG

Asad Aziz Ahmed Managing Director Gulf African Bank

Key Discussion Points:•TheCEOAgenda:WhatCriticalSuccessFactorswillpropelIslamicfinance to the next level?

•Howcanobstaclesthatareholdingtheindustrybackbeovercome?•SizeMatters:Buildingscale,internationalreachandtheprospectsforindustry consolidation

•Addressingthechallengesofslowinggrowth:Drivingoperationaltransformation to achieve sustainable profitable growth

10.40 to 11.10 The World Islamic Banking Exhibition: Official Opening & Networking Break

11.10 to 11.25 Session 4a: New Horizons for Productive Financing through ‘Istisnaa Hedging’ of Musharakah

Presented By: Adnan Ahmed Yousif Board Member and President & Chief Executive Al Baraka Banking Group

P. Seif el-din Ibrahim Tag el-Din Imam Saud University, KSA Parallel Session

11.10 to 11.55 Session 4b : US Country Interface: The US Chamber of Commerce and the US-Bahrain Business Council – Building Partnerships for the Development of Islamic Finance (Venue: Al Murjan)


19th Annual

Discussion Leader: Michael J.T. McMillen Partner, Curits, Mallet-Prevost, Colt & Mosle, LLP Lecturer, The University of Pennsylvania Law School and

The Wharton School of The University of Pennsylvania Opening Address: His Excellency Thomas Krajeski United States Ambassador to Bahrain

Her Excellency Houda Nonoo Bahrain Ambassador to the United States

Panelists: David C. Chavern Executive Vice President and Chief Operating Officer U.S. Chamber of Commerce

Samad Sirohey Chief Executive Officer Citi Islamic Investment Bank

Dr. Amr Abou-Zeid Managing Partner Islamic Finance Advisory & Development Agency, Egypt

11.25 to 11.45 Session 5a: The Official Launch of the Ernst & Young WIBC Competitiveness Report 2012/13

Led by

Growing Beyond: DNA of Successful Transformation

Half yearly results are out and 2012 looks to be another difficult yearfor Islamic banks in terms of profitability. This comes at a time when conventional giants are under unprecedented regulatory scrutiny and several European banks are deleveraging and curtailing operations in emerging markets. Clearly for Islamic banks, achieving the second trillion dollars is about demonstrating exceptional value to mainstream customers.

This demands unconventional leadership, to build a business architecture that will help win in the retail market. Ernst & Young’s World Islamic Banking Competitiveness Report 2012-13 examines Islamic banks’ efforts to penetrate the mainstream retail customers. The groundbreaking report also explores the road map being adopted by Islamic banks to make a transition to a double-compliant model, i.e., excellence in banking operations topped up by exceptional Shari’ah proposition.

Presented by: Ashar Nazim Partner, Head of Islamic Banking Excellence Center Ernst and Young

Shoaib Qureshi Senior Manager Islamic Financial Services MENA Ernst and Young

Parallel Session

11.25 to 12.10 Session 5b : RAM Ratings – Bridging Asia and The GCC (Venue: Exhibition Hall, Basement level – Convention Centre)

Led by

Chairperson: Datuk Dr. K. Govindan Group Chief Executive Officer/Executive Director RAM Holdings Bhd

Panelists: Chong Kwee Siong Technical Advisor - Group CEO’s Office RAM Holdings Berhad

Promod Dass Deputy Chief Executive Officer RAM Ratings

Zakariya Othman Head - Islamic Ratings RAM Ratings

Yeoh Teik Leng Head - Capital Markets Malaysia, Financial Markets Standard Chartered Bank Malaysia Berhad

Zulfe Ali Vice President-Corporate Finance Bahrain Mumtalakat Holding Company

Key Discussion Points:•TappingAsia’sSukukMarket•ForeignIssuersExperienceinAsia•PotentialforGCCinvestorstoinvestinAsianSukuk

11.45 to 12.35 Session 6: Connecting the World of Islamic Finance: Global Strategies for Global Markets

Discussion Leader: Rushdi Siddiqui Global Head Islamic Finance & OIC Countries Thomson Reuters

Speakers & Panelists: Feyzullah Egriboyun Executive Vice President Bank Asya

Dr. Mohammed Ghiyath Sheikhah Head of International Investment and Portfolio Department Qatar International Islamic Bank

Panelists: Ahmed Khizer Khan President & Chief Executive Officer Burj Bank Limited

Boyd Winton Director – Financial Services Bahrain Economic Development Board

Umera Ali Associate Baker & McKenzie

Key Discussion Points:•Beyondlocalborders:HowcanIslamicbankstapintohighgrowthcross-border deals?

•Innovatinginternationalproductsforinternationalmarkets•HowcanIslamicbanksbetterpositionthemselvestosucceedinanincreasingly international marketplace?

12.35 to 13.10 Session 7a: The Shari’ah Open Forum: Reviewing the Implications of Zakat for Financial Institutions and their Clients

Speaker & Panelist: Sheikh Dr. Abd Sattar Abu Ghuddah Shari’ah Scholar

Panelists: Dr. Aznan Hasan President, Association of Shari’ah Advisors in Islamic Finance

Assistant Professor and Shari’ah Advisor, International Islamic University Malaysia

Dr. Muhammad Al-Bashir Group Head of Shari’ah Bank Alkhair

Mohammed Paracha Partner and Head of Islamic Finance Middle East and Africa Norton Rose Group

Key Discussion Points:•WhatarethenewimplicationsforthetreatmentofZakatbyIslamicbanks and their clients?

•HowareIslamicfinancialinstitutionsaddressingtheseissues?

Parallel Session

12.35 to 13.30 Session 7b: UK Country Interface: New Initiatives Driving Islamic Finance in the UK

(Venue: Al Murjan)

Discussion Leader: Omar Shaikh Executive Board Member The Islamic Finance Council UK (‘IFC’)

Opening Speaker: HMA Iain Lindsay OBE British Ambassador to Bahrain British Embassy Bahrain

Agenda Day 1 continues...


19th Annual

Panelists: Cassim Docrat Director DDCAP (DIFC) Limited

Alex Roussos Of counsel Norton Rose (Middle East) LLP

Darshan Bijur Director - Global Islamic Finance Centre of Excellence KPMG

Nicholas Edmondes Partner Trowers and Hamlins

Mohammad Farrukh Raza Founder and Managing Director IFAAS

John Willsdon Learning and Development Specialist Chartered Institute of Management Accountant (CIMA)

13.10 to 13.15 Moderator’s Summary Remarks

13.15 to 14.30 Conference Luncheon hosted by

14.30 to 15.15 Session 8a: New Innovations & Concepts Showcase (Venue: Al Dana 1)

(14.30 to 14.55) Positive Banking: A New Form of Banking

Speaker: Riyadh Y. Al-Rabiah Vice Chairman & Managing Director Saudi Steel Pipe Co.

(14.55 to 15.15) Islamic Gold: Launching the Islamic Gold Standard

Speaker: EL Mostafa Belkhayate Chief Executive Officer Belkhayate Finance SA

Key Discussion Points:•WhatisIslamicgold?•WhyIslamicgoldandwhere?•HowcanIslamicgoldbeakeyfactorforIslamicfinance?

Parallel Session

14.30 to 15.30 Session 8b: Women In Islamic Finance Networking Reception

(Venue: VIP Room) Hosted by

HostedBy: Joanne Emerson Taqi Partner and Head of Bahrain Office Norton Rose (Middle East) LLP

15.15 to 16.00 Session 9: Islamic Finance Gateway PowerTable: The Great Illusion - Is Islamic Finance Really a $1 Trillion Dollar Industry and Does it Continue to Grow at 20%?

(Venue: Al Dana 1)

SessionModerator: Bernardo Vizcaino Islamic Finance Correspondent - Middle East and North Africa Thomson Reuters

Panelists: Greg Rung Partner - Financial Services Oliver Wyman

Dr. Alexander von Pock Principal A.T. Kearney Middle East

Dr. Jarmo Kotilaine Chief Economist and Executive Director of Strategy and Planning Bahrain Economic Development Board

Khalid Ferdous Howladar Senior Credit Officer, GCC Financial Institutions Moody’s

Key Discussion Points:•WhatistherealgrowthrateofIslamicFinance?Isthatgrowthsustainable?Marketparticipantscontinuetoissuemultipleandever-larger estimates, despite the lack of accurate data, undermining cohesion and global recognition. This session will explore how the industry can accurately measure its own size and growth, as well as the need for global metrics.

•Whatarethealternativemeansofevaluatingtheindustry’sgrowthandsize?Howcanthesebeimplementedinordertocalculateamoreaccurate and representative evaluation of the industry? Can a single number provide a fair representation of the industry?

19.30 WIBC 2012 Gala Dinner

(20.00) The International Industry Awards Ceremony

21.30 Close of Conference Day 1


WIBC Conference Day 2: Tuesday 11th December 2012

08.00 to 09.00 Morning Refreshments

09.00 to 09.05 Moderator’s Opening Remarks

Moderator: Nadine Hani Senior Business News Presenter Al-Arabiya News Channel

09.05 to 10.15 Session 10: Opening Plenary Session: Strengthening Institutions and Ensuring Stability: Key Priorities for Regulatory Development, International Financial Reform and Risk Management

Discussion Leader: Dr. Hatim El-Tahir Director - Islamic Finance Group Deloitte

Speakers: Khalid Hamad Abdul-Rahman Hamad Executive Director - Banking Supervision Central Bank of Bahrain

Dr. Khaled Al Fakih Secretary-General & Chief Executive Officer Accounting and Auditing Organisation for Islamic

Financial Institutions (AAOIFI)

Panelists: Ijlal A Alvi Chief Executive Officer The International Islamic Financial Market (IIFM)

Kashif Jahangiri Director - Global Islamic Finance Centre of Excellence KPMG

Salman Ahmed Partner Trowers and Hamlins

Michel Bou-Abboud Account Director – MENA Thomson Reuters Business

Key Discussion Points:•Promotingstabilityinturbulenttimes•Regulatoryreformandindustrystandardizationprioritiestocreateamore internationally cohesive Islamic finance industry

•Theinternationalconvergenceoffinancialreportingandimplicationsfor the Islamic finance industry: Towards greater transparency and improved standards

•RiskmanagementprioritiesfortheIslamicfinanceindustry:Improvinginstitutional strength and confidence

•AssessingtheroleofratingagenciesincreatingastrongerIslamicfinance industry


19th Annual

10.15 to 10.30 Session 11: Special Guest Address: The Potential for Islamic Finance in Maghreb Countries

Special Guest Speaker: H.E. Jaloul Ayed Former Minister of Finance The Republic of Tunisia

10.30 to 11.00 The World Islamic Banking Exhibition Viewing & Networking Break

11.00 to 11.45 Session 12: Issuers and Investors Debate: Towards a New Sustainable Growth Trajectory for Sukuk

Featuring: LaunchoftheThomsonReutersZawya‘GlobalSukuk Perception and Forecast Study 2013’

Discussion Leader: Dr. Sayd Farook Global Head Islamic Capital Markets Thomson Reuters

Panelists: Samad Sirohey Chief Executive Officer Citi Islamic Investment Bank

Anthony C. Mallis Chief Executive Officer Securities & Investment Co (SICO)

Lilian Le Falher Executive Manager, Head of Treasury, Financial Institutions and

Capital Markets Kuwait Finance House, Bahrain

H. Jayesh Founder Partner Juris Corp

Key Discussion Points:•Reviewingthemarketpotential,trendsandappetiteforSukukin2013and beyond. What do the different types of investors want?

•WhatisthedemandlevelforSukukandforwhattypes?Willwereachdemand - supply equilibrium in 2013 or 2014?

•Areissuerspreparedtoservicetheserequestsoraretheylookingtoraise funding with the easiest possible manner?

•Asset-backedandAsset-basedSukukstructures:Isthisaninvestordriven phenomenon or a Sharia driven requirement?

•Howpositiveistheoutlookforcorporatesukukacrosskeymarkets?

Delegates now choose one of two concurrent sessions

11.45 to 12.15 Session 13a: The Islamic Investment Banking Summit: New Strategies for a New Environment

(Venue: Al Dana 1)

Discussion Leader: Nicholas Polley Partner Charles Russell LLP

Panelists: Moinuddin Malim Chief Executive Officer Mashreq Al Islami

Mohamad Safri Shahul Hamid Deputy Chief Executive Officer CIMB Islamic Bank Berhad (“CIMB Islamic”)

Hammad Hassan First Vice President – Head of Marketing ABC Islamic Bank (E.C.)

Key Discussion Points:•Howhavetheindustryleadersrestructuredtheirbusinesses?•Newbusinessmodelsandfeesources•Wherewillthenextphaseofgrowthopportunitiescomefrom?

Parallel Session

11.45 to 12.15 Session 13b: The Islamic Retail Banking Summit: Expanding the Consumer Banking Value Proposition

(Venue: Al Dana 2)

Discussion Leader: Prof. Andrew White Director, International Islamic Law & Finance Centre,

Associate Professor of Law, Singapore Management University

Panelists: Wasim Saifi Global Head Standard Chartered Saadiq, Consumer Banking

Mohammad Farrukh Raza Founder and Managing Director IFAAS

Humayun Jamshed Senior Director-Islamic Banking & Finance SAB International

Key Discussion Points:•AssessingtheoutlookforIslamicretailbankinginkeymarkets•HowcanIslamicbanksexpandtheirvalueproposition?

All delegates now reconvene for the Concluding Plenary Session in Al Dana 1

12.15 to 13.05 Session 14: Country Focus Roundtable: New Frontiers – New Growth Opportunities

A roundtable debate featuring a panel of international experts who

will address how well-positioned Islamic banks can explore new international high-growth opportunities in countries with sufficient target population, strong un-met demand and feasible market entry based on the competitive environment and regulatory climate. This interactive session will also explore how Islamic finance is being further deepened and mainstreamed in traditional core markets.

Panelists: Cheryl Packwood Chief Executive Officer Business Bermuda

Iyad G. Asali General Manager Islamic International Arab Bank

Feyzullah Egriboyun Executive Vice President Bank Asya

Behnam Gurbanzada, MBA, PhD Director - Islamic Banking International Bank of Azerbaijan

Nicolas Angio Managing Director Apex Fund Services (Dubai) Ltd

Eleanor de Rosmorduc Communications Officer Luxembourg for Finance

Harvesh Seegolam Assistant Director – International Business Services Board of Investment, Mauritius

Fawaz Elmalki Director Conyers Dill & Pearman

13.05 to 13.20 Moderator’s Summary of the Key Findings of WIBC 2012

13.20 to 15.00 Conference Luncheon hosted by

15.00 Close of the 19th Annual World Islamic Banking Conference


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pre-conference summits: sunday 9th december 2012 · pre-conference summits: sunday 9th december...

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