Stage set for World Islamic Finance Forum in Karachi

KARACHI: Senator Mohammad Ishaq Dar, Minister of Finance would be the chief guest at World Islamic Finance Forum (WIFF) 2016, a unique conference being organized by CEIF IBA to bring together researchers, academicians and practitioners for generating innovative ideas to stimulate Islamic Finance growth while overcoming present day industry challenges.

The two-day conference would be held in Karachi on 5th and 6th September 2016. Governor State Bank of Pakistan Ashraf Mahmood Wathra, Chairman, Securities Exchange Commission of Pakistan (SECP) Zafar Hijazi, Dr. Ishrat Husain, Chairman, CEIF- IBA, Shaikh Muhammad Taqi Usmani, Shariah Board Chairman, Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI); Chairman Shariah Board, Meezan Bank and Deputy President, Dar ul Uloom, Karachi, Pakistan, Presidents of Islamic banks and many other important figures from national and PAKISTAN international financial institutions are participating in this International Conference.
These views were expressed by Ahmed Ali Siddiqui, Director, Centre for Excellence in Islamic Finance at Institute of Business Administration (CEIF-IBA) while addressing a Press Conference on Thursday. Dr. Farrukh Iqbal, Dean and Director, IBA and President, Meezan Bank Limited Irfan Siddiqui were also present on the occasion. Ahmed Ali informed that prominent Shari’ah scholars, renowned academicians, State Bank of Pakistan (SBP), Securities Exchange Commission of Pakistan (SECP), Islamic Research and Training Institute (IRTI), Thomson Reuters, World Bank, Islamic Corporation for the Development of the Private Sector (ICD), International Islamic Financial Market (IIFM), Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Ernst & Young, Deloitte & Touche in addition to key local and global Islamic financial institutions are participating in this mega event.

Overall, 13 global and 15 local institutions would be represented by industry experts on the Speaker Panels throughout the two-day conference at IBA. Global Islamic Finance Hubs including KSA, Bahrain, Malaysia and other GCC countries are participating in the conference. Additionally, speakers from USA and China are also participating in WIFF 2016.

Dr. Farrukh Iqbal, Dean and Director, IBA said that research papers and case studies presentation at WIFF 2016 would be focused on areas crucial for the development of Islamic Finance industry. Around 50 speakers representing regulatory bodies, Islamic finance infrastructure institutions, Islamic banks/windows, asset management companies, advisory firms and takaful players will be part of the event. Dr. Farrukh informed that research papers / case studies will be appraised by a renowned committee of practitioners and Shariah scholars. The 1st position has a hefty reward of $5000, whereas the 2nd & 3rd positions would be awarded $3000 & $2000 respectively.

Furthermore, 3 consolation prizes of US$ 500 each will be given in the Conference.
President, Meezan Bank Limited Irfan Siddiqui said that World Islamic Finance Forum (WIFF) 2016 is a unique conference being organized by CEIF IBA to bring together researchers, academicians and practitioners for generating innovative ideas to stimulate Islamic Finance growth while overcoming present day industry challenges. This academic cum industry conference would highlight the roadmap for future taking into consideration macroeconomic goals, business needs, social objectives, capacity building requirements, standardization issues, legal and Shari’ah implications.

President DIB Pakistan Mr Junaid Ahmed appreciated the role of IBA CEIF in bridging the gap between industry and academia. Other distinguished guests include Prof. Dr. Abbas Mirakhor, First Holder, INCEIF Chair of Islamic Finance, Dr. Azmi Omar, Director General, IRTI, Mustafa Adil, Head of Islamic Finance, Thomson Reuters, Dr. Muhammad Imran Ashraf Usmani, Group Head Product Development & Shariah Compliance and Resident Shariah Board Member, Meezan Bank, Mr. Ijlal Alvi, Chief Executive Officer, International Institute of Financial Markets, Mr. Hasan A. Bilgrami, President & CEO, BankIslami Pakistan, Mr. Mohammad Shoaib, CEO, Al Meezan Investment Management Limited, Dr. Zamir Iqbal World Bank Islamic Finance Development Centre (Turkey), Dr. Dawood Ashraf, Senior Researcher (Islamic Finance), IRTI, (Jeddah, Saudia), Mr. Najmul Hassan, Director FIDD, ICD (Jeddah Saudia), Mr. Mohamed Rafe Mohamed Haneef, CEO,CIMB Islamic Bank (Malaysia), Mr. Ashar Nazim – Partner Global Islamic Banking Center, Ernst & Young, Dr. Hatim El Tahir, Director Islamic Finance Group, Islamic Finance Knowledge Center Leader, Deloitte & Touche (Bahrain). Staff Reporter