Tejoori supports the International Islamic Finance Forum

The International Islamic Finance Forum has established itself as the premier event in Islamic Finance - one of the world's fastest growing financial sectors.

As an international investment company, Tejoori is built on the foundation of ethical principles with a focus on Socially Responsible Investments (SRIs) that are Shari'a compliant. The company is a supporter of pre-eminent Islamic Finance events like the International Islamic Finance Forum and will continue its support as Strategic Partner in the upcoming event in Dubai in April of 2007. Steffen Schubert, Managing Director of Tejoori Limited, headed a senior delegation of Tejoori executives to the forum in Zurich.

Ahmad Abbas, CEO of Liquidity Management Centre (LMC) and Tejoori Board Member, delivered a presentation on the Sukuk Market at the forum in Zurich. Mr Abbas revealed that the global Sukuk market is worth approximately $15 billion, even excluding the Malaysian domestic and Al Salam Sukuk issues. Of this $15 billion, approximately $6 billion of the issues are Sovereign and $9 billion are corporate.

Mr Abbas also confirmed the dominant role the UAE has played in the development of this market, confirming that the UAE accounts for 45% of all Sukuk issuance. He further predicted the continuing growth of the Sukuk market citing three main factors: the likelihood of sustained oil prices at high levels, the budget surpluses and subsequent spending of many MENA Governments and the development and growth of private sector earnings.

Sheikh Fawaz Bashraheel, Chairman of Tejoori commented, 'We are proud to be associated with the International Islamic Finance Forum and actively support this premier event as one of the major sponsors. We see this sponsorship as part of our committed role in contributing to the continuous development of Islamic Finance and Investments.'

Steffen Schubert, Managing Director of Tejoori added, 'Key events such as the International Islamic Finance Forum is a natural platform for Tejoori and is completely in line with our strategic focus. We will continue to support the development of Islamic Finance and Socially Responsible Investing.'

The International Islamic Finance Forum at Zurich was organised by the Dubai-based Institute for International Research (IIR). The event focused on the growing demand for Shari'a compliant wealth management and private banking services.