The 3rd Annual World Islamic Funds & Capital Markets Conference opens

The opening day was attended by more than 300 international and regional market leaders from the global Islamic investments industry.

The Conference, held for the third year in Strategic Partnership with the Central Bank of Bahrain, has fully established itself as the pre-eminent platform for debate and discussion between regional and international fund managers, investors, asset managers, regulators, bankers, consultants and policy-makers on the latest market developments, growth and new product opportunities in the Investment Funds & Capital Markets landscape.

Following the Governor in the keynote plenary session were chairmen & CEOs of market-leading institutions. In this segment, Khalid Al Bassam, Chairman, Bahrain Islamic Bank, and Mustafa E. Al Salah, Managing Director & Chief Executive Officer, Adeem Investment addressed the outlook for further growth in the Islamic investments industry.

Abbas Al Derazi, The General Manager of BankMuscat International (BMI) said: "BMI is delighted to be the Platinum Strategic Partner of the 3rd Annual WIFCMC, at this moment in the development of Islamic financial markets, which are now set for further exciting growth."

The accompanying Exhibition was opened by HE Rasheed M. Al Maraj and showcased market leading Islamic banks and other financial institutions.

"Market Leaders Perspectives - Evaluating Key Trends & Emerging Opportunities in Islamic Investment Funds & Capital Markets" was addressed at the next session, in which presentations were delivered by Marwan Al Khatib, Managing Director of Dubai Islamic Investment Group, and Dr. Omar Marwan Kamal, EVP - Investment Group Head of Al Salam Bank. Dr. Omar presented his insights on the potential booming market for Islamic Private Equity. The session featured additional panelists Syed Hassan, General Manager - Corporate Banking, Masraf Al Rayan, and Hanuman Tripathi, Managing Director of Infrasoft Technologies.

Abdul Rahman Al Baker, Executive Director - Financial Institutions Supervision of the Central Bank of Bahrain; Dr. Ahmad M. Jachi, First Vice-Governor of the Central Bank of Lebanon, and Ijlal Alvi, Chief Executive Officer, International Islamic Financial Markets then focused on Developing an Effective Regulatory Environment for the successful advancement of Islamic Funds & Capital Markets, also highlighting regional and international perspectives on key regulatory developments. The session was moderated by Akram Maarouf Khodr, Financial & Economic Consultant for CNBC Arabiya, ensuring a smooth flow of interactive Q&A from the large audience.

The next session featured Saqib Rashid, Vice President - Investment, Abraaj Capital Limited; Douglas Clark Johnson, Chief Executive Officer, Calyx Financial; Richard Zakaria Foyston, Founder Partner & Managing Director, Navis Capital Partners and Khaled Hassan Rashed, CEO & Board Member, CORECAP and focused on whether Private Equity coupled with Shari'ah Compliance can lead to the Next Big Boom while discussing global developments with regards to the industry and development in the Islamic private equity space. The discussions in the session were led by Harris Irfan, Director: Global Markets, Deutsche Bank.

The last session of the day was the "Shari'ah & Business Open Forum on Capital Markets - Managing Shari'ah Compliance of Increasingly Complex Financial Instruments" where Yasser Saud Dahlawi, Chief Executive Officer, Shariyah Review Bureau; Elwaleed M. Ahmed, Legal Consultant, Kuwaiti Lawyer Law Firm (Yaqoub Y. Al-Munayae & Partners Firm) - Kuwait; Dr. Mohamed Elgari, Shari'ah Advisor & Professor of Islamic Economics, King Abdulaziz University & Essam Al Enzi, Shari'ah Controller, Investment Dar discussed how Shari'ah rulings must keep pace with the rapid development of complex financial products and instruments, and how to move towards more effective interaction between the Shari'ah board and the business.

The Gala Dinner, hosted by Bahrain Financial Services Development, featuring the World Islamic Funds Excellence Award & the World Islamic Capital Markets Excellence Award will take place tonight at the spectacular Bahrain International Circuit, where delegates will enjoy a high-tech Formula 1 evening of entertainment and networking.

Market-leading international organisations sponsored the 3rd Annual World Islamic Funds & Capital Markets Conference. These included Platinum partners - Investment Dar, Bahrain Islamic Bank, BankMuscat International, Adeem Investment, Leadership Partner - Bank Al Jazira, Strategic Partner - McKinsey & Company, Gold Strategic Partner & Awards Associate - Ernst & Young, Real Estate Development Partner - Masraf Al Rayan, Fund Management Partner - DWS Investments, Gold Partner & Delegate Sponsor - Infrasoft Technologies, Gold Strategic Partners - Calyon Corporate & Investment Bank, ADAM, Al Madar, Asset Management Partner - Calyx Financial, Technology Partner - Path Solutions, Silver Strategic Partners - KPMG, Shariyah Review Bureau & Makaseb Islamic Financial Services.

The second day's conference proceedings will begin with the much anticipated Keynote session with the internationally acclaimed investment guru, Harry S. Dent Jr. on understanding and anticipating financial markets today.