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It will feature high level speakers representing international institutions, such as the World Bank, International Monetary Fund (IMF) and the Islamic Development Bank, as well as leading institutions from Islamic countries around the world.
Discussions will focus on such key issues as the role of Islamic financial institutions in project finance, venture capital, the role and impact of sukuk as an instrument for developmental finance, strengthening inter-regional financing for development purposes and the future prospects of Islamic finance.
"The CBB is delighted to join hands with the UN-ESCWA in hosting this important event, focusing on development finance," said Mr. Abdul Rahman Al Sayed, Director, Islamic Financial Institutions, at the CBB.
Development finance, which is the provision of credit to a developing country to enable it to undertake development projects that it could not otherwise afford, is receiving considerable attention due to the significant levels of developmental activity being seen in the Arab countries.
"With the exponential growth of the Islamic banking industry in recent years, attention is also being focused on the role of Islamic banks in serving the communities in which they operate," said Mr. Al Sayed.
A key highlight of the upcoming conference will be a World Bank presentation on how Islamic finance can contribute to the development of the ESCWA region, which includes 13 countries. This will be supplemented by a presentation on the role of Islamic banks in mobilizing financial resources for development.
"As Islamic finance continues to gather pace in the global arena for asset management and the provision of commercial banking services, it also has an important role to play in enabling developmental activities,"
said Mr. Al Sayed.
The CBB looks forward to welcoming delegates from different regions for a constructive dialogue, following which recommendations and findings will be discussed.
The event will be held at the Ritz Carlton Hotel, Bahrain.
Posted by Medilyn Manibo, Assistant News Editor
