H.E Dr. Omar Bin Sulaiman receives international recognition for 'Outstanding Contribution to the Development of Islamic Capital Markets'

H.E Dr. Omar Bin Sulaiman, the Governor of the Dubai International Financial Centre (DIFC) yesterday received international recognition for his role in developing the Islamic Finance industry when he won the award for 'Outstanding Contribution to the Development of Islamic Capital Markets' at the 2008 Sukuk Summit Awards of Excellence in London.

At a gala dinner held on 25 June in, London, Nasser Al Shaali, CEO of DIFC Authority received the Award on behalf of H.E. Dr. Omar Bin Sulaiman.

The Award acknowledges H.E. Dr. Omar Bin Sulaiman's leadership in developing key initiatives aimed at promoting the growth of the Islamic Finance industry.

The Sukuk Summit Awards of Excellence were part of the London Sukuk Summit 2008, an international conference aimed at exchanging ideas and insights about Sukuk market developments and innovation and discussing the future direction of the Islamic debt and capital markets.

The London Sukuk Summit is supported by the UK Treasury, the Financial Services Authority (FSA), the City of London Corporation and the Islamic Financial Services Board (IFSB).

It is also endorsed by UK Trade & Investment (UKTI), the trade promotion arm of the UK Department of Trade & Industry.

H.E. Dr. Omar Bin Sulaiman said:

"I would like to dedicate this award to HH Sheikh Khalifa Bin Zayed Al Nahyan, the President of the UAE and HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and the people of the UAE."

H.E. Dr. Omar Bin Sulaiman is a leading global industry figure who has steered the growth of many key initiatives in Dubai.

He led the launch and successful development of the first international financial exchange in the region, the Dubai International Financial Exchange (DIFX), and its growth into the world's largest exchange for sukuk.

Under his leadership, DIFC also established Waqf Trust Services, the first exclusive Islamic trust services provider in the world offering Sharia-compliant global trust services.

He is currently the Chairman of Young Arab Leaders (YAL) and Managing Director of the Dubai Culture and Arts Authority (DCAA).

"My achievement has been guided by the vision of HH Sheikh Mohammed, whose innovative leadership, policies and initiatives have transformed Dubai into a leading global financial centre. This development of DIFC into an international financial hub forms part of Dubai's larger strategy for diversified economic development," said H.E. Dr. Omar Bin Sulaiman

"One of DIFC's core objectives is to promote and develop Islamic Finance by providing a sound regulatory framework and platform for product innovation. I thank DIFC team members who have contributed to developing some of the key initiatives and programmes that support the growth of the sector. I would particularly like to thank the Islamic Finance Advisory Council, which has played a major role in supporting the development of this important sector," he added.

Established by DIFC in 2005, the Islamic Finance Advisory Council comprises key industry personalities who work with DIFC to provide expertise and insights as well as forecast future trends and highlight the impact of legal and regulatory initiatives locally and internationally on the Islamic Finance market within DIFC.