Kuwait Finance House-Bahrain announced as Platinum partner of Euro WIBC

Significant developments in the UK and Europe augur well for the continued international expansion of Shari'ah-compliant finance.

The UK's Treasury Minister, Kitty Ussher, one of the Keynote speakers at the forthcoming European Summit of the World Islamic Banking Conference (Euro WIBC), has recently outlined the UK Government's response to the consultation on a Sterling Sukuk issuance saying the government favoured a 'bill-like' Sukuk programme, which could be fully integrated with the conventional Treasury bill programme. Industry observers have pinpointed this issue as a potential catalyst for the dynamic growth of Islamic finance in the UK and throughout Europe as a whole.

Attracting key decision-makers representing the international industry, Euro WIBC 2008 is delighted to announce Kuwait Finance House-Bahrain as the Platinum Strategic Partner. Established in October 2002 as the first fully-owned subsidiary of Kuwait Finance House, KFH-Bahrain brings to the market a compelling concept in Islamic Banking combining both Islamic investment banking and Islamic commercial banking facilities.

According to Abdulhakeem Alkhayyat, Managing Director and C.E.O.: "Islamic banking assets are currently estimated at $750bn in value and will top the $1 trillion mark by 2010. This continuous expansion is being driven by a global demand in Shari'ah compliant financial products, and services in which we continue to pioneer."

Euro WIBC 2008 builds on the 15 years of success of the flagship World Islamic Banking Conference in Bahrain, and brings to London a high-profile speaker line to stimulate new insights into the drivers of Islamic finance in the European markets.

Associate Attorney Abdi Shayesteh from New York law firm, King & Spalding, notes that holding an event of this magnitude in the UK is of great significance as the global competition for Shari'ah-based capital reaches new heights. "Its presence in the UK capital signals a major shift in the West in the perception of Islamic Finance and Banking. I am delighted to be a part of this inaugural conference and I look forward to sharing my expertise in areas of corporate finance and bank regulatory matters relating to Islamic finance, emerging growth industries and international business transactions."

Euro WIBC 2008 features a powerful opening keynote session which includes Kitty Ussher, Economic Secretary to HM Treasury, Shaikh Mohammed bin Isa Al Khalifa, Chief Executive Officer of the Bahrain Economic Development Board, HE Rasheed M. Al Maraj, Governor of the Central Bank of Bahrain, and Andrew Cahn, Chief Executive Officer of UK Trade & Investment.

More than 400 international delegates are expected to attend the inaugural Euro WIBC in London on the 8th of July 2008.