WIBC to see global launch of 5th McKinsey Competitiveness Report 2008/09

This groundbreaking original research project, conducted annually by McKinsey & Company, is now in its 5th year of providing new analysis on the growth and performance of the Islamic banking sector. Ozgur Tanrikulu, Partner (Principal) at McKinsey & Company, notes that the Competitiveness Report will highlight the recent developments in Islamic finance, including growth and performance, the challenges and opportunities facing the industry in the context of the current economic climate, and their implications on business models.

Speaking ahead of the conference Mr. Tanrikulu commented:

"We have conducted a deep dive into key business segments, including Sukuk, Takaful, Islamic Wealth Management and Asset Management, as well as Retail Banking, where we discuss the trends, growth drivers, as well as the characteristics of winning business models and offerings. Most importantly what is unique this year is that we have met with a number of leaders of major financial institutions, both in the GCC and Asia, and we will be sharing their perspectives on the industry in the Competitiveness Report."

The launch of the 2008/09 report at the WIBC Executive Briefing will be led by Mr. Tanrikulu and Amer Afiouni, Associate Principal at McKinsey & Company. In addition, McKinsey partners from key international centres will participate in the briefing, which will take the form of a dynamic and interactive discussion of the strategic challenges facing the executive leadership of Islamic financial institutions. Over the past 5 years, the Competitiveness Report has established itself as an indispensable reference resource for decision-makers striving to raise the bar of strategic leadership and financial performance in this global industry - and the findings will be even more critical this year given the turmoil in the international financial markets.

The launch of the the reportwill be a unique opportunity to examine established and potential growth markets, identify major high-potential segments, and grasp an in-depth overview of the competitive landscape. The workshop format will also offer an invaluable platform to discuss the findings of a series of interviews with key decision-makers in the industry to establish their perspectives on the industry outlook, the significant opportunities and challenges currently being faced as the Islamic finance industry continues to grow against the backdrop of the economic crisis.

More than 1,000 delegates from over 45 countries are expected to attend the 15th Anniversary WIBC, the world's largest gathering of Islamic finance leaders.