QIB Platinum Sponsor of Asia's largest Islamic finance summit

The Bank's Malaysia affiliate, Asian Finance Bank (AFB), is a primary participant in this event which will examine the profile of Islamic finance as it opens a new gateway of liquidity between Asia and the Gulf.

The summit also focuses on sukuk, risk and asset management and syndicated loans, featuring appearances by experts of Islamic finance including noted policy makers, regulatory advisors and market participants.

QIB and AFB are the Platinum sponsors of this summit, one of the premier Islamic finance events for the industry.

The Islamic Finance Asia Summit is an opportunity for participants to hear the industry's most senior professionals and distinguished representatives discuss how Islamic finance has been affected by global economic conditions, new Sharia'-compliant products and solutions developed in response to the current environment and how the industry will proceed into the future.

AFB's CEO, Mr. Mohamed Azahari Kamil, will deliver a speech discussing the advantages of financing Asia real estate market deals with Sharia'-compliant options.

Dr. Mohamad Nedal Al Chaar, Secretary General of the Accounting & Auditing Organization for Islamic Financing Institutions (AAOIFI), the regulatory body regarding accounting, auditing, governance, ethics and Sharia' standards for Islamic institutions, will be speaking regarding AAOIFI's recent rulings and how they have affected sukuk issuance.

Chairman of the Securities Commission Malaysia, Ms. Zarinah Anwar, will deliver the summit's keynote address detailing the application of Islamic finance in the Malaysian marketplace.

The current global credit crunch has presented Islamic finance with a unique opportunity to extend into wider markets as a source of funding.

The summit's key issues to be discussed include sukuk issuance, comparison of cash flow in conventional and Sharia'-compliant structures, portfolio diversification and Asia's appetite for Islamic liquidity and how Islamic banks are countering the global credit crisis.

Mr. Salah Jaidah, QIB CEO, said of the Bank's summit attendance:

"The Islamic Finance Asia Summit is an important event on the industry calendar. These events research the opportunities open to Sharia'-compliant finance and debate the prospects and challenges the globalization of the industry presents. As the global demand for socially-responsible investments grows, platforms such as this summit provide a perfect avenue through which to discuss currency, pricing and product innovation and how these relate to the current and future needs of the market."

The Islamic Finance Asia Summit is timely, as AFB expands into the local and regional Sharia'-compliant banking and finance industry. With Malaysia acting as the region's hub, Asia is at the forefront of new developments within this dynamic industry. Pakistan and Indonesia have made notable moves to develop a favorable regulatory environment, and Hong Kong, Singapore and Japan have made clear their intentions to develop Islamic finance in their respective markets.

AFB CEO, Mr. Kamil, said of the bank and its support of the summit, "The Islamic Finance Asia Summit is the perfect place for industry professionals to discuss the options opening to Sharia'-compliant finance in the region. AFB offers clients a competitive advantage by being the bridge to channel not only funds, but business links from the Middle East into Malaysia and the region and vice versa. AFB leverages the experience and expertise of its established affiliate and shareholder, QIB, as well as its strong distribution capability to act as the prime Islamic financing link between the Gulf states and Malaysia."

QIB is a 70% shareholder of AFB and the bank acts as QIB's initial footprint in the Asian market. AFB was established in 2007 as a truly regional bank, offering a complete suite of Sharia'-compliant consumer, commercial, corporate, treasury and investment products. AFB performs as a link between Malaysia, Southeast and west Asia and the GCC via its Kuala Lumpur headquarters and representative office in Indonesia.

QIB sponsored and participated in the sister conference to this event, EuroMoney's 7th Annual Islamic Finance Summit, last February in London. The summit explored the opportunities Islamic finance provides the financing of European acquisitions, European sukuk markets and steps Islamic institutions could take to counter global liquidity issues.