World Islamic Funds Conference brings together investors and asset managers

The inaugural World Islamic Funds Conference is a high-profile platform for debate between the International decision makers representing Investors and Asset Managers from the global Islamic finance industry. Speakers from UK, Germany, USA, UAE, Kingdom of Bahrain, Singapore, Pakistan, Malaysia, Lebanon and Kingdom of Saudi Arabia came together to discuss the exciting growth in the emerging market of Islamic Funds.

HE Rasheed Mohammed Al Maraj, BMA Governor, said: "It is our constant endeavour to improve the environment for Islamic funds in the global investment market. Bahrain's advances in regulation of Islamic instruments have had a positive impact on this fast growing segment of the Islamic Financial industry, and we are delighted to host this important world conference in the Kingdom".

Opening the first day's proceedings, Abdulrahman Al Baker, Director, Financial Institutions Supervision, Bahrain Monetary Agency and Nik Ruslin Nik Jaafar, Acting Head / Principal in the Islamic Market Department, Securities Commission, Malaysia led the discussions at the inaugural Regulators Table session entitled "Balancing Regulation, Supervision & Innovation in the Global Islamic Funds Industry." WIFC 2005 moderator and CNBC Arabia presenter Mureed Hammad moderated the session.

Many in the region believe the economy is at a crucial point in development. Several family owned conglomerates are actively pursuing IPOs and others are considering alternative routes to raising capital and developing their businesses. Stock markets throughout the region are showing strong performances and continued high oil prices maintain a strong capital base.

Against this backdrop, investors from the region and outside are increasingly seeking ethical ways to exploit opportunities, with many turning to Islamic funds as part of their portfolios.

The "Key Opportunities and Challenges Facing the Global & Regional Investment Funds Industry" were addressed at the next session that focussed on opportunities and challenges that Islamic funds face and highlighted emerging trends in the Islamic funds market. The session looked in detail at the development of sukuks, real estate funds, commodity funds and pension funds, drawing on the audience's experience and views throughout.

The session heard from a number of high profile speakers, including Ziad Makkawi, Chief Executive Officer, Dubai Bank, Jamal Tartir, Group Head Private Banking, Shamil Bank, Dr. Martin Huber, Principal & Leader, Asset Management Practice, McKinsey & Company and Dr. Michael Wiegand, Middle-East Financial Institutions Practice McKinsey & Company.

At the end of the first day's proceedings, The World Islamic Funds Excellence Award will be presented during the Gala Reception & Award ceremony hosted by the event organisers MEGA (Middle East Global Advisors).

As a rapidly growing financial sector the Islamic Funds industry has quickly seen the need for strong branding and marketing to differentiate its offer and to explore this. Day two's proceedings will start with the session on "Managing the Branding & Marketing of Islamic Investment Funds in the Context of International Perceptions". The session will be delivered by Ziyad Arekat, General Manager, Asset Management Solidarity, Khaled Hassan Rashed, Vice President, Abraaj Capital Limited and Tarik Sansal, Managing Partner SEIF- Shariah Equity Investment Fund.

With real estate booming throughout the Gulf, and estimates of potential investment running into the many billions, the opportunity for Islamic funds in this sector is significant. Bahrain, for instance, has tenders or projects in the construction industry valued at more than BD 4 billion (US$ 10.7 billion).

Islamic funds in the real estate sector and other subjects such as Hedge Funds, Asset and Wealth management as well as investing in the oil, gas and mining industries will be discussed during the concluding PowerTable session tomorrow. The WIFC 2005 PowerTable is an interactive round table discussion group hosted by Deutsche Bank and led by Nizar Alshubaily, Global Head of Islamic Finance, Deutsche Bank.

In addition, speakers and panelists from Credit Suisse, Guidance Financial Group, Al Tawfeek Company for Investment Funds, Bahrain Islamic Bank, Ernst & Young, Custom House Group, INSEAD, Shariah Capital (USA), i.e. Muhanna & co., Injazat Technology Fund, Norton Rose, Meezan Bank, King Abdulaziz University and iFunds Review participated in the conference as did independent Shari'ah Advisors who answered questions posed by the audience on key Shari'ah compliance issues.

The grand finale of WIFC 2005, the conference luncheon hosted by Credit Suisse will provide an ideal atmosphere for dialogue and networking among participants before they depart.

The Strategic Partners & Associates of the conference include Strategic Partner McKinsey and Company; Platinum Strategic Partners Shamil Bank and Solidarity; Wealth Management Partner Credit Suisse; Gold Strategic Partner and PowerTable Host Deutsche Bank; Silver Strategic Partners Al Tawfeek Company for Investment Funds and Bahrain Islamic Bank; Silver Strategic Partner and Award Associates Ernst & Young; and Strategic Associate Norton Rose. The World Islamic Funds Exhibition, running alongside the conference will also showcase Windsor Brokers Ltd and Bahrain Institute of Banking & Finance along with the other partners and associates of the conference.

The conference has attracted media support from across the globe. The media partners for the event are Eurekahedge, Hedge Co.net, Hedge Fund Lounge, ABQ Zawya, Arab Banker, Arabies Trends, Khaleej Times, Middle East Monitor, Moneyworks, Saneou Al Hadath, Islamic Finance News, Finanza Araba, Islamic Banking & Finance Magazine, Middle East in London, Islamic Finance Information Service, iFunds Review and Alternative Fund Investment.