The 3rd Annual World Islamic Funds & Capital Markets Conference attracts more than 300 international attendees

BahrainÓ H.E. Rasheed M. Al Maraj, Governor of the Central Bank of Bahrain, inaugurated the 3rd Annual World Islamic Funds & Capital Markets Conference, at a ceremony at the Gulf International Convention Centre, Gulf Hotel in the Kingdom of Bahrain. The conference was attended by more than 300 international and regional market leaders from the global Islamic investments industry.

The Conference, held for the third year in Strategic Partnership with the Central Bank of Bahrain, has fully established itself as the pre-eminent platform for debate and discussion between regional and international fund managers, investors, asset managers, regulators, bankers, consultants and policy-makers on the latest market developments, growth and new product opportunities in the Investment Funds & Capital Markets landscape.

Following the Governor in the keynote plenary session were chairmen & CEOs of market-leading institutions. In this segment, Khalid Al Bassam, Chairman, Bahrain Islamic Bank, and Mustafa E. Al Salah, Managing Director & Chief Executive Officer, Adeem Investment addressed the outlook for further growth in the Islamic investments industry.

The first day discussions involved talks on the outlook for further growth in the Islamic investments industry and the development of an Effective Regulatory Environment for the successful advancement of Islamic Funds & Capital Markets, also highlighting regional and international perspectives on key regulatory developments and on whether Private Equity coupled with Shari’ah Compliance can lead to the Next Big Boom.

At the Gala Dinner, hosted by Bahrain Financial Services Development, The World Islamic Funds Excellence Award was presented to Maha K. Al-Ghunaim, Chairperson & Managing Director, Global Investment House for her outstanding leadership and role in the development of the funds industry in Kuwait. At the same event, CIMB Islamic was awarded the World Islamic Capital Markets Excellence Award for their role in the development of international Islamic capital markets in key areas such as leadership, product innovation and commercial success; and for their pioneering initiatives in the Sukuk market.

The second day’s conference proceedings began with the much anticipated Keynote session with the internationally acclaimed investment guru, Harry S. Dent Jr. on understanding and anticipating financial markets of today.

The conference encouraged the establishment of an effective interactive environment between the Shari'ah board and the business through more scholarship, study and standardization. It was also stressed that with the gaining momentum within the decade old industry due to growing public appetite for non-conventional investments, it’s value as a niche banking service should be maintained. The Islamic Banking market should not give in to investors demands who just want to "Shariahise" their products of a non-Islamic based nature.

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