Insights from Our Speakers
"The advantages that Islamic finance can provide to key economies has captured the attention of the World Bank, especially with regards to the resilience demonstrated by Islamic financial institutions and Islamic finance’s strong linkages to the real economy. The World Bank has taken several practical steps to support the development of Islamic finance, including involvement in some of our projects such as the US$500 million Sukuk to finance health projects. The Islamic finance industry needs an enabling environment and economies of scale and the Islamic Banking & Investment: Asia/Middle East Congress presents the kind of international platform where key decision-makers and leading players can engage and play a role in advancing the industry further. With its emphasis on inclusion and its link to the real economy, Islamic finance can and must play a role in advancing the 2030 Agenda for sustainable development and the attainment of the SDGs."
"There are more than 600 Islamic financial institutions operating in more than 75 countries, offering a wide range of products and services. In the last decade the growth has been well documented, with total global Islamic banking assets growing at a compound annual growth rate of more than 40% globally. The Kingdom of Saudi Arabia continues to dominate the share of the global Islamic banking market at 33% and is the highest contributor to total global Islamic banking assets, followed by Malaysia at 15.5% and the UAE at 15.4%. The size of Islamic banking assets is estimated at US$1.35 trillion globally. This represents approximately 1.3% of total global banking assets. Islamic banking growth is forecasted to move full steam ahead with its assets set to grow further to US$2.6 trillion by 2020 – a compound annual growth rate of 9.8% annually. The outlook continues to appear very bright for the industry."
"A more complimentary business propositions such as the move towards investment intermediation and robust risk management in terms of Shariah governance and regulations will be crucial in sustaining and growing the Islamic banking industry."
"The global Islamic finance industry offers a value proposition that applies to both Muslims and non-Muslims alike, which is a key component that will increasingly broaden the consumer base for Islamic financial institutions. Islamic banking services in core markets such as Malaysia and Indonesia, where the Muslim population is comparatively high, is increasingly being seen as a preferred choice. In key new markets for Islamic banking, such as in the UK and across Central Asia and the African continent, the central bank and regulatory bodies have been making significant progress to establish the essential infrastructure for Islamic banking to function. Industry forums such as the Islamic Banking & Investment: Asia/Middle East Congress 2016 provide an opportunity for industry leaders to strengthen collaboration on an international scale, explore new innovations in the industry, and showcase the value proposition of Islamic banking to companies and entrepreneurs as an alternative means of funding."
"The role of standard-setting bodies, such as the IIFM, is key in the ongoing successful international development of the Islamic financial services industry. IIFM plays an enabling role in market unification by developing best practices at the global level and achieving harmonization through its efforts to create a robust, transparent and efficient Islamic finance industry. The Islamic Banking & Investment: Asia/Middle East Congress 2016 presents a high-profile platform for IIFM to communicate new developments and we look forward providing briefing on technical aspects of Islamic hedging and liquidity management standards to the industry leaders from across Asia and the Middle East."