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Islamic Finance Forum opens in Dubai today - UAE |
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3/20/2006 12:26:15 PM |
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The International Islamic Finance Forum (IIFF) opens today to discuss future direction of escalating multi-billion dollar Shari'ah-compliant finance sector
The forum is due to open at the Al Bustan Rotana Hotel, Dubai, said the event organisers, Institute for International Research (IIR).
The forum has attracted over 300 industry professionals who will be addressed by more than 70 experts over three days at pre and post conference workshops. Islamic finance, which was once considered as a parochial phenomenon, has emerged as a global force to be reckoned with.
"The figures are mind-blowing' said forum director, Christianna Tsiterou. 'Islamic banks have a combined market capitalisation of $13 billion, their assets currently stand at $265 billion with investments in excess of $400 billion. Deposits are currently estimated at over $202 billion with average growth between ten and twenty per cent. When you consider that there are only about 270 Islamic banks worldwide, their performance is exceptional."
Topics on the agenda include the evolution, development and challenges ahead to standardise the globalisation of Islamic finance. Of particular interest and key to the moral dimension of investing will be the parallels drawn between Islamic Finance and Socially Responsible Investing, a strong and growing force in Europe and the US, which aims to balance sustainable value to both society at large and the shareholders by investing in companies who meet their exacting standards of Corporate Social Responsibility.
The forum will also examine a wide range of Islamic Financial issues, such as Islamic bonds, the mortgage market, investment banking, wealth management and private banking, risk management, project financing and the fast developing Takaful funds. Other interesting facets to be debated will be Islamic accounting, Islamic Life assurance and bancassurance.
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