World Islamic Capital Conference from November 7

 

KARACHI (October 23 2007): Pakistan will host the third World Asia Islamic Capital conference to be held in Karachi from November 7 to 8. An announcement here on Monday said the moot would be the country's largest international financial conference where delegates from more than 150 financial institutions across the globe were participating.

It said the third WorldAsia Islamic Capital conference aimed at to bring together the policymakers, bankers, corporates, Sharia scholars and professionals from the local and regional markets to discuss the current positioning of the Islamic capital industry and challenges for future growth.

The conference is being organised by WorldAsia group, a subsidiary of Islamic Capital Partners, a leading specialist venture development and private equity advisor firm.

LEADING INTERNATIONAL FINANCIAL INSTITUTIONS LIKE: Dubai International Financial Centre, UAE, Al Jomaih Group of Saudi Arabia, Qatar Islamic Bank, Al Salam Bank Bahrain, Jefferies International Bank, UAE and local financial institutions like, State Bank of Pakistan, National Commission for Government Reforms, Karachi Stock Exchange, Meezan Bank Ltd, Emirates Global Islamic Bank, Bankislami Pakistan, Dawood Group, National Bank of Pakistan and Habib Bank Ltd.

The statement further said that SBP Governor Dr Shamshad Akhtar in her remarks on the occasion of announcing the third WorldAsia Islamic Capital Conference "Delivering on Market Expectations" said although our Islamic banking industry was still in its infancy, the level of activity and the interest being taken in this industry by people belonging to all walks of life was fascinating.

She said that through such conferences the private sector was already contributing to the development of the Islamic banking industry in Pakistan.

She said the expansion of existing banks within Pakistan and world-wide was a reflection of its potential growth, which was not a temporary phenomenon, adding that Islamic banks were here to stay and there were signs that they would continue to flourish.

State Bank of Pakistan encouraged Islamic banking in Pakistan through a well thought out policy framework and would provide all the necessary assistance in building of a strong and dynamic Islamic banking industry, she added.

She said the involvement of foreign investors in Pakistani Islamic banking institutions gave this industry a unique look, through which successful transfer of approaches and modalities was taking place.

WorldAsia Islamic Capital Partners Chief Executive Officer (CEO) Tariq Ali said the objective of this conference was to provide an opportunity to understand the global picture of Islamic finance and how it influenced the growth of Islamic banking, Takaful and capital markets in Pakistan.

He said that participants would learn about the major strides that had been made in 2006-07 in Islamic finance and banking industry as well as examine new ideas, challenges and opportunities from a practitioner's perspective.

He said the banking and finance industry had reached the point of inflection where we saw the emergence of a new generation of institutions and personalities who would provide leadership for Islamic financial institutes.

He said that continuing with the series of influential knowledge sharing and networking events, the WorldAsia Islamic Capital Conference, now in its third year, would analyse as to how well were Islamic banks meeting the expectations of their customers.-PR

 
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