LONDON — Michael Gassner Consultancy Ltd has organised the third annual Islamic Wealth Management event in Geneva at the Hotel du Rhone on April 24-25, 2007. The event has grown year-by-year and offers insights into the Islamic Private Banking industry, its differences and commonalities with the conventional industry.
The Silver Sponsor, Sanad Sukuk Fund, is the world's first GCC-oriented, diversified Sukuk fund. Sukuk which are also known as Islamic bonds have, until now, been difficult to purchase for the vast majority of Muslims leaving them unable to enjoy the benefits of bond-like investments. Previously, Muslims were able to buy only deposit equivalents, stocks, real estate and private equity assets that met Shariah standards.
A major gap has existed in the investment universe of Muslim savings, a gap that finally was closed with the launch of the Sanad Sukuk Fund.
Mark Mortimore, Executive Director of the Sanad Sukuk Fund and a member of the fund's Board of Directors, commented: "Now we offer Islamic investors a reliable, Sharia-compliant alternative to a conventional bond fund, and provide them with both the returns and liquidity that western investors have enjoyed for decades. Since bonds make up almost 45 per cent of worldwide managed assets, this indeed is a historic step for Islamic Wealth Management."
The entire programme of the third Islamic Wealth Management Event comprises challenging lectures on traditional and alternative asset classes, on specifics of Islamic financial planning, market strategy and last, but not least, philanthropy and carbon allowances as new asset opportunity.