Press Briefing on World Islamic Finance Forum (WIFF) 2016

Press Briefing on World Islamic Finance Forum (WIFF) 2016

Karachi, September 01: A press briefing was held to highlight the uniqueness of the World Islamic Finance Forum (WIFF) 2016, an international Islamic conference organized by Centre for Excellence in Islamic Finance (CEIF), IBA. Senator Mohammad Ishaq Dar, Minister of Finance would be the Chief Guest at WIFF 2016, a unique conference which will bring together researchers, academicians and practitioners for generating innovative ideas to stimulate Islamic Finance growth, while overcoming present day industry challenges. The two-day conference would be held at Movenpick Hotel, Karachi on 5th and 6th September 2016.

Mr. Ahmed Ali Siddiqui, Director CEIF informed the media that prominent Shari'ah scholars, renowned academicians, State Bank of Pakistan (SBP), Securities Exchange Commission of Pakistan (SECP), Islamic Research and Training Institute (IRTI), Thomson Reuters, World Bank, Islamic Corporation for the Development of the Private Sector (ICD), International Islamic Financial Market (IIFM), Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Ernst & Young, Deloitte & Touche in addition to key local and global Islamic financial institutions are participating in this mega event.

Mr. Ahmed Ali Siddiqui also said that Governor State Bank of Pakistan Ashraf Mahmood Wathra, Chairman, Securities Exchange Commission of Pakistan (SECP) Zafar Hijazi, Dr. Ishrat Husain, Chairman, CEIF- IBA, Shaikh Muhammad Taqi Usmani, Shariah Board Chairman, Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI); Chairman Shariah Board, Meezan Bank and Deputy President, Dar ul Uloom, Karachi, Pakistan, Presidents of Islamic banks and many eminent Islamic finance personalities from national and international institutions are also participating in this International Conference. Moreover, Dr. Farrukh Iqbal - Dean and Director IBA, Mr. Irfan Siddiqui - President Meezan Bank and Mr. Junaid Ahmed – President Dubai Islamic Pakistan were also present on the occasion.

Overall 13 global and 15 local institutions would be represented in the panel discussions throughout the two-day conference at IBA. Islamic finance leaders from Malaysia, Kingdom of Saudi Arabia, Bahrain, Turkey, USA and China are participating in WIFF 2016.

Press Briefing on World Islamic Finance Forum (WIFF) 2016

Dr. Farrukh Iqbal, Dean and Director IBA said that research papers and case studies presentation at WIFF 2016 would be focused on areas crucial for the development of Islamic Finance industry. Around 50 speakers representing regulatory bodies, Islamic finance infrastructure institutions, Islamic banks/windows, asset management companies, advisory firms and Takaful players will be part of the event.

Dr. Farrukh also informed that research papers / case studies will be appraised by a renowned committee of practitioners and Shariah scholars. The 1st position has a hefty reward of $5000, whereas the 2nd & 3rd positions would be awarded $3000 & $2000 respectively. Furthermore, 3 consolation prizes of US$ 500 each will also be rewarded in the Conference.

President Meezan Bank Limited, Mr. Irfan Siddiqui said that WIFF 2016 is a one of its kind, academic cum industry conference. The event will bring together all stakeholders to develop the roadmap for the future taking into consideration macroeconomic goals, business needs, social objectives, capacity building requirements, standardization issues, legal and Shari'ah implications. Additionally, WIFF 2016 will highlight the achievements of Islamic finance industry in Pakistan.

President DIB Pakistan, Mr. Junaid Ahmed appreciated the role of IBA CEIF in bridging the gap between the industry and academia. He commended the efforts of the team in organizing world class training programs to hone the skills of Islamic finance practitioners.

Other distinguished speakers at WIFF 2016 will include Prof. Dr. Abbas Mirakhor, First Holder, INCEIF Chair of Islamic Finance (Malaysia), Dr. Azmi Omar, Director General, IRTI (KSA), Mustafa Adil, Head of Islamic Finance, Thomson Reuters, Dr. Muhammad Imran Ashraf Usmani, Group Head Product Development & Shariah Compliance and Resident Shariah Board Member, Meezan Bank, Mr. Zubair Haider Shaikh, Head of Corporate and Investment Banking, & Cash Management, Dubai Islamic Bank Pakistan, Mr. Ijlal Alvi, Chief Executive Officer, International Institute of Financial Markets (Bahrain), Mr. Hasan A. Bilgrami, President & CEO, BankIslami Pakistan, Mr. Mohammad Shoaib, CEO, Al Meezan Investment Management Limited, Dr. Zamir Iqbal World Bank Islamic Finance Development Centre (Turkey), Dr. Dawood Ashraf, Senior Researcher (Islamic Finance), IRTI, (KSA), Mr. Najmul Hassan, Director FIDD, ICD (KSA), Mr. Mohamed Rafe Mohamed Haneef, CEO,CIMB Islamic Bank (Malaysia), Mr. Ashar Nazim – Partner Global Islamic Banking Center, Ernst & Young (Bahrain), Dr. Hatim El Tahir, Director Islamic Finance Group, Islamic Finance Knowledge Center Leader, Deloitte & Touche (Bahrain), Prof. Dr. Ahmed Musa Wang Yongbao (China) and Dr. M. Kabir Hassan (USA).