The IFSB Announces the Speakers for its 11th Annual Global Summit

Kuala Lumpur, 17 April 2014 – The 11th IFSB Summit will see a distinguished line-up of the key global players and thought leaders, from among the regulators and market players of the Islamic financial services industry, taking the stage to discuss the theme “New Markets and Frontiers for Islamic Finance: Innovation and the Regulatory Perimeter”.

Led by the Summit Host, H.E. Rhundeersing Bheenick, Governor of Bank of Mauritius, the speakers who have confirmed their participation in the 11th Summit include:

1. H.E. Dr. Muliaman Hadad, Chairman, Financial Services Authority, Indonesia
2. H.E. Dr. Zeti Akhtar Aziz, Governor, Bank Negara Malaysia
3. H.E. Rundheersing Bheenick, Governor, Bank of Mauritius and Host, 11th IFSB Summit
4. H.E. Abdelrahman Hassan Abdelrahman Hashim, Governor, Central Bank of Sudan
5. H.E. Sultan Bin Nasser Al Suwaidi, Governor, Central Bank of the United Arab Emirates
6. Dr. Ibrahim Turhan, Chairman and Chief Executive Officer, Borsa Istanbul, Turkey
7. Jaseem Ahmed, Secretary-General, Islamic Financial Services Board
8. H.E. Dr. Abdul Aziz Al Hinai, Vice President, Islamic Development Bank
9. H.E. Mamadou Diop, Deputy Governor, Banque Centrale Des Etats de L’afrique de L’ouest (Central Bank of the West African States)
10. H.E. Dr. Kingsley Moghalu, Deputy Governor, Central Bank of Nigeria
11. Khalid Mohammed Al-Aboodi, Chief Executive Officer & General Manager, Islamic Corporation for the Development of the Private Sector (ICD)
12. Dr. Abdel-Rahman Eltayeb Ali Taha, Chief Executive Officer, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC)
13. Ian Johnston, Chief Executive, Dubai Financial Services Authority, UAE
14. Dr. Nik Ramlah Mahmood, Deputy Chief Executive, Securities Commission Malaysia
15. Alfred Kammer, Deputy Director, Middle East and Central Asia Department, International Monetary Fund
16. Michael Bennett, Head of Derivatives and Structured Finance, Capital Markets Department, The World Bank
17. Mehmet Sıddık Yurtçiçek, Head of Legal Affairs Department, Banking Regulation and Supervision Agency, Turkey
18. Ritesh Maheshwari, Managing Director & Lead Analytical Manager Financial Services Ratings, Standard & Poor’s, Singapore
19. Daud Vicary Abdullah, President and Chief Executive Officer, INCEIF, Malaysia
20. Prasad Abraham, Chief Executive Officer, Al Hilal Islamic Bank JSC, Kazakhstan
21. Hassan Varvani, Chairman, First Community Bank Limited, Kenya
22. Professor Habib Ahmed, PhD, Sharjah Chair in Islamic Law & Finance, Durham University Business School, UK

Chairman and Chief Executive Officer of Borsa Istanbul, Turkey, Dr. Ibrahim Turhan will deliver the Gala Dinner Keynote Speech.

This Summit will be the first IFSB Summit to be held in the African continent, and its theme aims to reflect the rapid growth of Islamic finance during the last decade which has been accompanied by its geographical expansion as well as by the establishment of guidelines and principles for its prudential regulation and supervision through the issuance of IFSB standards. The geographical expansion of Islamic finance into new markets has underscored the opportunities as well as challenges faced in new jurisdictions that seek to take advantage of an alternative source of development financing to drive inclusive growth.

In emerging markets in Africa and Asia, the approaching deadline for attaining the Millenium Development Goals (MDGs) in 2015, and the difficult prospects for financing economic development post-2015 have spurred the search for additional sources of financing and raised interest in Islamic finance amongst both policy makers and multilateral development banks. Amongst developed economies, there is greater recognition of Islamic finance as offering prospects for raising investment funds by accessing the deepening global pools of Sharī`ah-compliant savings. Against this backdrop, the Summit will provide an overview of global financial and regulatory developments from the perspective of Islamic finance. It will also explore some recent innovations that are driving inclusive growth while examining different policy and regulatory approaches to manage attendant risks.

The session topics which reflect the importance of the Summit theme include:

• Global Overview of the Islamic Financial Services Industry (IFSI): Outlook and Policy Developments
• Legal and Regulatory Environment of Islamic Finance
• Sukūk, Market Development and Regulation
• The Role of Islamic Finance in Economic Development: Promoting Financial Inclusion, Sustaining Innovation, Expanding the Regulatory Perimeter – Striking a Balance
• Panel Discussion on “New and Emerging Islamic Finance Jurisdictions: Opportunities and Challenges Ahead”

The main proceedings will be preceded by five pre-Summit events which will be held on 19 and 20 May 2014 at the Le Meridien Ile Maurice. The events include:-

• IFSB Meet the Members and Interactive Session
• IFSB – IRTI Session on Mid-term Review of the “Islamic Financial Services Industry Development : Ten – Year Framework and Strategies”
• Industry Development Session by Asian Development Bank
• Industry Development Session by Finance Accreditation Agency, Malaysia
• Business Forum by Malaysia International Islamic Financial Centre (MIFC)
• Knowledge Sharing Partner Session by INCEIF

More information on participation and registration of the 11th IFSB Summit is available at its official website: http://www.ifsbmauritius2014.com.