Events

The 11th Islamic Financial Services Board Summit 2014 was held at the Le Meridien Ile Maurice, Mauritius and Bank of Mauritius was privileged to host the 11th Summit.  With the theme of this year’s Summit “New Markets and Frontiers for Islamic Finance: Innovation and the Regulatory Perimeter ”, this 11th Summit was the first IFSB Summit to be held in African continent, aimed 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 provided 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. Dr. The Honorable Navinchandra Ramgoolam, Prime Minister of the Republic of Mauritius delivered the Keynote Address at the Opening Session of the 11th Summit and launched the Islamic Financial Services Industry Stability Report 2014. 22 chairmen and speakers who were governors, deputy governor, heads as well as senior financial sector supervisors and experts from international financial institutions participated as speakers who panelled the following sessions:  Legal and Regulatory Environment of Islamic Finance  Global Overview of the Islamic Financial Services Industry (IFSI): Outlook and Policy Developments   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 New and Emerging Islamic Finance Jurisdictions: Opportunities and Challenges Ahead In conjunction with the 11th IFSB Summit was the Summit Gala Dinner which was held on 21 May 2014. Dr. Ibrahim Turhan, Chairman and Chief Executive Officer of the Borsa Istanbul was invited to give the Keynote Address at the Dinner. The 11th IFSB  Summit was attended by more than 150 delegates from 27 countries comprising of senior officials from supervisory and regulatory bodies as well as representatives from international institutions, market players, accreditation, insurance and takaful, academia as well as other stakeholders of the Islamic financial services industry. Event Snapshots Programme - Event Session(s) Date Time Topics Day 1 19/05/2014 PRE-SUMMIT EVENTS - DAY 1 08:30 - 10:30 IFSB Meet the Members and Interactive Session (IFSB Members Only) 10:45 - 13:15 IFSB – IRTI Session on Mid-term Review of the “Islamic Financial Services Industry Development : Ten-Year Framework and Strategies” 14:30 - 16:00 Industry Development Session by Finance Accreditation Agency 16:00 - 17:30 Industry Development Session by The World Bank Day 2 20/05/2014 PRE-SUMMIT EVENTS DAY 2 09:00 - 11:30 Industry Development Session by Asian Development Bank 11:00 - 13:30 Business Forum by Malaysia International Islamic Finance Centre (MIFC) 14:30 - 16:30 Knowledge Sharing Partner Session by INCEIF 19:00 - 22:00 Summit Welcome Reception (Hosted by Bank of Mauritius) For Summit Registered Participants Only Day 3 21/05/2014 11TH ISLAMIC FINANCIAL SERVICES BOARD SUMMIT - DAY 1 08:30 - 09:30 Registration 09:30 - 10:30 Opening & Keynote Session 10:30 - 11:00 Coffee Break 11:00 - 12:30 Session 1: Legal and Regulatory Environment of Islamic Finance The session aims to highlight the importance of having in place effective legal and regulatory frameworks for Islamic finance to ensure a well-functioning IFSI in the Islamic finance jurisdictions. 12:30 - 14:00 Lunch 14:00 - 15:30 Session 2: Global Overview of the Islamic Financial Services Industry (IFSI): Outlook and Policy Developments This session aims to analyse the current level of development of the IFSI vis-à-vis conventional finance and focus on the potential growth of the industry. 15:30 - 16:00 Coffee Break 16:00 - 17:30 Session 3: Sukūk, Market Development and Regulation The session aims to highlight the development and initiatives undertaken in the IFSI and the role of Islamic finance in supporting long-term growth strategies and infrastructure needs. 19:00 - 21:30 11th IFSB Summit - Gala Dinner Day 4 22/05/2014 11TH ISLAMIC FINANCIAL SERVICES BOARD SUMMIT - DAY 2 09:30 - 11:00 Session 4: The Role of Islamic Finance in Economic Development: Promoting Financial Inclusion, Sustaining Innovation, Expanding the Regulatory Perimeter – Striking a Balance This session aims to review the role of Islamic finance in promoting economic development, and identify gaps, challenges and prospects in increasing access to Islamic finance in the Islamic finance jurisdictions. 11:00 - 11:30 Coffee Break 11:30 - 13:00 Session 5: Panel Discussion on “New and Emerging Islamic Finance Jurisdictions: Opportunities and Challenges Ahead” This session aims to explore the opportunities offered by the new and emerging Islamic finance jurisdictions as well as the corresponding challenges, and key success factors for the jurisdictions to grow and develop the industry moving forward. 13:00 - 14:00 Lunch End of Summit Downloadable Document(s) 1.) Event Session(s) - PDF Format 2.) 11th Summit Brochure 3.) 11th Summit Programme 4.) Hotel Online Reservation for Le Meridien Ile Maurice and Westin Hotels 5.) Hotel Reservation Form - Casuarina Resort & Spa 6.) Hotel Reservation Form - Le Victoria Hotel 7.) Hotel Reservation Form - The Intercontinental Hotel 8.) Hotel Reservation Form - The Maritim Hotel 9.) Hotel Reservation Form - Trou Aux Biches