The Islamic Financial Services Board (IFSB) will be organising its 2nd Summit which will take place on 24 – 25 May 2005 at Sheraton Doha Hotel and Resort, Doha, Qatar. The Summit is being held under the patronage of His Highness Sheikh Hamad Bin Khalifa Al-Thani, the Emir of Qatar, and is hosted by Qatar Central Bank.
Professor Rifaat Ahmed Abdel Karim, the Secretary-General of the IFSB has remarked that “The IFSB Summit which was held in London last year has attracted a number of high profile delegates, including HRH Prince of Wales, and it has created a high benchmark for the industry’s events. We are very enthusiastic to repeat the success story this year”.
“As the IFSB is currently preparing a standard on corporate governance, we believe that the Summit theme, ‘The Rise & Effectiveness of Corporate Governance in the Islamic Financial Services Industry’, is very timely and reflects the IFSB commitment in promoting good corporate governance in the industry”, said Professor Rifaat.
“The great interest being generated by the theme of the Summit is highlighted by the distinguished chairpersons and speakers who have already confirmed their participation. This reflects their commitment to enhance awareness of effective mechanisms and measures of corporate governance in the industry”.
Confirmed Chairpersons & Speakers thus far:
- Burhanuddin Abdullah, Governor, Bank Indonesia
- Sheikh Salem Abdul Aziz Al-Sabah, Governor, Central Bank of Kuwait
- Dr. Zeti Akhtar Aziz, Governor, Bank Negara Malaysia
- Dr. Ishrat Husain, Governor, Governor, State Bank of Pakistan
- Abdulla Khalid Al-Attiya, Governor, Qatar Central Bank
- Hamad Al-Sayari, Governor, Saudi Arabian Monetary Agency
- Jaime Caruana, Governor, Central Bank of Spain & Chairman of the Basel Committee on Banking Supervision
- Dr. Sabir Mohamed Hassan, Governor, Bank of Sudan
- Sultan Bin Nasser Al Suwaidi, Governor, Central Bank of United Arab Emirates
- Malcolm D Knight, General Manager, Bank for International Settlements
- Sheikh Saleh A. Kamel, Chairman, General Council For Islamic Banks & Financial Institutions (GCIBFI)
- Professor Rifaat Ahmed Abdel Karim, Secretary-General, Islamic Financial Services Board
- Zarinah Anwar, Deputy Chief Executive, Securities Commission, Malaysia
- Mohd Razif Abdul Kadir, Assistant Governor, Bank Negara Malaysia
- Rainer Geiger, Deputy Director, Directorate for Financial, Fiscal and Enterprise Affairs, OECD
- Charles Enoch, Assistant Director and Chief of the Banking Supervision and Regulation Division, Monetary and Exchange Affairs Department, IMF
- Ghiath Shabsigh, TA Area Chief for Middle East and Central Asia, Monetary and Financial Systems Department, IMF
- Professor Simon Archer, Professor, University of Surrey, UK
- Professor Jonathan Charkham, Sir John Cass Business School, City University, UK
- Toby Fiennes, Banking Supervision Manager, International Firms Department, Deposit Takers Division, Financial Services Authority, UK
- Mohamad Toufic Kanafani, Chief Executive Officer, Noriba Bank
- Iqbal Khan, Chief Executive Officer, HSBC Amanah Finance, UAE
- Dr. Chizu Nakajima, Director, Centre for Financial Regulation and Crime, Sir John Cass Business School, City University, UK
- Dr. Nasser Saidi, Chairman, Lebanon Corporate Governance Task Force and Former Deputy Governor of the Central Bank of Lebanon
- Madhukar Shenoy, Director, PricewaterhouseCoopers, Bahrain
- Anne Simpson, Executive Director, International Corporate Governance Network, UK
- Michael Silva, Counsel & Vice President, Federal Reserve Bank of New York, USA
- Farouk Soussa, Director-Middle East & Africa, Standard & Poor’s Sovereign Ratings, UK
- Georges Ugeux, Chairman & Chief Executive Officer, Galileo Global Advisors, LLC and Former Group Executive Vice President, New York Stock Exchange, USA
- David Vicary, Director-Financial Services, Deloitte Consulting Malaysia Sdn. Bhd.
The Summit will address the following topics:
- The Identification, Status and rights of Stakeholders in Institutions offering Islamic Financial Services (IIFS): Corporate Governance Implications
- The Roles and Responsibilities of the IIFS’s Shareholders and Board of Directors in Effective Corporate Governance
- The Role of Non-executive Directors on the Boards of IIFS
- Corporate Governance and Money-laundering
- Corporate Governance, Transparency and Market Discipline
- Lessons from International Corporate Governance Standards: The Ethical Perspective in Corporate Governance
- Conventional Banks Offering Shari’a Compliant Financial Services: Corporate Governance Issues
- Challenges Ahead
More information on the Summit is available on the Summit website at http://www.ifsbqatar.com.
Summit Secretariat:
Ms. Nor Sadnawaty Saifuddin ([email protected]) / Mr. Mohd Zaid Othman ([email protected]), Islamic Financial Services Board, 3rd Floor, Block A, Bank Negara Malaysia Building, Jalan Dato’ Onn, 50480 Kuala Lumpur, Malaysia. Tel: +603 2698 4248 ext 116 / 119 Fax: +603 2698 4280
*Note to Editors
The IFSB was officially inaugurated on 3 November 2002. Its establishment was the culmination of an extensive two-year consultative process initiated by a group of governors and senior officials of central banks and monetary authorities of various countries, together with the support of the Islamic Development Bank, the International Monetary Fund, and the Accounting and Auditing Organization for Islamic Financial Institutions.
The IFSB serves as an international standard setting body of regulatory and supervisory agencies that have vested interest in ensuring the soundness and stability of the Islamic financial services industry, which is defined broadly to include banking, capital market and insurance. In advancing this mission, the IFSB will promote the development of a prudent and transparent Islamic financial services industry through introducing new, or adapting existing international standards consistent with Islamic Shari’a principles, and recommend them for adoption.
