The Central Bank of Egypt to Host the IFSB Seminar on Supporting Development through Sukūk: Prospects and Initiatives on 10 April 2016

Kuala Lumpur, 10 March 2016 – The Islamic Financial Services Board (IFSB) is pleased to announce that it is organising an IFSB Seminar on Supporting Development through Sukūk: Prospects and Initiatives on 10 April 2016 in Cairo, Egypt. This Seminar will be held in conjunction with the IFSB Annual Meetings and Side Events 2016, which the Central Bank of Egypt is hosting.

This one-day seminar is designed to provide an interactive environment enabling speakers and participants to explore the prospective role of Sukūk in social and economic development. To this end, the Seminar will offer perspectives of Sukūk that will revolve around a number of key issues. Firstly, tax, legal and regulatory issues on the development of the Sukūk market will be considered as well as the lessons from recent experience. Secondly, the potential role of the Sukūk market in addressing the global infrastructure funding gap, both in the developed and developing world, whilst tapping into the ethical investor market. Thirdly, the manner by which governments can harness the Sukūk market to overcome their fiscal constraints and the ways the Sukūk market can help to trigger greater financial sector development and capabilities for risk management by both private and public sector entities. Finally, the Seminar will discuss the potential for synergy in the roles of policy-makers, regulators and market players in helping to deepen the Sukūk market.

More specifically, the topics of discussion in the Seminar are:

• Development of the Sukūk Sector: Legal and Regulatory Considerations
• Sukūk for Budgetary and Financial Sector Support: Structures and Country Examples, which includes a Special Presentation by the Islamic Development Bank
• Sukūk for Infrastructure Financing: Prospects and Case Studies
• Panel Discussion on Building Synergies for Sukūk Issuances

Chairpersons and speakers who have confirmed their participation in this Seminar are:

• Jaseem Ahmed, Secretary-General, IFSB
• Dr. Ahmed Al Gebali, Director, Islamic Financial Services Department, Islamic Development Bank
• Ashraf Mohamed, Assistant General Counsel, Asian Development Bank
• Zainal Izlan Zainal Abidin, Executive Director, Islamic Capital Market, Securities Commission Malaysia
• Neil Miller, Partner and Global Head of Islamic Finance, Linklaters LLP, United Arab Emirates
• Dr. Mohamed Damak, Director, Global Head of Islamic Finance, Standard & Poor’s Ratings Services, United Arab Emirates
• Professor Dr. Ashraf Md. Hashim, Senior Researcher / CEO ISRA Consultancy Sdn Bhd, The International Shari’ah Research Academy for Islamic Finance

On 11 April 2016, the IFSB will also be organising its 8^th Public Lecture on Financial Policy and Stability with Dr. Sami Al-Suwailem, Head, Financial Product Development Center, Islamic Development Bank to deliver the lecture. The IFSB Public Lecture series provides a platform for regulators and industry players to highlight pertinent issues facing the Islamic financial services industry.

The IFSB is inviting all its member organisations to participate in the Seminar and Public Lecture, which is also open to the industry stakeholders, academics and interested parties in Egypt and the MENA region. Participation is free of charge.

The list of events being organised during the IFSB Annual Meetings and Side Events 2016 are:

10 April 2016

• IFSB Seminar on Supporting Development through Sukūk: Prospects and Initiatives (Open to IFSB Members, Public and Media)

11 April 2016

• 8th IFSB Public Lecture on Financial Policy and Stability (Open to IFSB Members, Public and Media)
• IFSB Meet the Members Session and Industry Engagement Session (Open to IFSB Members, Industry Participants and Media)

12 April 2016

• 14th General Assembly (Closed Session, for IFSB Members only)
• 28th Council Meeting (Closed Session)
• 13th Islamic Financial Stability Forum (Closed Session)

For more information of these events and to register, please visit www.ifsb.org.