Islamic Financial Intelligence Summit 2013
 
AGENDA: 11th November 2013
Printable agenda 
08:15 - 09:00Registration and Refreshments

09:00 - 09:10Opening remarks from the conference chairman
Brian Caplen, Editor, The Banker

09:10 - 09:45KEYNOTE ADDRESS: Where next for Islamic Finance?
The global Islamic finance industry continues to grow, by number of institutions, assets and customers. But what does the future hold? Issues to be covered in this keynote address include:
  • Global, regional and national trends in demand for, and supply of, Islamic finance.
  • Drivers of growth: more people are beginning to prefer Islamic finance over conventional finance; growing Muslim populations and an increase in the numbers of Muslim middle classes with savings and investment needs; rising demand from small and medium-sized businesses and large corporations; government assistance through promotional activities and new laws and regulations.
  • Inhibitors of growth: high levels of financial exclusion in many Muslim communities; inadequate product development; the difficulties faced by Islamic financial institutions in managing short-term liquidity.
  • Looking ahead: the future of Islamic finance
HRH Raja Dr Nazrin Shah, The Regent of the State of Perak Darul Ridzuan, Malaysia and Financial Ambassador for MIFC

09:45 - 10:30PRESENTATION: The Banker's 'Top Islamic Financial Institutions 2013'
We summarise the findings of The Banker’s “Top Islamic Financial Institutions 2013”, to be published in November. The 2012 survey showed that total assets of sharia-compliant institutions increased to $1,166 billion, from $984 billion in 2011, the sixth consecutive year of growth. What will the 2013 survey reveal? 
  • The facts: the latest statistics on assets, numbers of Islamic financial institutions, profitability, capital adequacy.
  • The main issues: current demand for products such as murabaha, mudaraba, sukuk, and takaful; government support for Islamic finance; fully sharia-compliant institutions versus “Islamic windows” in conventional institutions; international harmonisation of sharia principles; finding the right staff; the sustainability of future growth.
  • Longer term trends. This will be the 8th year of the survey. What longer term patterns have been detected?
Brian Caplen, Editor, The Banker
Joseph DiVanna, Co-Author of “Top Islamic Financial Institutions”, and MD, Maris Strategies

10:30 - 11:00Networking refreshments break
11:00 - 11:30PRESENTATION: Finance for industry
SMEs and large corporations are increasingly seeking out Islamic finance solutions to meet their real estate, equipment, M&A, trade and other commercial needs. Clients range from small family businesses to multinational corporations. This presentation explores the needs of various industry sectors, including:
  • Oil and gas.
  • Transportation, including aviation and shipping.
  • Commercial and residential property, 
  • Energy
  • Pharmaceuticals.
Badlisyah Abdul Ghani,Chief Executive Officer, CIMB Islamic

11:30 - 12:00ON STAGE INTERVIEW: How do you create a truly customer-centric islamic financial institution?
Customer centricity should be at the heart of any commercial strategy, and that is as true for Islamic banking as for any other type of banking. Fundamental questions to be answered in this live interview are:
  • Customer service in Islamic financial institutions frequently compares badly with that in conventional financial service providers, especially for the mass market – why is this so, and how can it be rectified?
  • What are your three top tips for creating and maintaining a customer-centric organisation?
  • To what extent can products and services be tailored to facilitate Muslim lifestyles and life stages?
  • How do you integrate multiple delivery channels to provide the best possible customer experience?
  • How important is technology in providing what customers want?
  • What is the secret of attracting and training customer-focused staff? 
Interviewer 
Brian Caplen, Editor, The Banker 

Afaq Khan, Chief Executive Officer, Standard Chartered Saadiq

12:00 - 12:45PANEL SESSION: The challenges of achieving sharia compliance
The first challenge is agreeing on a definition of “sharia-compliant”, as the principles governing Islamic finance vary widely, from scholar to scholar, country to country, institution to institution, and customer to customer. The second challenge is complying with whatever principles have been agreed. The important questions are therefore:
  • How much difference of opinion is there on the sharia-principles that underpin Islamic finance, what are the cultural and historical origins of those differences, and where does the common ground lie?
  • Islamic finance boards, governments, central banks and others are trying to agree on common international definitions of sharia principles and a global certification board – what are the chances of these harmonisation efforts succeeding.
  • What are the typical compliance problems that face Islamic banks and other financial institutions when creating and marketing their products, and how do they overcome them?
  • How difficult is it to find experienced scholars and trained compliance staff?
  • Sharia compliance adds an additional layer of regulatory complexity and cost for Islamic financial institutions which often makes their products more expensive than their conventional counterparts. So how do you control those costs with more streamlined processes and specialised software tools?

Panel moderator:
Brian Caplen, Editor, The Banker

Panellists:
Associate Professor Dr Mohamad Akram Laldin, Executive Director, International Sharia Research Academy for Islamic Finance (ISRA)
RIchard Thomas, Head of Malaysia Representative Office, Gatehouse Bank 
Ahmad HIzzad Baharuddin, Director General, Labuan Financial Services Authority

12:45 - 14:00Lunch
14:00 - 14:40PANEL SESSION: Profits v ethics
Exploring the “faith premium” and the price competitiveness of retail Islamic banking products compared to conventional offerings.
  • What price are people prepared to pay for an ethical product?
  • Islamic finance is more expensive than conventional finance – myth or reality?
  • How do banks strike the right balance in their pricing?
Panel moderator:
Joseph DiVanna, Co-Author of “Top Islamic Financial Institutions” and MD, Maris Strategies

Panellists:
Datin Maznah Mahbob, CEO,  Aminvest
Dato’ Wan Ismail Wan Yusoh, General Manager/Head of Strategic Relations, Bank Islam
Ahmed Zulficar, Deputy Chief Executive Officer, Ahli United Bank Kuwait

14:40 - 15:20PANEL SESSION: Searching for new pastures - what are the next big opportunities for Islamic finance?
Between 2006 and 2012, total assets of sharia-compliant institutions increased at a CAGR of 19%, according to The Banker’s “Top Islamic Financial Institutions” report. Executives in these institutions will have to find vast new sources of revenue if the momentum is to be maintained or accelerated, so:
  • Can the current high rate of growth continue?
  • Looking ahead, which customer segments are likely to prove the most fruitful – the currently unbanked, HNWIs, the ultra-wealthy, SMEs, large corporate and institutional, the public sector? 
  • Will Islamic finance become an attractive proposition for non-Muslims?
  • Could forming alliances with Islamic finance providers in other countries be a path to growth?
Panel moderator:

Brian Caplen, Editor,The Banker
Arshad Ismail, Executive Vice President & Head of Business Development, Maybank Islamic

Syed Alwi, Head of Islamic Finance, Asia Pacific, BNP Paribas Malaysia

15:20 - 15:30Five key trends for the future
Joseph DiVanna, Co--‐Author of “Top Islamic Financial Institutions”, and MD, Maris Strategies

15:30Conference Chairman's closing remarks
15:40Networking reception