Download agenda (pdf).
The World Bank, in partnership with Capital Markets Board of Turkey, and Albaraka Banking Group organized a conference entitled, The Role of Sukuk in Development. The conference brought together policy-makers, standard-setters, market practitioners, and international organizations to discuss how best to unlock the potential of sukuk markets in support of growth and development.
In recent years, the Islamic finance industry has grown rapidly, at more than 15% per annum. Despite its remarkable growth, Islamic finance is still largely concentrated in the banking business. In many countries with a significant Islamic finance industry, markets for Islamic bonds (Sukuk) are still relatively small and underdeveloped. Well-developed Sukuk markets would create alternative investment instruments for the Muslim populations and help enhance access to financial services while deepening the capital markets.
During this one day conference, leading experts from the International Monetary Fund (IMF), the World Bank Group (WBG), the Islamic Financial Standards Board (IFSB), the International Islamic Financial Market (IIFM), government agencies as well as the financial institutions pioneering in Sukuk issuances shared their experience and exchanged their views with the participants.
Panels addressed the following key questions:
- What are the potential benefits of Sukuk markets?
- How can these markets contribute to growth and development in countries with Muslim population?
- What are the main policy,regulatory, and institutional requirements for the development of Sukuk markets?
- What needs to be done to unlock the potential of the market?
- What are the practical issues relating to the structuring of Sukuk issues?