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Events
Conference on the Role of Sukuk in Development
May 18, 2012Istanbul, Turkey

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.

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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?

GLOBAL SUKUK MARKET: CURRENT STATUS AND GROWTH POTENTIAL

Mr. Rafe Haneef, CEO HSBC Amanah Malaysia Behd and Global Co-head of Islamic Finance of Global Markets Asia Pacific

THE POTENTIAL ROLE OF SUKUK MARKETS IN ECONOMIC DEVELOPMENT
Prof. Dr. Ekrem  Pakdemirli – Board Member, Al Baraka Turk

 

PANEL I: DEVELOPMENT OF SUKUK MARKETS: LEGAL, POLICY AND REGULATORY ISSUES

ROLE OF SUKUK IN DEVELOPMENT: PRUDENTIAL AND REGULATORY ASPECTS
Mr. Abdelilah Belatik, Assistant Secretary-General, IFSB

DEVELOPING THE GOVERNMENT SUKUK MARKET 
Dr. Ghiath Shabsigh, Assistant Director, International Monetary Fund (IMF)

EASING THE WAY FOR “LEASE CERTIFICATES” (SUKUK ) IN TURKEY 
Mr. Ayhan Keser – Assistant General Manager, AlBaraka Turk 

 

PANEL II:  DEVELOPMENT OF SUKUK MARKETS: INSTITUTIONAL AND MARKET ISSUES

RECENT DEVELOPMENTS IN SUKUK STRUCTURING
Mr. Anouar Hassoune, CEO, Hassoune Conseil

SUKUK OVERVIEW & TRENDS
Mr. Ijlal Alvi, CEO, International Islamic Financial Markets