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World Conference Of Islamic Banks Looking Cross-Border Opportunities

Meet more than 480 personal of the most prominent leaders of the banking sector and thought leaders in the Global Islamic finance industry in the period from the third to the fifth of June 2013 at the Hotel Pan Pacific Singapore, as part of the activities of the World Conference Fourth Annual Islamic Banking: Summit Asian Conference (World Islamic Banking Asia 2013), which held the official support of the Monetary Authority of Singapore.
islamic finance

It is scheduled to be launched the activities of the World Conference of Islamic banks which will be held over three days under the slogan «build bridges between the global Islamic finance sectors: promotion of international linkages and cross-border opportunities. As a special symposium will be opened in the Islamic financial market with a focus on international Islamic liquidity management, hedging and Islamic capital market instruments, an opening session with President Khalid Hamad Abdul-Rahman Hamad, Chairman of the International Islamic Financial Market.

And Executive Director of Banking Supervision at the CBB; Long Nam Sin, Assistant Managing Director, Group D Monetary Authority of Singapore. The opening session will be followed by Summit to be held in pre-conference special word of the President by Dr. Halim Cah, Deputy Governor of Bank Indonesia.

Furthermore, the president will be the opening of the conference, scheduled to be launched in the fourth of June, private speech delivered by Lim Heng Kiang, Minister of Trade and Industry of the Republic of Singapore and Deputy Chairman of the Monetary Authority of Singapore. The opening speech will be followed by a direct throw two keywords special Alekayama Dr. Mohammed Yousef Al-Hashel, Governor of the Central Bank of Kuwait; Ranjit Ajit Singh, Chairman of the Securities Commission of Malaysia.

Industries vital

Commenting on the support of the Monetary Authority of Singapore for the World Conference of Islamic Banking Asia 2013, commented Ravi Menon, Governor of the Monetary Authority of Singapore said, "We have the evolution of the World Conference of Islamic Banking Asia in terms of its size and stature since its inception in 2010, which is in the recent current platform an important link between Islamic finance vital industries in Asia and the Middle East. also enhances the conference also display the value of funding for the Islamic finance industry more broadly in the region. "

It should be noted that it is scheduled to present the exhibition The World Islamic Banking Asia 2013, which will be held on the sidelines of the conference as well, the next generation of Islamic financial products, and innovative solutions, as well as the latest developments in the Islamic banking sector and international financial industry.

Improvements to the legal and regulatory frameworks

Said Dato Sri Abdul Hamidi bin Abdul Hafiz, CEO of Kuwait Finance House (Malaysia) : "showed the Islamic finance industry a tremendous growth in terms of volume of business, product innovation, and the geographical spread, as well as achieving significant improvements at the level of legal and regulatory frameworks. Attracts these Current industry in recent customers from all different segments and sectors of the economy.

It is moving forward towards achieving further progress and success. However, the Islamic financial system is still very small compared with the traditional economic system that currently exists. However, it is through the development of lessons learned from the recent Global financial crisis, we have become well aware of the risks inherent in the capital is produced, and what we should do in the recent current is to collect surplus funds viable investment to promote economic prosperity to more efficiency and effectiveness and that of through the financing of real economic activity, which is completely in line with the objectives of Islamic finance.

Is Islamic Finance Has Achieved Development For Society?

Islamic finance in theory began with Islamic law, which came as part of an integrated system comprehensive life dealing with worship and transactions and ethics, in a balanced manner make legislation relating to worship the words from the teachings of detailed addresses of worship with respect to provisions in all its details minute, as in prayer, fasting and Zakat The pilgrimage, though the tendency to worship God is innate, but the details, you can not rely on human nature to learn the proper way to practice; legislation so it was dealt with in detail.
With regard to transactions, the origin of Islamic law that deals with many of them in its entirety, and gives an outline of its provisions, because the legislation with regard to the provisions of the transaction is based mostly on the wisdom of the phenomenon, as it is not a destination "Sharaa" often in such transactions to highlight the commitment and discipline orders "Sharaa" - but at the end of the case, but the destination is the real achievement of justice and the public interest of the community, and the balance between the individual's right hand that gets it is the product of diligence, on the other hand the right of society on the one hand that in general to achieve the public interest and not harm the structure of community economic .
Therefore, most provisions relating to financial transactions, a reflection of the wisdom of the phenomenon of the legislator, as it seeks to achieve interest and balance the pros and cons, so most of the issues related to these transactions, we find that the interests of the evils and interest requires giving priority to whichever is greater impact, if GLBT interest in the transaction, the legislation tends even, in some cases, to cram them, but if overcome corrupting the legislation tends to leave and prevention of them, this is of course a general rule can not drop its image outlined the details of the provisions always, but when what appeared judgment on the issue of it with certainty that the public interest so requires .
Through the evaluation process of Islamic finance, and because Islamic law in transactions in the interest of the phenomenon can be felt by the human, the question on the impact of applications of Islamic finance in the development and treatment of economic problems in society is a project, especially when we see that some Muslim communities suffer economic problems, chronic , in addition to the weakness in productivity compared to many countries in the world, whether developed or emerging, as well as high rates of poverty and unemployment, poor nutrition, and health and educational problems in some countries, a reflection of the poor economic situation. 8020 fat loss
We know that the Islamic finance began since the start of the message, but the perception of the modern Islamic finance began in the seventh decade of the last century when it began to experience Ahmad al-Najjar in 1963, followed by a series of experiments, where she focused these experiments on the banking business, especially after the experience of Bank of Dubai Islamic in 1975, and today we are 50 years after the establishment of the first experience of contemporary Islamic finance, we do not find a major development of the economies of Islamic countries, equivalent to the developments of many countries in the world, and to reflect what their natural wealth and human resources, and including also reflects the legacy great historical , and its strategic location between nations.
There is no doubt that the experience of banks and the subsequent subsequent developments did not achieve real development even though in itself is not a draft negative impact on society, but it can be described as the experience is incomplete because it did not exist integration of the components of Islamic economics, as the experience to complete not must be a strategy to build the potential of human resources, and optimum utilization of natural resources, and build a productive industrial, agricultural and service makes the productivity of the individual outweigh the needs, and this is the simple equation of the economy productive, then the banks and the financial sector in general, a tributary of the productive sectors and enhanced their growth, as that banks today are still far somewhat from real participation in the productive sectors, as the practice of contracts, such as contracts for the company or speculation that will enhance the role of financial institutions, positive, and lays the foundation for building development projects in the community, and fills the gap in Islamic societies is the absence of capital which enhances the potential of human resources, and the optimum exploitation of natural resources, but the role of Islamic finance will remain weak in promoting the progress of the development of Islamic societies. im john chow
Conclusion .. Islamic finance, although it has achieved significant growth during the last period, but that its impact on development in Muslim societies weak for lack of integration in the components of the Islamic economy, and the weakness of the role of Islamic financial institutions, which depends on positive contracts, such as contracts Posts and speculation.

Salah Bin Fahad Al-Shalhoub
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AGFUND poses mechanisms of microfinance a funky alternative to the fight against hunger in the world

Confirmed the Arab Gulf Program for Development "AGFUND" headed by Prince Talal bin Abdul Aziz, his commitment to the fight against hunger in the world through the mechanisms of microfinance and poverty reduction, and improve the conditions of needy segments.

AGFUND supports development strategy is based on three axes: finance projects around the world without discrimination, and building projects for the benefit of those in need, such as banks for the poor, and development partnerships.

AGFUND

In the context of the third track, which means "partnerships" Search AGFUND promote development of relations with the World Food Programme of the United Nations, during a meeting held yesterday at the headquarters of AGFUND in Riyadh.

The Executive Director of AGFUND Nasser bin Bakr Al-Qahtani said the two sides discussed visions serve the fight against hunger in unconventional ways, stressing the readiness of AGFUND to contribute to the financing of projects aimed to fight hunger through alternatives to traditional developed, which mechanisms of microfinance, and banks poverty founded by AGFUND and deployed in the region .

The long cooperation between AGFUND and United Nations organizations makes the common language between them and clear, which helps to achieve common goals in the time frame and in a timely manner for the target segments.

The meeting was attended by AGFUND Executive Director of AGFUND Nasser bin Bakr Al-Qahtani, Director of Project Management Jibreen Jibreen, and the Secretary General of the AGFUND Prize Media Director Abdul Latif Alazaviha, and was attended by the World Food Programme Executive Director Catherine Cazin and the Deputy Executive Director Chief Operating Prince Abdullah, the Assistant Director Executive Romer Lopez, and Permanent Representative of the Kingdom to the Food and Agriculture Organization of the United Nations in Rome Bandar bin Abdulmohsen Al-Shalhoub, WFP Regional Director Mohamed Diab, Donor Relations Officer World Jewels Atef Programme.

Entrepreneurship Fund To Finance Institutions

The Private Investment Corporation "OPEC" U.S. government institution specialized in finance and development and "ABRAJ Capital" Agreement commitment to invest $150 million in a fund to support small and medium enterprises in the Middle East and North Africa "MENA".

Small Business Loans

The fund, which invests dubbed "Entrepreneurship Fund to finance institutions" in the small and medium-sized enterprises and administered by Aureus Capital, a subsidiary of Towers Fund represents of its $ 400 million capital funding source for small and medium-sized projects with countries in the region.

The agreement was signed by John Morton representing OPEC Foundation and Mustafa Abdel-Wadood, CEO of "ABRAJ Capital".

finance

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Standard & Poor's Optimistic The Egyptian Economy

The Standard & Poor's credit rating Agency issued recently a report which suggests to reduce chances of sovereign rating to Egypt during the coming period with the lifting of sovereign credit rating of long-term development "under review" and to maintain the degree classification B.
Standard & Poor's

The most important indicators which reflected the confidence of international institutions in the Egyptian economy ranking, which happened between the Islamists and the military with respect to the management of the affairs of the country, pointing out that the presence of one party elected responsible for running the country led to encourage representatives of those institutions to hold talks on foreign loans and others. The report is the starting point for the transformation of foreign investments look to Egypt to positive, although it does not carry powerful messages to reassure but at least remove Egypt from the black circle It is also the beginning of a positive logical that followed better assessments of the performance of the Egyptian economy.

For the first time since the outbreak of the revolution Foundation credit rating change outlook gloomy for Egypt to optimistic, and came by coordinated action between the two leaderships of political and military in the country and the emphasis on civil state which gave positive messages to investors, also supported the optimistic outlook visit Director International Monetary Fund to Egypt and an agreement on Fund loan program.

And so the S & P sends messages optimism the Egyptian economy to the foreign investment community.

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Sanabel Microfinance Conference

The Microfinance Network of Arab Countries "Sanabel" organize the Seventh Annual Microfinance Conference, in June 1st - 3rd, 2010 at the Convention Palace in Damascus, Syria.
The theme of this year’s conference will be “Responsible Growth: Learning from Global Trends and Regional Experiences”.

Over the course of three days, more than five hundred participants will have the opportunity to learn from expert panelists and share individual experiences through sessions, mini-trainings, and workshops designed under four different tracks; namely, “Responsible Finance”, “Investment Readiness”, “Increasing Outreach while Maintaining Quality” and “Enabling Policies and Regulation”.

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