Oman Second Islamic Banking & Finance Conference  
Main Speakers
  • H.E. Dr. Mohammad Al-Hashel
    Central Bank of Kuwait
  • H.E. Dr. Mohammad Al-Hashel

    H.E. Al-Hashel had served as Sheikh Salem's deputy since January 2009 and is expected to follow in his footsteps despite his relative lack of experience.

    He was a member of Kuwait's stock exchange committee from 2008-2011, during a time when the country decided to privatise the bourse. The privatisation plan is progressing slowly.

    H.E. Al-Hashel is also a member of the technical committee of the Islamic Financial Services Board (IFSB).

  • Jaseem Ahmed
    Islamic Financial Services Board (IFSB)
  • Jaseem Ahmed

    Jaseem Ahmed assumed the position of the Secretary-General of the Islamic Financial Services Board (IFSB) on 1st May 2011.

    He has more than 20 years experience in financial sector issues. Prior to his appointment to the IFSB, Mr. Ahmed served as the Director, Financial Sector, Public Management and Trade, Southeast Asia Department of the Asian Development Bank (ADB). In this capacity, he was responsible for managing the ADB's lending, technical assistance, and capacity building operations in Southeast Asia for the promotion of sound banking and non-banking financial sectors, and for the strengthening of supervision and regulatory capacities. Mr. Ahmed led the ADB's response in the Southeast Asia region to the global crisis, and was also Practice Leader for Islamic finance at the ADB.

    Mr. Ahmed has a BA in economics from the University of Sussex and also holds two graduate degrees in economics from Yale University. He is a national of Bangladesh.

  • Dr. Khaled Al Fakih
    Accounting and Auditing Organization for Islamic Financial Institutions
  • Dr. Khaled Al Fakih

    Dr. Khaled Al Fakih is the Secretary General of Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), the international organisation responsible for standards on accounting, auditing, ethics, governance and Shari’a for the global Islamic finance industry. Dr. Al Fakih has extensive experience in banking and finance and unique combination of expertise in Islamic law, risk management, audit and technical finance. He holds a PhD in Islamic Studies from the University of Saint Joseph, Beirut, Lebanon, and MBA in Banking and Finance. Dr. Al Fakih is a Certified Financial Risk Manager (FRM), Certified Management Accountant (CMA), Certified Internal Auditor (CIA), Certified Financial Services Auditor (CFSA), and Certified Control Self-Assessment (CCSA). He was a member of the Islamic Banks Committee of Association of Banks in Lebanon. He was also a member of venture capital and Islamic securitization study group as well as Islamic corporate governance study group at Central Bank of Lebanon in 2007. In addition, he has lectured on the principles of Islamic jurisprudence (Fiqh Al Mu’amalat) at Islamic University of Beirut’s Al Sharia College, and delivered seminars in different countries in collaboration with International Monetary Fund, ABL and Union of Arab Banks, covering major Islamic finance topics on principles of Islamic finance, structured finance, risk management and audit. Prior to AAOIFI, he was heading Bank Audi sal’s group Islamic banking operations.

  • Furqan Ahmad
    Horwath Mak
  • Furqan Ahmad

    Furqan Ahmad has served in senior management role in Islamic Financial Institutions in USA and GCC over last 12 years. He has been responsible for Product Management, Segmentation, P & L, Sales, Marketing, Training and Distribution of Islamic Banking Products.

    Mr. Ahmad has led the launch of new Sharia compliant product propositions, increased portfolio size while spearheading operational improvements to drive productivity and reduce costs. He has led the set up Profit Management System as senior member of Islamic Banking Project Management Committee.

    At ADCB Islamic Banking, he built new Islamic product suites right from scratch and helped grow business portfolio successfully. Prior to Dubai Islamic Bank and ADCB, Mr. Ahmad served Mashreq Al Islami in UAE where he was involved in the Islamic Banking launch project, developing Asset, Liability and Sukuk Investment products.

    Furqan Ahmad holds MBA in International Business Finance from the George Washington University, Washington, DC, USA and BBA in Marketing from IBA University, Karachi, Pakistan.

  • Michael Grifferty
    The Gulf Bond and Sukuk Association
  • Michael P. Grifferty

    Mr. Grifferty founded and leads The Gulf Bond and Sukuk Association (GBSA) the independent industry association representing the Arabian Gulf fixed income market.

    Prior to founding GBSA, he served as advisor for the US Treasury on sovereign debt and bond markets, where he advised over forty countries and regional organizations. He has also consulted for the International Monetary Fund and Arab Monetary Fund.

    Prior to his international career, Mr. Grifferty was a senior vice president at Government Finance Associates, providing problem-solving financial advisory services to US state and local governments and public authorities. A sought after speaker at international conferences, he is also frequent contributor to the financial press.

    Mr. Grifferty has degrees from New York University and Georgetown University in Public Finance and International Relations, respectively.


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Oman Second Islamic Banking & Finance Conference took place on the 17th & 18th of March 2013 at the Bustan Hotel in Muscat, and shed light on latest developments in the banking industry of the Sultanate and explore outlook and challenges of implementing Islamic banking.

Oman Islamic Banking & Finance Conference

The Sultanate & Islamic Banking

Oman was until 2011 the only Gulf state that did not constitute of banks offering Islamic products and services. However, the Central Bank of Oman, in May 2011 announced it would allow conventional lenders to run sharia- compliant operations in a bid to keep investment funds within the country.

Islamic banking, comprises of banking operations that exclude the use of the interest rate “interest free banking” amongst other aspects, and is one of the fastest growing segments of the international financial system, with an annual growth rate exceeding 20 percent over the past decade. Islamic assets stood at USD 1 trillion in 2010 and are expected to reach USD1.6 trillion in 2012.

In Saudi Arabia, Sharia-compliant financing accounts for 57 % of the total lending and all retail banking activities are Sharia compliant. In the UAE and Qatar, Islamic banking share of assets has grown at a compounded annual growth rate (CARG) of 38 per cent and 50 per cent respectively, over the recent years.

These figures provide more than just a hint at how Islamic banking will fare in Oman, as Islamic banks and windows are set to capture a significant share of the country's estimated $42bn held in assets over coming months

NEWS
OIF 2013: Islamic banks are called upon to take part in the financing of economies and stimulation of capital markets Mar 20th, 2013
The conference which took place on 17-18 March in Oman, was distinguished this year by the high level participation of key Islamic finance figures headed by government officials, heads of monetary & regulatory bodies for Islamic banking, an ...
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Oman Second Islamic Banking and Finance Conference witnesses high level participation Feb 27th, 2013
Under the patronage of His Highness Sayyid Shihab Bin Tariq Al Said, Advisor to His Majesty the Sultan, Oman Second Islamic Banking and Finance Conference is to take place on the 17th and 18th of March 2013 ...
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