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Workshop on Islamic Liquidity Management kicks off in Muscat

Published: 12/05/2012 09:13:00 AM GMT
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Muscat: A 2-day workshop (5-6 May, 2012) on Islamic Liquidity Management and Capital Market has commenced at the Head office of BankMuscat in the capital of Oman. The workshop has been organized by BankMuscat’s Meethaq Islamic Banking in association with International Islamic Financial Market (IIFM).

By Farhan Iqbal


Muscat: A 2-day workshop (5-6 May, 2012) on Islamic Liquidity Management and Capital Market has commenced at the Head office of BankMuscat in the capital of Oman. The workshop has been organized by BankMuscat’s Meethaq Islamic Banking in association with International Islamic Financial Market (IIFM).

The high dignitaries will mark their presence in the opening ceremony of the workshop including the Executive President of Capital Market Authority, His Excellency Abdullah Al Salmi, and the Chief Executive of BankMuscat, AbdulRazak Ali Issa. The Executive President of the Central Bank of Oman, His Excellency Hamoud bin Sangour al Zadjali, will preside over the opening ceremony of the workshop.

The leading representatives and regulators of the Islamic Finance industry will attend the workshop which has been patronized by the Central Bank of Oman and Capital Market Authority aiming at sharing knowledge on the latest trends in Islamic finance.

The workshop’s main objective is to highlight the need for developing Islamic liquidity management tools, capital market, risk mitigation and credit enhancement. Group General Manager, Islamic Banking, BankMuscat, Sulaiman Al Harthy, will address the opening ceremony.

The workshop organizers and participants acknowledge the fact that a strong capital base is necessary for banking and financial institutions, but on its own is not a sufficient condition to ensure stability and they assume importance against the backdrop of the prevailing global financial crisis.

The workshop has been organized to gather support for the further growth of Islamic finance system in Oman. The Islamic finance system in the country can become a resilient and sustainable system by a strong capital base backed by strong liquidity tools.

The workshop will emphasize to explore the instruments that help facilitation in liquidity management for Islamic banks and also help achieve a reasonable commercial return. There is also a need of a system accomplishing traditional role of financial intermediation between depositors and productive activity such as financing.

CEO SHAPE Financial Corporation Kuwait, AbdulKader Thomas, will deliver a special lecture on “Islamic Financial Services Industry – Its evolution, journey, growth, trends and future direction.”

He will also perform his duties as a moderator in the first session on “Islamic banking, Basel III and the role of Central banks and Standard Setting Bodies” and the session on “Trends in the Global Sukuk Market.”

A Dubai-based independent Islamic banker, Ismail Dadabhoy, will moderate a session on “Islamic Inter-Bank Market – Liquidity Management Tools.” A session on “Risk Mitigation in Islamic Finance – A Market Perspective” will be moderated by the Managing Director, Credit Agricole CIB and Vice-Chairman of IIFM, Simon Eedle.

Executive Manager, Islamic Financial Services Group, Ernst & Young, Sohaib Umar, will be the moderator in sessions on “Shariah Panel Discussion” and “Financial Stability, Structures & Credit Enhancement in Islamic Financial Market Products & Services.”

Abdullah Haron (IFSB), Ijlal Ahmed Alvi (IIFM), Dr. Mohammed Daud Bakar (Amanie Advisors), Faheem Ahmad (IIRA), Mark Pritchard (NBAD), Shaikh Muddassir Siddiqui (ISRA), Daniel Cookson and. Mark Dickinson (Clifford Chance), Hatim El-Tahir (Deloitte) and Sheikh Kahlan Al Kharusi (Assistant Grand Mufti of Oman) are included in the group of experts and panelists from the Gulf Cooperation Council (GCC) and Far East region as they are considered to be the leaders of the industry.



BankMuscat building in Muscat, Oman

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