Amwal Al Ghad English - 2013-05-22 10:30:54
More than 480 leading industry players, thought leaders and key regulators in the international and regional Islamic finance industry will be gathering from the 3rd to the 5th of June 2013 at the Pan Pacific Singapore Hotel, Singapore, for the 4th Annual World Islamic Banking Conference: Asia Summit (WIBC Asia 2013). To be held under the theme "Bridging the World of Islamic Finance: Boosting International Linkages and Cross-Border Opportunities", WIBC Asia 2013, hosted with the official support of the Monetary Authority Singapore, will set the stage for high-level discussions focusing on strengthening international connectivity and capturing cross-border opportunities that will drive further growth in the Islamic finance industry in Asia. The summit will also seek to bolster stronger economic linkages with other key centers for Islamic finance, with a principal focus on forging ties with the Arabian Gulf.Announcing the launch of the 4th annual edition of the event, David McLean, Chief Executive of the World Islamic Banking Conference: Asia Summit (WIBC Asia), noted that “the global Islamic finance industry has over the last decade witnessed a transition into a dynamic, fast growing and competitive form of financial intermediation servicing an increasingly international client base”.
“The Ernst & Young World Islamic Banking Competitiveness Report, which was launched at the 19th Annual World Islamic Banking Conference: Global Summit (WIBC) in Bahrain last December, estimated that global Islamic assets are expected to reach $ 1.8 trillion by 2013”, he said.
According to Mr. McLean, a key factor which will ensure further growth in the Islamic finance industry and boost its ability to successfully compete with the conventional financial system would be improved international connectivity - both in terms of trans-jurisdictional regulatory harmonization and product standardization. More»