Notwithstanding the recent global economic challenges, Islamic banking and finance continues to be one of the fastest growing segments in the global financial markets. The Middle East region alone has witnessed 20% CAGR growth over the past 5 years and is well positioned to double by 2015 according to the EY World Islamic Banking Competitiveness Report. This high-growth trajectory is being further supplemented by new strategic initiatives to align and integrate Islamic finance within the broader Islamic economic eco-system, including significant industries such as Halaal foods. Industry leaders are now taking practical steps towards capitalising on the next growth phase for Islamic banking in the region.
Dubai’s Vision to Become a Global Hub for Islamic Industries and Economy: Implications for Islamic Finance Regionally and Internationally?
Dubai has recently unveiled a major new strategic push to establish itself as the global hub of the Islamic economy. This initiative will seek to create an integrated platform that will better align Islamic finance instruments, Takaful, Islamic contracts arbitration, the Halaal food industry, plus trade and quality standards, while creating an officially sanctioned Shari’ah supervisory council. It is expected that this bold blueprint will create a significant new growth impetus for Islamic finance as the industry becomes better connected to the real economy. Shari’ah-compliant alternatives have become increasingly attractive among the investment community, corporate end users, consumers and intermediaries, with the Middle East, which accounts for nearly 60% of global Islamic banking assets, clearly positioned as a key nerve centre of Islamic finance and broader Islamic industries.
The 3rd Annual MEIFIC 2013 Dubai: New Growth Opportunities
It is against this dynamic backdrop that the 3rd Annual Middle East Islamic Finance & Investment Conference (MEIFIC 2013)
will be convened to specifically focus on the new opportunities and challenges that are forging the Islamic banking, finance and investment landscape in the region. To be held on the 17th of April 2013 at the Dusit Thani Dubai, MEIFIC 2013 will focus on providing a powerful platform for industry players seeking to further build their presence in the dynamically evolving Middle East markets for Islamic finance and to explore emerging opportunities for convergence with broader Islamic industries and even greater integration with the real economy, which will further increase the momentum of growth.