Islamic banking, finance to be main focus at 9th WIEF

Islamic banking and finance is expected to be the main focus at the 9th World Islamic Economic Forum (WIEF) to be held in London this year as the UK is looking forward to improving its Islamic finance facilities and upgrading the standard of knowledge and services in the country.

WIEF chairman Tun Musa Hitam said that when the organisation first thought of the idea of organising the event in London, its first non-Muslim capital, the British were keen to learn what the Malaysians have to offer.

“Many countries are starting to take Islamic finance seriously and that reflected on the success of the system, where Malaysia can claim to be one of the pioneers.

“The fame of Malaysia in this particular industry makes the British excited about it and I believe that it is going to be the main agenda at the 9th WIEF to be held in London this year,” he told a press conference in Kuala Lumpur yesterday.

On the other hand, WIEF has confirmed that 17 global leaders, including Malaysian Prime Minister Datuk Seri Mohd Najib Razak, are participating at the 9th WIEF, which will meet at Excel, London, from Oct 29-31.

Najib is also the patron of the WIEF foundation. Other global leaders include UK Prime Minister David Cameron, Brunei’s Sultan Hassanal Bolkiah, Jordan’s King Abdullah II, Afghanistan President Hamid Karzai and Kosovo President Atifete Jahjaga, among others.

Musa said Malaysia, as a leading Islamic finance hub, will be presented by industry leaders including Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz, WIEF Islamic Finance and Banking advisor and Hong Leong Islamic Bank Bhd CEO Raja Teh Maimunah Abdul Aziz, Maybank Islamic Bhd CEO Muzaffar Hisham and the International Centre for Education in Islamic Finance president and CEO Daud Vicary Abdullah.

Issues that will be covered at the three-day forum include harnessing the potential of women as critical growth drivers, harmonising Islamic and Western banking, exploring the export potential for high quality education in developing economies, and developing technological collaboration between Islamic and European economies.

Prominent speakers and participants attending the forum include more than 10 ministers and more than 1,800 CEOs, academic scholars, regional experts, health professionals, corporate managers, business leaders, policy makers, innovators and investors from more than 120 countries.

*This article was published by The Malaysian Reserve. Read the original article here.

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