International Islamic Financial Market (IIFM) to hold major conference and workshop in conjunction with the 15th Board of Directors Meeting of IIFM i

Published August 22nd, 2006 - 06:17 GMT

The International Islamic Financial Market (IIFM), an international institution focused on the development of the global Islamic capital and financial markets, is organizing a specialized conference and workshop on Islamic banking, capital and financial markets.

The event, on 11 & 12 September 2006, will be held in conjunction with the 15th meeting of the IIFM Board of Directors.

The conference will be inaugurated by H.E. Dr Burhanuddin Abdullah, Governor of Bank Indonesia, the central bank of Indonesia.

“This is the first undertaking by the IIFM in South-East Asia, an important and fairly developing market for Islamic finance,” said Mr. Ijlal Alvi, Chief Executive Officer of the Bahrain-based IIFM.

“Creating synergies and strong links between the major markets in Islamic business are critical to the success of IIFM’s mission of developing and stimulating the Islamic capital and short term financial market.”

The theme of the conference, which be held on 11 September 2006, in general will be focus on assessing the achievements and shortcomings of the Islamic financial industry and future prospects as well as the importance of a robust Islamic capital market and short term financial market and; in particular the prospects of sukuks, Islamic money market and liquidity.

The conference will have a good blend of local Indonesian and international speakers. IIFM has arranged for 8 speakers who are international industry experts to present at the conference and workshop. Key speakers at the conference include Mr. A. Riawan Amin, President of Bank Muamalat, Indonesia; Mr. Khalid Hamad, Executive Director, Banking Supervision, Bahrain Monetary Agency, Bahrain; Mr. Azizan Abdul Rahman, Director General, Labuan Offshore Financial Services Authority (LOFSA), Malaysia; Mr. Lillian Le Falher, Manager Treasury, Kuwait Finance House, Bahrain; Mr. Mohsin Nathani, Managing Director, Global Islamic Finance, Citi Islamic Investment Bank, Bahrain and; Mr. Pervez Said, Director and Advisor, Islamic Banking Department, State Bank of Pakistan, Pakistan.

“The conference is aimed at local Indonesian and regional market players,” said Mr. Alvi. The focus will be on the development of the Islamic finance industry in Indonesia.

The conference will be followed by an International Workshop on Sukuk, on 12 September 2006. The specialized event, which will be inaugurated by H.E. Dr. Sri Mulyani Indrawati, Minister of Finance of Indonesia, will focus on the global sukuk market and its development as well as the prospects for sukuk and sukuk policy in Indonesia.

Prominent speakers at the workshop will include Dr. Mulia Nasution, Director General of Treasury at the Indonesian Ministry of Finance and Dr. Humayon Dar, Managing Director, Dar Al Istithmar; as well as high level industry executives from CIMB Islamic Malaysia, HSBC, Maybank Malaysia and regulatory bodies.

IIFM wishes to acknowledge the strong support of Bank Indonesia as Supporter of the event, Bank Muamalat Indonesia as Host and Dar Al Istithmar as Main Sponsor and LOFSA as Silver Sponsor of the conference and workshop.

About International Islamic Financial Market

The International Islamic Financial Market (IIFM) was established in Bahrain in 2002 by the Islamic Development Bank, the central banks of Bahrain, Malaysia, Sudan and Indonesia and the Brunei Finance Ministry.

The mission of the IIFM, a globally-focused non-profit institution, is to develop the primary Islamic and short term financial market and, subsequently, the creation of a secondary market for Islamic financial instruments. IIFM is also focused on the advancement and standardization of Islamic financial instrument structures and contracts, infrastructure development, Islamic management system, issuance of guidelines and enhancing cooperation among the world’s Islamic financial institutions.

For more information about the IIFM, please visit the IIFM website at

About Bank Indonesia
Bank Indonesia is the central bank of Indonesia. As such, Bank Indonesia has one single objective of achieving and maintaining stability of the national currency. To achieve this, Bank Indonesia utlises a three-pronged strategy which involves formulating and implementing monetary policy, regulating and ensuring a smooth payment system, and regulating and supervising the national banking system.
About Bank Muamalat Indonesia
Bank Muamalat Indonesia is a leading Islamic bank in the country, with assets exceeding US$ XX in 2004. The Bank was established in 1991, endorsed by the Indonesian Council of Ulemas (MUI) and the Government of Indonesia, and commenced operations in May 1992. In 1994, Bank Muamalat received its license to operate as a Foreign Exchange Bank.
About Dar Al Istithmar

Dar Al Istithmar (DI), is a joint venture between Deutsche Bank, Russell Wood and Oxford Islamic Finance and was incorporated in the United Kingdom as a private limited company for the purpose of offering Shari’a-compliant solutions to institutions offering Islamic financial services.

DI aims at expanding frontiers of the Islamic finance industry through a continuous process of innovation in finance and Shari’a advice. Apart from its commercial objectives, DI also serves as a think-tank for the Islamic finance industry.


The Labuan Offshore Financial Services Authority (LOFSA) of Malaysia is a one-stop agency established in 1996 to focus on business development and promotional activities; process application and supervise offshore financial activities; develop national objectives, policies and set priorities; administer and enforce offshore legislations and; incorporate and register offshore companies.

LOFSA has implemented policies that facilitate the creation of a competitive and attractive business environment in Labuan, which offers business-friendly legislative framework and enjoys an international image as a clean and reputable offshore financial centre.



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