NBAD’s Financial Workshop: Experts Stress Importance of Sukuk

Published April 12th, 2010 - 01:48 GMT

 The National Bank of Abu Dhabi (NBAD) continued its highly successful Second Global Financial Markets Workshop (GFMW) held in Abu Dhabi TODAY with several events on Islamic finance highlighted by a panel discussion comprising of a well-regarded scholar and professionals in field.

During a discussion and Q&A session, one of the world’s leading Shari’ah scholars Sheikh Nizam Yaquby, specialist Islamic lawyer Neil Miller of Norton Rose and Lawrence Oliver of DD Cap addressed the issues around sukuk issuance and other important topics of the day in global Islamic finance.

Speaking to participants, Sheikh Yaquby stressed the importance of the role of Sukuk. “Sukuk is one of the most important tools of Islamic finance,” Yaquby said.

The daylong event continued with a panel discussion with Abdul Aziz Abu Bakar of CIMB Investment Bank, Lilian Le Falher of Kuwait Finance House, Tariq Rahmat of Qatar Islamic Bank and Rushdi Siddiqui, Thomson Reuters’ Global Head of Islamic Finance. Chavan Bhogaita, Head of Credit Research at NBAD moderated the panel.

NBAD’s Financial Market Division, which organised GFMW, added a workshop on Islamic Finance to this year’s event because of the increasing importance and popularity of Sharia-compliant financial products.

“After witnessing the success of the First GFMW held in October, we were determined to make the Second GFMW more comprehensive for our esteemed investors. So we decided to add a workshop on Islamic Finance given its increasing relevance in today’s financial markets,” said Sameh Abdulla Al Qubaisi, Head of Institutional & Corporate Coverage, NBAD's Financial Markets Division.

The Second GFMW built on last year’s three-day event by adding the Islamic Workshop. This year’s four-day GFMW began on April 5th and continued on April 7th, 8th and 12th with presentations, panel discussions and workshops on important topics of the day.

The GFMW is organised with corporate partners Bloomberg and Thomson Reuters. NBAD set up three simulated dealing rooms – increased from two because of higher than expected demand - with a capacity of 110 delegates per day to allow delegates to gain experience of the latest financial markets tools and analytics. Bloomberg and Thomson Reuters, as well as key individuals from NBAD provided the expert tuition. The delegates were provided the opportunity to participate in panel discussions and Q&A sessions involving senior officials from high profile UAE entities such as Abu Dhabi National Islamic Finance (ADNIF), Etihad, TAQA, GHC, Mubadala, Aldar, Qatar Islamic Bank, Kuwait Finance House, CIMB and Al Jaber Group.

In the afternoon participants attended Thomson Reuters workshops.

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