LAHORE: The world’s largest conference on Islamic banking will be held in November at Expo Centre Lahore, Pakistan where speakers, from around the world, particularly from Muslim countries including Malaysia, United Arab Emirates, Kuwait, Mauritius, USA, Indonesia, Switzerland and the UK will be in attendance on the occasion and share their valuable insight and perceptions on Islamic banking and finance.
More than 2000 participants will join in one of the most important conferences ever organised in the history of Pakistan. International collaboration in Islamic banking, the development of Islamic banking practices, Shariah standardisation, proliferation of Islamic banking in non Muslim countries, Takaful, Sukuk and Islamic microfinance will be major themes in the conference. The onus will be on how to exploit the opportunity presented by the utter failure of conventional banking in the global financial crisis.
Also on the agenda will be the desperate circumstances in the areas ravaged by floods in Pakistan and how Islamic finance can be part of the solution. Subsequent to the conference training workshops on Islamic Microfinance and Shariah Standards are also arranged to facilitate bankers and furnish them with important information and financial data in a structured process.
It’s notable that Islamic banking and finance is embedding itself not only in Islamic countries but also in Europe and America. Muslims and non Muslims in the latter are attracted by the benefits of Islamic finance and are at the cutting edge of Islamic banking. It must be appreciated that assets of Islamic banking have now crossed the trillion dollar ceiling. One of the major reasons for this phenomenal performance is the ongoing financial crisis engulfing the global economy.
Islamic banking has entered a new era, no longer a fringe, but now firmly part of the mainstream of global finance. The virtues of Islamic finance have shone through as the global financial complex has been hobbled and humbled.
Conference organiser, Muhammad Zubair Mughal, CEO, AlHuda Centre of Islamic Banking and Economics said that it was an honour for Pakistan to host such a momentous conference. He emphasised Pakistan’s valuable role in establishing Islamic finance on a global scale and is rendering the services for the development of Shariah complaint banking all over the world.
He lauded the positive role played by the Pakistan Islamic banking complex is offering technical support to the Islamic banking of Europe, America and Middle East. A unanimous note from the participant countries is expected to be issued by the end of the international conference that is likely to mark an occasion when Islamic banking comes of age.
