AAOIFI International Conference for its 25th Anniversary

Evaluation of Islamic Finance Industry’s Role in Supporting and Enhancing Performance and Growth of Capital Markets

This session hosts a number of chairmen of capital market authorities and governors of central banks, in addition to senior officials who will evaluate the role of Islamic finance in supporting capital markets and enhancing their performance both horizontally and vertically. It will also discuss its role in enhancing economic growth.This session will be moderated by a key media person through direct dialogue, and the floor will be open to the audience for discussion.

Islamic Finance Industry in the Eyes of Early Business Pioneers, and the Way Forward

This session hosts a distinguished group of business leaders and pioneers in the area of Islamic finance. This session will be moderated by a key media person through direct dialogue, and the floor will be open to the audience for discussion.

Main topics:

• • The Beginnings and the Major Drive Behind Establishment of Contemporary Islamic Finance
  • Aspirations: Have They Been Realized after 40 Years?
  • Major Threats and How to Address Them
  • Is the Industry Today Still Anchored to its Early Philosophy?
  • Is the Current Direction of Islamic Finance Aligned with the Direction Envisioned by the Early Pioneers?
  • What Should the Industry Achieve over the Next 10 Years? And How?
  • Pioneers’ Advice to Future Generations of Islamic Finance Leaders.

Evaluation of Shari’ah Performance in the Islamic Finance Industry over a Span of 40 Years

This session will feature the presentation of a seminal paper, commentator’s view, and discussion of the paper and broader session topic by three experts. The floor will be open to the audience for discussion and comments. Overall, the session aims to establish a vision about a project under such a theme, which a think tank or a research center or any professional entity may be commissioned to undertake. Implementation will be based on the criteria and framework set and defined by this session. The project report will be launched and introduced in a successive conference, through a dedicated session.

Main Topics:

• What is meant by the Shari’ah Performance in the Islamic Finance Industry?
• Why Is Shari’ah Performance Evaluation Important?
• The Major Foundations for Shari’ah Performance Evaluation for the Islamic Finance Industry?
• What Are the Fair and Objective Criteria for Shari’ah Performance Evaluation in the Islamic Finance Industry?
• How to Strike a Balance between Shari’ah Performance and Financial Performance of Islamic Financial Institutions? How Does This Impact Shari’ah Performance Evaluation?
• Are There Strategic Mistakes Associated with Shari’ah Performance (which Should Have Not Been Committed?)
• What Are the Major Desired Outcomes from the Evaluation Process?

• Recital of Verses of the Holy Quran

• Conference Introduction: Dr. Hamed Hassan Merah, Secretary General, AAOIFI

• Keynote Address: His Honorable Shaikh Muhammad Taqi Usmani, Chairman, AAOIFI Shari’ah Board

• Keynote Address: H.E Mr. Mohammad Bin Abdullah Al Jada’an, Chairman, Capital Market Authority, Kingdom of Saudi Arabia

• Welcome Address: H.E Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman, Board of Trustees, AAOIFI

• Remarks of the Conference Patron: HRH Prince Faisal Bin Salman Bin Abdul Aziz, Prince of al-Madinah al-Munawwarah Province

• Presentation Ceremony for Conference Sponsors and Supporters

Transforming Islamic Finance from Niche to Mainstream Industry

This session will feature the presentation of a seminal paper, commentator’s view, and discussion of the paper and broader session topic by three experts. The floor will be open to the audience for discussion and comments. Overall, the session aims to establish a vision about a project under such a theme, which a think tank or a research center or any professional entity may be commissioned to undertake. Implementation will be based on the criteria and framework set and defined by this session. The project report will be launched and introduced in a successive conference, through a dedicated session.

Main Topics:

• Current State of International Islamic Finance Industry
• Penetration Rates of Islamic Finance vis-à-vis Overall Financial Systems
• Why Islamic Finance is Still Considered as a Niche Industry?
• What are the Prerequisites for Islamic Finance to be Elevated into a Mainstream Industry?
• How to Transform Islamic Finance into a Mainstream Industry?

Islamic Finance Industry as Memorized by Pioneer Shari’ah Scholars, and the Way Forward

This session hosts a distinguished group of prominent Sharia Scholars who have been pioneers in the area of Islamic finance. This session will be moderated by a key figure from the Islamic finance industry through direct dialogue, and the floor will be open to the audience for discussion.

• The Beginnings and the Major Drive Behind Establishment of Contemporary Islamic Finance
• Aspirations: Have They Been Realized after 40 Years?
• Major Threats and How to Address Them
• Has the Industry Established a Plausible Fiqh Theory (In Terms of Methodology, Principles, and Objectives)?
• Have Ijtihad Methodologies as to Emerging Matters Changed Since Inception?
• How to Differentiate Between Interim Fiqh and Extended Fiqh?
• What Should the Industry Achieve over the Next 10 Years? And How?
• Pioneers’ Advice to Future Generations of Islamic Finance Leaders.

Moderator: Shaikh Muhammad Al Muqrin, Famous Presenter.

Panelists:

• Shaikh Taqi Usmani, AAOIFI Shari’ah Board Chairman; Chairman Central Shari’ah Board, Central Bank of Pakistan; Deputy President, Dar al Uloom, Karachi, Pakistan
• Shaikh Abdulla Bin Sulaiman al Manea’, AAOIFI Shari’ah Board Deputy Chairman; Advisor to the Saudi Royal Court
• Shaikh Dr. Abdul Sattar Abu Ghuddah, AAOIFI Shari’ah Board Member; Chairman and Member of SSBs of IFIs
• Shaikh Prof. Hussain Hamed Hassan, AAOIFI Shari’ah Board Member; Legal Expert; Chairman and Member of SSBs of IFIs

(Awqaf Companies) from Fiqh and Law Perspectives, and Their Role In Developing Awqaf  and Widening the Scope its Benefits

This session will feature the presentation of two working papers: one focuses on Fiqh aspects and the other on legal aspects, in addition to views of two commentators: one with a financial background and the other with a regulatory and supervisory background. This aims to figure out a clear-cut practical vision for the topic from its different perspectives.

Main topics:

• What is meant by an Awqaf Companies?
• Major Shari’ah Rulings and Practicalities Pertaining to Awqaf Companies.
• Awqaf Companies from a Legal Perspective, and an Overview of Major Experiences and Practices
• Expected Role of Awqaf Companies in Developing Awqaf and Widening the Scope of its Benefits
• What Are the Major Desired Outcomes from the Evaluation Process?

How To Improve Effectiveness of Islamic Finance in Supporting Further Development of Micro-, Small, and Medium-Sized Industries (MSMI).

This session will feature the presentation of a seminal paper, commentator’s view, and discussion of the paper and broader session topic by three experts. The floor will be open to the audience for discussion and comments. Overall, the session aims to establish a vision about a project under such a theme, which a think tank or a research center or any professional entity may be commissioned to undertake. Implementation will be based on the criteria and framework set and defined by this session. The project report will be launched and introduced in a successive conference, through a dedicated session.

Main topics:

• Has Islamic Finance Improved Access to Finance for MSMI?
• What Must be Done to Encourage Greater Equity Participation in MSMI?
• Challenges and Issues in Financing MSMI and How to Address Them
• How to Promote Entrepreneurship Development to Support MSMI?
• How to Shape the Outcomes into a Work Project? What Are the Main Parties Capable of Execution of this Work Project?