Channel NewsAsia

Singapore to host global Islamic banking conference next week

The 5th Annual World Islamic Banking Conference aims to capitalise on the increasing trade and investment flows between the Middle East and Asia.

SINGAPORE: More than 500 bankers, policymakers and other experts will gather in Singapore next week for a global Islamic banking conference aimed at capitalising on the increasing trade and investment flows between the Middle East and Asia.

The 5th Annual World Islamic Banking Conference – to be held from June 2 to 4 with the official support of the Monetary Authority of Singapore – will discuss expanding the boundaries of Islamic finance by complementing domestic growth with international linkages.

The event begins with a pre-conference summit organised by the Bahrain-based International Islamic Financial Market (IIFM) on Monday (June 2).

The conference proper starts the day after, with sessions involving the Islamic banking chief of Britain's Standard Chartered as well as senior bankers from Malaysian lenders Maybank and CIMB.

Mr Muzaffar Hisham, Maybank's Head of Group Islamic Banking, said Islamic banking is entering a new phase as can be seen from the recent sovereign Islamic bond issues by newcomers Britain and Hong Kong.

"Despite uncertainty within the global financial markets over the last 12 months, quantitative easing in the United States, a marked slowdown of growth in China and deep restructuring in the Euro-Zone, the Islamic banking industry has seen yet another bumper year in terms of growth," said Mr Muzaffar.

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