Singapore Hosts Global Islamic Banking Conference Next Week

The 5th Annual World Islamic Banking Conference takes advantage of the increasing trade and investment flows between the Middle East and Asia.

The Global Islamic Banking Conference in Singapore will host more than 500 bankers, policymakers and other experts in the hope that the increasing trade and investment flows between the Middle East and Asia. The conference is to be held from June 2 to 4 and is officially supported by the Monetary Authority of Singapore. The aim is to discuss expanding the boundaries of Islamic finance by completing domestic growth with international linkages.

The Bahrain-based International Islamic Financial Market (IIFM) have organised a pre-conference summit on Monday 2 June. This is to be followed by the formal start of the conference the day after, including sessions involving the Islamic banking chief of Britain's Standard Chartered as well as senior bankers from Malaysian lenders CIMB and Maybank.

Maybank's Head of Group Islamic Banking, Mr Muzaffar Hisham, said that, Islamic banking is entering a new phase which is apparent 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."