centre for excellence in islamic finance institute of...

5 - 6 September 2016, Karachi, Pakistanat Movenpick Hotel

In collaboration with INCEIF

WORLD ISLAMIC FINANCE FORUM(WIFF) 2016

Centre for Excellence in Islamic Finance

Institute of Business Administration

CEIF

WIFF 2016 is a unique conference being organized by CEIF-IBA to bring together researchers, academicians and practitioners for generating

innovative ideas to stimulate Islamic Finance growth while overcoming present day industry challenges.

Strategic Partner Research Partners

Academic Partner

I s l a m i c R e s e a r c h & T r a i n i n g I n s t i t u t e

International Shari’ah Research Academy for Islamic Finance

ROADMAP FOR FUTURE ANDCRITICAL SUCCESS FACTORS

AGENDA

Mr. Ahmed Ali Siddiqui, Director, Centre for Excellence in Islamic Finance at Institute of Business Administration (CEIF-IBA)

Dr. Farrukh Iqbal, Dean and Director, IBA

Dr. Ishrat Husain, Chairman, CEIF-IBA

Shaikh Muhammad Taqi Usmani, Shariah Board Chairman, Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI); Chairman Shariah Board, Meezan Bank; Deputy President, Dar ul Uloom, Karachi, Pakistan

Mr. Ashraf Mahmood Wathra, Governor, State Bank of Pakistan (SBP)

Prof. Dr. Abbas Mirakhor, First Holder, International Centre for Education in Islamic Finance (INCEIF) Chair of Islamic Finance

Dr. Azmi Omar, Director General, Islamic Research and Training Institute (IRTI)

Senator Mohammad Ishaq Dar, Minister of Finance

Senator Mohammad Ishaq Dar, Dr. Ishrat Husain, Dr. Farrukh Iqbal, Mr. Ashraf Mahmood Wathra, Dr. Azmi Omar and Mr. Mustafa Adil (Head of Islamic Finance, Thomson Reuters)

Research Team

Dr. Zamir Iqbal, Lead Financial Sector Specialist, Finance & Markets Global Practice, World Bank Global Islamic Finance Development Centre

Dr. Dawood Ashraf, Senior Researcher (Islamic Finance), IRTI

Mr. Mustafa Adil, Head of Islamic Finance, Thomson Reuters

Ms. Irum Saba, Assistant Professor, CEIF-IBA

Mr. Saeed Ahmed, Deputy Governor, State Bank of Pakistan

Mr. Ahmed Ali Siddiqui, Director, CEIF

Prof. Dr. Abbas Mirakhor, First Holder, INCEIF Chair of Islamic Finance

“SMEs’ Access to Finance in South Asia: Can Islamic Finance be the Catalyst?”By Tarik Akin, Ayse Nur Aydin and Zamir Iqbal

8:00am - 9:00am

9:00am - 9:30am

9:30am – 11:05am

11:05am - 11:30am

11:30am - 11:45am

11:45am - 12:30pm

12:30pm – 1:30pm

Registration

Networking Break and Documentary

OPENING

Recitation from Holy Quran (5 mins)

Opening Remarks (5 mins)

Welcome Note (5 mins)

Setting the Stage (10 mins)

Visionary Address (20 mins)

Keynote Address (10 mins)



Address by Chief Guest (10 mins)

Launch of Pakistan Islamic Finance Report in collaboration with IRTI (10 mins)

Networking Co�ee Break

Presentation on Key �ndings of Pakistan Islamic Finance Report

Discussion on Pakistan Islamic Finance Report

Session Chair

Moderator

Presentation of Research Papers/Case Studies

Session Chair

Research Papers

WORLD ISLAMIC FINANCE FORUM(WIFF) 2016AGENDA

05 September, 2016


05 September, 2016“The E�ect of Implicit Market Barriers on Stock Trading and Liquidity: The Case for Islamic Finance”By Asem Alhomaidi, M. Kabir Hassan and William J. Hippler

“Financial Innovation, Over-subscription and Financial crises in Islamic Finance” By Saad Azmat, Haiqa Ali and M. Kabir Hassan

“Does Innovation in Sukuk structure create Value? A study of post-crisis Sukuk wealth e�ects in Malaysia”By Ziyaad Mahomed, Shamsher Mohamad and Mohamed Ari�

“Sukuk for the �nancing of Non-Revenue Water Management: Malaysia as a Case Study” By Kulsanofer Syed Thajudeen


Mr. Najmul Hassan, Director FIDD, Islamic Corporation for the Development of the Private Sector (ICD)

Mr. Junaid Ahmed, Chief Executive O�cer, Dubai Islamic Bank, Pakistan

Mr. Mohamed Rafe Mohamed Haneef, Chief Executive O�cer, CIMB Islamic Bank

Mr. Ashar Nazim, Partner Global Islamic Banking Center, Ernst & Young

Dr. Hatim El Tahir, Director Islamic Finance Group, Islamic Finance Knowledge Center Leader, Deloitte & Touche

Mr. Irfan Siddiqui, President & CEO, Meezan Bank

Dr. M. Kabir Hassan, Professor of Finance, University of New Orleans

“Towards Greater Financial Inclusion of Refugees in the Fourth Industrial Revolution: A Risk-sharing Based Islamic Financial Solution”By Abbas Mirakhor, Alaa Alaabed and Ali Alaabed

“Role of Takaful in Raising Higher Education Enrolment in Pakistan”By Muhammad Imran and Mohsin Khawaja

“Islamic �ukuk Default and Issues in Their Resolution: The Case of Villamar �ukuk”By Salman Syed Ali

“Case Study: Developing an Islamic co-operative model into an ethical, risk-sharing, �ntech solution” By Ziyaad Mahomed

Mr. Ahmed Ali Siddiqui, Director, CEIF - IBA

1:30pm-2:30pm

2:30pm-3:10pm

3:10pm - 4:25pm

4:25pm - 4:45pm

4:45pm – 6:00pm

6:00pm – 6:15pm

Lunch & Prayer Break


Innovation, Technology and Creating Reach

Key Topics- Launch Market for Global Islamic Product

Innovation’ – Spotlight on Pakistan

- Are Islamic banks geared for digital disruption?

- Islamic Bank of Future

Session Chair



Session Chair

Research Papers

Wrap-up Session -Summarizing key takeaway points and highlights of Day 1 – WIFF 2016

Mr. Zafar Hijazi, Chairman, Securities Exchange Commission of Pakistan (SECP)

Prof. Datuk Dr. Syed Othman Alhabshi, Deputy President Academic, INCEIFDr. Zeeshan Ahmed, Associate Professor, Karachi School Business and Leadership (KSBL)

Dr. Muhammad Imran Ashraf Usmani, Group Head Product Development & Shariah Compliance and Resident Shariah Board Member, Meezan Bank

Mr. Ijlal Alvi, Chief Executive O�cer, International Institute of Financial Markets

Mr. Ashar Nazim, Partner Global Islamic Banking Center, Ernst & Young

Mr. Hasan A. Bilgrami, President & CEO, BankIslami Pakistan

Mr. Zubair Haider Shaikh, Head of Corporate Finance & Investment Banking & Cash management. Dubai Islamic Bank Pakistan.

Mr. Mohammad Shoaib, CEO, Al Meezan Investment Management Limited

Mr. Noor Abid, AAOIFI BOT Member; Member of Board of Directors, Kuwait Finance House Group; Member of Board of Directors of a number of Islamic Financial Institutions, Worldwide

Prof. Datuk Dr. Syed Othman Alhabshi, Deputy President Academic, INCEIF

“The challenges and opportunities for Takaful industry in Pakistan” By Sanaullah Ansari

“Investment opportunity set, corporate governance practices and performance of Modarabas”By Saqib Sharif

“Towards a Robust Shariah Screening Criterion for Stocks”By Farrukh Habib

Mr. Bilal Rasul, Executive Director, Chairman Secretariat and Islamic Finance Department, SECP

Mr. Akif Saeed, Commissioner, SECP

Mr. Ghulam Muhammad Abbasi, Director Islamic Banking, State Bank of Pakistan

Mr. Mohammad Shoaib, Chief Executive O�cer, Al Meezan Investment Management

Mr. Muhammad Nasir Ali Syed, Chief Executive O�cer, Pak Qatar Family Takaful

9:00am - 9:35am

9:35am - 10:45am

10:45am – 11:15am

11:00am - 1:30pm

OPENING

Recitation from Holy Quran (5mins)




Infrastructure Development for Stimulating Growth

Key Topics- Standardization and harmonization

- Taxation, Transparency and Accounting Disclosures

- Incentives for Islamic capital market development

- Is “CPEC” making the paradigm shift?

Session Chair


Parallel Session

Presentation of Papers

Session Chair

Research Papers

Policy Dialogue on Islamic Capital Markets and Takaful


06 September, 2016

Mr. Muhammad Hanif Jakhura, Chief Executive O�cer, Central Depository Company

Muhammad Shoaib Ibrahim, Chief Executive O�cer, First Habib Modaraba

Mr. Sohail Ahmed, Head of General Takaful, Jubilee General Insurance

Mr. Ejaz Ali Shah, Managing Director, Pakistan Mercantile Exchange

Mr. Nadeem Naqvi, Managing Director, Pakistan Stock Exchange

Mr. Muhammad Lukman, Chief Executive O�cer, National Clearing Company of Pakistan

Mr. Muhammad Farhan ul Haq Usmani, Senior Vice President & Head of Shariah Audit & Advisory, Meezan Bank

Dr. Mohamed Eskandar Shah Mohd. Rasid, Deputy Dean, School of Graduate Studies, INCEIF

“Will Islamic Banking make the World Less Risky? An Empirical Analysis of Capital Structure, Risk Shifting and Financial Stability”By Moazzam Farooq, Sweder van Wijnbergen and Sajjad Zaheer

“Do Islamic equity investments o�er any hedging bene�ts?”By Dawood Ashraf and Mohsin Khawaja

“Introducing Islamic Finance in Unchartered Economy: The case of Canada”By Baharom Abdul Hamid, Mohsin Ali, Wajahat Azmi and Zaheer Anwer

“Income Structure of Islamic and Conventional Banks in OIC countries”By Mohsin Ali, Mansor H. Ibrahi and Eskander Mohd. Shah

“Shariah Appraisal on Rental Rate Index Based Pricing and Pro�t Rate for Islamic Home Financing”By Asmadi Mohamed Naim, Norhayati Ahmad, Zuriah Abdul Rahman and Salina Kassim

“Carbon Credits Trading and its Role in Infrastructure Power Purchase Agreements from a Shariah Perspective”By Shakir Siddiq Jakhura


Mr. Syed Samar Hasnain, Executive Director, Development Finance Group, State Bank of Pakistan

Mr. Ariful Islam, Deputy CEO & Executive Director, Meezan Bank

Prof. Dr. Ahmed Musa Wang Yongbao, Director of Institute of Islamic Law, Economics, and Finance, Northwest University of Politics and Law, China

Mr. Rizwan Ata, Head Islamic Banking, Bank Alfalah

11:15am - 1:00pm

1:00pm - 2:00pm

2:00pm – 3:00pm

Moderator


Session Chair

Research Papers

Lunch & Prayer Break

The Great Debate: Are Islamic �nancial institutions working towards �nancial inclusion and shared prosperity?

• Is the purpose of existence of Islamic �nancial institutions clear to the global community?

• How to touch 50 million consumers in Pakistan? 1 billion globally?

• Demystifying social capital


06 September, 2016


Prof. Datuk Dr. Syed Othman Alhabshi

“Benchmarking Maqasid al-Shari’ah: Index and its Performance in Select OIC Countries”By Alaa Alaabed, Hossein Askari, Zamir Iqbal and Adam Ng

“Stabilizing Economic Growth through Risk Sharing Macro Instruments”By Syed Aun R. Rizwi and Shaista Arshad

“Do Political Connections and Shariah Compliance impact Pro�tability of listed �rms? - A Case Study of Malaysia”By Irum Saba, Mohamed Ari� Abdul Kareem and Mohamed Eskandar Shah Mohd Rasid

“Islamic Finance in the age of Black Swans and Complexities of a Multipolar World”By Abbas Mirakhor and Mughees Shaukat



Prof. Datuk Dr. Syed Othman Alhabshi, Deputy President Academic, INCEIF

Mr. Syed Samar Hasnain, Executive Director, Development Finance Group, State Bank of Pakistan

Mr. Irfan Siddiqui, President & CEO, Meezan Bank

Mr. Mehmood Arshad, Executive Vice President, Pak-Qatar General Takaful

Dr. Muhammad Imran Ashraf Usmani, Group Head PDSC and Resident Shariah Board Member, Meezan Bank

Mufti Irshad Ahmad Aijaz, Chairman Shariah Supervisory Board, BankIslami Pakistan

Dr. Farrukh Iqbal, Dean and Director, IBA


3:00pm – 4:15pm

4:15pm – 4:30pm

4:30pm – 5:15pm

5:15pm - 5:30pm

5:30 – 5:45pm

Session Chair


Session Chair

Research Papers

Co�ee Break

Concluding Power Session with Islamic Finance Visionaries

Closing Note

Wrap-up Session - Summarizing key takeaway points of WIFF 2016


06 September, 2016

centre for excellence in islamic finance institute of...

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