Epicentre speaks with Dato' Mohd Redza Shah Abdul Wahid, President of AIBIM, on the Global Islamic Finance Forum 2014 which will be held this year in Kuala Lumpur from 2-4 September 2014.
Q1
This year marks the fourth instalment of the bi-annual Global Islamic Finance Forum (GIFF). The theme this year is "A Marketplace for Global Linkages", could you explain this year's theme.
A1
GIFF 2014 aims to provide a global marketplace for greater level transactions as well as to create in-roads for business networking opportunities for the cross-regional transactions in both emerging and developed markets by bringing together key industry players from the Islamic finance and non-Islamic finance communities.
Q2
How will GIFF 2014 be different and what has been the driving force behind this new development or direction?
A2
The industry players via AIBIM have been mandated to drive this Forum. The Forum will accommodate to more industry driven discussions which will provide highlight on the key issues with practical solutions to facilitate the industry players in facing Islamic financial challenges globally. Furthermore, in view of the growing global interest in Islamic finance, GIFF 2014 is expected to draw interest from local and international participants especially from the Middle East, European and the ASEAN countries.
Q3
Why is GIFF important to the development of Islamic finance globally?
A3
Taking cue from its predecessors in 2007, 2010 and 2012, GIFF 2014 will continue to serve as a platform for the financial industry players, business community and market participants to network, build relationships and explore potential business deals. Not only it gathers the best minds in sharing knowledge and experience paving a future direction for the next generation of Islamic bankers, but it has also garnered innovations for the development of product and service offerings as well as best practices which are internationally recognised and accepted.
Q4
What does AIBIM hope to achieve for Malaysia's Islamic finance marketplace?
A4
The Malaysian Islamic financial system is open to the world and continues to transform significantly in its robust regulatory framework, in particular with the recent introduction of the Islamic Financial Services Act 2013. Going forward, we hope to see the Islamic financial sector continue to grow to be at the forefront of the international Islamic finance. This will not only contribute to Malaysia's overall economic growth but also enhance its economic and financial linkages with other emerging economies and the international financial centres by offering its expertise and capabilities in innovation and deals in Islamic finance.
Q5
What are some of the key highlights in the programme this year that global participants, regulators, issuers and investors can expect?
A5
The Forum has multi-track programmes that will be held to provide platforms for cross-regional engagements amongst regulators, scholars and financial industry players during the Forum such as Regulators Forum, International Islamic Capital Markets Forum, Islamic Banking & Finance Conference and Forum, Executive Master Class, Islamic Microfinance Financial Inclusion Forum, Islamic Venture Capital & Private Equity Symposium, ISRA Colloquium, Green Financing Dialogue, CEO Dialogues, Breakfast Networking and Networking Cocktail. It has something for every level of the global financial community.
Q6
How can the global financial community get more information on/ register for GIFF2014?
A6
For further information, please visit the GIFF 2014 site at www.aibim.com/giff2014/ or contact our personnel, Mr. Addellan Jusop (addellan@aibim.com), Mr. Adil Adra (adil@aibim.com) or Mr. Anwar Chamil (anwar@aibim.com). Alternatively, you may wish to call us at +603-20268002/8003.