IAI Review.org » Alternative Investments, Family Office and Wealth Management, Hedge Funds, Islamic Finance, Private Equity, Real Estate and Property » The World Comes to Toronto: The Growth and Potential of Islamic Finance will be on display
The World Comes to Toronto: The Growth and Potential of Islamic Finance will be on display
Politicians, Bankers, Real Estate Agents, and members of the global financial community will convene in Toronto at the inaugural Usury-Free Association of North America (UFANA) conference on March 30th and March 31st at Sheraton Centre Hotel in downtown Toronto.
Leaders from the world’s business community are descending upon Toronto for a two day conference sure to satisfy and peak the insatiable appetite for Islamic Finance across the globe.
The conference comes on the heels of three major studies: Islamic Finance in North America 2009 report by Yasaar Media, Zawya Sukuk Report and the January 2010 release of the Canada Mortgage and Housing Corporation (CMHC) study that notes most forms of Islamic financing, including Shari’ah-compliant mortgages, would pose no concluded hurdles if widely offered in Canada. The latter report, by the law firm Gowling, Lafleur Henderson LLP, found no legal impediment to the practice becoming more common. “Islamic financial products should not present any particular difficulties under Canadian accounting standards,” states the study.
It also noted that Islamic funding instruments are widely available throughout the world, but even in Muslim countries, often comprise a minority share. Today, Canada’s Muslim community has taken the first tentative steps to privately offering Shari’ah-compliant mortgage-like products, but the practice is still in its infancy. Rather, it suggests that private entities would be open to pursue offering the unique financial services to Canada’s Muslim community, believed to number about 700,000, if they wish.
The report was commissioned last year at a time when efforts were underway by Muslim financial firms to have one or more of Canada’s large banks issue Shari’ah mortgages.
Guy David a partner at Gowling, Lafleur Henderson LLP will speak at the conference, along with: Majid Dawood, CEO of Yasaar Limited; Blake Gould, editor of Islamic Finance in North America 2009; Najeeb Rana of Erest &Young Dubai, supporters of the Zawya Sukuk Report; Brian Koscak, Partner, Cassels Brock and Omar Kalair, President and CEO, UM Financial – both of whom contributed to the report.
Among the topics and seminars that will be held at the conference include:
- Understanding how to create and manage Shari’ah-compliant products
- Learning about the decision-making process of approving Islamic products and institutions
- Discovering strategies for structuring, issuing and investing in Sukuk (Islamic bonds)
- Addressing liquidity management problems within Islamic commercial and retail banks
- Examining the suitability of Canadian investment products developed for large infrastructure projects for Islamic investors
- A unique insight into the idea of an “Alternative Banking System”
- Discussions on other usury-free products designed by the Buddist, Hindu and Christian communities, such as the Dow Jones Dharmic Fund based on Buddhist and Hindu principles
The conference will feature over 30 speakers from across the world. Among the confirmed speakers are:
- Sheikh Nizam Yaqoobi, Shariah Scholar, Bahrain
- Rev. Lindsay G. King, Family Life Foundation, Canada
- Sheikh Yusuf Talal DeLorenzo, Shariah Scholar, USA
- Dr. Nejatullah Siddiqui, Islamic Economist, USA
- Rushdi Siddiqui, Global Head of Islamic Finance, Thomson Reuters, USA
- Dr. Mohammad Fadel, Assistant Law Professor, University of Toronto, Canada
- Dr. Walid Hejazi, Rotman School of Management, University of Toronto, Canada
- Majid Dawood, CEO, Yasaar Limited, Dubai, UAE
- Adnan Haider, Treasury & Investments Division, Abu Dhabi Commercial Bank, UAE
- Saad Rehman, Scotia McLeod, Scotia Bank, Canada
- Dr. Nazim Ali, Director, Islamic Finance Project, Harvard Law School, USA
- Stephen Ranzini, President & Chairman, University Bank, USA
- Omar Kalair, President & CEO, UM Financial, Canada
- Kamal Hassan, Structured Products, Kuwait Finance House, Bahrain
- Talib Mumtaz Ali , Structured Finance , Dubai Islamic Bank, UAE
- Hooman Sabeti, Allen & Overy LLP, Singapore
The conference will be held on March 30th & 31st, 2010 at the Dominion Ballroom of the Sheraton Centre Hotel at 123 Queen Street West in downtown Toronto. The conference has limited seating.
For more information on the organization or on registration and sponsorship packages please visit: www.UFANA.org . For Media requests please contact: conference@ufana.org
Quick Facts:
- Some of the world’s largest banks will present at the conference
- Represented banks include: Kuwait Finance House, Islamic Development Bank, Dubai Islamic Bank, Qatar Islamic Bank, Abu Dhabi Commercial Bank
- These banks represent the top 20 banks listed in the Banker Magazine’s list of top 500 institutions
- Represented banks have over $100 Billion in assets
- Canada has been identified as destination for investment
- Kuwait Finance House recently announced a $250 Million Real Estate fund for Canada
- Delegates will represent banks and institutions from Bahrain, UAE, Saudi Arabia, Qatar, Singapore, Malaysia, Pakistan, Sri Lanka, Italy, USA and the UK
It is in : Alternative Investments, Family Office and Wealth Management, Hedge Funds, Islamic Finance, Private Equity, Real Estate and Property · Tags: Islamic Finance, Ufana Conference
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