State Bank of Pakistan (SBP) Governor, Dr Shamshad Akhtar will be a keynote speaker in the opening session of the Second Islamic Banking & Money Market Conference 2006, on November 8, said a press release on Tuesday.
The Second Pakistan Islamic Banking & Money Market Conference 2006 commenced in Karachi on Tuesday. Azhar Iqbal Qureshi, Adviser to the SBP Governor, made inaugural address. Promoted by Islamic Capital Partners in association with the Dubai International Financial Center (DIFC), the Conference promises to bring together experts, practitioners, financial institutions, corporates, regulatory authorities, investors and Sharia' scholars to discuss the roadmap for growth of Islamic Finance.
Islamic Finance is a global phenomenon with growth rates in excess of 10 percent. In Pakistan, Islamic Banking has a penetration of two percent in the overall banking industry - an admirable statistic considering Malaysia took in excess of 10 years to reach this level. Islamic Finance is purported to provide the impetus for future economic growth, as investors from the GCC will increasingly focus on investing through Sharia' compliant modes of finance.
The programme includes specialised sessions on Liquidity Management, Private Equity, Housing Finance, and Institution Building. Key representatives from Saudi Economic & Development Company (Sedco), Dubai International Financial Exchange (DIFX), and Jefferies International Limited are visiting Pakistan in the backdrop of this Conference to look for avenues of investing in a country, which has become "a destination of choice" for GCC investors.
Dr Ishrat Hussain, ex-governor SBP & currently Chairman National Commission on Government Reforms, will make a special address before the conference promoters (Islamic Capital Partners) conclude with their recommendations.-PR
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