ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) and the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) are hosting first international conference on Islamic capital markets.

The one-day conference will be held on May 29, 2023, at a local hotel in Islamabad, and is being organised in cooperation with key industry players in the non-bank financial sector and capital market infrastructure institutions.

The AAOIFI is a Bahrain-based, renowned global standard-setting body, entrusted with ensuring the soundness and stability of the Islamic financial services industry, including banking, capital market, and insurance/takaful, in accordance with Shariah.

So far, it has issued more than 115 standards in the areas of Shariah, accounting, auditing, ethics, and governance, which are adopted / adapted in different shape and form in no less than 47 jurisdictions and 41 countries globally.

The subject conference aims to define the future direction for the Islamic capital markets in light of the recent judgement of the Federal Shariat Court (FSC) as well as the fast-changing dynamics of the market.

Given the rising need for expansion of Islamic capital markets on a global scale, the conference has been themed “ICM developments with ecosystem completion: innovation, growth, and transformation.”

Eminent speakers, policymakers, and experts of the global Islamic financial services industry from Bahrain, Malaysia, Saudi Arabia, Turkiye, UAE and UK are expected to participate in the conference. Leading players from the local stock market, the mutual fund industry, non-banking financial institutions, and representatives from the takaful industry from Pakistan will attend the conference.

Attendance to the conference is free of charge. Registration for the conference is now open, and participants can get themselves registered using the following link: https://bit.ly/3AbQem8.

Copyright Business Recorder, 2023