Chief Justice of Malaysia to Deliver Keynote - Survey findings on Legal and Shari'ah Issues in Islamic finance to be discussed at IFSB Seminar

Kuala Lumpur, December 21, 2006 – Chief Justice of Malaysia, Tun Dato’ Seri Ahmad Fairuz Dato’ Sheikh Abdul Halim, will deliver a Keynote Address to the delegates of the Seminar on Legal and Shari’ah Issues in Islamic Finance on 28th March 2007. He will be joined by William Blair of Three Verulam Buildings, UK and Dr. Zeti Akhtar Aziz, Governor of Bank Negara Malaysia and Islamic Financial Services Board (IFSB) Council Chairperson for 2007. The IFSB is organising the Seminar with the support of the Bar Council of Malaysia.

The Seminar aims to discuss findings of five Surveys which the IFSB has commissioned five international firms to carry out. The Surveys are:

■ Effectiveness of the Legal Framework for the Islamic Financial Services
■ Comparative Study on Insolvency Laws in Islamic Finance
■ Comparative Study on Securities Laws in Islamic Finance
■ Comparative Study on Trust Laws in Islamic Finance
■ Survey on Shari'ah Board Across Jurisdictions

Chairpersons, speakers and discussants from various fields of the industry will be sharing their knowledge and expertise in the Seminar. They are:

■ Thomas Baxter , General Counsel & Executive Vice President, Federal Reserve Bank of New York
■ Nagavalli Annamalai , Lead Counsel, Finance Private Sector and Infrastructure Development, The World Bank
■ Stefan M Gannon , General Counsel, Hong Kong Monetary Agency
■ Mahesh Uttamchandani , Senior Counsel, Insolvency & Creditor Rights, The World Bank
■ Charles Proctor , Partner, Banking & Financial Services, Bird & Bird, USA
■ Professor Barry A.K Rider , Development Studies Committee, University of Cambridge
■ Professor Simon Archer , University of Surrey, UK
■ Sheikh Yusuf Talal DeLorenzo , Shari’ah Supervisor, Yasaar Ltd, London
■ Andrew Campbell , Director, School of Law, University of Leeds, UK
■ Michael J.T. McMillen , Partner, Dechert LLP, New York, USA
■ Dato’ Dr Nik Norzrul Thani , Partner, Zaid Ibrahim & Co, Malaysia
■ Gopal Sundaram , Director, Assistant Governor, Bank Negara Malaysia
■ Hamid Yunis , Partner, Taylor Wessing, UK
■ Dr. Mohd Daud Bakar , President & CEO, International Institute of Islamic Finance Education, Malaysia
■ Dr. Syed Musa Alhabshi , Principal Consultant, Amanie Business Solutions Sdn. Bhd.

Insights gained from these results and discussions aim to shed light on some of the challenges and issues of concern faced by the legal and financial practitioners involved in Islamic finance. The Seminar will especially benefit those firms, companies and institutions operating across jurisdictions.

More information on the Seminar is available at www.ifsb.org/legal2007

The IFSB is an international organization with the mandate to promote and enhance the soundness and stability of the Islamic financial services industry through the development of prudent and transparent industry standards, undertaking research and studies as well as conducting information dissemination activities. The works of the IFSB complements that of the Basel Committee on Banking Supervision, International Organization of Securities Commissions and the International Association of Insurance Supervisors. The IFSB started operations in 2003 with nine founding members comprising the Central Banks of Bahrain, Indonesia, Iran, Kuwait, Malaysia, Pakistan, Saudi Arabia and Sudan, and the Islamic Development Bank. The Secretariat of the IFSB is located in Kuala Lumpur.

The IFSB Council has recently approved the admission of 16 new members to the organisation. The IFSB now has 110 members comprising 27 regulatory and supervisory authorities, 5 international intergovernmental organizations and 78 market players from 21 countries. More information on the IFSB may be viewed at www.ifsb.org

Media contact:
Siham Ismail
Islamic Financial Services Board
Email: siham@ifsb.org
Tel: 6 03 2698 4248 ext: 119
Fax: 6 03 2698 4280

This release was published on openPR.