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3rd Islamic Wealth Management Event goes Carbon Neutral

· Michael Gassner Consultancy Ltd, organises the 3rd Islamic Wealth Managenent Event in Geneva on 24+25 April 2007
· The organizers have partnered with Carbonfund.org to offset the CO2 emissions caused by the event
· New investment opportunities created by carbon regulation like the Kyoto protocol and EU Emissions Trading Scheme will be explained by Anthony Hobley, Chairman London Climate Change Services and analysed for Sharia implications by Michael Saleh Gassner, Islamic finance consultant
· The event is directed at the Islamic Private Banking industry to enhance knowledge, discuss trends and get the tools and strategies that work for Muslim high net worth clients

LONDON, February 25, 2007 – Michael Gassner Consultancy Ltd has organised the third annual Islamic Wealth Management event in Geneva at the Hotel du Rhone on 24 & 25 April 2007. The event has grown year by year and offers intimate insights into the Islamic Private Banking industry, its differences and commonalities with the conventional industry.

For the first time, the carbon emissions caused by the delegates and speakers will be offset. For example air flights are a major source of carbon dioxide, widely perceived to cause climate change. The organiser has partnered with Carbonfund.org in order to make it the first Islamic finance event to go carbon neutral by investing in projects that reduce carbon emissions by an amount equal to the emissions caused by the event itself.

Carbonfund.org is a non profit organisation that educates the public about the dangers of climate change and makes it easy and affordable for individuals, businesses and organizations to reduce their climate impact. Eric Carlson, executive director of Carbonfund.org explains: “We are delighted to help offset emissions and reduce climate impact for conferences and events, just like we help companies or even families to take voluntary measures to act against climate change.”

Beyond offsetting the carbon emissions from the event itself, the carbon allowance market will be discussed by Anthony Hobley, Chairman of the London Climate Change Services, the representative body for the UKs Climate Change Finance and Services business sector. One of its key objectives is to promote and build upon Londons emerging position as the centre for multi billion Euro global carbon market. Mr Hobley is also a Director of the specialised merchant bank Climate Change Capital based in Mayfair, London.

Investment banks like Morgan Stanley and Goldman Sachs are investing currently substantial amounts to enter the market of this entirely newly created asset class set by regulatory means. Michael Saleh Gassner will present views on the Sharia compliance regarding related investment products based on carbon markets, because as he says: “We see a fully new asset class, created to improve and protect the environment in an economically efficient way – how it can be promoted for and by the Islamic finance industry; what are the challenges in regard to the Islamic principles – this needs to be brought forward urgently.”

Carbon is just one of the outstanding topics researched and identified for the Islamic finance industry. The entire program comprises challenging lectures on traditional and alternative asset classes, on specifics of Islamic financial planning, market strategy and last, but not least, philanthropy.

Note to Editors:
Islamic finance is considered a growth industry. Although statistics are not well proven, most experts estimate a size of USD 500 billion plus x as a reasonable figure. The main financial markets dealing in these matters are London, Bahrain, Dubai, Kuala Lumpur and Singapore. Geneva remains a distinguished place where many Middle East based investors let companies manage their assets – conventionally and increasingly Islamically. Experts’ estimations are around USD 200 bn alone in Assets under Management from Mideast clients and an increasing percentage of these funds are asked to be managed Islamically. The main requirements are upholding certain industry exclusions, avoidance of bank interest, and legal uncertainties in contracts. The wider objectives of Islam in investments are similar to the sustainability concept and includes stewardship for mankind and environment, which we received in trust by God.

Issued on behalf of Michael Gassner Consultancy Ltd. Contacts for interviews can be given. We appreciate to support the media in their research regarding Islamic finance, Sustainability and related topics.

Keywords: Islamic Private Banking, Islamic Wealth Management, Islamic Financial Planning, Carbon, Philanthropy

ABOUT CARBONFUND.ORG

Carbonfund.org is a national non-profit organization leading the fight against climate change. Carbonfund.org educates the public about the dangers of climate change and makes it easy and affordable for individuals, businesses and organizations to reduce their climate impact. Carbonfund.org is reducing the threat of climate change by promoting cost-effective carbon reductions and supporting renewable energy, energy efficiency and reforestation projects globally that reduce and offset carbon dioxide emissions. Carbonfund.org works with over 100 corporate and non-profit partners including the National Wildlife Federation, Dell, IMD, Lancôme, Ovation Travel Group and Working Assets. Learn more at www.carbonfund.org.

ABOUT LONDON CLIMATE CHANGE SERVICES (LCCS)
LCCS promotes the shared interests of leading UK businesses. Supporting organisations include academic institutions, engineering firms, consultancies, legal firms, accountants, verification bodies, market traders, commodity brokers, and information technology providers. These companies offer services to the growing global market for the management of climate change responsibilities. Members of the LCCS provide highly skilled jobs and value added to the British economy.
The London Climate Change Services Group has been established with three principal aims, namely:
1. To support the development of an effective carbon market as a weapon against climate change
2. To provide UK expertise to the development of carbon markets
3. To promote London as the International Centre of the Climate Change Services Industry

http://www.londonclimatechange.org

ABOUT MICHAEL GASSNER CONSULTANCY LTD.
Headquartered in London, United Kingdom, Michael Gassner Consultancy Ltd. is a leading advisor for Islamic banking & finance. The work is focussed on publishing, training and marketing advice. Structuring and strategy consulting is done via partner firms. The firm organises the Annual Islamic Wealth Management Event in Geneva, created a major knowledge resource in the web and publishes the free of charge newsletter “IslamicFinance.de – Executive News”, which is read widely all over the Islamic finance community.

http://www.islamicfinance.de/
http://www.islamicwealthmanagement.com

For further press information please contact:

Michael Gassner Consultancy Ltd.
68 Lombard Street
London, EC3V 9LJ, United Kingdom
Phone: +44 207 868 1717
Fax: +44 207 868 1817
http://www.islamicfinance.de

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