Press release
SUKUK - The Growing Phenomena Attracts Issuers, Private Banks & Major Ratings Agencies to Annual Forum in Dubai, UAE
The Forum Moderator, Alberto Brugnoni, who runs ASSAIF, an Islamic finance-tailoring consultancy out of Italy will be moderating the event which will be hosting over 200 key institutions in from the SUKUK issuance industry.
“This event looks to be a key bookmark in the evolution of the SUKUK markets, and should result in constructive and innovative debate. It is precisely this type of high level dialogue that is needed to further develop this growing Industry”, remarked Ibrahim Mardam-Bey, Director & Executive Vice President of BEMO Securitisation, a notable speaker and supporter of the Forum.
The Sukuk industry has experienced a phenomenal growth over the last 5 years. From practically being non-existent a decade ago the industry is now worth over $100 billion. There is over $800 billion of reserves that needs to be invested in accordance with Shariah principles and the Sukuk market has been reaping the benefit of this liquidity. The variety and scale of the projects that can be financed utilizing this model has ensured its continued buoyancy and there is over $22 billion worth of issuances planned for 2007.
This popular mode of finance has now crossed over beyond the boundaries of Islamic Jurisdictions. In 2004 the German State of Saxony issued a Sukuk in order to attract finance from the Middle East to the region and last year the first U.S. Sukuk was issued for the financing of the East Cameron Gas Field. Furthermore with the Central Bank of Japan launching there own Sukuk this year and the imminent changes in taxation laws in the U.K. to encourage Sukuk issuance, this mode of finance is set to become a global phenomena.
Sukuk-Exploring the Phenomena will be the first international event dedicated to exploring this exciting market and will gather the experts and practitioners that have pioneered and driven this industry so far. Admission is for members only. To register for your free membership please visit the website at www.middleeastbusinessforum.com/sukuk for more details.
he Middle East Business Forum is a gathering of like minded professionals and business people who have a focus towards participating in the vibrant combined economy of the Middle East region.
Our themed events cover a range of industries, from Islamic Finance to the Oil & Gas sector, from Insurance to Real Estate. The aim always is to provide a power forum for business networking, where deals are done and business flourishes.
"We look forward to welcoming Middle East Business Forum Members to the next instalment of the series focusing on the hugely phenomenal growth of the Sukuk market to be held in April 2007, Dubai "
Reza Adil
Partner
Middle East Business Forum
36 Chippenham Mews,
Westminster,
London W9 2AW,
UK
Tel: +44 (0)20 7286 6361 or +44 (0)20 7286 6523
Fax: +44 (0)8707 668 387 or +44 (0)20 7726 7336
Email: reza@middleeastbusinessforum.com
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