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Islamic Finance – a new business model for finance centres?

On 28 October 2014 an international conference on Islamic Financial Services and Sustainability will be taking place in Liechtenstein for the first time. At the invitation of the University of Liechtenstein and the Liechtenstein Financial Market Authority, highly regarded international experts will assess the potential Islamic finance offers the region.


On 28 October 2014 an international conference on Islamic Financial Services and Sustainability will be taking place in Liechtenstein for the first time. At the invitation of the University of Liechtenstein and the Liechtenstein Financial Market Authority, highly regarded international experts will assess the potential Islamic finance offers the region.


As a result of globalisation, increasingly stringent regulations, changing customer requirements and new forms of information and communication technology, the financial industry is undergoing drastic changes. As a financial centre Liechtenstein looks to the international markets, and so likewise finds itself in a process of transformation. Ongoing innovation, and the examination and exploitation of new business areas, are two important pillars for the successful future strategy of the region. The University of Liechtenstein and the Liechtenstein Financial Market Authority believe they have identified a new field of business with suitable potential in financial services that comply with Islamic law. This is why they have organised the first Liechtenstein Islamic Finance Conference, to be held at the SAL hall in Schaan on Tuesday, 28 October 2014, from 9.00 am to 4.45 pm. The conference will be conducted in English with simultaneous German translation; in addition, an Arabic-speaking interpreter from the Diction company will be attending the event.



Moving spirits of the conference: Dr Urs Roth-Cuony of the Financial Market Authority and Professor Dirk Zetzsche of the University of Liechtenstein 


A future model for Liechtenstein?

Liechtenstein’s expertise as a highly regarded finance centre for private and family assets, with competitive legislative arrangements for trusts, foundations and finance generally, coupled with its decades of experience in long-term investment, forms a highly promising basis for Islamic financial services as a field of business. On the occasion of the first Liechtenstein Islamic Finance Conference, the Liechtenstein Financial Market Authority and the Propter Homines Chair for Banking and Securities Law of the University of Liechtenstein will examine the challenges and opportunities that Islamic financial structures and sharia-compliant financial brokering holds out for the region. 



Sheikh Mohamed Ali Elgari, Professor of Islamic Economics at the King Abdul Aziz University of Jeddah, and Jaseem Ahmed, Secretary-General of the Islamic Financial Services Board (IFSB)


International experts attending


Experts with an established reputation from international finance centres like Dubai, Bahrain, Singapore, London and Zurich have accepted invitations to attend the one-day conference. They will come up with answers to questions of burning interest – how can Liechtenstein benefit from Islamic finance, and how can Islamic investors and customers benefit from Liechtenstein in their turn? They will explain the foundations of Islamic-compliant financial services and look into potential business opportunities for players on the financial market. Among the speakers on the guest list are Sheikh Mohamed Ali Elgari, Professor of Islamic Economics at the King Abdul Aziz University in Jeddah, and Jaseem Ahmed, Secretary-General of the Islamic Financial Services Board – both of them authorities with a worldwide reputation. 


Regional relevance

The conference will be opened by His Highness Prince Nikolaus of Liechtenstein, and will be moderated by Dr Urs Philipp Roth-Cuony, President of the Liechtenstein Financial Market Authority (FMA) and Professor Dirk Zetzsche, holder of the Propter Homines Chair at the University of Liechtenstein. The conference has received sponsorship and support from VP Bank, First Advisory Group, the Liechtenstein Banking Association and the Liechtenstein Insurance Association. The Liechtenstein Global Trust (LGT) is acting as the principal sponsor.
   





Liechtenstein Islamic Finance Conference
Liechtenstein, SAL Saal am Lindaplatz in Schaan
Tuesday, 28 October 2014, 09.00 am – 4.45 pm
The conference will be followed by an aperitif.
The conference will be conducted in English, with simultaneous translation provided by the Diction company.
Further information may be found at www.uni.li/islamicfinance