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Monday, December 22, 2014  

Oman Islamic Economic Forum to be held in Dec.
By Staff Reporter

MUSCAT The first Oman Islamic Economic Forum 2011 (OIEF) will be held at the Al Bustan Ritz Carlton Muscat Hotel on December 17 and 18.

Organised by Amjaad Development, the event will be the first international conference of its kind in the Sultanate.

The OIEF will bring together leading practitioners, prominent heads of state and opinion-making academicians and introduce best practices in Islamic finance to Omani authorities and other relevant players, while discussing key issues in Islamic finance. The conclave will also provide an opportunity for interested foreign stakeholders to network with key Omani players and establish long lasting relationships.

Tun Abdullah Bin Haji Ahmad Badawi, former prime minister of Malaysia will be an important keynote speaker at the OIEF.

Bank Nizwa will be the strategic partner for OIEF.

Bank Muscat and Al Madina Financial and Investment Services Company will be the main sponsors of the event. CIBAFI, Islamic Finance News and CNBC Arabia will also take part in the event.

“We want to develop Bank Nizwa into a new model for Islamic banking to merge world-class professional performance with faith-based social responsibility to the core of our business,” said Ahmed Saif Al-Rawahi, chairman of the founding committee of Bank Nizwa.

“We have entered into a strategic partnership with Amjaad Group to hold the OIEF because we believe that our commitment to Shariah-based financial services and Amjaad’s organisational professionalism will make a success of the forum, create broad awareness of Islamic finance in the Sultanate, showcase our country’s potential to the industry and lead to new trends in Islamic banking,” he added.

According to Khalid Hilal Alyahmadi, chairman of Amjaad Development, after the recent global financial crisis, more and more emerging economies are looking to explore Islamic finance, paving the way for commercial opportunities for local corporations and international banks. Islamic banking is only one part of the Islamic economic structure, but is definitely a good start. Gradually, and in accordance with a well-defined and structured plan, the entire Islamic economic infrastructure can be put in place”.

On selecting Oman as the venue of the forum, Alyahmadi said that the Sultanate had the potential to become a regional centre of excellence for Islamic finance, “but we shall start from the level where others have reached already and not from scratch.”

A highlight of the OIEF will be the annual global Islamic finance awards (GIFA), which as based on an objective proprietary methodology developed by Edbiz Consulting.

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