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9:00am – 9:05
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Welcoming Remarks – Dr. M. Kaiseruddin, Chairman of Iman Fund & Chairman of CIOGC, host city.
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9:05am to 10:00am
Aijaz Hussein Rushdi Siddiqui Sohair Omar Shabnam Mukhtar Host: John Vogel |
The Retail & Business Customer Landscape; Challenges & Opportunities
Customers are driving demand and growth of the Islamic finance and Halal industries in the United States. Both these segments have been evolving for the past 25+ years however the needs, satisfaction levels and opportunities are evolving. From small-business financing, to education financing, takaful and Sharia-compliant investment options continue to evolve. In this panel session, we will explore the current demand profile of the American Muslim market especially as it relates to financing. |
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10:00-11:00am
Karen Hunt- Ahmed Bassam Osman Anwar Khan Abed Ayoub Mohammed Alsharif Dr. Wasi Khan Host: Rasheed Ahmed |
CSR – The role of Wafq in Promoting Sustainable Society
The corporate social responsibilities are an integral component of large corporations, higher educational institutions and organizations that empowers the community. The availability of endowment funds and crowd sourcing investments are some of the pillars of society that could be a catalyst in making a better society. In this panel session, we will discuss the role of wafq investment as emerging Islamic financial tools in developing communities in providing educational infrastructures and economic opportunities. Also, gain understanding of new financial vehicles that would change the face of raising funds through social network or social media in achieving their passion. |
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11:15-12:15
BASSAM OSMAN Mustafa Abdallah Mohamed Ali Khan Owaiz Dadabhoy Andrew Metcalf Host: Naushad Virgi |
Investment – Expanding the portfolio of Financial Instruments to grow beyond the existing structures and attract greater market
The relative immaturity of this industry is evident in the availability of limited financial instruments in the United States. The current portfolio of Islamic Finance financial instruments in the United States are home mortgage, leasing and co-ownership of properties. These market size of these portfolio may range in the $2B. However, as the existing financial instruments are continuously expanding there would be a need for additional investment products to cater to the demand. In this panel sessions, we will be discussing: · Prospects of new financial instruments being introduced to the U.S. market. · What are the new trends in the global Islamic Finance market? · Is it time for the development towards asset securitization and secondary markets? Or readily accessible private equity to finance local economy activities? Also, we will attempt to answer questions such as, “is there a market for other products?” Or should the existing financial instruments reach the saturation point before new products are introduced to the market? |
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2:00-3:15
MUDASSIR SIDDIQI Abdulqader Thomas NADEEM SIDDIQI John Vogel KALLED ELSAYED Host: Mustafa Hashmi |
Funding – A need for paradigm shift in marketing of Islamic funding in attracting greater market
Islamic Finance funding opportunities in the United States has not reached a level where it is consider a main stream funding. This condition continues to prevail as the market availability and accessibility is not promoted aggressively or obtainable in the conventional markets. However, for there to be robust growth in this industry in the United States, initiatives should be undertaken to assess if the existing business model is effective and achieving the intended objectives? The Industry player should conduct an evaluation of the state of affairs of Islamic Finance in the United States. As the market capitalization in Europe, MENA and East Asia continue to expand aggressively the market expansion in the United States trading is not growing in tandem. It is minute in comparison to the global market. In this panel session, we will explore if there is a need for a paradigm shift in marketing Islamic financing so it become a stream funding opportunity and accessible by a larger market. |
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3:15-4:15
DAVID LOUNDY CAMILLE PALDI CYNTHIA SHAWAMREH Richard E. Friedman Host: Aijaz Hussain |
Emerging
Areas – Developing New Products & Services
The availability of various Islamic finance instruments is being fully marketed or made available for local U.S. market hinges on the sustainable growth. Majority institutional investors are focusing on promoting these instruments externally. Therefore, it is timely to consider for greater promotion in the local economies and what initiatives should be implemented to improve the local economies. Financial instruments such as sukuk would be an example of a socially responsible bond that could benefit the Federal, State and Local Government funding requirements as they are structured with limited market risk exposures. In addition to sukuk there are other types of funding instruments that could be perfect funding source for crowd sourcing, short-term loans for start-up, small business loans and other local economic needs. |
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4:30-5:30
RUSHDI SIDDIQI Muddassir Siddiqi Dr. Mohamed Nakibur Rahman Ahmed Adam Host: Amjad Quadri |
Convergence of Islamic Finance & Halal Industry: A New Opportunity Paradigm
In the United States, Islamic Finance and the halal food & lifestyle sectors (travel, pharma, cosmetics, media, other) markets have evolved independently much as they have globally. With a population of 6 million American Muslims with above average national affluence, these sectors have yet to intersect presenting tremendous opportunity to grow. In this panel session, we will explore the potential convergence and growth of these sectors focused on the United States. |
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5:30-6:00
Concluding Remarks Rushdi Siddiqui Muddassir Siddiqui Abdelqader Thomas John Vogel Andrew Metcalf Mohamad Nasir |
