World Islamic Finance Forum
Expanding the Footprint of Islamic Finance: Innovation, Fintech and Regulation
19 & 20 March 2018
Movenpick Hotel, Karachi
Agenda

DAY 1
8:00am - 9:00am Registration  
9:00am - 9.20am Networking Break and Documentary  
9.20am - 11:05 am OPENING  
  Recitation from Holy Quran (10 mins)  
  Opening Remarks (5 mins) Mr. Ahmed Ali Siddiqui, Director, Centre for Excellence in Islamic Finance, Institute of Business Administration (CEIF-IBA)
  Welcome Note (5 mins) Dr. Farrukh Iqbal, Dean and Director, IBA
  Setting the Stage (5 mins) Dr. Ishrat Husain, Chairman, CEIF-IBA
  Keynote Address (10 mins) Mr. Irfan Siddiqui, President & CEO, Meezan Bank
  Keynote Address (10 mins) Mr. Zafar Abdullah, Commissioner & Acting Chairman, SECP
  Keynote Address (10 mins) Mr. Jameel Ahmed, Deputy Governor, State Bank of Pakistan (SBP) on behalf of Mr. Tariq Bajwa, Governor, State Bank of Pakistan
  Visionary Address (15 mins) Shaikh Muhammad Taqi Usmani, Shari’ah Board Chairman, Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI); Chairman Shari’ah Board, Meezan Bank; Deputy President, Dar ul Uloom, Karachi, Pakistan
  Inaugural Address (15 mins) Dr. Miftah Ismail, Federal Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Pakistan
  Address by Chief Guest (20 mins) H. E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman AAOIFI Board of Trustees
11:05 am- 11:20 am Networking Coffee Break  
11:20am - 11:30am Presentation on ICD's Role in Expanding Islamic Finance Outreach Mr. Najmul Hassan, Director FIDD, ICD, Islamic Development Bank, Jeddah.
11:30am - 12:30pm Implementing Industry Vision  
 
  • Progress and Gaps from WIFF 2016
  • "Will" to Shift to an Islamic Economic System
  • Challenges Ahead

Mr. Shamsul Hasan, Deputy Governor, State Bank of Pakistan

Dr. Ishrat Husain, Chairman, CEIF-IBA

Mr. Ahmed Ali Siddiqui, Director, Centre for Excellence in Islamic Finance, Institute of Business Administration (CEIF-IBA)

Mr. Rizwan Hussain, MD & CEO, Takaful Pakistan Limited

Mr. Irfan Siddiqui, President & CEO, Meezan Bank

Prof. Dr. Necdet Sensoy, Member of the Board, Central Bank of the Republic of Turkey
  Session Chair H. E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman AAOIFI Board of Trustees
12:30pm-2:00pm Presentation of Research Papers/Case Studies  
   
  1. Practical Aspects of Shari'ah Auditing in Islamic Financial Institutions
    By Ali Ashraf Usmani
    Shari'ah Audit and Advisory Meezan Bank
  2. Risk Management in Islamic Finance Institutions: The Case of Derivatives in Islamic Finance
    By Dr. Muhammad Ashfaq
    CEO Amanah Institute of Islamic Finance and Economics, Germany
  3. Fintech and its Potential Impact on Islamic Banking and Finance: A Case Study of Brunei, Darussalam and Malaysia
    By: Hassnian Ali, Rose Abdullah and Muhammad Zai Zaini
  4. Managerial Skills and Fund Flow Bias: What do We Know about Shari'ah-Compliant and the Socially Responsible Funds?
    By: Prof. Dr. Mohamed Eskandar Shah Mohd. Rasid
    Associate Professor and Dean of School of Graduate Studies, INCEIF
  5. Fintech Based Islamic Micro-Investment: An Effective Social Tool for Enhancing Poor's Capability and Financial Inclusion
    By: Dr Farrukh Habib, ISRA and Mohammad Ali Shah, MindSpring
  Session Chair Dr. Irum Saba
Assistant Professor, IBA
Coordinator, Research and Academics, CEIF-IBA
2:00pm-3:00pm Lunch & Prayer Break  
3:00pm – 5:00pm Closed Door Session on "Game Changers for Islamic Capital Markets and Takaful"  
  Moderator Mr. Muhammad Farhan ul Haq Usmani, Senior Vice President & Head of Shari’ah Audit & Advisory, Meezan Bank
3:00pm – 4:15pm Roadmap for the Fintech Ecosystem  
 
  • Is Fintech Gaining Traction in Islamic Finance Industry?
  • Potential Models for Fintech and Incumbent Interaction
  • Role of the Regulator

Mr. Hasan A. Bilgrami, President & CEO, BankIslami Pakistan

Mr. Ariful Islam, Deputy CEO, Meezan Bank

Mr. Imran Moinuddin, Chief Executive Officer, Nexdegree

Mr. Syed Samar Hasnain, Executive Director, Development Finance Group, State Bank of Pakistan

Mr. Said Gul, Managing Director, Pak-Qatar Family Takaful and Pak-Qatar General Takaful

Mr. Junaid Ahmed, Chief Executive Officer, Dubai Islamic Bank Pakistan

Mr. Sohail Javaad, Director Payment Systems, State Bank of Pakistan
  Session Chair Mr. Ashar Nazim, Managing Director, Finocracy
4:15pm - 4:30pm Networking Coffee Break  
4:30pm – 6:00pm Presentation of Research Papers/Case Studies  
   
  1. Collective Mudarabah; Islamic Liquidity Management Tool and an Alternative Product to Conventional Running Finance
    By Mufti Muhammad Muaz Ashraf, Meezan Bank
  2. Predicting Customers' Adoption Towards Family Takaful Scheme in Pakistan Using Diffusion Theory of Innovation
    By Arijo Sindhia, Imran Mehboob Shaikh, Kamaruzaman Noordin, Ahmed and Fawad
    University of Malaya, Malaysia
  3. The Impact of Net Stable Funding Ratio (NSFR) Regulations of Basel-III on Financial Profitability and Stability: A Case of Islamic Banks
    By: Prof. Dr. Rehana Kouser, Chairperson, Department of Commerce, Bahauddin Zakariya University, Multan
    Dr. Irum Saba, IBA, Karachi
    Dr. Zeeshan, Bahauddin Zakariya University
    Ulfat Abbas, Bahauddin Zakariya University
  4. On the Mind and Spirit of Islamic Framework for Economic Justice
    By: Mughees Shaukat, Head of Islamic Finance, College of Banking and Financial Studies, Central Bank of Oman, Muscat, Oman
    Bushra Shafiq
    Joint Director at Islamic Banking Department, State Bank of Pakistan
  5. Analysis of Effect of Zakat, Infaq and Shadaqah (Zis) Gross Regional Domestic Product and Minimum Wage of Regency/City on Poverty
    By Roikhan Muochammad Aziz, UIN Syarif Hidayatullah Jakarta, Indonesia
  Session Chair Dr. Mohamed Eskandar Shah Mohd. Rasid, Associate Professor and the Dean of School of Graduate Studies, INCEIF
6:00pm – 6:10pm Wrap-up Session -Summarizing Key Takeaway Points and Highlights of Day 1 – WIFF 2018 Mr. Ahmed Ali Siddiqui, Director, CEIF – IBA
DAY 2
9:00am - 9:30am OPENING  
  Recitation from Holy Quran (5mins)  
  Keynote Address (10 min) Dato' Dr. Azmi Omar, President & CEO, INCEIF
  Keynote Address (10 min) Dr. Mukhtar Ahmed, Chairman, Higher Education Commission
  Keynote Address (10 min) Dr. Zamir Iqbal, Chief Financial Officer & Vice President, IsDB, Turkey
9:30am – 10:45am Building the Big Brand Proposition  
 
  • Creative Disruption Through Product Innovation
  • Target 87% Non-Muslim Population Across the Globe
  • Creating 1 Million Jobs Over Next 12 Months

Dato’ Dr. Azmi Omar, President & CEO, INCEIF

Mr. Amer Bukvic, Chief Executive Officer, Bosna Bank International

Dr. Yahia Abdul Rahman, Chairman and CEO, LaRiba Bank, USA

Mr. Mohammad Shoaib, CEO, Al Meezan Investment Management Limited

Dr. Hatim El Tahir, Director Islamic Finance Group, Islamic Finance Knowledge Center Leader, Deloitte & Touchee, Bahrain

Mr. Ashar Nazim, Managing Director, Finocracy, Bahrain

Dr. Zeeshan Ahmed, Rector & Dean, Karachi School of Business & Leadership
  Session Chair Dr. Mohamad Akram Laldin. Executive Director, International Shari’ah Research Academy (ISRA), Malaysia
10:45am – 11:15am Networking Coffee Break  
11:15am - 1:00pm Presentation of Papers
  1. Housing and Housing Finance: Shari'ah-Compliant Long-Term Funds and the Role of Islamic-REITs
    By: Zaigham M. Rizvi, Secretary General, Asia-Pacific Union for Housing Finance
  2. Islamic Economic Human Index: The Fundamentals of Islamic Economic Humans in Indonesia
    By: Ahmad Ramadhani and Annisa Fitri, State Islamic University Syarif Hidayatullah Jakarta
  3. The Evolution of Global Islamic Banking Customer Behavior and Malaysian Bankers' and Institutional Client Perceptions
    By: Dr. Ziyaad Mahomed, Assistant Professor, INCEIF
    Prof. Dr. Shamsher Mohamad, Professor, INCEIF
    Wajahat Azmi, Post-Doctoral Fellow, INCEIF
  4. Contemporary Issues in Takaful
    By: Saira Shamsie, Institute of Chartered Accountants of Pakistan
  5. Ihsan Trust – A Model for the Corporate Sector to Contribute to Social Development
    By: Syed Hasan Faraz, Manager-Retail Product Development Meezan Bank
    Fayyaz ur Rehman, General Manager, Ihsan Trust
  6. Risk Assessment of Equity-based Islamic Shares Portfolios
    By: Dr. Wali Ullah, Department of Economics and Finance
    Institute of Business Administration, Karachi
  Session Chair Dr. Aishath Muneeza, Associate Professor, INCEIF
1:00pm - 2:00pm Lunch & Prayer Break  
2:00pm – 3:15pm Completing the Financial Circle
  • Focus on SME & Agri Sectors
  • Financial Inclusion and Shared Prosperity
  • Do IFIs consider SDGs in Strategic Planning?
  • Regulatory Push

Mr. Syed Samar Hasnain, Executive Director, Development Finance Group, State Bank of Pakistan

Dr. Salman Syed Ali, Senior Researcher, IRTI, KSA

Mr. Omar Mustafa Ansari, Acting Secretary General, AAOIFI

Mr. Farrukh Raza, Founder & Managing Director, IFAAS, UK

Mufti Muhammad Hassaan Kaleem, Resident Shari'ah Board Member, Dubai Islamic Bank Pakistan Limited

Dr. Aishath Muneeza, Associate Professor, INCEIF, Malaysia
  Session Chair Prof. Dr. Humayon Dar, Chairman, HD-Edbiz Group of Companies, UK
3:15pm – 4:45pm Presentation of Papers  
   
  1. Courts' Responses Towards Recovery of Financing Cases while Granting or Declining Charity: 'Critical analysis'
    By: Muhammad Shahid Shafiq
    District & Sessions Judge, Senior Faculty Member, Sindh Judicial Academy, Karachi
  2. Financing Agricultural Sector through A Salam-based Crowdfunding Model: A Proposal
    By Buerhan Saiti, Istanbul Sabahattin Zaim University, Istanbul, Turkey
    Irum Saba (corresponding author), IBA, Karachi
    Muhibullah Afghan, Institute of Islamic Banking and Finance, International Islamic University Malaysia
  3. Intricacies of Competition, Profitability & Stability in Dual Banking Economies. Does Presence of Islamic Banks Change the Dynamics?
    By Dr. Syed Aun R. Rizvi, Assistant Professor (LUMS), Director of Research – Centre for Islamic Finance, LUMS
  4. Monetary Policy Pass-through, Excess Liquidity and Price Spillover: A Comparative Study of Conventional and Islamic Banks of Pakistan
    By Muhammad Omer, Economic Policy Review Department, State Bank of Pakistan
  5. Fintech Rich Hybrid Islamic Micro-Finance
    By Dr. Salman Ahmed Shaikh
    Assistant Professor of Management Sciences
    SZABIST, Karachi
  Session Chair Dr. Ahmed Junaid, Chairman Department of Finance, IBA
4:45pm – 5:00pm Coffee Break  
5:00pm – 5:45pm Concluding Power Session with Islamic Finance Visionaries

Dr. Ishrat Husain, Chairman, CEIF-IBA

Prof. Dr. Necdet Sensoy, Member of the Board, Central Bank of the Republic of Turkey

Dr. Zamir Iqbal, Chief Financial Officer & Vice President, IsDB, Turkey

Dr. Mohamad Akram Laldin. Executive Director, International Shari’ah Research Academy (ISRA)

Dr. Yahia Abdul Rahman, Chairman and CEO, LaRiba Bank, USA

Mr. Irfan Siddiqui, President & CEO, Meezan Bank Limited

Mr. Ahmed Shuja Kidwai, CEO, Al Baraka Bank (Pakistan) Limited

Dr. Muhammad Imran Ashraf Usmani, Group Head Product Development & Shari’ah Compliance and Resident Shari’ah Board Member, Meezan Bank

Mufti Irshad Ahmad Aijaz, Chairman Shariah Supervisory Board, BankIslami Pakistan Limited
  Moderator Mr. Ahmed Ali Siddiqui, Director, Centre for Excellence in Islamic Finance, Institute of Business Administration (CEIF-IBA)
5:45pm – 6:00pm Closing Note Dr. Farrukh Iqbal, Dean and Director, IBA
6:00pm – 6:15pm Wrap-up Session - Summarizing Key Takeaway Points of WIFF 2018 Dr. Ishrat Husain, Chairman, CEIF-IBA
Prize distribution ceremony