Malaysia replaces Pakistan as leader in Islamic banking, finance

Islamabad represented by only one bank at UK leadership conference

Humayon Dar August 28, 2016
Islamabad represented by only one bank at UK leadership conference. PHOTO: REUTERS

LONDON: The Cambridge Islamic Finance Leadership Programme (IFLP) 2016 attracted participation from the Middle East, Africa, Asia, Europe and America.

Over a period of five days beginning August 20, more than 50 mentors, speakers and delegates took part in the global leadership programme, specifically structured for the middle and upper-middle management personnel of Islamic financial institutions.

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Designed and structured by Cambridge IF Analytica and held at Clare College, University of Cambridge, the programme was delivered by some of the most influential leaders in Islamic banking and finance.

The Cambridge-IFLP 2016 was strategically supported by the Jeddah-based Islamic Corporation for the Development of Private Sector (ICD), which also sent a group of delegates from its Islamic Finance Talent Development Programme.

Other sponsors included Kuala Lumpur-based Finance Accreditation Agency, which was represented by its CEO, Dr Amat Taap Manshor and Chief Technological Officer, Dr Eddy Chong.

The programme included seven leadership interviews, which were recorded and live-streamed on major social media platforms.

On the first day, Dr Adnan Chilwan, CEO of Dubai Islamic Bank, was interviewed as part of the leadership interview segment.

Sharif El Gamal, CEO of Soho Properties, New York, and Dr Daud Bakar, Chairman of Amanie Holdings, were amongst other speakers and interviewees for the day.

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Dr Yaqub Mirza, an American-Pakistani entrepreneur and CEO of Sterling Management Group, was also amongst the speakers.

Pakistan was represented by only one organisation – Habib Metro Bank. The delegates were selected through a tough competition amongst middle and upper-middle management of Islamic financial institutions from around the world.

Malaysia topped the list with eight delegates. Although Pakistan was represented by only one bank, there were other Pakistani bankers working in the Middle East who were amongst those chosen for the leadership programme.

Pakistan has historically provided leadership in Islamic banking and finance, but lately this role has been taken up by countries like Malaysia.

“Representation of Habib Metro Bank at the Cambridge-IFLP and contribution of Bilal Subzwari from the bank was noted with appreciation by the programme mentors,” said Dr Sofiza Azmi, Programme Director.

The Cambridge-IFLP was structured in such a way that it gave the delegates direct access to the global leaders in Islamic banking and finance. A number of CEOs of Islamic financial institutions spent plenty of time with the delegates throughout the programme.

Among them were Wan Fadzmi Wan Othman, CEO of Agrobank (Malaysia), Ramlie Kamsari, CEO of Nomura Islamic Asset Management, Mohammad Ikram Thowfeek, CEO of CAF Investment Bank (Kuwait) and Fadi Al Faqih, CEO of Bank of Khartoum.

All the delegates received Cambridge Certificates in Islamic Banking and Finance Leadership. Five of the delegates were also presented with Cambridge Islamic Finance Leadership Awards.

The winners included Tanvir Ahmeduddin (ICD), Abdul Azim Mohammed (Bank Islamic Brunei Darussalam), Dr Hanis Osman (Bank Rakyat Malaysia), Mohammad Taufik Zakaria (Agrobank Malaysia) and Oluwaseun Alele (DDGI).

The writer is an economist and PhD from Cambridge University

Published in The Express Tribune, August 29th, 2016.

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Ch. Allah Daad | 7 years ago | Reply So many fancy words and terms. The bottom line is that except word Islam and Islamic banking, everything else is modern banking. The Islamic terms are used to lure and fool innocent Muslims.
Pakistan Zindabad | 7 years ago | Reply As per the qualification of the writer. We are lacking the productive knowledge and suggestions, which should be part of this article. If only people like Mufti Justice Usmani is part of any program like these. The scenario would be different.
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