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Editor's NoteThe Two Schools of Islamic Finance Welcome to the third edition of the Opalesque Islamic Finance Intelligence, and a blessed Ramadan Mubarak. As Muslims around the globe observe the holy month, we take this opportunity to pause and reflect on where Islamic finance stands today and what’s in store for the industry’s future. As millions of Muslims reflect, so does the industry ponder on its very own direction, principles and ultimate purpose. The global financial marketplace stands at a crossroads, undoubtedly the recent (and many) events in the capital markets have ignited a slow but steady analysis of regulation, governance, risk management and ultimately it’s beneficial role in society. Islamic finance is no different – faced with equally important and far-reaching choices to make for itself. Nevertheless, the bifurcation in the road has little to do with clearinghouses, oversubscribed issues or exotic solutions. It has nothing to do with GCC versus Malaysia, nor AAOIFI versus IFSB, and most certainly this is not about petrodollars or tapping so-called Middle East liquidity. The latter has to be one of the most ill-conceived and utterly-shortsighted concepts in the history of finance.... Please read on Bernardo Viczaino's article in the attached PDF. Further, this issue contains:
Editor: Bernardo Vizcaino - bernardo@opalesque.com
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Due Diligence for Fund of Funds & Hedge Funds Sept 9-10, London - Discount:Register by 7/8/2009 to SAVE GBP100 - plus receive a 10% Discount as Opalesque user - quote VIP Code: KM2222OP when registering: www.iir-events.com/IIR-Conf/page.aspx?id=21238 Exposure to the turmoil and fraudulent events of 2008 and the subsequent fallout, has led to fund of funds and hedge funds facing a drive by investors towards more stringent regulation, enhanced scrutiny and transparency. Madoff, large scale redemptions and lawsuits – these are just some of the unremitting issues impacting your industry. The upshot is that fund of funds and hedge funds are now facing an onslaught from Regulators and Industry Bodies in key areas, in particular due diligence. IBC’s Due Diligence conference is the only event in the UK which is dedicated to Fund of Funds & Hedge Funds. So do not miss this chance to hear from the following industry experts:
Islamic Finance: Reality and Outlook, 26-30 Sept, Indonesia
This seminar promises to be filled with discussions, networking, guidance and up to date solutions to financial issues of the Islamic fiannce industry as well as world financial crisis issues. With daily panel discussions with the speakers of the day and planned networking breaks, this seminar gives the needed knowledge, tools and contacts to compete with confidence in the Islamic Finance Industry. Why Attend?
For more information call: +966506477154 or email: register@aecs-kuwait.com or info@aecs-kuwait.com or visit: www.aecs-kuwait.com
Meet the Connecticut Hedge Fund Industry: Global Alpha Forum, Greenwich Nov 5, 2009.The Global Alpha Forum, produced by the Connecticut Hedge Fund Association together with Yale School of Management, Yale Center for Business and the Environment and Harvard Business School, is our answer to the World Economic Forum in Davos. Set in Greenwich, Connecticut, the “hedge fund capital of the world”, the Forum brings together thought leaders from investment management, academia, business and the non-profit sector for an intensive summit to discuss the state of the global economy, capital markets, financial regulation and to explore new technologies such as those leading the green technology revolution. The theme for the 2009 Forum is “Green Shoots and Animal Spirits”, as we will focus on signs of economic life and behavioral forces that will determine future growth.
About OIFIOIFI is the latest addition to the Opalesque family and designed to provide an effective gateway towards this growing and fast-evolving industry. It aims to provide an innovative and sophisticated approach to Islamic finance, with an unmatched ability to openly discuss the various issues, challenges and opportunities within the industry. Above all, OIFI maintains a practitioner approach – focusing on precise and relevant content for investors, product manufacturers, fund managers and all members of this truly global community. This new publication addresses the Islamic finance community through a monthly edition, complemented by the Opalesque Islamic Finance Briefing (our free industry news daily), and a variety of additional tools for readers. OIFI brings together a wide range of guest columnists, interviews, profiles and much more. Our coverage includes:
Above all, OIFI brings a new and energetic approach; it is a must-read for anyone interested in entering this field and a welcome new approach for industry participants. The OIFI concept has been jointly developed between Opalesque and Amsar Partners, an independent Islamic finance consultancy. Amsar brings together a multi-disciplinary team that includes Bernardo Vizcaino, CAIA, Managing Director; Nikan Firoozye Ph.D., Director of Shariah Structuring; and Khalil Jarrar J.D., Director of Jurisprudence. They combine highly regarded financial, academic and research backgrounds with an unmatched industry network. Their working experience ranges from boutique to institutional. Their research has explored Islamic funds, sukuk structures, a wide range of Shariah compliant instruments, as well as work on the conventional world - fixed income relative value strategies, bayesian models for algorithmic trading, macroeconomics, 130/30 and SRI funds, etc. Their previous editorial engagements have included the Middle East Insurance Review, Euromoney, RISK Magazine, Islamic Finance News, Terrapinn, IQPC, CNBC, Bloomberg, among others. Their academic trajectory ranges from Masters of Applied Finance, PhD in Applied Mathematics, Chartered Alternative Investment Analyst, Doctor of Jurisprudence, and International Law.
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