Let’s talk about Islamic finance


Project Coordinator: Katarzyna Czupa

katarzyna.czupa@case-research.eu
katarzyna.czupa@centruminicjatyw.org


logo_islamicThe main purpose of the project is to broaden the understanding of Islamic finance in Poland. Islamic finance is one of the most rapidly growing sectors in recent years. According to EY, between 2009 and 2013 an annual growth of value of the Islamic financial assets amounted to 17.6 per cent; in 2013 it reached 1.7 trillion dollars. The unquestionable success of the so-called unconventional finance received attention of investors, scholars, and politicians alike, and sparked a debate about its impact on traditional finance and development. We strongly believe that European would benefit greatly from learning about Islamic innovative financial solutions and so it is crucial to share knowledge about Islamic finance – a topic not widely known in Poland yet. The project is organized in yearly editions.


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Course ‘Ethical finance in practice. Characteristics of Islamic financial instruments used by European business entities’

19-20 November 2016

Warsaw

 

Islamic finance brings a wide range of benefits for investors, retail consumers and the whole economy. Given that CII decided to organize a two-day course called ‘Ethical finance in practice. Characteristics of Islamic financial instruments used by European business entities’. The event is co-organized by Moody’s Investors Service and the Islamic Research and Training Institute, a Saudi Arabia-based institution that is a member of the Islamic Development Bank Group. The project is addressed to the representatives of financial institutions, policy-makers, and academia.

The main purpose of the project is to broaden the understanding of Islamic finance in Poland. More specifically, the organizers aim at promoting practical information about sharia-compliant instruments (their characteristics and problem of risk management) so as to broaden the range of financial instruments offered to retail and institutional customers in Poland and thus to raise competitiveness of the Polish financial sector.

The course will address the following issues: risk management (including the problem of derivatives), rating and regulations. The presentations will be delivered by: prof. Abdul Ghafar Ismail (IRTI); dr Muhamed Zulkhibri (IRTI); Arif Bekiroglu (Moody’s Inwestors Service); Katarzyna Czupa (CIM) oraz Katarzyna Sidło (CASE).

Agenda.

Patrons: the Polish Chamber of Commerce, the Conference of Financial Companies in Poland and Magiel.

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logo_islamicLet’s talk about Islamic finance’ is an initiative which aims to broaden the understanding of Islamic finance. Islamic finance has been one of the most rapidly growing sectors in recent years. According to Ernst&Young, an annual value of the Islamic financial assets has increased to 17.6 per cent over the last 4 years. In 2013 it reached 1.7 trillion dollars. The unquestionable success of the so-called unconventional finance received attention of investors, scholars and politicians and sparked a debate about its impact on traditional finance and development. As far as we are concerned, Poland ought to add its voice to this discussion. The project is organized in yearly editions (the first one took place in October and November 2015).


Team members:

  • Patrycja Chomicka (NOTABENE)
  • Katarzyna Czupa (Centrum Inicjatyw Międzynarodowych)
  • Mateusz Rybiński (Baba Rafi Enterprise)
  • Katarzyna Sidło (Uniwersytet Warszawski, CASE)
  • Paulina Wojciechowska (Centrum Inicjatyw Międzynarodowych)

Project results:

First edition:

1) series of articles concerning Islamic finance and economic situation in the leading economies of the Middle East published on CII Blog;

2) Conference ‘Islamic finance. A new solution for entrepreneurs and investors?’ (partners the Polish Forum of Young Diplomats and Notabene – the International Affairs Review, Center for Social and Economic Research, the Polish Chamber of Commerce and debaty.org.pl);

3) Publication “Islamic finance. A solution for sustainable economic development of the Gulf Cooperation Council countries”.

4) Radio interviews:

Seminar ‘Innovative approaches to finance. The Islamic experience in Europe’

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The main purpose of the seminar (AGENDA) is to broaden the understanding of Islamic finance in Poland and to present solutions used in Europe. More specifically, the organizers aim at promoting practical information about sharia-compliant instruments (their characteristics and problem of risk management), presenting models of implementation used in the UK and Luxemburg and creating a platform for a debate between stakeholders in the field innovative finance. The project is addressed to representatives of academia, financial institutions, and policymakers. The seminar is organized with Narodowy Bank Polski  (within the project “Economic education”) and Polish Economic Association, under patronage of Ministry of Finance, Polish Chamber of Commerce and Warsaw Voice.

Islamic finance is one of the most rapidly growing sectors in recent years. According to EY, between 2009 and 2013 an annual growth of value of the Islamic financial assets amounted to 17.6 per cent; in 2013 it reached 1.7 trillion dollars. The unquestionable success of the so-called unconventional finance received attention of investors, scholars, and politicians alike, and sparked a debate about its impact on traditional finance and development. We strongly believe that Poland would benefit greatly from learning about Islamic innovative financial solutions used in Europe and so it is crucial to share knowledge about Islamic finance – a topic not widely known in Poland yet.

To that end CASE – Center for Social and Economic Research and Centre for International Initiatives joined ranks to organize a seminar ‘Innovative approaches to finance. The Islamic experience in Europe’, which will take place on February 9th, 2016 (agenda is presented below). It will be preceded by publication of series of analyses prepared by CASE researches and external experts. Our goal is to present various points of view on the very idea of Islamic banking and finance and foster the discussion about potential benefits it could bring to European economies. Consequently, we also plan on publishing a post conference analysis, addressing the risk management related issues in institutions offering Islamic financial products in their investment portfolio. The publication will be available online for free and disseminated through CASE and CIS media and research networks.

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