REDmoney events
SRI LANKA
Cinnamon Grand, Colombo
29th August 2013

The prospects for growth in Sri Lanka are extremely attractive. With the first fully fledged commercial Islamic bank in Sri Lanka, almost all banks are now opening windows. There is strong growth in Ijarah, diminishing Musharakah and Sukuk. Sri Lanka is a strategic naval link between West Asia and Southeast Asia. A legislative breakthrough in 2005 with the Amendment of the Banking Act turned this economy into a potential hub for Islamic finance in the South Asian region.

The 2nd IFN Sri Lanka Roadshow will again be held in Colombo and will attract a strong delegation from both the local markets and those from neighboring markets such as Pakistan, India and the Maldives.

Confirmed Speakers

Dr A D Priyanka Baddevithana - Managing Director, Housing Development Financing Corporation, Maldives
Dr Aishath Muneeza - Head of Islamic Finance, Capital Market Development Authority, Maldives
Ajith Nivard Cabraal - Governor, Central Bank of Sri Lanka
Ammar Ahmed - Consultant, Dar Al Sharia
Ananda Silva - Senior Deputy Governor, Central Bank of Sri Lanka
Ariff Sultan - Regional Director (Asia), IdealRatings
Faizal Salieh - Managing Director & Chief Executive Officer, Amana Bank
Fazal Ghaffoor - Chief Executive Officer, Amana Takaful
Fazly Marikar - Head of New Product Development and Gold Unit, Amana Bank
Harith Harun - Chief Executive Officer, Maldives Islamic Bank
Hisham Ally - Head of Islamic Banking, HNB
Hitesh Asarpota - Director, Capital Markets & Structured Finance, Emirates NBD Capital
Imran Nafeer - Head of Microfinance, Muslim Aid
Imran Zahir - Head of Islamic Banking, NDB Bank
Ishrat Rauff - Managing Director & Chief Executive Officer, Adl Capital
Krishan Thilakaratne - Chief Executive Officer, Islamic Business Unit, Lanka Orix Finance
M Afzar Alam Nomani - Country General Manager, MCB Bank
M K S Mohamed Bishry - Chief Manager - Islamic Banking, Bank of Ceylon
Manil Jayesinghe - Partner, EY, Sri Lanka
Mohamed Azmeer - Chief Operating Officer, Amana Bank
Muhammad Azad Zaheed - Associate Director, Adl Capital
Muhammad Shoaib Ibrahim - Managing Director & Chief Executive Officer, First Habib Modaraba, Pakistan
Pathmanathan Asokan - Chief Executive Officer, Comtrust Asset Management
Reyaz Jeffrey - Chief Executive Officer, Amana Takaful Life
Reyaz Mihular - Managing Partner, KPMG Sri Lanka
Siddeeque Akbar - Vice President - Consumer Banking and Strategic Marketing, Amana Bank
Suresh R I Perera - Principal - Tax & Regulatory, KPMG
Tyrone Hannan - Head - Global Transaction Banking, Deutsche Bank
U L Muthugala - Additional Superintendent of Public Debt, Central Bank of Sri Lanka

Agenda

08:00 - 09:00
Registration
09:00 - 09:15
Welcome Address
Faizal Salieh - Managing Director & Chief Executive Officer, Amana Bank
09:15 - 09:30
Keynote Address: Ajith Nivard Cabraal - Governor, Central Bank of Sri Lanka
09:30 - 10:30
Session One: Islamic Finance in Sri Lanka: Laying the Groundwork for Long Term Growth
  • Sri Lanka's evolving political landscape and its impact on the development of Islamic finance
  • Prospects for sovereign and quasi-sovereign Sukuk issuance and its role in advancing Sri Lanka's Islamic finance industry
  • Role of regulators and market players in attracting foreign investors from Asia and the Gulf
  • Accessing liquidity for the development and growth of the domestic Islamic financial institutions: The need for capital
  • Ensuring a collaborative strategy to encourage the success of both Islamic windows and fully fledged Islamic banks
  • Assessing the impact of new domestic and foreign entrants in Sri Lanka's Islamic finance space: How large a market can this be?
Moderator: Reyaz Mihular - Managing Partner, KPMG Sri Lanka
Panelists: Ananda Silva - Senior Deputy Governor, Central Bank of Sri Lanka
Faizal Salieh - Managing Director & Chief Executive Officer, Amana Bank
Krishan Thilakaratne - Chief Executive Officer, Islamic Business Unit, Lanka Orix Finance
M Afzar Alam Nomani - Country General Manager, MCB Bank
10:30 - 11:00
Break & Networking
11:00 - 11:45
Session Two: Advancing Sri Lanka's Solid Growth in Islamic Finance: A View from Established Markets in Asia and the Middle East
  • How foreign market players and potential investors view Sri Lanka as an Islamic investment destination
  • Outlook for sovereign and corporate Sukuk issuances - what foreign investors are looking for
  • Analysing its progress thus far and steps needed to advance its development
  • What sectors should market players and regulators focus on - food & agriculture, SMEs, PPPs
  • The vital need to invest in marketing the Islamic finance concept and educating the market: lessons learnt from Malaysia and the Gulf
  • Shariah considerations: Addressing the crucial issues of developing Shariah scholars and setting up Shariah boards
Moderator: Suresh R I Perera - Principal - Tax & Regulatory, KPMG
Panelists: Dr A D Priyanka Baddevithana - Managing Director, Housing Development Financing Corporation, Maldives
Ariff Sultan - Regional Director (Asia), IdealRatings
Harith Harun - Chief Executive Officer, Maldives Islamic Bank
Hitesh Asarpota - Director, Capital Markets & Structured Finance, Emirates NBD Capital
11:45 - 12:00
Presentation: Developing an Enabling Tax Framework to Drive the Growth of Islamic Finance in Sri Lanka
Suresh R I Perera - Principal - Tax & Regulatory, KPMG
12:00 - 12:15
Presentation: Initiatives and Developments in Takaful, Re-Takaful and BancaTakaful
Reyaz Jeffrey - Chief Executive Officer, Amana Takaful Life
12:15 - 13:30
Lunch
13:30 - 14:15
Session Three: Assessing the Potential for Shariah Compliant Retail, Microfinance and Leasing Products
  • Addressing the vital need to narrow the spread between borrowing and lending rates
  • Developing Islamic leasing products suited to Sri Lanka's massive demand in the transport, trade and services sectors
  • Challenges faced by Islamic retail banks: Stiff competition, Shariah concerns and the crucial need for innovative product structures
  • Islamic microfinance: Outlook and future prospects for Sri Lanka
  • Tapping existing opportunities in Sri Lanka's Halal industry: How can Islamic banks and Islamic windows benefit from this growing market
  • Recognizing the need for structured programs to develop qualified talent in the Islamic finance sector
Moderator: Muhammad Azad Zaheed - Associate Director, Adl Capital
Panelists: Dr Aishath Muneeza - Head of Islamic Finance, Capital Market Development Authority, Maldives
Imran Nafeer - Head of Microfinance, Muslim Aid
Imran Zahir - Head of Islamic Banking, NDB Bank
M K S Mohamed Bishry - Chief Manager - Islamic Banking, Bank of Ceylon
Siddeeque Akbar - Vice President - Consumer Banking and Strategic Marketing, Amana Bank
14:15 - 14:30
Presentation: Driving Growth in Sri Lanka's Islamic Funds Sector
Pathmanathan Asokan - Chief Executive Officer, Comtrust Asset Management
14:30 - 15:15
Session Four: Utilizing Islamic Finance as a Catalyst for Sri Lanka's Infrastructure, Funds and SME Sectors
  • Attracting foreign investments for infrastructure projects: Prospects for public private partnerships and cross border financing from Asia and the Gulf
  • Are Shariah compliant structures well suited to meet the needs of Sri Lanka's infrastructure development projects?
  • Outlook for Islamic unit trusts and private equity funds
  • Addressing the need to develop new investment products catering to domestic and foreign investors in the retail and institutional space
  • Developing innovative structures to serve Sri Lanka's rapidly developing SME market
  • Exploring the viability of establishing an Islamic real estate business in Sri Lanka through a Mudarabah fund model
Moderator: Ishrat Rauff - Managing Director & Chief Executive Officer, Adl Capital
Panelists: Ammar Ahmed - Consultant, Dar Al Sharia
Fazly Marikar - Head of New Product Development and Gold Unit, Amana Bank
Muhammad Shoaib Ibrahim - Managing Director & Chief Executive Officer, First Habib Modaraba, Pakistan
Tyrone Hannan - Head - Global Transaction Banking, Deutsche Bank
15:15 - 16:00
Session Five: Crucial Steps to Develop Sri Lanka's Steady Growth in the Islamic Finance Industry
  • Managing the issue of surplus liquidity in Islamic banks and action required by regulators
  • Entrance of new market players and Takaful operators: Future growth prospects and challenges
  • The crucial need to create a symbiotic relationship between Takaful providers and Islamic banks and windows to further develop the industry
  • Finding solutions to the current tax restrictions in the repatriation of funds in order to grow foreign direct investments
  • Impact of the credit ceiling on the growth and development of Islamic banks
Moderator: Manil Jayesinghe - Partner, EY, Sri Lanka
Panelists: Fazal Ghaffoor - Chief Executive Officer, Amana Takaful
Hisham Ally - Head of Islamic Banking, HNB
Mohamed Azmeer - Chief Operating Officer, Amana Bank
U L Muthugala - Additional Superintendent of Public Debt, Central Bank of Sri Lanka
16:00 - 16:45
Coffee & Networking

SPONSORS AND PARTNERS

IN ASSOCIATION WITH
Amana Bank
SUPPORTED BY
AAOIFIInternational Islamic Financial Market
MULTILATERAL STRATEGIC PARTNER
The Islamic Corporation for the Development of the Private Sector (ICD)
EXCLUSIVE KNOWLEDGE PARTNER
CIMB Islamic
EXCLUSIVE SHARIAH ADVISORY PARTNER
Dar al Sharia
ASSOCIATE PARTNERS
Amana Global
Amana Takaful Life
Amana Takaful Maldives
Al-Falaah, Islamic Business Unit, Lanka ORIX Finance PLC.
ROADSHOW PARTNERS
Emirates NBD Group
FWU Group
IdealRatings
Russell Indexes
Standard Chartered Saadiq
Trowers &  Hamlins
ROADSHOW ASSOCIATES
DDCAP Group
Khalij Islamic
BRANDING SPONSORS
Deutsche Bank
GLOMIF
LEAD MEDIA PARTNER
Islamic Finance news
MEDIA PARTNERS
Business Islamica
Capital Business
Echelon
Daily Lakbima

 

 

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