Kuala Lumpur, 11 March 2010

SC collaborates with Oxford Centre for Islamic Studies to advance Islamic finance

The Securities Commission Malaysia (SC) and the Oxford Centre for Islamic Studies (OCIS) have joined hands to create an international platform for debate, dialogue and study on contemporary issues and challenges faced in Islamic finance. 

The inaugural collaboration between SC and OCIS, well-known for its research and academic excellence, will help further facilitate intellectual discourse among Islamic finance experts, Shariah advisers and scholars from around the world.

SC Chairman Tan Sri Zarinah Anwar said: “We are pleased to work with OCIS in the advancement of Islamic finance. The collaboration reflects SC’s commitment to building knowledge and encouraging research and discourse in Islamic finance.”

Towards this end, both sides will be jointly hosting a high-level roundtable and a public forum on 15-16 March 2010 Kuala Lumpur to discuss the way forward for Islamic finance following the global financial crisis.

Dr Farhan Nizami, the Director of OCIS, said the Centre has embarked on the studies of Islamic finance in a move to promote a more comprehensive understanding of Islamic culture and civilisation.

“OCIS is dedicated to achieving by academic means a better understanding of Islam and the needs of Muslim societies.  As part of this objective it is embarking on the study of Islamic finance,” he said.  “Given Malaysia’s success in the development of Islamic capital markets, OCIS welcomes the opportunity to work in partnership with SC in this important area of study.”

The SC and OCIS will jointly host a closed-door high-level roundtable on 15 March 2010. The topic of the roundtable is “Developing a Scientific Methodology on Shariah Governance for Positioning Islamic Finance Globally”.

This will be followed by a public forum on 16 March 2010. Some 300 industry practitioners, regulators and scholars are expected to attend the forum, which will discuss the contribution of Islamic finance post the financial crisis.

His Royal Highness Raja Dr. Nazrin Shah ibni Sultan Azlan Muhibbuddin Shah, Crown Prince of the State of Perak, who is also the Financial Ambassador to the Malaysia international Islamic Financial Centre (MIFC), will deliver his keynote address at both events. Tan Sri Zarinah and Dr Nizami will also speak.

Prominent Islamic finance experts speaking at the forum include:

  • Dato’ Mohd Razif Abd Kadir, Deputy Governor, Bank Negara Malaysia
  • Dr Abbas Mirakhor, Former Executive Director, International Monetary Fund
  • Sheikh Dr Mohamed Ali Elgari, Professor of Islamic Economics, King Abdul Aziz University, Jeddah
  • Professor Dr Habib Ahmed, Sharjah Chair in Islamic Law and Finance, Durham University, UK
  • Abdulkader Thomas, President & CEO, SHAPE Financial Corp, USA and Kuwait
  • Iqbal Khan, CEO, Fajr Capital UK
  • Davide Barzilai, Banking Partner, Norton Rose LLP, UK
  • Andri Aidham Ahmad Badri, Partner, Kadir Andri & Partners, Malaysia
  • Mushtak Parker, Islamic Banker, UK
  • Rafe Haneef, Managing Director, Fajr Capital, Malaysia