3rd IFSB Summit: Asian Development Bank President to Deliver Keynote Address
Kuala Lumpur (PRWEB) April 14, 2006
His Excellency Mr. Haruhiko Kuroda, President of the Asian Development Bank (ADB) will deliver a Keynote Address at the 3rd Islamic Financial Services Board (IFSB) Summit to be held on 17 & 18 May 2006 in Beirut, Lebanon. Mr. Kuroda will set the stage for the proceedings of this global forum with insights on the industry’s development and growth potential with special focus on the Asian region. H.E. “The ADB is an IFSB Observer Member and it has been very supportive of the development of the Islamic financial services industry. We are honoured that Mr. Kuroda has agreed to share his professional insights at the Summit,” said Professor Rifaat Ahmed Abdel Karim, Secretary-General of the IFSB.
Mr. Kuroda brings with him vast experience as he was previously the Special Advisor to the Cabinet of Japanese Prime Minister Junichiro Koizumi and former Professor at the Graduate School of Hitotsubashi University in Tokyo. He has also served as Vice Minister of Finance for International Affairs and was instrumental in formulating Japan’s economic and financial policies in response to the 1997-1998 Asian financial crisis and represented Japan in many international monetary forums in various capacities.
Complementing the Asian perspective will be a viewpoint of the Islamic financial industry’s growth and future within the European Union. This will be addressed in the Gala Dinner Keynote by Mr Caio Koch-Weser, Vice Chairman of the Deutsche Bank Group. Mr Koch-Weser is a renowned personality whose profile includes a 26-year career with the World Bank, and State Secretary and Deputy Minister within the German Federal Ministry of Finance, among others. Fluent in four languages, Mr Koch-Weser, an economist, specialises in developing countries. He has been Chairman of the Economic and Financial Committee of the European Union since 2003.
The theme of this year’s Summit is Aligning the Architecture of Islamic Finance to the Evolving Industry Needs. This theme fittingly describes the common purpose for the assembly of Central Banks’ Governors, distinguished personalities and over 250 practitioners representing various global, regional and national institutions as well as market players. Banque Du Liban is hosting the Summit which will be under the auspicious patronage of H.E. Fuad Siniora, Prime Minister of Lebanon.
Drawing from the successes of the 1st and 2nd IFSB Summits, previously held in London and Doha, respectively, the IFSB has confirmed the presence of 30 distinguished global speakers including eight central banks’ governors. Together with high profile sponsors and media partners, this 3rd IFSB Summit is positioned as the highest networking platform for Islamic financial practitioners and decision makers this year.
Among the topics to be discussed during the two-day event are:
> Highlighting the Vision of Islamic Financial Services Industry in Reinforcing its Role in Economic Development
> Strengthening the Role of Islamic Finance in Economic Development
> Prudential Arrangements for the Stability and Development of Islamic Finance
> Systemic Liquidity Arrangement and Macro-Policy
> Legal Infrastructure for Islamic Finance
> Information and Governance Infrastructure for Islamic Finance to Strengthen Market Disciplines
> Vision and Prospect of Islamic Finance
View the “Who’s Who” of the 3rd IFSB Summit at its dedicated website http://www.ifsblebanon.com
Note to the Editor:
The Islamic Financial Services Board (IFSB), which is based in Malaysia, was officially inaugurated on 3rd November 2002. It serves as an international-standard setting body of regulatory and supervisory agencies that have vested interest in ensuring the soundness and stability of the Islamic financial services industry, which is defined broadly to include banking, capital market and insurance. In advancing this mission, the IFSB promotes the development of a prudent and transparent Islamic financial services industry through introducing new, or adapting existing international standards consistent with Islamic Shari’a principles, and recommend them for adoption. To this end, the work of the IFSB complements that of the Basel Committee on Banking Supervision, International Organization of Securities Commissions and the International Association of Insurance Supervisors.
The 84 members of the IFSB include 20 regulatory & supervisory authorities as well as the International Monetary Fund, the World Bank, Bank for International Settlements, the Islamic Development Bank, the Asian Development Bank, and 53 financial institutions from 60 countries.
Released by:
ISLAMIC FINANCIAL SERVICES BOARD (IFSB), 3rd Floor, Block A, Bank Negara Malaysia Building, Jalan Dato’ Onn, 50480 Kuala Lumpur, Malaysia.
Media enquiries:
SIHAM ISMAIL Tel: +603-2698 4248 ext 119 Fax: +603-2698 4280 Email: siham@ifsb.org
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