MANAMA, 15 July 2003 — Speakers from GCC states will address the Islamic Real Estate Finance Conference and Workshop 2003 (IREF 2003) being held in London from July 21-23.
Speakers include Dr. Mohamed A. Elgari, professor of Islamic economics at King Abdul Aziz University; Dr. Fuad Abdullah Al-Omar, one of the main founders of Gulf Finance House; Nizam Yaqouby, an expert in modern Islamic finance of Bahrain; Ahmed Al-Qattan, chief financial advisory officer at the Gulf Finance House, Bahrain, and Salman Younis from the Kuwait Finance House; and Rasheed M. Al-Baddah, manager of international investment department at KFH.
Lord Mayor of London (designate) Robert Finch, a celebrated real estate legal expert, will deliver the keynote opening address. Arab Banking Corporation, through its London subsidiary ABCIB Islamic Asset Management Ltd. (IAM), is the key sponsor and contributor at the event, described as the first of its kind. More than 37 papers will be presented by leading economic researchers, academics, bank managers and businessmen from various countries.
A pre-conference workshop will discuss subjects ranging from defining Islamic real estate investment, issues of securitization, securitization from a Shariah perspective, contracts and structures from a Shariah perspective, to real estate as an asset class — a prime candidate for securitization. There will be a case presentation of a recent securitization. Shariah issues related to real estate in the GCC, Shariah endorsement of investments including those that are real estate-backed, securitization in both conventional and Islamic market contests, and issues related to pricing, rating, market, political, listing and trading will also be covered.
Some of the main topics to be deliberated at the conference are an overview of the global real estate market, achieving real out-performance in Islamic real estate investments, UK as a place for investment, structuring Islamic real estate vehicles, offshore jurisdictions in establishing real estate funds, real estate in a balanced investment portfolio, evaluating the potential for convention managers to access the market, a case study on International Islamic Real Estate Fund, the role of conventional institutions in facilitating Islamic realty acquisitions and property selection, focus on success in Islamic real estate investments in France, Germany, New Europe, the United States, and a Shariah scholars forum’s panel discussion by industry experts.
“The composition of the conference-speaking platform proves Islamic financial institutions are at the forefront of investment and product innovation in real estate across the globe. They have demonstrated that real estate transactions structured on an Islamic financing basis can be as competitive and flexible as more traditional financing structures,” IREF said in a press release yesterday.
Chief executive officers, decision-makers, regulators, accounting professionals, lawyers, academics and researchers are among the delegates from the world over expected to attend the event.
IREF has set up a special website for the conference at www.islamicrealestate.com. The website provides up-to-date information concerning the conference, as well as registration fees and procedures.