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Mashreq Al Islami sponsors Middle East Islamic Finance & Investment Conference 2011

United Arab Emirates, 12th April 2011: Mashreq Al Islami, the Islamic banking division of Mashreq announced its sponsorship of the Middle East Islamic Finance & Investment Conference (MEIFIC) 2011 as a Gold Strategic Partner.

Held under the theme "Successfully Adapting to New Market Realities for Islamic Finance in the Middle East", the 1st Annual Middle East Islamic Finance and Investment Conference (MEIFIC 2011) is set to begin on the 12th of April 2011 at Dusit Thani.

Moinuddin Malim, CEO of Mashreq Al Islami introduced the 4th session of the conference under, ‘Assessing the Comparative Outlook for Wholesale and Retail Banking Services in the Middle East and participating as a panelist in session eleven under, ‘Overcoming the Challenges to Kick-Start the Next Growth Curve for Islamic Finance in the Middle East’.

Malim commented, “Islamic banks need to focus on their delivery platforms and service quality in comparison with their conventional counterparts. Unless, regulatory blockade prevent the conventional banks to offer Islamic services, Islamic banks will find tough competition from Islamic windows of conventional banks on services and delivery of products.”

He continued, “Islamic finance is required to look at capitalizing on consumer demand for Islamic products and services. Retail sector is fully geared up to serve the needs of consumers especially when it comes to saving and investment schemes or financing and fixed income investment opportunities. Consumers generally spend their savings rather than creating saving scheme for retirement, or children education or other useful purposes. Creating the habit of saving is both ethical and socially responsible venue where Islamic finance can play a greater part.”

“Another wave of growth will come in the Middle East when we see buoyant domestic debt capital market whether it is conventional bonds or Sukuks. This can be enhanced by having proper regulatory framework that encourages local issuers to tap domestic liquidity duly supported by local rating agencies.” Malim added.

With its exceptional panel of leading industry CEOs and thought leaders, MEIFIC 2011 will be a high-profile platform to specifically focus on the opportunities and challenges that are forging the Islamic banking, finance and investment landscape in the region.

For more information on Mashreq Al Islami, please log on to www.mashreqalislami.com or call 04-4244411.