INCEIF to feature on Bloomberg Television

INCEIF’s role as a knowledge leader in Islamic Finance and in developing world-class talent,  producing world-class talent for the global Islamic finance industry will be featured in Bloomberg Television’s new `Faith in Finance’ series.

The series, which made its debut on 17 Oct 2012, was shot on location in Kuala Lumpur, Abu Dhabi, Dubai, Riyadh and London. The series analyses the various financial centres which have successfully adapted to sharia economic principles.

INCEIF President & CEO Mr Daud Vicary Abdullah spoke to Bloomberg Television about INCEIF and its aim to contribute towards the development of human capital for the global Islamic financial services industry.

He also cleared a number of misconceptions on Islamic finance based on his own experience as a Caucasian Muslim convert.

In the six-part ‘Faith in Finance’ series, Bloomberg Television takes an in-depth look at the 1.3 trillion USD Islamic finance industry. In a statement, Bloomberg Television said at a time where conventional banking makes headlines for scandals and big bonuses, Islamic finance is growing 20 percent per annum, attracting the support of many non-Muslims. `Faith in Finance’ analyses sharia-compliant financing through case studies and interviews the key players and decision makers within the industry.

The episode which featured INCEIF will be aired on 21 Nov 2012. Below are the synopsis for each episode:
EPISODE ONE: ISLAM AND CAPITALISM | Wednesday 17 October

Europe and Africa: 8pm London | Middle East: 8pm Dubai | Asia: 6pm Hong Kong

There are 1.5 billion Muslims in the world and they are inspiring a change in conventional banking and finance. They want to combine the best of capitalism with the ethics of Islam. Now, with a turnover of more than 1.3 trillion USD, Islamic Finance is evolving rapidly. It offers a wide range of financial services – from retail banking to structured products and it’s going global, reaching out to non-Muslims.  Bloomberg looks at the founding principles of sharia compliant financing.

EPISODE 2: THE GLOBAL HUB | Wednesday 24 October

Europe and Africa: 8pm London | Middle East: 8pm Dubai | Asia: 6pm Hong Kong
Malaysia is the world’s leading hub for Islamic Finance. It began in the 1960s with the creation of the Pilgrims Fund, an organisation set up to make pilgrimages to Mecca more affordable. Today, the Malaysian sovereign pension fund – the second largest in Asia – invests more than 3 billion USD in sukuks, or Islamic bonds.
EPISODE 3: THE SHARIA PROPERTY BOOM | Wednesday 31 October

Europe and Africa: 8pm London | Middle East: 8pm Dubai | Asia: 6pm Hong Kong
London’s property market is fuelling Islamic financing.  From London’s latest iconic landmark, the Shard, to regular family homes, real estate is one of the preferred options for Sharia compliant funding. From Islamic Mortgages to Islamic Property Funds, the market is growing quickly. It is also attracting the interest of non Muslims.

EPISODE 4: DUBAI’S AMBITIONS | Wednesday 7 November
Europe and Africa: 8pm London | Middle East: 8pm Dubai | Asia: 6pm Hong Kong
Dubai is one of the fastest growing financial centres in the world. The government is attracting highly specialised talent, promoting high industry standards and encouraging the innovation of sharia-compliant products. The goal is clear: Dubai wants to become the global hub for Islamic Finance. But, with Saudi Arabia so geographically close and with Malaysia still growing at a double-digit rate, the challenge is a big one.

EPISODE 5: THE WESTERN GATEAWAY | Wednesday 14 November
Europe and Africa: 8pm London | Middle East: 8pm Dubai | Asia: 6pm Hong Kong
There are two million Muslims in the United Kingdom.  In 20 years that number is expected to exceed five million. The UK has the largest number of sharia-compliant financial institutions operating in any western county. However, Paris, Frankfurt and Luxembourg are also eager to compete.

EPISODE 6: THE CREATION OF VALUE | Wednesday 21 November
Europe and Africa: 8pm London | Middle East: 8pm Dubai | Asia: 6pm Hong Kong
The creation of value is a concept dear to Islam. According to sharia principles, profit should be reinvested in tangible businesses, which in turn, creates further wealth within society. Sectors such as real estate and infrastructure are ideal. This final episode looks at how sharia-compliant project financing is playing a pivotal role in developing some of Malaysia’s key industries.

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