2nd Global Forum on Islamic Finance 2014

Monday, March 10, 2014

GFIF 2014 At a Glance

COMSATS Institute of Information Technology, Lahore campus organized the second annual three days Global Forum on Islamic Finance (GFIF) on March 10 – 12, 2014 at Pearl Continental Hotel, Lahore. Mr. Zahid Hamid, Federal Minister for Science and Technology and Chancellor CIIT presided its opening ceremony while Mr. Mohammad Ishaq Dar, Federal Minster for Finance, Commerce and Industries addressed on video conference. Haji Abdul Malik Kassim, Minister of Religious Affairs, Penang, Malaysia also graced the occasion. On the second day, Mr. Saeed Ahmed, Deputy Governor of Islamic Banking Division (IDB), State Bank of Pakistan presided and also participated in ongoing conference sessions.

GFIF comprised of conference sessions, panel discussions, meetings and exhibition. It encouraged researchers, practitioners, government and private financial institutions, academicians and other stakeholders from across the world towards generation and exchange of knowledge, issues and solutions in the field of Islamic Finance. On all three days of GFIF 2014 senior officials from State Bank of Pakistan, foreign and national practitioners, CEOs/Heads and Shariah Advisors of Islamic bankers, academicians and research scholars contributed their findings on Developments and the Way Forward in Islamic Finance. CIIT is committed to uphold GFIF annually through its Center of Islamic Finance (CIF).

Since 2013 GFIF has been a successful international platform for spreading awareness on Islamic finance. This year renowned international stakeholders of Islamic Finance represented government of Malaysia, Lancaster University UK, Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Bahrain, University Technology Malaysia, Islamic Research and Training Institute (IRTI) KSA, Islamic Banking and Finance Center (IBFC) UK, Islamic Finance Advisory & Assurance Services (IFAAS) France, Qatar Foundation Qatar, Maxim Corporate Finance UK, International Shariah Research Academy (ISRA) Malaysia, Inayah Research and Consulting Institute Jordan, University of New Orleans USA, University of Warwick UK, Lebanese International University (LIU) Lebanon, University of Leicester UK, Mount Allison University Canada, Durham University UK, Al-Barakah Multi Purpose Cooperative Society Mauritius, Islamic Bank of Britain PLC UK, LaTrobe University Australia, Cardiff University UK, Qassim University KSA, Franco American Alliance for Islamic Finance (FAAIF) Dubai and International Islamic University Malaysia have graced this occasion. GFIF 2014 further selected knowledge contributions from indigenous scholars and practitioners from FAST National University Islamabad, University of Agriculture Peshawar, Government College University Lahore, Institute of Business Management Karachi, ISRA University Hyderabad, AlBaraka Bank, MCB Islamic Bank, Meezan Bank, Bank of Punjab, Bank of Khyber and UBL Ameen. The knowledge contributed at GFIF is being considered for publication in Journal of Islamic Economics, Banking and Finance and IRTI Research Journal Islamic Economic Studies.

In the exhibition of GFIF 2014 Habib Bank Limited Islamic Banking, Al Baraka Bank, MCB Islamic Bank, Meezan Bank, UBL Ameen, Bank of Khyber Raast Islamic Banking, Akhuwat Foundation, Al-Huda and DEEP Foundation displayed their stalls. A good range of international and national magazines, newspapers and electronic media also covered the event on all three days. Every year at GFIF, CIIT facilitates research and development among stakeholders of Islamic finance to optimize and share knowledge for eliminating usury (Riba) and adopting Shariah compliant financial system.

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