The 5th World Islamic Retail Banking Conference is set to take place in Dubai on the 26th and 27th of November 2013 at the Shang-ri La Hotel, to present an unique platform for global banking leaders to evaluate Islamic Banking options.
“We believe that the future of Islamic retail banking is encouraging. This is apparently shown in the continual growth of this finance volume and its increasing growth rates which surpass their counterparts in conventional banking. This would create a challenge of the ability to develop the products of this sector to meet the increasing and renewed needs of this sector’s clients,” said Musa A.Shihadeh, Vice Chairman & CEO at Jordan Islamic Bank.
As the future promises great opportunity for the Islamic banking sector, the path ahead is continually intervened by external barriers.
Competition from conventional banks, reaching out to a predominantly captured market, creating awareness and educating them about a whole different banking concept creates excessive limitations in its growth cycle.
Apart from these external challenges that Islamic banking is continuously coping with, there are internal challenges that need to be addressed, in order to grasp the concept and proceedings of the banking structure.
The pivotal internal challenge that Islamic banking is suffering is related to the complications of documentation and formalities involved in Islamic banking due to its nature of business dealing.
Musa A.Shihadeh will elaborate on such internal limitations and brainstorm solutions at the 5th World Islamic Retail Banking Conference.
To reap extraordinary profits, implementing new and different strategies is very crucial than repeating competitor’s methods of business. However, standard differentiation strategies focusing either on product, pricing, process or people is a challenge at hand as general market surveys are the only means to predict and identify business strategies.
John Chang, Head of Consumer Banking at Noor Islamic Bank, in his presentation will raise awareness and brainstorm solutions to the vital question – How to achieve total organizational alignment.
5th World Islamic Retail Banking Conference will bring Global C level Islamic Retail Bankers together, presenting a powerful networking opportunity for conventional bankers, Islamic retail bankers, takaful companies, leading law firms and shariah experts to ensure that the strengths and weaknesses of the Islamic retail banking are probed every year and best practices shared to boost the asset growth.
This forum will witness presenters and industry experts from Al Baraka Banking Group, Standard Chartered Saadiq Berhad, Mashreq Al Islami, Noor Islamic Bank, Dubai Islamic Bank, Islamic Bank of Britain, Meezan Bank Ltd., Syarikat Takaful Malaysia Berhad, Bursa Malaysia, Bahrain Islamic Bank BSC, RAKBANK, Sohar Islamic, Bank Nizwa, Bank Islam Brunei Darussalam, Islamic International Arab Bank, Bank Alfalah Limited and many more.