Islamic Finance - The Real Economy & the Financial Sector Forum in SPAIN - 23-24 May 2016

The Islamic Financial Services Board (IFSB) and Banco de España (Central Bank of Spain), in collaboration with IE Business School, will be organizing a Seminar on Islamic Finance: The Real Economy and the Financial Sector on 23 and 24 May 2016 in Madrid, Spain.

The Seminar on Islamic Finance is designed to encourage interaction among the delegates to explore the potential re-alignment of international policy frameworks to strengthen the linkages between the real economy and the financial sector. The Seminar aims to offer some perspectives on Islamic finance principles, and financing modalities, which directly relate to the real sector from both the viewpoints of risk and return. It will also provide an opportunity for a global policy dialogue among high-level policymakers from the various regions (e.g. Europe, MENA and Asia).

Over the last decade, Islamic finance has gained much acceptance in the global arena with estimates indicating the presence of more than 600 Islamic financial institutions operating across nearly 70 countries. The industry has approximately USD2 trillion worth of assets having expanded from offering basic banking services in the 1990s to become a holistic financial sector offering Shariah-compliant capital markets, asset management as well as insurance products and services.

Participants will include regulators, standard setters, leading private and public sector financial institutions executives, and academics - all converging to discuss pertinent issues and concerns, as well as proposals and recommendations for promoting the real sector, and consequently achieving the objectives of a resilient, stable and equitable global financial system.

Among the speakers, there will be Dr. José Antonio Rodríguez.

José Antonio is Partner in MARIMÓN Abogados Law Firm, member of ISFIN (Islamic Markets Advisors), he is an expert in in Banking, Finance Law & Energy, with special dedication to renewable energy, Purchase and Sale and Corporate restructuring operations, International contracts and corporate law.

José Antonio has a deep knowledge of the development of the Islamic Finance Industry in Spain. He has an Executive Education in Islamic Finance from King Abdul Aziz University, Jeddah, Saudi Arabia. His Law firm in the only Spanish Law Firm that is member of ISFIN.

He will speak about how Islamic finance provides a new and alternative source of funds for families, companies and public institutions. Although this system has originated from the Middle East and Asia, it is gaining traction globally during times when many are deliberating viable alternatives to the traditional financial systems in the Western countries. In Spain, a particular segment that experiences difficulty in steady availability of credit is the Small and Medium Enterprises (SMEs). Islamic finance principles propose a risk-sharing and equity-based financing mechanism that potentially provides a more viable modality for financing entrepreneurs, SMEs, as well as corporations and the whole society in general. Nonetheless, there will be challenges in the implementation of Islamic finance in Spain.