Last November Bank for International Cooperation (JBIC) in Nihon Keizai Shimbun, along with the Japan Securities Dealers Association, “2009 Symposium on Islamic finance: Islamic finance and the global financial crisis – Implications for Japan” held.
The revised Financial Instruments and Exchange Law in Japan last year, banks and insurance companies has become possible with the handling of Islamic financial subsidiaries, and is expected to expand business potential in the future.
In his keynote speech, from the Bahrain Central Bank Governor Rasheed Arumaraji First, “the historical role and challenges of Islamic finance,” entitled, the current situation and future development of Islamic finance, and received a lecture about the business of the Central Bank of Bahrain.
In addition, K.. C. Financial Services Financial Secretary of Hong Kong Chan, “Non-Muslim Islamic finance market,” entitled, received a lecture about the global spread of Islamic finance.
The end of the keynote, JBIC chief executive from Hiroshi Watanabe, “Islamic Finance world financial crisis” gave a lecture titled.
In situations where the current financial market is shrinking, the large role played by private financial institutions, to revitalize the financial market, it will require new financing channels, such as Islamic banking, financial and real economy Islamic finance is closely related, has increased its presence in non-Muslim country, said the expected effect of future developments.
Followed by “Islamic finance and Japan” is a panel discussion titled, JBIC has participated as a panelist Maeda Masashi International Management from the Planning Department.
Maeda is a difficulty in the interpretation of Shariah in Islamic finance qualification, such as pointing out the problem does not exist Sekandarimaketto point, development of financial products and bridge the differences in interpretation will be important for the improvement of market I may mention.
(Asian Bond Markets nitiative、ABMI)）In addition, JBIC comprehensive efforts to give the thickness in the bond market in Asia (Asian Bond Markets Initiative (Asian Bond Markets Initiative, ABMI)) that I went to this Asian financial savings in Asia Efforts will be recycled and made in the market for Islamic finance, as well as the domestic market, Japan has proposed to tackle the strategic effect must have a comprehensive perspective of the whole of Asia.
In the afternoon workshop, “Islamic equity and asset management” and “practical assistance from a legal point of view and Sharia” in the session, JBIC Yoshida Shiyouetsu served as moderator of Finance Director in the Middle East and Europe Ata.
From Yoshida, “On a practical basis for Islamic investment,” entitled, and the main Islamic investment products introduced recently gave an explanation about its composition and methods.
JBIC is Islamic finance and other like we intend to continue our efforts to disseminate will get useful information to fulfill its mission of utilizing financial tools
Source : jbic