Islamic Finance symposium tackles the future of banking

Posted on Friday 4th November 2016

The Centre for Islamic finance hosted its first symposium on the Islamic finance industry on Wednesday (26 October).

The one-day event excited audiences with an analysis on the juncture of financial practice and theoretical positions debated around the Islamic financial sector.

The symposium welcomed a range of expert speakers from both the financial and academic professions and demonstrated the growing importance of Islamic finance in the modern financial industry.

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The University’s Vice Chancellor, Professor George E Holmes DL, opened the event with the Chairman of the Centre, Baroness Morris of Bolton, delivering a keynote address on “Ethics and integrity in the financial professions”.

During her speech, Baroness Morris outlined the growing importance of the Centre, which has welcomed a number of high profile speakers to speak at the University, including Chief Executive of High Speed Two (HS2), Simon Kirby and former Chancellor of the Exchequer Lord Norman Lamont.

Ken Eglinton, partner in financial services at Ernst & Young, spoke first on the challenges facing the financial industry and the work his company are doing worldwide.

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Left to right: Founder and Director, Professor Mohammed Abdel-Haq; Chairman of the Centre for Islamic Finance, Baroness Morris of Bolton; Patron of the Centre, George Philip Nicholas Windsor, The Earl of St Andrews; Vice Chancelor of the University, Professor George E Holmes DL.

He also examined sukuk (Islamic bonds) which are structured in a way as to generate returns to investors without infringing Islamic law and how the Islamic finance sector was not exposed to the 2007 market crash because of their cautious lending.

Dr Peter Kawalek, Professor of Strategy & Information Systems at Manchester Business School spoke on the challenges faced in the developing area of Islamic finance before the symposium was closed by Professor Bob Wood on “Systems thinking in a moral world”.

The event was open to all undergraduate and postgraduate students and also welcomed the patron of the Centre, George Philip Nicholas Windsor, The Earl of St Andrews.

For further information please contact Professor Mohammed Abdel-Haq at:  mohammed.abdel-haq@bolton.ac.uk

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