Islamic banking is the new frontier in financial services and an increasing number of mainstream banks, from Austria to Australia, are planning to develop Islamic banking capabilities. Opening an Islamic banking “window” presents a myriad of issues, especially for mainstream commercial banks and regulators in non-Islamic markets, where there is scant or no existing Syariah-compliant infrastructure and regulation. Mainstream banks encounter a unique set of concerns, which are just beginning to emerge.

To clarify these issues, the Islamic Banking Conference at The Asian Banker Summit is bringing together the pantheon of regulators from various jurisdictions, CEOs of commercial banks that have built successful Islamic banking businesses, risk experts, legal experts, academics and other leaders and decision makers from the UK, the Middle East, Malaysia, Pakistan and other major markets.

DAY 1    Tuesday, 15 March
13.00-14.00	Registration and Coffee
14.00-15.30	Welcome and Introduction by The Asian Banker Keynote Presentation "What All Directors Should Know About Governance Of Financial Institutions In Today's Volatile Marketplace" The legendary Bill Seidman, who presided over the resolution of the savings-and-loans (S&L) debacle in the US and was the chairman of the Federal Deposit Insurance Corporation in the US for the most important parts of its history, continues to be the voice of wisdom on some of the hardest questions related to the governance of financial institutions today. Will Basel II, new IAS guidelines and other enhanced risk management and corporate governance regimes really make a difference in the stability of financial institutions globally? Are Asia's financial institutions and policymakers, especially in Japan, China, Korea and Indonesia, repeating the same mistakes, perhaps in different guises, that led to the savings-and-loans fallout in the US? What are the issues we should be concerned about as more banks take on financial holding company models, and how can we expect complex institutions in the US to develop? What are Mr. Seidman's own assessments of the role of independent directors in the critical areas of remuneration, audit and risk management? What forces reshaping the US economy should we be concerned with? Mr. William Seidman, Former Chairman of the US Resolution and Trust Corporation and Former Chairman of the Federal Deposit Insurance Corporation Panel Discussion Mr. Djohan Emir Setijoso, President Director, Bank Central Asia, Indonesia Mr. Richard Koppes, Member of the board of governors at the International Corporate Governance Network Dr. Wei S. Yen, Managing Director, Financial Institutions, Asia Pacific, Moody's
15.30 – 16.00	Tea Break
16.00 – 17.30	Forum On China "Corporate Governance Issues In China" The recent string of corporate scandals involving seemingly reputable Chinese corporations listed on international bourses has raised a critical question ~ Are Chinese institutions ready for the world of rising shareholder activism? What is the real state of corporate transparency and responsibility within China's large corporations? Speakers & Panelists Mr. Wang Shihao, Senior Executive Vice President, Bank of Shanghai Download PDF presentation Prof. Liu Junhai, Professor of Business Law and Assistant Director, Institute of Law, Chinese Academy of Social Sciences (Beijing) Download PDF presentation Mr. Richard Leung, Country Head - China, DBS Bank Download PDF presentation Dr. Wei S. Yen, Managing Director, Financial Institutions, Asia Pacific, Moody's Download PDF presentation Asia Pacific Outlook Forum "Asia-Pacific Banking and Sovereign Outlook 2005" Sovereign upgrades globally continued to outpace sovereign downgrades by a wide margin in the fourth quarter of 2004. Will Asian sovereign ratings continue with this trend in 2005? Standard & Poor's Ratings will provide its perspective and latest thinking on the credit outlook of the sovereign and sovereign-supported entities in the Asia-Pacific region including geopolitical risks and a global analysis of sovereigns. Presentation by Mr. Paul Coughlin, Managing Director, Asia, Corporate and Government Ratings, Standard & Poor's Ratings Download PDF presentation Ms. Nancy Koh, Director, Financial Services, Standard & Poor's Ratings Download PDF presentation Mr. John Stuermer, Managing Director, Fixed Income Research, Bear Sterns, Singapore Mr. Damien Wood, Director and Head of Asian Credit Research, Credit Suisse First Boston, Singapore

DAY 2    Wednesday, 16 March
09.00 – 10.30	Welcome and Introduction by The Asian Banker Keynote Address by Al Gore, Former Vice President of the United States of America "Investing in the Sustainability of Businesses Worldwide" Followed by a dialogue and Q&A with Mr Gore, with a focus on Mr Gore's observations on: The sustainability of US budgetary policies and its impact on the US corporate scene Shareholder and regulatory activism in the US today and their impact on US businesses in general (the broad range of issues from the Spitzer inquiries to boardroom tussles at major corporations today) Aligning US responses with international initiatives such as the International Accounting Standards (IAS) Mr. Gore's personal motivation in starting Generation Investment Management and the firm's global objectives in promoting sustainability as a business core competency How does sustainability influence risk management in high-risk businesses like trading firms? Mr. Gore's interactions with the Senate Banking Committee and trends in banking that he sees taking shape US policy towards Asia as well as US/global current social, political and economic situations.
10.30 – 11.00	Tea Break
11.00 – 12.30	Session 2 with Vice President Al Gore Contextualising Global Trends in Governance and Risk to Developments in Asia Dialogue and Q&A with Mr. Gore and invited panelists. Mr. Gore may respond to the following proposed issues: The experience of large Asian corporations in accessing US investors The influence of hedge funds and instruments like real estate investment trusts (REITS) on corporate behaviour Are governance and sustainability the corporate version of the "green" movement? How can traditional Asian corporations be better structured to inculcate better risk and governance practices How different are the conduct of directors in Asia relative to the US, and to what extent should independence and conduct of directors be legislated To what extent will we see harmonization of governance codes across regions, especially in Asia Panelists include Mr. William Seidman, Former Chairman of the US Resolution and Trust Corporation and Former Chairman of the Federal Deposit Insurance Corporation Mr. Djohan Emir Setijoso, President Director, Bank Central Asia, Indonesia Dr. Rifaat Ahmed Abdel Karim , Secretary General, Islamic Financial Services Board Mr. Stuart Wells, Senior Vice President, Sun Microsystems, Inc.
12.30 – 14.00	Networking Luncheon
14.00 – 15.30	Islamic Banking Conference Keynote Session The Future Of Islamic Banking Islamic banking is the latest frontier in financial services and new opportunities abound for both mainstream and Islamic financial institutions. What critical developments can be expected in the near future? What is Singapore’s proposition to the global Islamic financial services industry? Opening Keynote Addresses Mr. Ong Chong Tee, Deputy Managing Director, Monetary Authority of Singapore Dr. Rifaat Ahmed Abdel Karim, Secretary General, Islamic Financial Services Board Download PDF presentation Mr. Ikbal Daredia, Deputy CEO, Noriba Bank (a member of the UBS Group) Download PDF presentation
15.30 – 16.00	Tea Break
16.00 - 17.30	Issues In Regulating Islamic Banking In Non-Islamic Jurisdictions This session is for regulators in markets where Islamic finance is a niche, although increasingly important, activity. Overseeing Islamic banking requires a different set of knowledge and skills. This session explores: Training and selection of regulatory staff Ensuring the regulatory framework is Syariah-compliant Integration of Islamic-banking regulation into the main regulatory framework Speakers & Panelists Mr. Toby Fiennes, Manager, Middle East and Europe Group, Wholesale Firms Division, Financial Services Authority, UK Download PDF presentation Dr. Wafik Grais, Senior Advisor, Financial Sector, The World Bank
17.30 – 19.00	Welcome Cocktail

DAY 3    Thursday, 17 March
09.00 – 10.30	Accounting Practices And Corporate Governance For Islamic Financial Institutions The Islamic finance industry has adopted a variety of accounting principles and standards. This fragmented approach creates issues in financing, product creation and corporate transparency. But will standardisation of these standards be the panacea? A survey of various Syariah-compliant accounting principles Areas of convergence and divergence between mainstream accounting with Syariah accounting Accommodating Syariah accounting practices in a mainstream accounting culture Are International Accounting Standards (IAS) compatible with Syariah accounting? What systems and practices are needed to ensure transparency, corporate accountability and responsibility in Islamic financial institutions? Special Presentation by Dr. Mohammad Nedal Alchaar , Secretary-General, Accounting and Auditing Organization for Islamic Financial Institutions Download PDF presentation Panelists Discussion Mr. Muhammad Saleem Umer, CEO, Institute of Bankers Pakistan
10.30 – 11.00	Tea Break
11.00 – 12.30	Risk Management In Islamic Finance Is risk managed differently in Islamic banks? This session will look at: Definitions and measurements of risk in Islamic banking Is Basel II suitable for Islamic banks? Syariah-compliant risk-management instruments Speakers & Panelists Mr. Riyad M. Al Dughaither, Chief Risk Officer, Arab Banking Corporation Download PDF presentation Mr. Toby Fiennes, Manager, Middle East and Europe Group, Wholesale Firms Division, Financial Services Authority, UK Download PDF presentation
12.30 – 14.00	Networking Luncheon
14.00 – 15.30	Building A Halal Kitchen – Islamic Banking Operations Within A Commercial Bank This session presents the experiences of mainstream commercial banks that have built thriving Islamic-banking operations. Among the issues explored will include: Training and selection of staff Systems and compliance framework required Establishing an acceptable Syariah board within the bank Creating products and services that are acceptable to the Islamic market Speakers & Panelists Dr. Yahia Abdul-Rahman, Chairman and CEO, Bank of Whittier, USA Download PDF presentation Mr. Muhammad Saleem Umer, CEO, Institute of Bankers Pakistan Mr. Paul Dodd, Principal Management Consultant - Banking Sector Specialist, Misys International Banking Systems Download PDF presentation
15.30 – 16.00	Tea Break
16.00 - 17.30	Closing Keynote Address: “Where Asia Can Go Wrong” Asia had suffered, and continues to be beleaguered, by an unbridled credit culture that has merely shifted its focus from the corporate to the consumer sector. The resulting threat to the region’s socio-economic stability may yet yield unpleasant surprises for not just Asia but the increasingly interconnected global economy. Where are the dark spots in a region that is prospering again? Dr. Peter Warburton, Author of “Debt and Delusion” & Member of the Shadow Monetary Policy Committee at the Institute of Economic Affairs (UK) Download PDF presentation
End of Programme