Activity Date: 21-24 November 2016
Activity Venue: City / Country ICC, Istanbul Congress Center, Republic of Turkey
Activity Objectives: The International Islamic Trade Finance Corporation (ITFC) submits a progress report to the Standing Committee for Economic and Commercial of the Organization of the Islamic Cooperation (COMCEC) Sessions on its role in enhancing intra-OIC trade. ITFC participates also in the preparatory meetings prior to Ministerial Sessions, which include Follow-up Committee Meeting, Sessional Committee Meeting and Senior Officials Meetings.
COMCEC Meetings are follow-up meetings, where Member Countries are informed about the activities of OIC institutions. In this regard, submitting a progress report provides information for the delegates about ITFC’s trade finance and trade development operations, activities carried out since previous year’s COMCEC Session. OIC institutions are also informed about the same during the preparatory meetings.
CEO, ITFC will be in a Special Session on “Private Sector Perspective on Designing National Strategies to Develop Islamic Finance”
Objective of the Panel: The main objective of this panel is to discuss the perspective of the private sector on Islamic finance strategies both as beneficiaries and providers with a view to determining their challenges, setbacks and prospects in utilization of Islamic finance instruments developing new Islamic finance products and services, increasing innovation and supporting human resource development and their suggestions for Islamic Finance Strategies for the efficient use of Islamic finance instruments.
Issues and Topics: Possible points of discussion include but not limited to the following questions:
· What are the structural problems of the private sector in the current Islamic finance industry?
· What are the challenges of the private sector in utilizing Islamic finance instruments?
· How the problems faced by the private sector, both Islamic finance beneficiaries and providers, can be addressed with designing Islamic finance strategies?
· According to private sector, what should be the role of other actors (governments, multilateral development banks or academia) in the preparation and implementation of Islamic Finance Strategies?