Masood Tyabji Managing Director-Ithmaar Bank

Senior executives from Bahrain-based Ithmaar banking group, one of the most diversified of its kind in the Middle East, will be speaking at the 14th World Islamic Banking Conference (WIBC 2007), being held at the Gulf International Convention Centre from 8 to 10 December 2007. Solidarity General Manager Ashraf Bseisu will discuss the challenges faced by the takaful (Islamic insurance) while Ithmaar Bank Managing Director Masood Tyabji will talk about the growing competition among wholesale banks.

The Ithmaar banking group are Platinum level sponsors of WIBC 2007, classed as Group Banking Partners. The conference, being held under the patronage of HH Shaikh Khalifa bin Salman Al Khalifa, Prime Minister of the Kingdom of Bahrain, is a key event on the Islamic banking industry’s calendar. More than 1,000 international bankers and financial professionals from over 35 Countries are expected to attend. Financial experts, including senior bankers, Sharia scholars, academicians and decision makers, will give their insights into issues related to the growth of Islamic financial services and Takaful globally. They will discuss ways of helping to further develop this fast growing industry.

In his presentation, Bseisu, will talk about Takaful’s potential for growth, suggesting key success factors needed in order to overcome challenges faced by the industry.

Ashraf Bseisu General Manager - Solidarity

”The Takaful industry is entering a critical period in its development and important steps will have to be taken to ensure that it can overcome these challenges. Solidarity’s participation at the WIBC in Bahrain emphasises its commitment to the international financial services industry. Being a Bahrain-based company, and a member of Ithmaar banking group, our participation in this prestigious world class conference stems from a desire to strengthen the Kingdom’s image as the centre of financial services in the Middle East,” said Bseisu.

Tyabji will speak at a session entitled Combating Competitive Pressures, Product Innovation and Sustaining the Grouwth Advantage, “Times are going to get more challenging and interesting for Islamic banks in the coming years,” he commented.

The Ithmaar banking group’s participation includes an informative stand at the WIBC 2007 exhibition, which will provide information about its various members and affiliates, including Bahrain-based Ithmaar Bank, Shamil Bank, Solidarity, First Leasing Bank and Ithmaar Developing Company, Swiss-based Faisal Private Bank and Pakistan-based Faysal Bank Limited.