During May and June, DDCAP participated both as a delegate and panelist at important events in Asia relating to Islamic finance in general, and liquidity / capital market developments in particular.
On May 5th Cassim Docrat, Director of DDCAP (DIFC) Limited, was invited as a panelist to the 30th Board of Directors Meeting of the IIFM held under the auspices of Bank Indonesia in Jakarta and, later that month, also participated as a panelist at the 2014 IFN Asia Forum in Kuala Lumpur. In early June during the World Islamic Banking Conference (WIBC) held in Singapore, we were fortunate to be invited to both the Pre –session hosted by IIFM as well as the formal conference itself, which is the key annual event in Asia highlighting Islamic finance developments and hosted by the Monetary Authority of Singapore.
DDCAP’s participation as a panelist at these sessions revolved around developments in the interbank market and the need to look at murabaha equivalent products so as to expand the range of liquidity instruments available in the Islamic space which has been an ongoing debate among industry professionals and regulators alike. Instruments/mechanisms such as a form of sukuk repo type facilities or asset backed banker’s acceptances with the collaboration of IILM or indeed the IDB, were some of the ideas debated and also the impact of automated delivery platforms as a means to promote transparency and efficiency in the market.
Our presence (and invitation) to these forums serves to highlight our commitment to industry in general and the growing confluence of the GCC and Asia in the Islamic space.