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News and Events

News

International Islamic Financial Market and World Gold Council announce collaboration

Istanbul, 28th March 2018

The International Islamic Financial Market (IIFM) and World Gold Council led the IIFM-WGC Industry Consultative Meeting on Gold Documentation and Products Standardisation in Istanbul, Turkey. The meeting was hosted by Borsa İstanbul at their campus. Read more.

 

Past events

IIFM Seminar on Islamic Finance Markets

May 2018, Kuala Lumpur

The development of standardised Islamic documentation for the gold industry will be discussed at a panel session. Speakers include: 

  • Ijlal Ahmed Alvi, Chief Executive, IIFM
  • Dr. Aznan Bin Hasan, Associate Professor, Institute of Islamic Banking and Finance, International Islamic University of Malaysia
  • Andrew Naylor, Director-Central Banks and Public Policy, World Gold Council

More information can be found here: http://www.iifm.net/current-events/iifm-seminar-3

 

IIFM-WGC Industry Consultative Meeting on Gold Documentation and Products Standardisation

March 2018, Istanbul

The World Gold Council and the International Islamic Finance Market (IIFM) held an industry hearing at Borsa Istanbul to discuss the development of standardised Shari’ah compliant product documentation for the gold industry. The next stage of the project will consider the development of a Shari’ah-compliant gold allocation agreement, gold consignment agreement, guidelines for ETFs, and trade confirmations for swaps, forwards and futures. For more information click here: http://www.iifm.net/news-updates/international.

 

Islamic Finance News World Leaders Summit – Gold in Islamic Finance

March 2018, Dubai

A panel discussion was held on the role of gold in Islamic finance. Andrew Naylor, Director, Central Banks and Public Policy, provided an update on the AAOIFI Shari’ah Standard on Gold, recent product launches, and the role of gold in Islamic finance. 

 

World Islamic Banking Conference, IIFM Seminar

December 2017, Bahrain

The IIFM announced a feasibility study to consider the development of standardised documentation for the gold and Islamic finance industry. Speakers at the seminar included: 

  • Moinuddin Malim, Managing Partner, Alternative International Management Services
  • Andrew Naylor, Director-Central Banks and Public Policy, World Gold Council 
  • Habib Motani, Partner, Clifford Chance LLP
  • Selman Bayoglu, Treasury Marketing Manager, Kuveyt Turk Participation Bank
  • Hakan Aytekin, Manager, Precious Metals and Diamonds Market, Borsa Istanbul

 

Dubai Precious Metals Conference (DPMC) – AAOIFI Shari’ah Standard on Gold

April 2017, Dubai

A panel discussion bringing representatives from the bullion and Islamic financial services industry discussed the significance of the AAOIFI Shari’ah Standard on Gold and new gold investment opportunities for institutional investors. 

 

Launch of the AAOIFI Shari’ah Standard on Gold

December 2017, Bahrain 

The Shari’ah Standard was formally launched by the World Gold Council and AAOIFI at the World Islamic Banking Conference in Bahrain. The global launch was followed by a number of regional events including in Dubai and Kuala Lumpur (December 2016), Jakarta (January 2017) and Istanbul (February 2018). 

Prior to the Standard’s launch, several consultation events were held worldwide in 2015 and 2016. Speakers at these and the launch events included:

  • Ms Natalie Dempster, Managing Director, Central Banks and Public Policy, World Gold Council
  • Dr Hamed Merah, Secretary General, AAOIFI
  • Dr Daud Bakar, Executive Chairman, Amanie Advisors
  • Mr Erkan Kilimci, Deputy Governor, Central Bank of the Republic of Turkey
  • Mr Ahmad Alfisyahrin Bin Jamilin, Director, Shari’ah, Al Rajhi Bank Malaysia
  • Mr Hakan Aytekin, Manager, Precious Metals and Diamonds Market, Borsa Istanbul
  • Mr Selman Bayoglu, Treasury Marketing Manager, Kuveyt Turk Participation Bank
  • Ms Kurtulus Taskale Diamondopoulos, Director, Central Banks and Public Policy, World Gold Council
  • Dr Rifki Ismal, Director, Department of Islamic Economics and Finance Development, Bank Indonesia
  • Ms Maya Malek, Managing Director, Amanie Advisors
  • Mr Andrew Naylor, Director, Central Banks and Public Policy, World Gold Council
  • Mr Gerhard Schubert, Founder, Schubert Commodities DMCC