The Egyptian Exchange (EGX) will participate in the first International Conference on Islamic Banking and Finance (ICIBF), hosted by Saudi Arabia.
EGX Chairman Mohamed Omran said in a press statement that he received an invitation from the Umm al-Qura University to preside over a discussion session about the competitiveness and the sustainability of Islamic banking.
The conference will be attended by the vice president of the World Bank’s Middle East and North Africa office, representatives of major global financial and banking institutions, including Merrill Lynch Wealth Management, Standard & Poor’s Financial Services, Islamic Development Bank (IDB), and many universities.
Despite the increased growth of this sector in recent years, there remains a need to establish a consensual framework to ensure the continuation of this growth, Omran said.
This framework should also ensure the employment of resources, not only to achieve growth and profitability, but also to contribute to sustainable development within the community, he added.
The meeting, headed by Omran, will include representatives of IDB, Bank Negara Malaysia and the University of Utah Valley, and the University of Oslo, Norway.
Omran is the Chairman of EGX and the Federation of Euro-Asian Stock Exchanges (FEAS) as well as a professor of finance at the Arab Academy for Science and Technology. Prior to his current job, Omran was a visiting professor in several research and academic institutions. He also served several years as an economist at both the Arab Monetary Fund in Abu Dhabi and the International Monetary Fund in Washington DC.