GUST Organizes Kuwaiti Sukuk Market Seminar
The Department of Economics and Finance in collaboration with the MBA Office organized a well-attended seminar on 19th April, under the theme “Recent Trends and Growth Potential of Kuwaiti Sukuk Market” for faculty, students and the general public, on its campus. The seminar was organized by Dr. Khiyar A. Khiyar, Assistant Professor, and Dr. Khaled ElMawazini, Associate Professor, from the Department of Economics and Finance.
The seminar was opened by Professor Antonis S. Simintiras, Dean of College of Business Administration. He welcomed all six speakers and the audience and thanked them for their participation in the seminar. The prominent speakers came from different sectors of the industry who are experts in their profession, and hold key positions in their respective organizations.
In attendance was Dr. Mohammed Elian, Assistant Dean of the College of Business Administration, Dr. Kameleddine B. Benameur, Admission Director, Dr. Fida Karam, Head of Economics and Finance Department, in addition to faculty and students from the College of Business Administration. The Islamic Finance Club was the official Media Partner of the event.
The seminar discussed the importance of Sukuk as a financial instrument and how it might help corporations and sovereign countries to get liquidity from the local, regional and international markets as an alternative to the conventional bonds. Taping to this growing Islamic debt market is very important for sovereign, quasi-sovereign and corporate entities to diversify their sources of funding as no one knows today’s alternative becomes tomorrow’s mainstream, and the one who catches the wave wins.
The first speaker, Professor Saleh Al-Ali, Kuwait University, talked about the Sharia issues in Sukuk. The second speaker, Mr. Jamshaid Anwar Chattha, Central Bank of Kuwait, discussed the “Regulatory Perimeter of Sukuk and Sharia-compliant Securitization”. The third speaker, Mr. Abdulkadir Thomas, SHAPE Knowledge Services, shed light on “Three thoughts for Kuwait: Opportunities for Sukuk”. The fourth speaker, Mr. Mohammad Al-Duwailah, Kuwait Finance House, delved into “Sukuk Issuances & Trading”. And the last two speakers, Mr. Isam Z. Al Tawari, Newbury Economic Consulting, and Mr. Bader Al Ghanim, KAMCO, talked about the challenges facing the local Sukuk market and how Kuwaiti government and corporations can benefit from its fast growth.
After the six speakers delivered their presentations, the seminar concluded with a “Question and Answer” session giving the audience a chance to ask and comment on the issues raised during the presentations.
At the end of the seminar, Dr. Khiyar thanked the speakers for their outstanding presentations, on behalf of the Dean Professor Antonis S. Simintiras, as well as the audience for making the seminar a success. Finally, Dr. Khiyar and Khaled presented tokens of appreciation to all the speakers on behalf the GUST community.
The Department of Economics and Finance and MBA office have organized another similar seminar under the theme “Developing Kuwaiti Sukuk Market: Prospects & Challenges” in April 2016, led by Dr. Khiyar. The department aims to make this seminar an annual event for the College of Business Administration.
For more photos of the event, visit the GT Gallery: https://gt.gust.edu.kw/?q=node/397