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ISLAMIC FINANCE AND VIRTUAL CURRENCIES: TO BE OR NOT TO BE?

by IE Global Alumni Relations

Off Campus Finance fintech

Thu, 17 May 2018

7:00 PM – 9:00 PM (GMT+5)

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Hyatt Regency Tashkent, Navoi St, 1 A, Tashkent, Uzbekistan

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Description

Last year, Saudi Arabia issued its largest Islamic finance-compliant bond on the Irish Stock Exchange, which became wildly oversubscribed, attracting more than $33 billion in orders. Many Western banks, including Citibank and HSBC set up dedicated Islamic Finance branches, while UK, Hong Kong, and Luxemburg issued their own Islamic bonds, or Sukuk. These are just a few examples of how popular the Islamic banking has become even in non-Muslim countries as an effective tool for financing development worldwide.

What particularly makes the Islamic finance so attractive among the investors is its emphasis on the real economy, since the investments must be made in things that exist in the real world, such as properties or businesses. The Islamic law is concerned about real assets and real economy, but is there any place for virtual currencies and FinTech in this complex system?

Prof. Emilio Escartin, who served as Head of Investments at Bahrain Development Bank and holds a Master’s degree in Islamic Finance, will explain what cryptocurrency is and what Islamic scholars think about it. He will also answer the important questions: are cryptocurrencies real or financial assets and can Islamic finance support the blockchain technology? At the master class, Prof. Escartin will share his experience on how FinTech can support and help Islamic financial institutions and whether FinTech Islamic finance is an opportunity to transform this technology into a social impact finance.



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Speakers

Emilio Escartin

Prof. Emilio Escartin is Adjunct Professor at IE Business School focusing on Islamic Banking and Finance.  He has 21 + years of experience in private equity, venture capital and investment banking (Islamic and conventional), having managed and launched 6 private equity funds in Europe and the Middle East. He has vast experience in Islamic banking and finance (Shari’ah Compliant) products having served as Head of Investments at Bahrain Development Bank. There, he launched the investment division from scratch and raised the first Islamic private equity fund for small and medium enterprises worth $130 mln and Al Waha VC Fund of Funds for a sum of $100 mln. He also managed the treasury desk and direct investment portfolio of the Bank. Prof. Escartin is a Board member of several companies in sectors such as food, manufacturing, financial services, healthcare and others; and serves as a mentor in CH-9 Incubator in Bahrain. He also appeared as a keynote speaker at many professional conferences across the MENA region. Emilio Escartin earned his Master in Islamic Finance from the Postgraduate Harvard Kennedy School of Government (Harvard University) and IESE Business School (Universidad de Navarra).






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IE Global Alumni Relations

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