SINGAPORE - SPEECHES - WIBC Singapore 2012

The Next Phase in Islamic Finance  

Ravi Menon

Managing Director, Monetary Authority of Singapore

Opening Address at the 3rd Annual World Islamic Banking Conference: Asia Summit

Grant Hyatt Singapore

5 June 2012

Dr Ahmad Mohamed Ali Al-Madani, President, Islamic Development Bank,
Your Excellencies, distinguished guests, ladies and gentlemen, good morning.
And to all our foreign guests, a warm welcome to Singapore.

An Increasingly Difficult Conjuncture

We are meeting here for the 3rd Annual World Islamic Banking Conference Asia Summit, at a time of increasing stress in the global economy and financial system.  (source)

SINGAPORE - EVENTS - Islamic banks 'can fill funding gap': S’pore Monetary Authority

www.thejakartaglobe.com -Islamic banks are priming themselves to capture a larger share of the global trade and project financing market, as European banks pull back funds to mend balance sheets back home.

The Monetary Authority of Singapore's (MAS) managing director Ravi Menon noted on Tuesday that trade and infrastructure development is naturally compatible with Islamic finance, which has a focus on supporting real productive activities.
At the World Islamic Banking Conference: Asia Summit in Singapore, he urged Islamic bankers to diversify into this space.  (source)