On November 9, 2022, the day before the IFPA Forum in Dubai, the IOFS Subsidiary – IFPA conducted a roundtable discussion on agri-food investment opportunities through Islamic finance, led by H.E. Prof. Yerlan A. Baidaulet, DG IOFS and Chairman of IFPA. The round table discussion was held at Dubai’s Department of Economy and Tourism (DET).
The main topic of discussion at the roundtable was the opportunities that IFPA members, particularly those from Central Asia, have in terms of attracting Islamic financial resources and investment, their access to the Central Asia region, the main mechanism of operation, the contracts used in the agri-food sector and how Islamic finance can be effectively used in food security by OIC countries.
The roundtable began with a keynote address by H.E. Prof. Yerlan A. Baidaulet, who has extensive Islamic finance experience and has written a book besides several articles on the subject. It was followed by a brief presentation on Islamic Economy Overview by Dr. Mohamed Ali, a Senior Partner of DinarStandard. Mr. Sohail Zubairi, Senior Adviser – Islamic Finance at DET who is an expert on Islamic banking, capital market and Shariah compliance made a specially prepared presentation on how Islamic finance contracts can be effectively used as tools for the food security purpose. He also responded to many questions from the delegates on technical aspects of Islamic financing strucures.
The delegation was comprised of its members primarily from Central Asia, and included Ms. Gulsum Kenenbayeva Head of International Memberships, IFPA, Mr. Konstantin Nevzorov, President of Oil and Fat Union of Kazakhstan, Ms. Aizhan A. Nauryzgaliyeva, President of Sugar & Food Processing Association, Mr. Raif Safin, CEO Amar Holding Group, Almat Berdenov, Director of Optograd Kazakhstan, Mr. Mohib Ahmet Khan, DG of ATYAB Services in Oman, Shareholders of Faravon Group of Companies and others.