The Malta Institute of Management (MIM) and the Malta Union of Bank Employees (MUBE) are proud to announce the first seminar in Malta on Islamic Banking. This activity is one of a series as a result of the agreement signed by the two organisations.

Islamic financial services, is a global niche market which is growing at an extraordinary pace. As from the year of its inception in 1975, the sector has developed substantially with countries such as Bahrain, Dubai and Malaysia becoming major Islamic financial centres.

The UK Financial Services Authority estimates that globally, the size of Shariah compliant assets amounts to around $500 billion. In June 2006, UK Prime Minister Gordon Brown [then Chancellor of the Exchequer] called for Britain to become the international centre of Islamic finance.

Given the geo-political and strategic position of Malta, this area can be a great opportunity for the Maltese Economy. The sector of financial services has been a continuously growing sector in Malta.

Malta has the target of rendering the Financial Services Sector as its main contributor to the Gross Domestic Product with a contribution of 25 percent by 2015. The MIM and MUBE believe that this is not only an achievable target but Malta can go beyond.

Islamic Banking may be a great opportunity for Malta which would render Malta the largest Financial Services centre in the Mediterranean. In this light, the MIM and MUBE are organising a seminar to analyse whether Malta can tap into this Market. In order to analyse better one needs to understand Shariah law and Islamic banking issues. In this respect, Mr. El Sadi IMAM will explain to the participants the fundamentals of Shariah law whilst Mr Brian Kettell will explain in detail what Islamic banking is all about.

Brian Kettell has recently returned from working in Bahrain as an Adviser to the Bahrain Monetary Agency(BMA) (now the Central Bank of Bahrain). His work involved him in pioneering many of Bahrain's recent innovations in Islamic banking. Whilst working at the BMA he wrote the book 'Islamic Banking and Finance in the Kingdom of Bahrain'.

Prior to working at the BMA his banking background was acquired whilst working for the Arab Banking Corporation, also in Bahrain. He gained his earlier experience of financial markets whilst working for Citibank, American Express and Shearson Lehman.

Brian graduated with an M.Sc. Econ from the London School of Economics. He has published over 100 articles in journals, business magazines and the financial press with articles in Islamic Business and Finance, The Islamic Banker, The Central Banking Journal, Euromoney, The Banker, The Securities Journal and the International Currency Review.

He has published 13 books on banking and financial markets, including Islamic Sukuk: A definitive Guide to Islamic Structured Finance. He is the author of over 80 case studies, including 20 which relate to recent developments in Islamic Banking.

Brian has recently delivered a Sukuk training course for the UK Treasury Debt and Reserves Management Team. This team has been charged with developing the principles to be applied for the UK Government to become a sovereign Issuer of Sukuk.

The seminar will follow by a panel discussion by distinguished speakers, and shall discuss the possibility of creating a vision for Malta in Islamic banking. MUBE and MIM believe that this could be the start for a new vision in Malta and invite their members and the Financial Services Sector to take an active role in formulating this vision

The seminar shall be held on the 16th October 2007. Further information may be obtained from the Malta Institute of Management on 00356 2145 3097.