Dubai: The Secretariat-General of the Dubai Economic Council (DEC) will organise a workshop titled "Sukuk: nature and applications" on March 31 in Dubai.
A number of representatives of federal and local governments and the local business community will attend the event.
Additionally, representatives of Islamic financing institutions such as Dubai Islamic Bank, Dubai Financial Market, Abu Dhabi Securities Market, Emirates Islamic Bank, in addition to the UAE Central Bank will also participate in this workshop, DEC said in a press release yesterday.
"The workshop aims to enhance the sukuk market in the UAE and econ-omic policies aiming at enhancing the local business environment through strengthening and modifying the legal and regulatory framework," said Hani Al Hamli, secretary-general of Dubai Economic Council.
Al Hamli also said the workshop aims to highlight various economic and legitimacy issues related to sukuk. Dr Hussain Hamed Hassan, Chairman of Sharia Board, Emirates Islamic Bank, Dubai, Dr Mabid Al Jarhi, secretary-general, Fatwa and Sharia Supervisory Board, Dubai Financial Market, Dubai, and Dr Abdul Azeem Abu Zayed, Adviser, Emirates Islamic Bank, Dubai, Dr Abdul Satar Al Khuwaildi, Secretary-general, International Islamic Center for Reconciliation and Arbitration, Dubai, and Aymen A. Khaleq, Partner, Vinson and Elkins, Dubai, will present papers.
In 2007, the UAE topped sukuk issues with $33 billion (Dh121 billion) worth of sukuks compared to Malaysia's $31 billion. The UAE retained its leading position in 2008.
