OREANDA-NEWS. December 01, 2010. The 17th International Conference on Islamic Banking was held in Bahrain from 22 to 24 November.

Azerbaijan’s TuranBank reports that his representatives have also participated in the World Islamic Banking Conference (WIBC) existing for nearly two decades. The 17th Annual WIBC continues the tradition of supporting growth, advanced experience and innovations in the industry and demonstrates the new records: in 2010 the event involved over 1,200 participants from 50 countries and more than 60 partners and sponsors.

On the eve of the conference the WIBC released Competitiveness Report. In general, it consisted of the three sections. The seminars were held on the following topics: Hedging & liquidity management in Islamic finance system; Management of investment funds on the Sharia norms; the Middle East in the debt market: restructuring, refocusing; a workshop on evaluation; Evolution of Murabah; Observance of Shariah; Perspectives of regulation;

Construction of a new paradigm of growth; Assessment of future trends and development of Islamic banking sector; Capabilities and levels of global growth in light of the economic recovery; Change of the nature of leadership under new economic conditions; Definition of the next stage of evolution of the industry; Young Islamic Funds & investments; Contradictions in Islamic Finances; Retail banking of the Islamic financial institutions, problems and opportunities; Women in Islamic finance; the role of the Islamic Corporation for Development of the Private Sector (ICD) in promoting Islamic finance; promotion of growth of Islamic finance in the Asian markets; Update of the regulatory framework and capacity for risk management; New approaches to ensure stability, recovery and growth of Islamic Banking and finance; Outlook, transition from crisis to recovery of sustainable growth - consideration of new realities in the global financial system and its implications for Islamic banks; Ways to branch-wise standardization; Standardization of market practices; Standardization of accounting; Islamic corporate and investment banking meetings at high level; the World Takaful - Report 2010; Making, restoration of Sukuk market; Retail operations of Islamic finance at high level; Exploring new international growth markets for Islamic finance.

Holding of the conference was also accompanied by the World Islamic Banking Exhibition.

To date TuranBank is cooperating actively with the ICD and the International Islamic Trade Finance Corporation (ITFC). TuranBank completed full market analysis and investigation on "Islamic Banking", which gave an opportunity to develop the concept of the bank in this direction. Under the concept, TuranBank prepares to apply retail direction on "Islamic Banking". The whole process of customer service in the Bank will be carried out through the window of "Islamic Banking". Application of banking products and services in TuranBank on the principles of Sharia will be implemented in stages.

Within "Islamic Banking" TuranBank will use primarily services on deposits, management of client resources, some types of financing, both in corporate and retailing direction. At the next stage the Bank expects to provide a full range of existing and innovative banking products and services on window "Islamic Banking".