1st Annual Global Finance & Investment Conference which was held under the theme of “International Best Practices: Conventional and Islamic Finance Tools for MSMEs” highlighted the best international applications and the lessons learned from other countries.
Shahinaz Rashad, Executive Director of Metropolitan Training Academy, said the Conference targeted to foster the roles of international bodies in solving the main problems related to different financing tools including Islamic financing tools such as Ijarah and Sukuk.
Rashad affirmed the important role of micro, small and medium enterprises (MSMEs) in strengthening economy, reducing unemployment and alleviating poverty.
Submitting working papers addressing the real problems raised by the Egyptian, Middles Eastern and African finance communities will help MSMEs to grow and Egypt to regain its position in world markets, she added. She stressed the importance of stimulating Islamic finance and non-banking markets by attracting investors who search for risk-free financing tools.
The first day of the conference discussed the role of banking and non-banking sectors such as conventional and Islamic banks as well as financial lease, mortgage and direct investment companies in supporting MSMEs. Working papers were submitted addressing the main issues and providing practical solutions to help such enterprises face the current obstacles.
The attendees stressed the importance of raising awareness of businesses owners on the different kinds of financing schemes and the standards used by financial institutions to evaluate enterprises prior to financing them such as the governance rules. The Conference’s results and recommendations will be submitted to the Cabinet.
The second day of the conference included a symposium and training workshops on Islamic finance and sukuk as compared to conventional financing tools.
