United Arab Emirates, 12th April 2011: Mashreq Al Islami, the Islamic banking division of Mashreq announced its sponsorship of the Middle East Islamic Finance & Investment Conference (MEIFIC) 2011 as a Gold Strategic Partner.

Held under the theme "Successfully Adapting to New Market Realities for Islamic Finance in the Middle East", the 1st Annual Middle East Islamic Finance and Investment Conference (MEIFIC 2011) is set to begin on the 12th of April 2011 at Dusit Thani.

Moinuddin Malim, CEO of Mashreq Al Islami introduced the 4th session of the conference under, 'Assessing the Comparative Outlook for Wholesale and Retail Banking Services in the Middle East and participating as a panelist in session eleven under, 'Overcoming the Challenges to Kick-Start the Next Growth Curve for Islamic Finance in the Middle East'.

Malim commented, "Islamic banks need to focus on their delivery platforms and service quality in comparison with their conventional counterparts.  Unless, regulatory blockade prevent the conventional banks to offer Islamic services, Islamic banks will find tough competition from Islamic windows of conventional banks on services and delivery of products."

He continued, "Islamic finance is required to look at capitalizing on consumer demand for Islamic products and services.  Retail sector is fully geared up to serve the needs of consumers especially when it comes to saving and investment schemes or financing and fixed income investment opportunities.  Consumers generally spend their savings rather than creating saving scheme for retirement, or children education or other useful purposes.  Creating the habit of saving is both ethical and socially responsible venue where Islamic finance can play a greater part."

"Another wave of growth will come in the Middle East when we see buoyant domestic debt capital market whether it is conventional bonds or Sukuks.  This can be enhanced by having proper regulatory framework that encourages local issuers to tap domestic liquidity duly supported by local rating agencies." Malim added.

With its exceptional panel of leading industry CEOs and thought leaders, MEIFIC 2011 will be a high-profile platform to specifically focus on the opportunities and challenges that are forging the Islamic banking, finance and investment landscape in the region.

For more information on Mashreq Al Islami, please log on to www.mashreqalislami.com or call 04- 4244411.

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About Mashreq:
Mashreq is one of the leading UAE National banks in the UAE. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry, particularly in retail banking. Among its many firsts, it was the first to launch such products as travelers' cheques, credit cards and ATMs.

Mashreq has received numerous international awards such as the Best Bank in the UAE in 2008 from Euro money and various awards particularly for quality management. It's most recent acknowledgement was Best Consumer Internet Bank in Qatar 2009 & 2010, Best Consumer Internet Bank regionally by Global Finance Awards 2009 and Best Emerging Market Banks Middle East  by Global Finance Awards 2010.

As a leading financial Institution in the UAE Mashreq aims to be world class in every facet of its business, including its social responsibility to the community it serves. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.

© Press Release 2011