Ernst & Young to Re-Visit Critical Research Insights at WIBC 2010

As the international Islamic finance industry prepares to enter the next phase of growth, leading Islamic banks continue to re-adjust their strategies to achieve an enhanced and diversified business mix.

Coming at this crucial juncture, the 17th Annual World Islamic Banking Conference (WIBC 2010) will feature Ernst & Young providing a comprehensive update on two of their most significant reports released in 2010 - the Ernst & Young World Takaful Report 2010 and the Ernst & Young Islamic Funds and Investments Report 2010.

Presented by Ashar Nazim, Director and Head - Islamic Financial Services Group Advisory Services (IFSG), Ernst & Young Bahrain, this exclusive session will further analyze the key findings of the Reports and will discuss the latest developments since the launch of the Reports.

Exclusively launched at the World Takaful Conference annually, the Ernst & Young World Takaful Report features ground-breaking original research, probing into the key issues facing the Islamic Insurance Industry. The Report in its 2010 edition said that most Takaful operators are yet to achieve critical business volume, despite incurring substantial establishment costs. It is important that they rethink their strategies to achieve critical mass and become sustainable in the long run. According to the Report, Takaful operators are facing unique challenges in the areas of risk, retention, technical results, underwriting leverage, investment results and operating efficiency.

The Ernst & Young Islamic Funds and Investments Report (IFIR 2010) was launched at the 6th Annual World Islamic Funds and Capital Markets Conference (WIFCMC 2010). The Report which has established itself as an indispensable reference resource for Industry leaders builds on more than 400 unique insights from key players in all major financial markets. IFIR 2010 pointed out that there was a distinct shift in investors' preferences, and this required Islamic fund managers to adapt their strategies and operating models accordingly to meet the new levels of expectation. As fund managers try to re-discover the investors' preference, they are focusing on enhancing the quality of their offering, moving away from transaction-only approach to comprehensive wealth management.