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ACCA Pakistan Hosts Islamic Finance Debate

WebEx seminars consider opportunities provided by economic conditions

London, United Kingdom, December 03, 2009 --( ACCA Pakistan hosted a series of Islamic finance seminars via WebEx in Lahore, Karachi and Islamabad on 24 November.

The event, which is yet another example of ACCA’s contemporary and modern thinking, considered how the global economic crisis has presented an unprecedented opportunity for Islamic finance to establish itself as a truly global leader in the financial services industry, thereby realising its full, unique potential.

The event's seminars featured speeches by Dr Afra Sajjad, ACCA Pakistan head of education and policy development, and Aziz Tayyebi, ACCA financial reporting officer and ACCA representative on the Federation of European Accountants' (FEE) Task Force on XBRL and UKTI Accounting Sub-group on Islamic finance. Both led the discussion on the success of Islamic finance in the current economic conditions and ways to bridge this gap.

"Islamic finance is an increasingly viable route for access to finance – because of its appeal as a potentially ethical form of finance, it has attracted attention in current economic climate," commented Dr Afra Sajjad. "The impressive growth of 10–15% per annum seen in recent years emphasises the potential market for such products.

"Today we have tried to stimulate a discussion around the future of Islamic finance as a mainstream financial service globally and in Pakistan."

The seminars were very well received, with 55 ACCA members participating in Lahore, 42 in Karachi and 30 in Islamabad.

For further information, please contact:
Helen Thompson, ACCA Newsroom
+44 (0)20 7059 5759
+44 (0)7725 498654

Andrew Swailes, ACCA Newsroom
+44 (0)20 7059 5823
+44 (0)7525 392535

Colin Davis, ACCA Newsroom
+44 (0)20 7059 5738
+44 (0)7720 347 713

Notes to Editors

ACCA is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management. We have 362,000 students and 131,500 members in 170 countries worldwide.

ACCA has worked with governments, national organisations and development agencies in emerging economies- for over 20 years- promoting the accounting profession, to create value for the communities, businesses and individuals it serves.

ACCA believes that globalisation of business means that one set of reporting standards is essential. We favour the principles-based IFRS.

ACCA understands the real issues facing small businesses as 63,000 of our members work in SMEs or small partnerships worldwide.

Contact Information
Matthew Gazeley
+44 (0)20 7462 8961

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