The 4th International Conference for Accounting, Auditing & Governance March 9-10 Armani Hotel, Burj Khalifa, Dubai

UAE ACCOUNTANTS & AUDITORS ASSOCIATION

Under the patronage of His Excellency Eng. Sultan Bin Saeed Al Mansouri, UAE's Minister of Economy

Presents the 4th International Conference for Accounting, Auditing & Governance

March 9-10

Armani Hotel, Burj Khalifa, Dubai

DUBAI: February 18, 2014 - On March 9-10, the eyes of the Islamic world will be on Dubai as hundreds of professionals and business people gather in the emirate, for the 4th International Conference for Accounting, Auditing & Governance.

Organised by UAE's Accountants and Auditors Association (AAA), the conference will be held at Armani Hotel at the iconic Burj Khalifa Tower in Dubai, and the topic of discussion will be on ‘Accounting & Auditing in the Islamic Economy & Banking'.

“Among myriad of other objectives, the conference seeks to provide a platform for professionals to discuss and seek comprehensive solutions in order to support the sectors of both the Islamic economy and the national economy,” said Brigadier Saif Mohammed Saif bin Abed Al Muhairi, the Chairman of UAE's Accountants and Auditors Association.

Last year, His Highness Sheikh Mohammad Bin Rashid Al-Maktoum, Vice President, Prime Minister of the UAE and Dubai Ruler launched a plan to place the emirate firmly as the capital of the Islamic economy. The initiative was grounded on Dubai's establishment as an international centre for seven economic pillars, including Islamic finance, Islamic economic standards and certification, halal industries, halal tourism, the Islamic digital economy, Islamic art and design and Islamic information and education.

“Therefore the idea of this conference has emanated from the various recommendations made by investors and decision makers, to discuss the role that Accounting & Auditing profession plays towards supporting the trend and growth of Islamic Economy & Banking,” the Chairman said, adding “With its proximity to Asia, the Middle East and Africa, it makes great sense to host the conference in Dubai.”

Seen as a huge boost for Dubai's ambitions to be the capital of the global Islamic economy, the conference brings together over 500 delegates, ranging from government officers, decision makers, professors of administrative economic colleges, accountants, auditors, to researchers in the field of accounting & auditing, employees in the banking sector and stock markets analysts.

“As the major national and professional body tasked with overseeing the affairs of accountancy and audit in the country, we play an important role in contributing towards the building of the economy of the nation, and we feel honored to support the initiative by hosting this conference,” the Chairman added.

Recent reports show the Islamic finance industry will continue to grow driven by both demand and supply factors, and further facilitated by government agencies and financial regulators. The industry is forecasted to continue to chart double digit growth rates across all sectors, with total industry assets estimated to reach approximately $2.1 trillion and the total asset of Islamic banking sector to reach $1.6 trillion at end-2014.

Overall, Islamic finance in 2014 is set to experience another increased momentum, particularly in the sukuk market due to thriving interests of key global and regional financial centres in developing Islamic finance, including London, Hong Kong, Singapore, Luxembourg, Malaysia and Indonesia.

“We expect Islamic banks to grow faster than the conventional banking system and the overall banking growth to remain strong,” Brigadier Saif said.

The two-day event will also tackle the integration of international accounting and auditing standards under the realm of Islamic economy and also highlight the role of the Central Bank in the innovation and promotion of Islamic banking.

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