SURVIVAL OF THE FITTEST.....

As activity slowed to a crawl last year, one joke making the rounds among Islamic finance professionals was that the only groups still making money from the industry were conference organisers. And no wonder. The rapid rise in the profile of Islamic finance and the ever-increasing amounts of money flowing into the sector have spurred equally impressive growth in dedicated conferences. Sukuk, private equity, real estate, project finance, hedge funds: as each and everything that could possibly be made Shariah-compliant became hotter, organisers have matched them with every forum, symposium, seminar or summit possible.

“The conferences focusing on Islamic finance, like the industry itself, has witnessed extraordinary growth, especially over the past three or four years, which has seen many generalist conference companies dabble in the market,” says David McLean, managing director of Mega Events, Dubai.

In the quarter to December last year alone, there were no fewer than 30 Islamic finance-themed conferences held in Asia, Europe and the Middle East. In London, last summer it was possible for a banker to network at least once a week through an Islamic finance event, which are as much about discourse as they are about the informal mingling of suits and ties.

But quantity does not always mirror quality. While attendees are reluctant to criticise any conferences publicly, the consensus is that the huge increase in the events has meant a decrease in the number genuinely productive and worth attending. Only a handful of conferences stand out when executives are asked what they won’t miss, come rain, shine or snow