Our Blog

Next week, we will be in full force at the 3rd Annual Asia Islamic Banking Conference in Kuala Lumpur. We will be speaking on both days of the conference which runs 10 – 11 July, and we’ll also be chairing the second day of the conference.

Islamic Banking and Finance is estimated at well over USD$1 trillion, and is one of the most mature of the industries developing as part of the growth of Muslim and Muslim consumer markets.

It is driven by some clear religious principles which broadly speaking are covered by the necessity to avoid interest based transaction (‘riba’), the discouragement of goods and services that are harmful to mankind (ensuring ethical business), avoidance of oppression (‘dhulm’), avoidance of speculation (‘gharaar’) and avoidance of businesses that contradict Islamic values such as gambling and alcohol.

The complexities of the financial services in general, as well as the rapid growth and development of Islamic banking and finance, mean that communicating the product benefits and building relationships with the audience is still in its infancy.  Complex language and financial structures also make users unclear about what they are purchasing, and therefore confusion and scepticism thrive.

On the first day of the conference, Ogilvy Noor’s President John Goodman will be addressing this very thorny issue when it comes to Islamic Banking and Finance: “From doubt to devotion: overcoming Islamic finance sceptics and building consumer loyalty to Islamic brands”

On Day 2, Hendri Satrio, Ogilvy Noor’s lead in Indonesia will continue the theme of ensuring products and communications are clear and aligned in deed and spirit as far as users are concerned. His topic is:  “Don’t just talk ‘Islamic’, walk ‘Islamic’: understanding the importance of clear, transparent communication”

Hendri has also been invited to chair Day 2′s proceedings.

 

You can see here the full programme for the 3rd Annual Asia Islamic Banking Conference Programme.  We’ll also be live from the event.