São Paulo – On the 27th this month, the Arab Brazilian Chamber of Commerce is hosting the workshop Introduction to Islamic Finance and Capital Markets. The event will be conducted by Ângela Martins, the regional manager for Latin America of the National Bank of Abu Dhabi (NBAD).
The presentation will cover the workings of the Islamic financial market, its particularities and advantages over the traditional market, among other topics. “The Islamic financial industry coexists with the international financial industry. It handles large amounts of capital and one must know how to tap into it,” says Martins.
The executive notes that people in Brazil are largely unaware of the Islamic capital market, and stresses the need for local companies to learn about the system.
“The most important thing is, Islamic financial practices try to prevent speculation in every way possible,” says Martins regarding the governing feature of the system which abides by Sharia, i.e. Islamic law.
“Interest is regarded as speculation. Cash cannot generate cash, there needs to be an added value,” she explains. According to her, due to this restriction, operations carried out under this system are more complex and elaborate, but can also be more profitable. “Islamic operations can earn you more cash than non-Islamic ones, but you must take risks together with your client,” she says.
Martins explains that there are no fiscal regulations in place yet for businesses to engage in Islamic operations in national territory. However, she says, this does not constitute an impediment for Brazilian enterprises to adhere to the system.
“The businesses that may become interested in this market often own assets outside Brazil, and they may begin by using these foreign assets,” she says.
The workshop is for business executives only and registrations are subject to evaluation by the organisers. Participation is cost free.
Service
Workshop “Introduction to Islamic Finance and Capital Markets”
With Ângela Martins (in Portuguese)
November 27th, 9:30 am
Where: Arab Brazilian Chamber of Commerce
Avenida Paulista, 326, 11th floor, Bela Vista, São Paulo
For additional information and registration call (+55 11) 3147-4066 or send an email to tmachado@ccab.org.br.
Registration is free of charge and subject to analysis. Seats are limited.
*Translated by Gabriel Pomerancblum
