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TORONTO - June 30, 2010 - UFANA's G20 Islamic Finance Summit, co-organized by Ryerson University's Ted Rogers School of Business and Institute of Housing and Mobility, was held on Monday, June 28. Eight expert speakers took part in two panel discussions.  The summit was opened by Derek Lee, federal member of parliament for Scarborough-Rouge River.

The first panel provided an introduction of Islamic finance with a brief discussion on the fundamentals that govern Islamic finance.  The panel also provided an overview of the Islamic financial instruments used in North America. There was a detailed discussion on mortgage finance, Islamic banking, investment vehicles available for personal finance, as well as investment and development finance.
 
The second panel focused on Islamic Finance and the global economy. Islamic institutions weathered the credit crisis better than their conventional counterparts. However, Islamic and conventional banks "breathe the same air and swim in the same water" and Islamic players were not immune from the ravages of the crisis. This panel explained the reasons behind the resilience of Islamic banks, some of their fault lines in contemporary practice and how Islamic principles can assist in strengthening the still fragile global economy.

The audience had the opportunity to pose questions after each discussion.