GERSTEN SAVAGE CHAIRS, SETS THEMES
FOR ISLAMIC FINANCE CONFERENCE

Islamic Finance in North America examined  
Islamic banking, Shariah-compliant investing

NEW YORK, October 29, 2007 – Understanding and communications are fundamental themes that will drive Islamic commerce worldwide, according to Eric Roper, a senior partner and chairman of the hedge fund practice at law firm Gersten Savage LLP, in his introduction to a recent conference in New York that focused on Islamic finance.   

"An understanding of the basic concepts and the differences between Islamic and non-Islamic commerce will allow financial institutions to make Shariah-compliant solutions work," Roper said in his opening remarks to Islamic Finance in North America: Accessing Innovative Islamic Investment Opportunities, held Oct. 24-25 and organized by Finance IQ and Shariah Capital, Inc.  Roper served as a chairman and moderator at  the conference.

Islamic Finance in North America brought together leading experts on the regulatory and financial aspects of the Islamic banking industry and Shariah-compliant investing.  Featured speakers included noted Shariah scholars Sheikh Yusuf Talal DeLorenzo and Sheikh Nizam Yaquby, and Eric Meyer, chairman and CEO of Shariah Capital, Inc.

As an advisor and counsel to Shariah Capital, which is listed on the AIM market of the London Stock Exchange (SCAP), Roper has worked with the firm to develop its Shariah-compliant hedge fund vehicles.  Gersten Savage, one of New York's top five independent law firms, specializes in securities regulation, corporate law and finance.

One of the fastest growing segments of the financial services industry, Islamic banking is expected to grow 15% annually, reaching approximately $3 trillion in the next decade, the conference noted.

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