Islamic securitization is becoming more of a buzzword as an increasing number of industry players head out to the Middle East to set up shop (ASR, 05/01/06). This year's 10th annual Information Management Network Barcelona global ABS summit will showcase a session on the Islamic market aimed at tapping a broader audience of securitization professionals and at bringing more clarity to Shariah compliance.

The growth potential is enormous as shown by the slew of firms either heading out to set up shop or beefing up their presence in the region. "Only a handful of international banks had a presence but now a huge number of first banks and now investment banks are moving into the field," said Michael McMillen, a partner at Dechert LLP and session facilitator for a panel on Islamic financing at next week's conference.

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