This session will feature a discussion capital market institutions that are innovating in the area of Islamic finance for sustainable development. Speakers will include Islamic finance experts, exchanges, asset managers and standard setters in the area. The session will examine product innovation in this space, serving the underserved and unserved and chart the progress of Islamic finance in contributing to the achievement of the sustainable development goals.
Islamic finance is a multi-trillion-dollar industry that has been around for the last 40 years with unique practices which shares similar characteristics to ethical finance. Where previously the focus on the industry was of Sharia compliance there is now growing interest in looking at the positive impact of the investments in line with the objectives of Sharia (Maqasid), and its connection to the SDGs. This is made possible due to the emergence of environmental, social and governance (ESG) data that allows us to assess the transition of companies towards more sustainable business models as well as the impact they have on society.
Session themes:
- What are the key products in this area and what is the forecast for new products?
- What are market participants doing to promote Maqasid sharia?
- What is the data required to estimate the alignment of companies to the Maqasid values?
- What is the role of the next generation in the adoption of Maqasid sharia portfolios?
- What is the role of technology, and AI to assist in the development of the ecosystem?
- What are key challenges that need to be addressed in terms of regulation, Sharia standards?
