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16th Islamic Financial Services Board Summit – Islamic Finance and Financial Stability in an Evolving Environment : Navigating Emerging Risks

November 21, 2023 @ 8:30 AM – 3:00 PM

Programme – Event Session(s)

Date Time Topics
Day 1
21/11/2023		 08:30 – 16:30 Exhibition
08:30 – 09:30 Pre-Summit Registration, Welcome Coffee and Networking
09:30 – 09:45 Plenary Session : Opening and Welcoming Address
09:45 – 11:15 Pre – Summit Event 1: Members and Industry Engagement Session
Presentation on the Achievement of the IFSB in the Past 20 Years
 
The presentation looks at the achievements of the IFSB over the past 20 years across its various objectives, including standards development, research, implementation, awareness-raising, and membership.
 
Speaker
  • Dr. Bello Lawal Danbatta, Secretary-General of the IFSB

Interactive Session on Highlights of the Islamic Financial Services Industry Stability Report 2023, Way Forward and IFSB Roles

Speakers
  • Dr. Bello Lawal Danbatta, Secretary-General, IFSB
  • Mr. Suhail Issa Al Zadjali, Assistant Secretary-General, Resources, IFSB
  • Acting Assistant Secretary-General, IFSB
11:15 – 11:30 Coffee Break and Networking
11:30 – 12:45 Pre-Summit Event 2 : 5th IFSB Innovation Forum

Digital Innovation and Transformation of Islamic Finance: Trends and Opportunities

This session aims to provide a forum for market players to demonstrate how fintech innovations can help the Islamic financial services industry align Shari’ah-compliant financing alternatives with green and sustainable development. The session will highlight key players in the market that have developed innovative approaches in the fintech market with the objective of meeting the needs of the green or sustainable finance agenda.
 
This Forum is an effort by the IFSB to bring together Islamic finance stakeholders to focus on promoting and developing innovative Islamic finance solutions, vital to creating the competitive edge needed to sustain the IFSI going forward.
 
 
12:45 – 14:00 Lunch and Networking
14:00 – 15:15 Pre-Summit Event 3 : Industry Dialog Partner 1 (Sponsorship Slot)
14:00 – 16:00 IFSB Summit: Pre-Registration
15:30 – 16:45 Pre-Summit Event 4 : Industry Dialog Partner 2 (Sponsorship slot)
Day 2
22/11/2023		 08:30 – 16:30 Exhibition
08:30 – 09:30 IFSB Summit Registration, Welcome Coffee and Networking
09:30 – 10:15 Plenary Session : 16th IFSB Summit Opening Video Presentation, Opening, Welcoming and Keynote Address
10:15 – 10:30 Inauguration of IFSB Annual Report 2022
10:30 – 11:00 Exhibition Walkabout
11:00 – 12:15 Summit Session 1: Islamic Finance Stability in a New Economy – Inflation, Volatility, and Rising Interest Rates

This session aims to highlight the following:

  • Global macroeconomic risks and the resulting build-up of financial sector vulnerabilities
  • Implications of the global macroeconomic risks for the resilience of the Islamic finance industry.
  • Critical areas for monitoring by authorities to safeguard financial stability
  • Policy challenges and prospects, international spillovers, and implications for the Islamic finance industry
12:15 – 13:30 Lunch and Networking
13:30 – 14:45 Summit Session 2 : Climate-related Financial Risks and Islamic Finance Regulation: Where we are and what’s next?

This session aims to highlight the following:

  • The regulation and supervision of climate-related financial risks
  • Impact of climate-related financial risks on Islamic finance
  • The progress made by regulators thus far and the various regulatory and supervisory approaches to addressing climate-related financial risks
  • Bridging the climate-financing gap through private-sector involvement
  • Leveraging Islamic finance for inclusive green finance initiatives
  • Areas for further work, including those relating to requisite data, taxonomy, and strengthening the monitoring and analysis of the potential impact of climate-related risks on financial stability in the IFSI
14:45 – 16:00 Summit Session 3: Financing Alternatives in Islamic FinTech

This session aims to highlight the following:

  • Models, developments and risks of Shari’ah-compliant alternative financing mechanisms in the FinTech market (e.g. BNPL, crypto assets, crowdfunding and P2P financing etc.)
  • Financial stability implications of financing alternatives in the Islamic FinTech market and various regulatory approaches taken by jurisdictions
  • Addressing Shari’ah non-compliance issues and Islamic finance specificities in regulating the market
  • Expected future trends and considerations for alternative financing solutions in the Islamic FinTech market
16:00 – 16:30 Coffee Break and Networking
18:45 – 21:30 Summit Gala Dinner
Day 3
23/11/2023		 08:30 – 15:00 Exhibition
09:30 – 10:45 Summit Session 4 : Innovation and Structural Changes in the Islamic Finance Industry: Regulating New Risks

This session aims to highlight the following:

  • New and emerging risks arising from digital innovation, including crypto assets, DeFI markets, and financial technologies for Islamic finance, and the regulatory and supervisory challenges
  • Considerations for policy-makers due to the structural changes in the industry due to digital innovation and managing potential risks, including operational and cyber risks, investor protection issues etc.
  • The implications for the financial stability of the IFSI due to greater interconnectedness and cross-border activities
10:45 – 11:00 Coffee break and Networking
11:00 – 12:15 Summit Session 5 : Financing Alternatives in the Islamic FinTech Market: Prospects, Opportunities and Regulatory Perspectives

This session aims to highlight the following:

  • New models and developments in Shari’ah-compliant alternative financing mechanisms in the FinTech market (e.g. BNPL etc.)
  • Challenges and issues faced by market players in the development and growth of Shari’ah-compliant alternative financing mechanisms
  • Expected future trends and considerations for alternative financing solutions in the Islamic FinTech market
12:15 – 13:30 Summit Session 6 : Strengthening the Resilience of the IFSI in a Changing World: The Way Forward

This session aims to highlight the following:

  • The role of the IFSB and other international Islamic standard-setting organisations and international bodies in ensuring the resilience of the IFSI in an evolving global environment
  • Roles and policy direction for regulatory authorities in the IFSI in a rapidly changing financial sector landscape due to financial innovation and structural changes in the industry
  • Roles of market players in the IFSI in a changing and innovative world
13:30 – 15:00 Lunch

Downloadable Document(s)

  1. Event Session(s) – PDF Format

Details

Date:
November 21, 2023
Time:
8:30 AM – 3:00 PM
Event Category:
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