Follow us:       
Events & Activities

Event Category

Events & Activities > Event Details

  Event Detail

Category:Awareness Programme
Name:[EVE00647] 16th Islamic Financial Services Board Summit - Islamic Finance and Financial Stability in an Evolving Environment : Navigating Emerging Risks

Mark your calendar! 

We are thrilled to announce the 16th IFSB Summit, scheduled to take place on 21 - 23 November 2023 in the beautiful setting of Bandar Seri Begawan, Brunei Darussalam.
With the theme "Islamic Finance and Financial Stability in an Evolving Environment : Navigating Emerging Risks", the summit aims to bring together key policy makers and stakeholders to deliberate on issues pertinent to the resilience of the IFSI and the policy implications of new risks. The summit will also consider opportunities and benefits of embracing change and innovation in the Islamic finance industry and how they can be harnessed to bolster sustainable, inclusive, stable and resilient growth of the IFSI.
What Awaits You:
  • Engage yourself in high-level discussions on the IFSI's resilience and stability
  • Delve into the policy implications of emerging risks in the Islamic finance sector
  • Navigate through the global challenges, from macroeconomic shifts to technological transformation and climate-related financial risks
  • Assess the effectiveness of regulatory frameworks in addressing new industry challenges
  • Discover opportunities for growth and innovation within the Islamic finance sector
The 16th IFSB Summit is hosted by the Brunei Darussalam Central Bank (BDCB). The IFSB and BDCB look forward to the participation of the members of the IFSB, Economic/Financial policymakers and senior management from Ministries of Finance/Economic Development, Regulatory and Supervisory Authorities (RSAs), International Organisations (IOs), Institutions Offering Islamic Financial services (IIFS), Multilateral Development Banks, Academia, Market Players, and other relevant stakeholders.
Stay tuned for more updates and the opening of registration.
Start Date:21/11/2023End Date:23/11/2023
Venue Name:The Empire Brunei
City:Bandar Seri Begawan
Event Website: -

  Event Snapshots

  Programme - Event Session(s)

Date Time Topics
Day 1
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.
  • 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

  • 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
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
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
Disclaimer: Please be advised that the above mentioned agenda points are tentative and that the IFSB reserves the right to make any necessary amendments/changes to the programme without prior notification.

  Downloadable Document(s)

*Note: Click Document Name to view/download document

1.)  Event Session(s) - PDF Format

Back to top

Latest Press Release