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The IFSB Global Summit to Discuss Islamic Finance for Sustainable Development in the Era of Technological Innovations

Date posted: 30 May 2019

30 May 2019, Kuala Lumpur, Malaysia – The Islamic Financial Services Board (IFSB) is pleased to announce that the 14th edition of the IFSB Global Summit will be held from 12 to 14 November 2019 in Jakarta, Indonesia. Bank Indonesia is hosting the Summit, in conjunction with the Indonesia Sharia Economic Festival (ISEF) which will be held on 12 – 15 November 2019. A Memorandum of Understanding (MoU) has been signed by Bank Indonesia and the IFSB which signifies the collaboration and commitment of both parties in ensuring the success of this landmark event.

The theme is “Islamic Finance for Sustainable Development in the Era of Technological Innovations”. The IFSB Summit provides an important platform that brings together esteemed delegates to explore current developments and the future outlook of the IFSI in charting the new frontier of Islamic finance and to address key challenges in order to be ahead of the curve in this digital era. The potential and ongoing efforts to tap into the synergy between Islamic finance and technological advancements through for instance, regulatory sandboxes has greatly driven the financial landscape to a new frontier. The biggest imprinted landscape i.e. Internet of Things (IoT) has given rise to the digital economy which has redefined technological innovation within the financial industry, manifest in Fintech, InsureTech, SupTech, Regtech and many others.

Among the topics of discussion are:

  1. Leveraging Islamic Finance to Enhance Socio-Economic Inclusion and Sustainable Development
  2. Mainstreaming Islamic Finance through Technology: Building a Robust Regulatory Eco-System
  3. Broadening Access and Resilience in Digital Islamic Finance: Opportunities and Challenges
  4. Emerging Technology and Innovation in Islamic Finance: Opportunities and Risks, and
  5. The Way Forward for Islamic Finance

H.E. Dr. Perry Warjiyo, Governor, Bank Indonesia said, “Bank Indonesia is pleased to welcome our peers among the leaders and stakeholders of the global financial community to Jakarta.” He added, “Bank Indonesia is a Full and Founding Member of the IFSB and is one of the Council Members of this standard-setting organisation. We are proud that Indonesia is hosting the Summit this year. The prestigious Summit’s activities and quality exchange among the high level delegations and experts in the field will strengthen the position of our sector among the top players in the field.”

Dr. Bello Lawal Danbatta, the Secretary-General, mentioned, “I am delighted that the 2019 Summit is being held in Indonesia, which Bank Indonesia is munificently hosting. Indonesia emphasises Islamic economics and finance as its global agenda towards achieving Sustainable Development Goals (SDGs). Therefore, hosting this Summit attests to Indonesia’s numerous notable efforts at becoming a global leader of Islamic economic and financial development.” He further added, “As an important high-level platform for the key regulators, market players and thought leaders of the global Islamic financial services industry, the IFSB Summit discusses issues relevant in the regulatory direction of the industry, with the mutual aim to further strengthen its resilience and stability.”

The IFSB Summits aim to bring together industry leaders and experts from across the globe. In particular, participants of the previous Summits have included key players of the Islamic financial services industry (IFSI), especially members of the IFSB from among regulatory and supervisory authorities, international inter-governmental organisations, scholars in the field, and market players.

More information about the 14th IFSB Summit is available on the website: https://www.ifsb.org/IFSBS2019/index.php. Enquiries on participation and sponsorship opportunities can be forwarded to ifsb_sec@ifsb.org.

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