IFSB to Host 22nd Islamic Financial Stability Forum and Knowledge Sharing Session at GFIEF 2024

Kuala Lumpur, 24 May 2024 – The Islamic Financial Services Board (IFSB), an international standard-setting body for the global Islamic financial services industry, has joined hands with Bank Negara Malaysia to become a Strategic Partner to the Global Forum of Islamic Economics and Finance (GFIEF) 2024. Under the patronage of the Ministry of Finance Malaysia, the international forum is scheduled for 28 and 29 May at the Kuala Lumpur Convention Centre (KLCC) in Malaysia.

In alignment with GFIEF 2024, IFSB will organise two free-to-register side events on 27 May 2024 at Hall 7A, KLCC. Details of the events are as follows:

1. 22^nd Islamic Financial Stability Forum
   • Time: 9:00am – 1:00pm
   • Programme Description: Themed ‘Stability and Resilience of the Islamic Financial Services Industry in an Evolving Risk Environment’, the annual IFSB forum consists of two panel sessions featuring experts’ discussions on the latest developments and growth trends in the global and regional Islamic finance sectors. The session aims to further address the industry’s capability to maintain its stability and sustain growth amid emerging challenges.
   • Speakers: Senior representatives from Bank Negara Malaysia, Bangko Sentral ng Pilipinas, Central Bank of Oman, Central Bank of the United Arab Emirates, Securities Commission Malaysia, Moody’s Ratings,  among others.
2. Knowledge Sharing Session with IFSB
   • Time: 2:00pm – 4:00pm
   • Programme Description: This open-door session on the topic “Growing Role of the Islamic Non-Bank Financial Sector in Advancing Financial Inclusion” will focus on the area of scaling microfinance initiatives to empower disadvantaged communities, developing innovative financial products, and navigating regulatory reforms to enhance non-banking financial institutions’ operational capacity. The session will highlight opportunities for public-private partnerships to support the growth and effectiveness of Islamic non-banking financial institutions.
   • Speaker: Datuk Professor Dr. Mohamad Akram Laldin, Member of Shari’ah Advisory Council, Bank Negara Malaysia

Meet IFSB at GFIEF 2024

As a key partner, IFSB will also participate in the GFIEF 2024 main event. Attendees are encouraged to visit the IFSB booth in the Exhibition Hall from 9:00am to 5:00pm for the opportunity to engage in presentations from IFSB representatives and gain insights into the latest industry standards and publications from the IFSB.

On 29 May, Secretary-General Dr Ghiath Shabsigh will be part of Panel Session 3 from 9:25am to 10:25am as a panellist. Focusing on ‘Advancing Global Cooperation to Propel Islamic Nations to a Better Future’, the session will delve into the importance of technological advancements, good governance, trade linkages, structural reforms, and international collaboration in enhancing the global financial architecture and leveraging opportunities for OIC member countries in Islamic finance.

GFIEF 2024 aims to bring together policymakers, business leaders, and financial service providers worldwide to engage in discussions and collaborations that will shape a future where Islamic economics and finance are crucial in promoting shared prosperity and equity. Among the leaders expected to be at the event are Malaysia’s Prime Minister Dato’ Seri Anwar Ibrahim and Minister of Finance II, Datuk Seri Amir Hamzah Azizan; Deputy Governor of Saudi Central Bank, H.E. Dr. Fahad Ibrahim Alshathri; and Minister of Finance of Indonesia, H.E. Sri Mulyani Indrawati.

For more information visit www.bnm.gov.my/gfief2024. To register for IFSB side events, fill in the form here.