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The IFSB’s 2^nd Innovation Forum Discussing 'Digital Transformation of Islamic Finance and other Innovative Solutions for Post-Covid-19 Recovery'

Date posted: 27 November 2020

27 November 2020, Kuala Lumpur, Malaysia – The IFSB is announcing that a 2^nd Innovation Forum, themed, Digital Transformation of Islamic Finance and other Innovative Solutions for Post-Covid-19 Recovery will be held on 30 November 2020 (15:30 – 18:30 MYT).

The Innovation Forum is an effort by the IFSB to bring together the Islamic finance stakeholders to focus on the promotion and development of innovative Islamic finance solutions, vital to create the competitive edge needed to sustain the Islamic financial services industry (IFSI) going forward.

According to the Secretary-General of the IFSB, Dr. Bello Lawal Danbatta, “The first Innovation Forum made its debut in 2019 as a pre-Summit event, during the IFSB’s 14^th Summit that was held in Jakarta, Indonesia. This is in-line with the IFSB's Articles of Agreement 4(d) which puts one of the objective of the IFSB as "to enhance and coordinate initiatives to develop instruments and procedures for efficient operations and risk management.” He further added, “This year, the 2^nd edition of the Forum will be organised virtually, coherently with the theme of digital transformation in Islamic finance, also showcasing the discourse of Covid-19 and the impact it brings to the IFSI.”

The Forum targets regulators, policy makers, Islamic financial institutions, start-ups and FinTechs, academic and research institutions, financial services providers, legal practitioners, Sharīʿah advisors and other interested stakeholders to enable an enriched discussion on enhancing the culture of innovative thinking and development in the IFSI. 

The participants will be able to interact with the presenters showcasing their innovative solutions and also discuss strategies for the widespread adoption and implementation of such solutions in different jurisdictional settings for the greater benefit of the industry. Hence, the topics of the discussions are:

• Sustainable Sukūk to Aid COVID-19 Recovery 
• Sovereign Green Sukūk and Cash Awqaf Linked Sukūk issuance

The 2^nd Innovation Forum is open to the public and participation is free. Please contact Ms Noor Azmah Mohd Yusof ([email protected]) for further information and to register, visit www.ifsb.org.