AAOIFI-IsDB 20th Annual Islamic
The 20th edition of the AAOIFI-IsDB Islamic Finance and Banking Conference will address the most pressing issues and latest developments in the global economy that are reshaping how Islamic financial institutions and other stakeholders respond to transformative forces, particularly artificial intelligence (AI) in multiple areas such as business operations, Shari’ah compliance and the mobilisation of human and technological resources.
In the meantime, the newly emerging forces and advancements are observed to carry certain critical and ethical concerns related to fairness, transparency and accountability in AI-driven finance. Therefore, it has become essential to assess the way Islamic finance industry can adopt new technologies in promoting inclusive and sustainable economic growth, while remaining aligned with the objectives of Maqasid Al-Shari’ah.
In a rapidly evolving business and regulatory landscape, this edition of the conference also aims to emphasise on the importance of practical understanding of Islamic finance particularly for empowerment of individuals and professionals to attain the basic knowledge and skills necessary not only to engage in the field, but also to embrace its ethical principles and integrate it into everyday operations and decision-making.
Additionally, the conference will highlight the importance of raising awareness about the value proposition of Islamic finance among micro, small, and medium-sized enterprises (MSMEs).
With Islamic banking claiming the lion’s share in terms of the financing provided to different economic sectors, the need arises for enhancing awareness of the value proposition of Islamic finance, through its other venues, by providing financing to MSMEs as a cost effective and affordably accessible alternative to the traditional financial intermediation. This includes the access that can be provided to MSMEs by Islamic capital markets through a variety of products and services, as well as the main Shari’ah compliant financing solutions offered to MSMEs for promoting and strengthening of their activities.
On a corresponding note, it will lay hands on the key business and regulatory challenges hindering a wider deployment and utilisation of these techniques.
