As we continue to progress in contributing to the growth and development of the Islamic Finance industry, we remain grounded by th...
As we continue to progress in contributing to the growth and development of the Islamic Finance industry, we remain grounded by the realisation that we also have an opportunity to increase the awareness, as well the furtherance of knowledge of Shariah and its objectives.
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Maqasid al-Shariah were not meant to stand alone or taken in isolation, but rather were intended to be brought together in drawing...
Maqasid al-Shariah were not meant to stand alone or taken in isolation, but rather were intended to be brought together in drawing conclusions, where one policy would consider all the Maqasid instead of zooming into one.
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Barakah (blessings) in wealth comes from sharing profits.
Barakah (blessings) in wealth comes from sharing profits.
Dr . Omar Suleiman
Founder & President
Yaqeen Institute for Islamic Research
Wealth in Islam is not used in a ‘static’ sense as it is not an end in itself, but used as a means of reaping the bene...
Wealth in Islam is not used in a ‘static’ sense as it is not an end in itself, but used as a means of reaping the benefits through creating higher values from it. This can be attained through investments or contributing certain portions of it to family or society.
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Dr . Omar Suleiman
Founder & President
Yaqeen Institute for Islamic Research
The global regulatory framework functions in a pyramidical manner made of 3 layers, sitting at the top are the international insti...
The global regulatory framework functions in a pyramidical manner made of 3 layers, sitting at the top are the international institutions issuing guidelines for Shari'ah compliance, followed by the Central Banks that will pass these guidelines to the third layer who is represented by financial institutions that are required to undergo reporting exercises to the first layer to indicate their compliance measurements. The real question in relation to the creation of an idea Islamic financial institution is whether this entity can be created within this system or if it will need to detach itself and emerge beyond its supervision.
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Dr. Hakimah Binti Haji Yaacob
Shariah Board Member
Standard Chartered Bank Malaysia
Shari'ah Decision Making today differs from the past in 4 key areas: 1. SDM today is very systemic compared to the past, comprisin...
Shari'ah Decision Making today differs from the past in 4 key areas: 1. SDM today is very systemic compared to the past, comprising boards, standards, and frameworks, 2. The Islamic banking industry has shifted towards no confinement to one single school of thought, 3. Regulation and governance has led to enhanced processes that ensure proper implementation of verdicts such as external Shari'ah audits and regular checks, 4. Fatwa today is institutionalised and not just exclusive to one person but to a council.
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Mufti Muhammad Abdul Mubeen
Group Head of Shariah Department
Standard Chartered Bank & Shariah Board Member SCB Pakistan and Malaysia
The assessment of cryptocurrencies and digital assets from an Islamic jurisprudence perspective must be informed by an analy...
The assessment of cryptocurrencies and digital assets from an Islamic jurisprudence perspective must be informed by an analysis of long-term socio-economic implications as well as full-consideration to the risks of its emerging nature. The viability or non-viability of some forms of digital assets cannot motivate a single ruling for or against all forms of digital assets.
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The post-COVID-19 era is an opportunity for the Islamic banking industry to carefully carve its branding and distinctiveness by be...
The post-COVID-19 era is an opportunity for the Islamic banking industry to carefully carve its branding and distinctiveness by becoming a leading agent of positive change for the whole financial system, and to operate within a network economy that is built upon shared values of integrity, responsibility, inclusivity, and sustainability.
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Dr. Salim Al-Ali
Internal Shariah Supervision Committee Member
Standard Chartered Bank
When considering Shari’ah governance in Islamic banking windows, it is worth distinguishing between salient Shari’ah r...
When considering Shari’ah governance in Islamic banking windows, it is worth distinguishing between salient Shari’ah requirements that are constant and immutable and governance controls, which lend themselves to proportionality.
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Dr. Ahcene Lahsasna
Chairman Internal Shariah Supervision Committee
Standard Chartered Bank UAE & Shariah Board SCB Malaysia
Shari’ah provides a set of articulated strategic values that guide leaders in making critical decisions. When a seemingly pr...
Shari’ah provides a set of articulated strategic values that guide leaders in making critical decisions. When a seemingly profitable strategy violates a core Islamic value, the solution is not to abandon the value, but to find a better strategy that allows for the fulfilment of both aims.
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The Islamic banking sector will see the rise of 3 key industry trends -Shariah governance, retail transformation and the convergen...
The Islamic banking sector will see the rise of 3 key industry trends -Shariah governance, retail transformation and the convergence of Islamic finance and the Halal economy.
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Islamic finance is all about the efficient and effective mobilisation of capital for the real economy. It must promote leadership,...
Islamic finance is all about the efficient and effective mobilisation of capital for the real economy. It must promote leadership, sustainability and the opportunity of the digital economy.
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Values-aligned financial services are more possible today than before with FinTech which enables both new business models through...
Values-aligned financial services are more possible today than before with FinTech which enables both new business models through data and provides unprecedented, efficient access to customers, and that makes for an exciting future.
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It is quite disheartening to see that we have not learnt from our mistakes. Disruption can be good in that it gives us an opportun...
It is quite disheartening to see that we have not learnt from our mistakes. Disruption can be good in that it gives us an opportunity to reset, rethink, recalibrate and restructure.
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Dr. Ziyaad Mahomed
Associate Dean/Director, Executive Education & E-learning
International Centre for Education in Islamic Finance (INCEIF)
The role of Islamic banks today is not only to serve as a financial intermediary but to also intermediate the creation of social a...
The role of Islamic banks today is not only to serve as a financial intermediary but to also intermediate the creation of social and economic benefits.
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Islamic finance is compatible with sustainable finance. The challenge lies in the scarcity of data and identifying where the risk...
Islamic finance is compatible with sustainable finance. The challenge lies in the scarcity of data and identifying where the risk is located.
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There is building pressure on businesses to adhere to sustainability practices as there is a big demand for sustainable practices...
There is building pressure on businesses to adhere to sustainability practices as there is a big demand for sustainable practices globally and domestically from investors.
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Hamim Syahrum Ahmad Mokhtar Ahmad Mokhtar
Deputy Director
Islamic Banking & Takaful Dept, Bank Negara Malaysia
Finance can and should always be a force for good.
Finance can and should always be a force for good.
We must remember that Islamic finance exists to serve people and communities, not numbers, and we should design our products accor...
We must remember that Islamic finance exists to serve people and communities, not numbers, and we should design our products accordingly. Web3 offers Islamic finance a new horizon for sustainable impact but comes with immense uncertainty and responsibility.
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Technology-driven sustainability is going to be the new crypto from an investment perspective and should drive our offerings in th...
Technology-driven sustainability is going to be the new crypto from an investment perspective and should drive our offerings in the Islamic economy.
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Blockchain technology has the potential to improve Halal integrity control in supply chain networks of Halal-certified brand owner...
Blockchain technology has the potential to improve Halal integrity control in supply chain networks of Halal-certified brand owners.
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Planetary Health and Sustainability are vital to our continuing existence. The Islamic Economy has both the solutions and the pote...
Planetary Health and Sustainability are vital to our continuing existence. The Islamic Economy has both the solutions and the potential impact to resolve this enormous challenge.
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Islamic finance is beautifully positioned to play its part in creating a real impact in the Halal Economy. The adoption of SDGs in...
Islamic finance is beautifully positioned to play its part in creating a real impact in the Halal Economy. The adoption of SDGs in our strategies will be a strong enabler. Success in this stage of acceleration can be measured by the level of resources mobilized for each industry sector.
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The essence of sustainable finance is to align people’s financial activities with their values. The Islamic finance industry...
The essence of sustainable finance is to align people’s financial activities with their values. The Islamic finance industry is, today, expanding its mandate from religious compliance to broader sustainability which is a natural - and important - step for both Islamic finance stakeholders and the broader ESG community.
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Islamic finance has developed from the start as a values-based form of finance. It is becoming more closely integrated into the re...
Islamic finance has developed from the start as a values-based form of finance. It is becoming more closely integrated into the responsible finance market and it supports a more inclusive approach that is beneficial for Islamic markets and the wider financial sector.
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There is no contradiction between Environmental Social and Governance (ESG) and Islamic finance. The ESG framework sits right at t...
There is no contradiction between Environmental Social and Governance (ESG) and Islamic finance. The ESG framework sits right at the core of Islamic finance and Islamic economics as a whole.
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Dr. Ziyaad Mahomed
Associate Dean/Director, Executive Education & E-learning
International Centre for Education in Islamic Finance (INCEIF)
As Covid-19 continues to have a wide-ranging impact across the globe, it is important to understand the impact that the pandemic h...
As Covid-19 continues to have a wide-ranging impact across the globe, it is important to understand the impact that the pandemic had on the most marginalised including persons with disability, women, unemployed youth, the elderly, endogenous people, ethnic and racial minorities.
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AHMAD HAFIZ ABDUL AZIZ
World Bank
There is a lack of institutions that provide financing to those with no credit history or entrepreneurial background, making it ha...
There is a lack of institutions that provide financing to those with no credit history or entrepreneurial background, making it hard for certain segments of the society to access financial solutions.
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The trend in the market is to now shift towards the offering of more unique and sustainability-related investment products. T...
The trend in the market is to now shift towards the offering of more unique and sustainability-related investment products. To promote social inclusion, products also need to be accessible, economical and easily comprehensible by the general public.
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Syhiful Zamri Abdul Azid
Maybank Asset Management SB
Whether it is climate change or a pandemic, this is instigated by human behaviour and in order to mitigate this, we need to unders...
Whether it is climate change or a pandemic, this is instigated by human behaviour and in order to mitigate this, we need to understand Maqasid Shariah and channel it to create behavioral changes on individual and community levels.
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Crisis and finance, when put together, they shape global behaviour at all community levels.
Crisis and finance, when put together, they shape global behaviour at all community levels.
It is quite disheartening to see that we have not learnt from our mistakes. Disruption can be good in that it gives us an opportun...
It is quite disheartening to see that we have not learnt from our mistakes. Disruption can be good in that it gives us an opportunity to reset, rethink, recalibrate and restructure.
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Dr. Ziyaad Mahomed
Associate Dean/Director, Executive Education & E-learning
International Centre for Education in Islamic Finance (INCEIF)
Sustainability is a journey. Companies that have moved to ESG-related business models have seen returns that outperformed those wi...
Sustainability is a journey. Companies that have moved to ESG-related business models have seen returns that outperformed those with no such models in various cases. Innovation will be the key for the long run.
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The role of Islamic banks today is not only to serve as a financial intermediary but to also intermediate the creation of social a...
The role of Islamic banks today is not only to serve as a financial intermediary but to also intermediate the creation of social and economic benefits
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It makes good business sense to invest in sustainability. The return of investment is very clear. It is now a matter of political...
It makes good business sense to invest in sustainability. The return of investment is very clear. It is now a matter of political will from the board of directors. We need to drive the message clearly, and start to think of business continuity in light of climate emergency.
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For the big industry players who want to expand their business, it is best to utilise Islamic financing solutions
For the big industry players who want to expand their business, it is best to utilise Islamic financing solutions
Whilst attitude towards more innovation is important, stakeholders of Islamic capital market must also understand the essence...
Whilst attitude towards more innovation is important, stakeholders of Islamic capital market must also understand the essence of Shariah in order to ensure that the innovation is also in line with the ultimate purpose of Shariah.
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We need to empower the scholars when examining the products to not only adhere to the halal requirements but also to consider...
We need to empower the scholars when examining the products to not only adhere to the halal requirements but also to consider the benefits for the environment and society.
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Prof. Dr. Mohamad Akram Laldin
Executive Director
International Shariah Research Academy for Islamic Finance (ISRA)
We face many challenges in having cross border transactions such as taxation and due diligence, therefore, we need to create...
We face many challenges in having cross border transactions such as taxation and due diligence, therefore, we need to create new technology solutions to facilitate these transactions.
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The Islamic financial institutions need to be united and complementing each other to have a greater market share
The Islamic financial institutions need to be united and complementing each other to have a greater market share
The true value of tokenisation lies in the concept of fractionalisation that allows fraction ownership of assets and smaller ticke...
The true value of tokenisation lies in the concept of fractionalisation that allows fraction ownership of assets and smaller ticket investments.
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The main reason behind OIC countries’ laggardness is social inequality and the inability of institutions to secure education...
The main reason behind OIC countries’ laggardness is social inequality and the inability of institutions to secure education, healthcare, and the basic standard of living for the people.
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