Unlocking Sustainable Finance: Insights from IoBM’s International Islamic Banking and Finance Conference 2023

The Institute of Business Management (IoBM) commenced its two-day International Conference on Islamic Banking and Finance (ICBIF) 2023, focusing on how Sharia-compliant finance contributes to sustainable economic development. Distinguished speakers such as Mr. Ghulam Muhammad Abbasi from the State Bank of Pakistan and Dr. June Kuncoro Hadiningrat, the Indonesian Consul General, along with Mr. Talib S. Karim, President of IoBM, graced the event.

CEOs from major financial institutions including Faysal Bank, Bank Alfalah, and BankIslami participated in the inaugural session, emphasizing the significance of Islamic financial institutions in driving sustainable growth. Discussions covered topics ranging from the role of Islamic finance in achieving Sustainable Development Goals (SDGs) to regulatory standards and challenges faced by non-bank Islamic financial institutions.

Guest of Honor, Mr. Ghulam Muhammad Abbasi, highlighted the global shift towards sustainable finance, stressing Islamic finance’s asset-backed nature and its focus on social and ethical considerations. Dr. Ishrat Husain, Former Governor of the State Bank of Pakistan, underscored the human-centric approach of Islamic banking and the need for product differentiation.

Mr. Talib S. Karim emphasized IoBM’s commitment to promoting sustainability through academic-industry linkages. The conference also witnessed the launch of the 14th Cambridge Global Islamic Finance Report 2023 by the Cambridge Institute of Islamic Finance (Cambridge IIF), UK, shedding light on key insights in the field.

With contributions from experts across the globe, including the Middle East and Malaysia, ICIBF 2023 provided a platform to explore diverse perspectives on sustainable finance and ethical investments.