Leveraging on Islamic Finance for Sustainability, Innovation and Economic Development
The Islamic financial service industry has witnessed dynamic growth in the last decades. In the last 10 years, the industry has been doubling in size almost every 5 years. This growth trend will continue with a boost of interest from non-traditional Islamic finance markets, being at the forefront of introducing and developing Islamic financial services in their markets. Recent developments at the International Monetary Fund (IMF), ensuring financial stability in countries with Islamic Banking being systematically important, is yet another development milestone for the industry.
The General Council for Islamic Banks and Financial Institutions (CIBAFI) expects that the Islamic financial service industry will reach a size of $4 trillion by the end of 2020.
The 4th Mediterranean Islamic Finance Forum will be held in Barcelona, hosting a large audience of industry leaders seeking to take advantage of the high-growth prospects of Islamic finance across the Mediterranean. In this 4th edition, the Forum will examine how Islamic finance can play a key role in Mediterranean markets and will shed light on the potential areas of growth and the challenges for Islamic finance including Islamic banks, Takaful, and Sukuk. The forum also provides a strategic perspective to unlock a broader potential of Islamic finance and tap opportunities in the Mediterranean region. Also, the Forum will bring together a grand range of experts and industry practitioners to share their insights, thoughts, and innovative strategies.
21st November 2019
9:00 – 9:15
9:15 – 10:30
Official Opening of the Second Day of MedaWeek Barcelona 2019 and the Mediterranean Islamic Finance Forum
In this 5th Edition, the Mediterranean Islamic Finance Forum will examine how can Islamic Finance can be an opportunity for the Mediterranean countries. The Forum will offer a perfect networking platform for regulators, industry practitioners, business leaders and Shariah scholars to share their views and experience. This is a unique gathering in the city of Barcelona about Islamic Finance and Banking with a direct focus on the Mediterranean region.
10:30 – 11:00
11:00 – 12:30
Session 1: Islamic Finance in the Mediterranean & Africa: overview, analysis and emerging trends in the sector
With growing interests and high-growth prospects for Islamic finance across both traditional and non-traditional markets in Europe, Africa, and Asia, the Mediterranean region, in particular, may take the opportunity to gain momentum of this global trend. Islamic finance, with its primary objective being the promotion of economic prosperity and human welfare, may play a vital role in further economic development and fostering prosperity in the Mediterranean region.
- Overview of the opportunities and challenges for Islamic finance in the Mediterranean & Africa.
- The catalyst of a regulatory framework on sustainable development of Islamic finance in the Mediterranean & Africa.
- Islamic Banking in the region: Strengthening competitiveness and leading practices.
12:30 – 14:00
Session 2: Exploring the future of Islamic Banking through Innovation and strategic regional & international positioning
Islamic finance is a way of bringing together different Mediterranean actors, allowing them to benefit from untapped financial resources. It is also a way to access the business community of the Gulf countries. This session will introduce a wide banking network with practices such as Takaful and Sukuk, digital development and unique branding strategies.
- Exploring the potential of Sukuk in the Mediterranean: Market requirements and the key areas of Sukuk investments.
- Branding of Islamic finance: brand strategies to tackle challenges in marketing Islamic financial services.
- Financial technology and innovation: Islamic fintech, crowdfunding and Islamic start-ups, opportunities and challenges.
- Strategies to empower women roles in the development of Islamic finance.