Saudi Arabia Hosts Summit For Islamic Financial Innovation and Digital Transformation

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The 15th Islamic Financial Services Board (IFSB) Summit in November will put the spotlight on ways to foster innovation, technological adoption, accessibility and sustainability in the Islamic financial system.

The biennial event for global industry leaders and professionals will take place on 9 to 11 November 2021 in Jeddah, Kingdom of Saudi Arabia, hosted by the Saudi Central Bank (SAMA).

This time the theme is ‘Islamic Finance and Digital Transformation: Balancing Innovation and Resilience’ with a focus on boosting the growth and development of Islamic finance. There will also be a focus on policy implications arising from rapid digital transformation.

Fahad AlMubarak, the Governor of the Saudi Central Bank, said: “We in Saudi Arabia have the pleasure to host the 15th Summit of the Islamic Financial Services Board. The Kingdom is home to the largest Islamic Finance market in the MENA region and amongst the G20, and is continuing to grow and develop in the digital age. The Summit remains a unique opportunity for decision-makers and market players alike to exchange experiences and hold discussions on current and emerging matters of Islamic finance”.

Details of the Summit

The Summit will also highlight the work that needs to be done to strengthen Islamic finance services’ resilience and stability.  Other topics include digital transformation of Islamic financial services, crypto-assets and their implications for Islamic finance. In additional, attendees will discuss the effective use of supervisory and regulatory technology by authorities.

Dr. Bello Lawal Danbatta, the IFSB secretary-general, said: “The IFSB Summit, a landmark event for the Islamic financial services industry, constitutes a major high-level platform for key regulators, global market players and thought-leaders, to discuss issues relevant to steering the regulatory direction of the industry with the aim to further strengthen its resilience and stability.”

Previous Summits have included members of the IFSB from regulatory and supervisory authorities, international intergovernmental organisations and market players. You can email for participation and sponsorship opportunities.

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