Experts stressed on adopting technology in Islamic banking services to face off challenges of upcoming fourth industrial revolution.
Local and international policy makers also mentioned the challenges and prospects of Islamic finance and sukuk, insights into the future direction of the halal industry, and opportunities for infrastructure development.
World Islamic Economic Forum (WIEF) Foundation and South East Asian Cooperation (SEACO) Foundation jointly organised the event at Radisson Blu Dhaka on Tuesday.
Prime Minister’s Private Industries and Investment Advisor Salman F Rahman was the chief guest while SEACO Foundation Executive Chairman Salahuddin Kasem Khan presided over the opening ceremony.
Addressing the function, Advisor Salman F Rahman said, “Islamic economy is continuously enjoying steady growth in base of 1.8 billion Muslims around the world and the non-speculative nature of Shariah-compliant finance can help to ensure financial stability that’s why it is gaining traction globally.”
WIEF Foundation Chairman Tun Musa Hitam said that Islamic finance is estimated to grow to $3.8 trillion by 2023 from $2.4 trillion in 2017.
The growing demand for Shariah-compliant finance coupled with various initiatives undertaken by a number of governments and regulatory bodies across Asia have promoted the growth of the industry, he added.
SEACO Foundation Executive Chairman Salahuddin Kasem Khan said that the forum will find out the way to raise the socio-economy of a community through trade, investment, tourism and overall cooperation, where national economies become more connected with region.
