A two-day roundtable to discuss the challenges and prospects of Islamic finance and sukuk is beginning in Dhaka today as the Shariah-compliant financial segment continues to grow in leaps and bounds.
The event styled “Regional collaboration: Transforming economies” will be held in the capital’s Radisson Blu Water Garden hotel, according to a statement of the World Islamic Economic Forum (WIEF) Foundation.
The WIEF Foundation and the South East Asian Cooperation (SEACO) Foundation are jointly organising the event.
Islamic finance is a burgeoning sector with its assets are estimated to grow to $3.8 trillion by 2023 from $2.4 trillion in 2017, said Tun Musa Hitam, chairman of the WIEF Foundation, in a statement yesterday. Hitam, a former deputy prime minister of Malaysia, said with 1.8 billion Muslims globally, the Islamic economy continues to enjoy steady growth.
“The non-speculative nature of Shariah-compliant finance can help ensure financial stability, a reason why it is gaining traction globally.”
The growing demand for Shariah-compliant finance coupled with various initiatives undertaken by a number of governments and regulatory bodies across Asia have fuelled the growth of the industry, he added.
Salahuddin Kasem Khan, executive chairman of the SEACO Foundation, said the SEACO trusts that the way to raise the socio-economy of a community is through trade, investment, tourism, and overall cooperation, where national economies become more connected regionally.
The WIEF-SEACO Foundation Dhaka Roundtable 2019 will address the challenges and prospects of Islamic finance and sukuk, insights into the future direction of the halal industry, and opportunities for infrastructure development.
The final session at the roundtable will introduce the SEACO, a regional partnership platform, which will link Bangladesh and the Maldives in the Bay of Bengal with selected ASEAN countries through various initiatives targeted to strengthen economic cooperation among these nations, the statement said.
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Roundtable on Islamic finance begins today
