Saudi Arabia Hosts Summit For Islamic Financial Innovation and Digital Transformation

Source : SAMA Saudi Arabia

The Islamic Financial Services Board (IFSB) is pleased to announce that the 15th IFSB Summit will be held from 9 to 11 November 2021 in Jeddah, Kingdom of Saudi Arabia, hosted by the Saudi Central Bank (SAMA) – the fifteenth series of this biennial landmark event for the IFSB.

The theme of the IFSB 2021 Summit is “Islamic Finance and Digital Transformation: Balancing Innovation and Resilience”. The Summit will focus on ways to foster innovation, technological adoption, accessibility and sustainability in the Islamic financial system to boost its growth and development, as well as the policy implications arising from rapid digital transformation.

In addition, the summit will highlight the work that remains to be done moving forward to strengthen Islamic Finance Services’ resilience and stability. The rise of technology in financial services is shaping current sectors across banking, capital markets and takāful, and giving rise to new modes of financial intermediation such as crowdfunding and blockchain solutions. These exciting changes and developments require authorities and jurisdictions to balance resilience and innovation, which this Summit will explore over the course of the sessions.

Among the topics of discussion are:

  1. Digital Transformation of Islamic Financial Services.
  2. Crypto-Assets and their Implications for Islamic Finance.
  3. FinTech and Islamic Financial Services.
  4. Achieving Synergy between Digital Islamic Finance and Sustainability.
  5. Effective use of Supervisory and Regulatory Technology by Authorities.

Read morehttps://www.sama.gov.sa/en-US/News/Pages/news-688.aspx