Seminar on Islamic finance held by WB, IFSB


Washington—More than 100 participants, including government officials, bankers, asset managers and academics from all over the world, participated in the World Bank-Islamic Financial Services Board (IFSB) High-Level Seminar on Islamic Finance and the Sustainable Development Goals (SDGs) held at the office of the World Bank Treasury on October 6.
The Seminar was highlighted by a keynote address, followed by an extensive question and answer session, by his Royal Highness Muhammadu Sanusi II, the Emir of Kano and former Governor of the Central Bank of Nigeria. In his remarks, the Emir stressed the potential of Islamic finance to mobilise much needed capital to achieve the SDGs, stressing in particular the suitability of Islamic modes of finance for infrastructure development.
The Seminar included a lively and informative panel discussion which examined, amongst other issues, how countries, such as Indonesia and Turkey, are increasingly using Islamic finance to support developmental goals, and innovative Sukuk structures supporting both physical and social infrastructure, including education in Malaysia and global immunisation programmes.—Agencies