This high-level seminar brought together more than 120 government officials, regulators, market players, academia, WB and IMF staff to discuss the linkages between Islamic finance, growth and economic development, emphasizing the concepts of risk sharing and financial inclusion, especially within the banking sector, capital markets, and social safety nets.
As Dr. Tunc Tahsin Uyanik, the Chair of the Islamic Economics and Finance Working Group at the World Bank emphasized, “The founding principles of Islamic finance build on integrating ethics in doing business, transparency in market transactions, and inclusion of all segments of society. Therefore, adherence to these fundamentals reduces uncertainty, facilitates informed decisions, and fosters inclusive and efficient allocation of resources.”
Dr. Zamir Iqbal, Lead Investment Officer at the World Bank, noted, “The promise of Islamic finance is a comprehensive pro-development financial system, with a risk-sharing system on one side and strong corporate governance and social responsibility on the other.”
The seminar was held as part of the 2013 Annual Spring Meetings of the World Bank Group and IMF. It was co-organized by the International Center for Education in Islamic Finance (INCEIF).
Video Recordings (Windows Media):
- Welcome Remarks and Key Note Speeches: mms://wbmswebcast1.worldbank.org/FPD/2013-04-25/01_Welcome_and_Keynotes.wmv
- Session I: Islamic Economics and Finance: Linkages to Growth and Development: mms://wbmswebcast1.worldbank.org/FPD/2013-04-25/02_Session_1.wmv
- Session 1: Q&A: mms://wbmswebcast1.worldbank.org/FPD/2013-04-25/03_Session_1_QA.wmv
- Session II: Innovative Islamic Structures: Catalysts for Economic Development and Sustainability: mms://wbmswebcast1.worldbank.org/FPD/2013-04-25/04_Session_2.wmv
- Session 2: Q&A: mms://wbmswebcast1.worldbank.org/FPD/2013-04-25/05_Session_2_QA.wmv
- Special Address: Islamic Finance and Economic Development: