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Responding to COVID-19: How Islamic Finance Can Help

May 18, 2020


  • 3 - 5 pm (Malaysia) | 11 am - 1 pm (Middle East and North Africa) | 10 am - 1 pm (Istanbul) | 8 - 11 am (London)

    The COVID-19 pandemic and economic lockdowns have severely hurt global economic activity. In a bid to cushion the impact on households and business enterprises, most governments have introduced various policies and massive stimulus programs. Small and mediums-sized enterprises (SMEs) are particularly vulnerable and many of them are already on the verge of collapse. Given the fact that SMEs globally account for 90 percent of all enterprises and generate more than 50 percent of employment, such a scenario will bring widespread loss of output and high unemployment. Under these dire circumstances, there is an urgent need to explore all possible options to mitigate the impact of the outbreak and reboot economies post-COVID-19. Islamic finance, with its inherent orientation towards supporting the real sector will have a key role to play.

    This webinar will therefore discuss how various Islamic finance instruments can be used to support the recovery efforts in different countries, with a particular focus on those with significant or growing Islamic financial sectors. There will also be a discussion of ways in which to deploy Islamic finance instruments at the global level to deal with the after effects of the outbreak.


    If you have questions during the Q&A period, please ask them via the Youtube chat function. Note the Youtube link is accessible to both World Bank Group and external participants.

    For questions, please contact:  Ruzita Ahmad (rahmad3@worldbank.org

  • OPENING REMARKS: Firas Raad, Country Manager for Malaysia

    MODERATOR: Abayomi A. Alawode, Lead Financial Sector Specialist & Head of Islamic Finance, World Bank


    1. Islamic finance takes on COVID-19: Aamir A. Rehman, Senior Advisor at the United Nations Development Programme (UNDP)
    2. Roles of Islamic Social Finance for Micro Small Medium Enterprises (MSMEs): Muazzam Mohamed, Chief Executive Officer, Bank Islam Malaysia Berhad
    3. Making Islamic Finance Work in Communities: Dr. Jemilah Mahmood, Special Advisor to the Prime Minister of Malaysia on Public Health

DETAILS (May 18, 2020)

  • Time (Malaysia): 3 - 5 pm
  • Time (Middle East and North Africa): 11 am - 1 pm
  • Time (Istanbul): 10 am - 12 pm
  • Time (London): 8 - 11 am
  • Watch: Recording