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PRESS RELEASE September 26, 2016

The IFSB and World Bank to Host High-Level Seminar on Islamic Finance

Kuala Lumpur/Washington, DC, September 26, 2016 – The Islamic Financial Services Board (IFSB) and the World Bank’s Treasury and Finance & Markets Global Practice Group will be hosting a High-Level Seminar on Islamic Finance with the theme, “Islamic Finance and the Sustainable Development Goals” on 6 October 2016 in Washington, D.C., USA.

H.R.H. Muhammadu Sanusi II, The Emir of Kano and Former Governor, Central Bank of Nigeria will be delivering the Keynote Address for the Seminar.

The Keynote will be followed by a Panel Discussion themed, Realising Sustainable Economic and Social Objectives through Islamic Finance, which seeks to develop insights and proposals for both policy makers and the private sector from the perspective of utilising Islamic finance as an economically viable alternative funding source to attain global economic and social objectives. In particular, the panel will examine the potential for public-private synergies in the development of an Islamic finance legal and regulatory framework, and for a sound supportive institutional structure, as well as for knowledge sharing and capacity development goals. It will be complemented by real-life case studies such as Khazanah Nasional Berhad of Malaysia’s experience in the Social Sukūk segment to fund the construction of schools across the country, and the International Finance Facility for Immunisation (IFFIm) Sukūk to support the immunisation of children in the poorest countries.


The list of Speakers and Panelists include:

H.R.H. Muhammadu Sanusi II, The Emir of Kano and Former Governor, Central Bank of Nigeria

H.E. Dr. Muliaman Darmansyah Hadad, Chairman of Board of Commissioners of the Financial Services Authority (OJK), Indonesia

Arunma Oteh, OON, Vice President and Treasurer, World Bank

Jaseem Ahmed, Secretary-General, Islamic Financial Services Board

Gloria Grandolini, Senior Director, Finance & Markets Global Practice Group, World Bank

Osman Çelik, Undersecretary of Turkish Treasury, The Republic of Turkey

Cyrus Ardalan, Member of the Board, International Finance Facility for Immunisation (IFFIm), United Kingdom

Tirad Al-Mahmoud, Chief Executive Officer, Abu Dhabi Islamic Bank, UAE

Mohd Izani Ghani, Chief Financial Officer/Executive Director of Khazanah Nasional Berhad, Malaysia

Dr. Michael J.T. McMillen, Adjunct Professor, University of Pennsylvania and Partner at Curtis, Mallet-Prevost, Colt & Mosle LLP, USA

This World Bank-IFSB cooperation is designed to encourage broad interaction among the delegates to explore the prospective role of Islamic finance in supporting social and economic development globally with the hope of achieving the United Nation’s Sustainable Development Goals. To this end, the Seminar will offer perspectives of Islamic finance principles, and financing modalities, which directly relate to the potential role of this rapidly expanding sector in addressing the global funding gap, both in the developed and developing world, whilst tapping into the ethical investor market. The Seminar, which is being held on the sidelines of the IMF/World Bank Annual Meetings 2016, will also touch on the potential for synergy in the roles of policy-makers, regulators and market players in helping to expand the role of Islamic finance in achieving socio-economic goals.

For more information, please contact the World Bank-IFSB Secretariat (wbifsb@worldbank.org) or Siham Ismail (IFSB) +603 9195 1430 (W), +6012 373 5842 (M), (siham@ifsb.org)