Current economies have proven to be vulnerable to the emerging risks, slower growth, and volatility due to lack of diversified financial systems. This coupled with changing macroeconomic markets conditions including policy normalization, plunging oil prices and increasing budget deficits have provoked more thoughts for diversification.
Islamic finance offers a universal value proposition with inclusive growth that appeals to all, with its adherence to real economic transactions and its specificities including restrictions on speculation, synthetic transactions and industries that are not deemed to be good for the community. It can help in macroeconomic diversification, sustainability, and financial inclusion.
In light of current economic concerns, Islamic finance, with its universal appeal and inclusiveness, can be widely used by governments and financial institutions as a strategy to diversify their source of funding and drive economic growth and social development. It can also be leveraged by government to strengthening their financial infrastructure and increase global cooperation.
In this session, key thought leaders will provide insights on the recent economic trends and how Islamic finance can play a pivotal role in government strategies to build more diversified and sustainable economies.
Speakers
- H.E. Mubarak Rashed Al Mansoori, Governor, Central Bank of UAE
- Mr. Hamad Abdulmohsen Al-Marzouq, Chairman, Kuwait Finance House, Kuwait
- Mr. Abdul Aziz Al Ghurair, CEO, Mashreq Group, UAE
- Dr. Mahmoud Mohieldin, Senior Vice President, The World Bank Group, USA
- Mr. Peter Kruschel, Director, The Federal Financial Supervisory Authority (BaFin), Germany
Moderator
- Mr. Axel Threlfall, Editor at Large, Reuters
