The Islamic Financial Services Board (ISFB), an international entity that includes the regulatory and oversight agencies for Islamic finance, and the Bank of Spain have organized this international seminar on Islamic finance with the cooperation of the IE Business School, titled “The Real Economy and Financial Sector,” at the IE Business School in Madrid on May 24, preceded by an introductory seminar on the evening of May 23. 

The seminar’s objective is to promote broader interaction amongst the different participating delegations to explore a potential realignment of the international political frameworks that may strengthen the connections between the real economy and financial sector worldwide. The seminar is also an attempt to offer a perspective on the principles and forms of Islamic financing that most directly connect with the real sector of the economy, in terms of both risks and results. It will discuss topics such as the legal and regulatory considerations involved in Islamic finance; sükük bonds as alternative financing assets to finance the real sector; the macroeconomic level effects of Islamic financing instruments; financial inclusiveness and access to financial systems among sectors of the population without access to banking through instruments for financial participation. 

In particular, the seminar will create an exceptional opportunity for political dialogue among role-players and top-level executives from different regions (Europe, the MENA region and Asia).

Included amongst the participants and speakers are regulatory entities, standardization agencies, executives from leading financial institutions in the public and private sectors and from academia, all meeting with the goal of discussing important topics and factors, as well as proposals and recommendations to promote real sectors of the economy, and therefore achieve the goal of a more stable, equitable and resistant global financial system. 

The preceding afternoon of May 23 will also include a seminar titled “Islamic Finance: An Introduction,” also organized by the IFSB, the Bank of Spain and the IE Business School, from 2:00-5:15 p.m., offering information on the background and history of the Islamic finance industry.

The moderators and speakers include the following: 

• Luis M. Linde, Governor of the Bank of Spain

• Guillermo de la Dehesa Romero, Chairman of the International Advisory Board, IE Business School

• Jaseem Ahmed, Secretary-General, IFSB

• Ali Hamdan Al Raisi, Executive Vice President, Central Bank of Oman

• Ian Johnston, Chief Executive, Dubai Financial Services Authority

• Khalid Mohammed Al-Aboodi, Chief Executive Officer, Islamic Corporation for the Development of the Private Sector (ICD), Islamic Development Bank Group

• Professor Dr Mohd Azmi Omar, Director General of Islamic Research and Training Institute (IRTI), Islamic Development Bank Group

• Sarah Breeden, Acting Executive Director, International Banks Supervision, Bank of England

• Mohamed Damak, Director, Global Head of Islamic Finance, Standard & Poor’s

• Yakubu Umar, Special Advisor to Governor, Central Bank of Nigeria

• Charles Goodhart, Director of the Financial Regulation Research Programme, The London School of Economics and Political Science

• Ignacio de la Torre, Academic Director of Master in Finance Programmes, IE Business School

Free attendance after registration here 

Seminar schedule: 

Seminar on Islamic Finance: An Introduction, IE Business School, Room E-101 (C/ María de Molina, 4), May 23, 2016, from 2:00 p.m.–5:15 p.m.

Seminar on Islamic Finance: The Real Economy and the Financial Sector, IE Business School, Aula Magna (at Calle María de Molina, 11-13), May 24, 2016, from 8:30 a.m.–5:30 p.m.

Further information at: http://www.ifsb.org Ida Shafinaz Ab. Malek, ida.shafinaz@ifsb.org)