KUALA LUMPUR: The Global Islamic Finance Forum (GIFF) returns this year, themed “Beyond Profit”, which is scheduled on October 3-4 here.
It will bring together Islamic finance leaders and sustainability experts to advance value-based intermediation (VBI), aimed at building a more sustainable and inclusive global financial ecosystem.
GIFF2018 organising chairman and Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) deputy president Rafe Haneef said the introduction of the VBI Strategic Paper by Bank Negara Malaysia last year had marked an important milestone in realising the full potential of Islamic finance.
He said the system had placed Malaysia at the forefront of Islamic banking leadership globally, with the aim to strengthen the roles and impact of Islamic banking institutions (IBIs) towards a sustainable financial ecosystem.
“The adoption of VBI as this year’s theme for GIFF is both apt and timely, given its key role in propelling the development of the Islamic finance industry.
“GIFF 2018 is a powerful platform for meaningful conversations and insights on how VBI will be a game changer to drive Islamic finance industry to its next level of growth, while giving equal importance to social, ethical and environmental considerations towards sustainable value creation,” he said in a statement today.
Rafe added that the application of VBI practices would result in a better facilitation of entrepreneurship, community well-being, sustainable environment and economic growth, aligned with shareholders’ focus on sustainable, long term returns.
Rafe said the launch of the VBI scorecard at GIFF, the presentations and discussions at the forum will culminate in a statement of commitment, which will be made available to the industry to demonstrate their recognition of and commitment to adopting the good practices
The VBI Scorecard is a collaborative initiative by Bank Negara, Global Alliance for Banking on Values (GABV) and members of the VBI Community of Practitioners (CoP), which consist of nine Islamic banks which had indicated their commitment to adopting VBI.
“It aims to measure the progression of the overall business activities and practices in delivering the intended outcomes of VBI,” he said.
GIFF2018 will also feature industry leaders and experts who will share and discuss topics such as integrating sustainability and responsible financing into the financial sector; roadmap to sustainability; and technological disruption impacting sustainable finance.
Key speakers include Dubai Islamic Bank group chief executive officer Dr Adnan Chilwan, Grabtaxi Holdings Pte Ltd president Ming Maa, ISRA Council of Scholars member Dr. Sheikh Nizam Yaquby, The Finanser Ltd chief executive officer Chris Skinner and Arabesque Asset Management Ltd chief executive officer Omar Selim.
Various Islamic finance events will also be taking place during the week of GIFF including the 13th International Shariah Scholars Forum (ISSF2018), and the CIBAFI-World Bank Conference on Corporate Governance.