Summit to highlight efforts needed to improve resilience of Islamic financial services

Jeddah – The 15th annual Islamic Financial Services Board (IFSB) summit was launched in Saudi Arabia on Tuesday under the slogan “Islamic Finance and Digital Transformation: Balancing Innovation and Resilience”.

The event is organized by the Saudi Central Bank (SAMA), in the governorate of Jeddah, with the participation of representatives of central banks, financial institutions, in addition to the regulatory authorities of more than 18 countries and a hundred speakers.

The three-day summit will include 15 discussion sessions and a workshop to discuss the political effects resulting from the rapid digital transformation, highlight the efforts needed to improve resilience and achieve stability in the area of ​​Islamic financial services.

This is in addition to the digital transformation of Islamic financial services, crypto-assets and their implications for Islamic finance, financial technology and Islamic financial services.

The summit will discuss ways to achieve collaboration between Islamic digital finance and sustainability, in addition to the effective use of technology in supervisory and regulatory activities by Islamic financial authorities and institutions.

The summit is considered to be one of the most important events in the Islamic financial services industry, as it provides a major platform for discussion and exchange of views among regulators, market participants and intellectual leaders to discuss issues related to correcting regulatory guidance and updating regulations. applicable to this sector; in order to further improve its resilience and achieve stability.

The summit provides a unique opportunity for policymakers, regulators and global market players around the world to exchange experiences, discuss and exchange visions on current and emerging issues in the field of Islamic finance.

It should be noted that the IFSB comprises more than 188 members, 80 regulatory and supervisory authorities, 10 intergovernmental organizations and 98 institutions active in the market, including financial institutions, professional firms and trade union federations operating in 57 countries. . – SPA