The Centre for Islamic Business & Finance (CIBF), IoBM in collaboration with BankIslami Pakistan organized a guest speaker talk on “Shariah Governance of Islamic Finance - Malaysian Experience.” It was held on June 1, 2023, at IoBM. The guest speaker was Prof. Dr. Asmadi Mohamed Naim, Vice Chancellor, Universiti Islam Antarabangsa Sultan Abdul Halim Mu’adzam Shah (UniSHAMS). He was accompanied by Mrs. Hasliza Salbani.
During the talk, Dr. Asmadi Mohamed Naim, discussed the features of the Islamic financial system operating in Malaysia, its key components, challenges, and the importance of Shariah compliance for Islamic financial institutions in Malaysia. The talk highlighted the growth trajectory of Islamic banking in Malaysia and its contribution to the overall financial sector. It also explored the potential for further expansion and the role of Malaysia as a regional and global hub for Islamic finance. The guest speaker session was well-attended by professionals and practitioners of the Islamic banking industry.
The collaboration between IoBM and BankIslami Pakistan to host a talk on "Shariah Governance of Islamic Finance" significantly contributes to several Sustainable Development Goals (SDGs). Specifically, it supports SDG 8: Decent Work and Economic Growth by promoting Islamic finance principles that encourage equitable and sustainable economic growth. Additionally, the emphasis on Shariah compliance enhances SDG 16: Peace, Justice, and Strong Institutions by fostering ethical practices within the financial sector, ultimately contributing to a more stable and fairer economic environment. The discussions also support SDG 17 (Partnerships for the Goals), as collaboration among educational institutions and financial entities is crucial for developing effective practices and standards in Islamic finance, ultimately contributing to sustainable development. Such initiatives of collaboration are crucial for establishing a framework that ensures financial systems are aligned with ethical standards and social responsibility.