Islamic Finance 

5th International Islamic Finance Executive Program Concludes in Jeddah

| 12 May, 2019

Jeddah, Kingdom of Saudi Arabia, 12 May 2019 –Senior executives of Islamic financial institutions from various countries have attended the fifth International Executive Program in Islamic Finance, held in Jeddah, Kingdom of Saudi Arabia.

The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) Group organized the program jointly with the Islamic Economics Institute (IEI) of King Abdulaziz University (KAU), Jeddah, Saudi-Spanish Center for Islamic Economics and Finance (SCIEF), and IE Business School, Madrid, Spain.

The program, held from 28 April to 2 May 2019, was designed for executives interested in deepening their knowledge in Islamic Finance and developing professional networks in the Islamic financial industry.

In his opening remarks, Vice Dean of KAU’s Postgraduate Studies and Research, Dr. Hasan Makhethi, commended the partnership among the organizing institutions, which he said has created “a platform for alternative finance in order to raise awareness among academics and business people of the importance of ethics and morals in finance and business.”

During the program, participants attended workshops, roundtables and academic sessions covering the fundamental principles, key concepts and modes of Islamic finance, as well the importance of ethics in business. The participants also visited King Abdulaziz University, Islamic Development Bank (IsDB), SEDCO Capital, and National Commercial Bank (NCB).

Discussions were held on various contemporary issues in Islamic Finance, including Shari’ah compliance in project financing, mobilizing financial resources, Sukuk structures, risk management, designing new Islamic Finance tools, legal issues in Islamic financial contracts under different jurisdictions, and prudent ethical investment.

The program had participants from Saudi Arabian Monetary Authority (SAMA), Jaiz Bank of Nigeria, and the Microfinance Support Centre Limited (MSC), among others. Some of the trainers and discussants included Dr. Sami Al-Suwailem, Mr. Khalid Gama, Dr. Ahmed Belouafi, and Dr. Mansoor Durrani.

About IRTI:

The Islamic Research and Training Institute (IRTI) is a Member of the Islamic Development Bank (IsDB) Group responsible for knowledge creation and dissemination in Islamic Economics and Finance, and fostering the use of Islamic Finance to contribute to the sustainable development of IsDB member countries. More information about IRTI is available on www.irti.org. For enquiries about IRTI, please contact Habeeb Idris Pindiga (hpindiga@isdb.org).

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