ON-DEMAND WEBINAR
Convergence of Islamic finance and sustainability
COVID-19 has been a catalyst for the resurgence of sustainable sukuk and investment funds. ESG sukuk issuance reached a record value of $4.6 billion in 2020, boosted by large sustainable issuances during the year. Meanwhile, the Shariah-compliant funds space has been undergoing a shift towards sustainable investment with Islamic sustainability funds amounting to $542 million by the end of 2020.
Sustainability sukuk are expected to drive ESG sukuk and Islamic funds growth in 2021 as recovery from the economic fallout from COVID-19 continues to be the prime focus for governments and corporates. ESG sukuk issued in Q1 amounted to over $2.5 billion, over half of total ESG sukuk issuance in 2020. Islamic ESG funds also continued building momentum and grew to a value of $756 million in the first of quarter of 2021, following the launch of several Islamic SRI funds in Malaysia and Indonesia.
Join our experts as they discuss the trends of sustainability in 2021 and beyond and whether investments in sustainable and green sukuk are slated to continue.
On the agenda:
- How significant a role will sustainability play in the Islamic finance industry in the short, medium and long term?
- What impact will the recent growth of ESG / Green Sukuk and sustainable Islamic funds have on the overall Islamic capital markets landscape?
- What are the key drivers that are promoting sustainability within the Islamic finance industry among institutions, investors, scholars and regulators?
- What steps should regulators and other industry stakeholders play to promote sustainability in the Islamic finance industry?
Event info
Format: On-Demand Webinar
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OUR SPEAKERS
DR ALI ADNAN IBRAHIM
Global Head of Social and Sustainable Finance
Al Baraka Banking Group, Bahrain
Dr. Ali Adnan Ibrahim the Global Head of Social & Sustainable Finance at the Al Baraka Banking Group in Bahrain, the world's largest Islamic banking network.
Ibrahim is co-chairman of the Sustainability Working Group of the General Council of Islamic Banks and Financial Institutions (CIBAFI). Ibrahim also chairs the Sustainable Development Committee of the Bahrain Association of Banks that examines and explore various ways in which the banking sector can contribute to the continued sustainable development of Bahrain. He also chairs the Global Islamic and Sustainable FinTech Center at the Bahrain Fintech Bay.
Ibrahim is member of the Sustainable Finance Working Group (SFWG) managed by the International Institute of Finance. He is also member of the Global Islamic Finance & SDGs Taskforce established jointly by the United Kingdom Treasury and the Islamic Finance Council, United Kingdom.
Ibrahim is an active member of various communities of the World Economic Forum including the Forum of Young Global Leaders and the Executive Working Group on Financing.
Ibrahim has published internationally and his areas of interest and expertise include market-based strategies for financial inclusion and enterprise development, impact and blended finance, digital and sustainable finance, Islamic finance, the intersection of impact and faith, microfinance, foreign direct investments, and financial regulation. He has served as an adjunct faculty at the Georgetown University Law Center.
As Fulbright Scholar, Ibrahim received his doctorate in juridical sciences (SJD—with distinction) from the Georgetown University Law Center, master of laws (LL.M.) from the Washington University School of Law, and a bachelor of laws (LL.B. Honours) from the International Islamic University, Islamabad, Pakistan. He has attended "Global Leadership and Public Policy in 21st Century" at Harvard University and "Transformational Leadership" at Oxford University.
MADELENA MOHAMED
Director, Islamic Banking and Takaful Department
Bank Negara Malaysia
As Director of the Islamic Banking and Takaful Department, she is responsible for the formulation of strategic and prudential policies, and assessment of risks for the Malaysian Islamic banking and takaful industry. She is also the Lead Coordinator for climate and environmental risks initiatives in the Bank.
Prior to July 2018, she was the Director of the Prudential Financial Policy Department which oversees the formulation of prudential policies for the Malaysian banking and insurance industries.
For the period 2008-2016, she headed the Financial Surveillance Department where she was responsible for financial stability surveillance, risk assessment function and formulation of macroprudential and financial crisis management policies in the Bank.
She has more than 25 years of experience in a broad range of financial stability issues including strategic, microprudential and macrofinancial policy formulations for the Malaysian banking system. She spearheaded the formation of the Bank’s Financial Stability Executive Committee. She was the key responsible person for the inaugural Financial Sector Assessment Programme for Malaysia in 2012 and was part of the Bank’s team that was responsible for the formulation of resolution strategies during the Asian financial crisis.
She is now the Acting Chair of the IFSB Technical Committee and has represented the Bank in various external committees such as the Policy Development Group of the Basel Committee on Banking Supervision, Financial Stability and Technical Committee of the International Association of Insurance Supervisors and Financial Stability Committee of the Labuan Financial Services Authority.
A Chartered Financial Analyst charterholder, she graduated with a BSc Economics degree majoring in Accounting and Finance from the London School of Economics.
RAFE HANEEF
Chief Executive Officer, Group Transaction Banking / Group Chief Sustainability Officer
CIMB Bank
Rafe Haneef is the Chief Executive Officer, Group Transaction Banking and Group Chief Sustainability Officer at CIMB.
In his capacity as Group Chief Sustainability Officer, Haneef has the responsibility for driving sustainability, which includes reducing environmental footprints and increasing ESG handprints, across CIMB group’s own operations, financing products and services, and through CSR initiatives in education, economic empowerment, environment, health and community wellbeing.
Previously, as CEO of CIMB Islamic Bank Berhad, Haneef was in charge of the Group’s Islamic banking and finance franchise and was instrumental in the inclusion of CIMB Islamic in the Value-based Intermediation (VBI) Community of Practitioners, working to develop VBI together with Bank Negara Malaysia to contextualise and drive sustainability within Islamic finance institutions in Malaysia.
He played a vital role in CIMB Group being a member of RFI as well as a founding member to the UNEP FI.
Haneef received a Master of Laws (LL.M) from Harvard Law School and a Bachelor of Laws (LL.B) from International Islamic University Malaysia.
MUSTAFA ADIL
Head, Islamic Finance, Data and Analytics
LSEG
Mustafa Adil is the Head of Islamic Finance, Data and Analytics at London Stock Exchange Group. He is responsible for leading the Islamic finance and Islamic markets business for the organization, providing knowledge solutions and bespoke services to support the continued growth and increasing depth of the Islamic finance industry. He works in collaboration with government entities, multilateral organizations and leading financial institutions to support them in fulfilling their aspirations and executing their strategies in the Islamic markets space. These include the delivery of knowledge solutions, research, consulting services and market engagement. He also spearheads the development of new initiatives or services that meet the increasingly sophisticated needs of the industry across markets.
Prior to joining LSEG, Mustafa was a leading consultant in the Islamic Financial Services team at Ernst & Young, providing advisory services to some of the leading Islamic financial institutions in the GCC and globally
