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Embracing the Sustainable Future via the Digital Transformation of Islamic Finance

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In an era marked by rapid technological advancements and a growing global emphasis on sustainability, the intersection of Islamic finance and digital transformation has emerged as a critical focal point. The panel discussion titled “Embracing the Sustainable Future via the Digital Transformation of Islamic Finance” at KLIFF 2023 explored this convergence, shedding light on how digitalization is shaping the future of Islamic finance and driving sustainable development.

The Forum: KLIFF 2023

KLIFF 2023, held in Kuala Lumpur, Malaysia, brought together thought leaders, industry experts, and pioneers in Islamic finance to discuss and chart the course for the industry’s future. One of the highlights of the event was the panel discussion that delved into the transformative potential of digitalization in Islamic finance.

The Distinguished Panelists

Moderated by Rizal Il-Ehzan Fadil Azim, CEO of Alliance Islamic Bank Berhad, the panel featured a lineup of industry experts and leaders who shared their insights and experiences:

  • Dr. Wong Huei Ching – Executive Director, Digital Strategy & Innovation, Securities Commission Malaysia.
  • Raja Teh Maimunah – CEO, AEON Credit Service’s Digital Bank.
  • Aziz Zainuddin – Co-Founder, StellaSwap.com.
  • Ts. Othman Abdullah – CEO, Islamic Finance Silverlake.
  • Nor Shahrizan Sulaiman – Deputy CEO, Maybank Islamic Berhad.

Key Discussions

The panel discussion explored five crucial sub-topics:

1. Can Digital Banking Create a Resilient and Sustainable Product?

The panelists engaged in a comprehensive discussion on how digital banking can contribute to resilience and sustainability in Islamic finance. Dr. Wong Huei Ching emphasized the role of regulatory frameworks and innovation in creating sustainable digital banking solutions. Raja Teh Maimunah highlighted the importance of customer-centric digital services in building resilient products.

2. How Is Digital Transformation Driving Sustainable Development in Islamic Finance?

The conversation shifted to the impact of digital transformation on sustainable development in Islamic finance. Aziz Zainuddin discussed how blockchain and decentralized finance (DeFi) technologies are enabling transparent and sustainable financial systems. Ts. Othman Abdullah highlighted how automation and data analytics are streamlining operations, reducing costs, and improving efficiency.

3. Key Opportunities for Islamic Finance in Digital Transformation

The panelists identified key opportunities for Islamic finance in the digital transformation landscape. Nor Shahrizan Sulaiman emphasized the potential for Islamic fintech to offer ethical and Shariah-compliant solutions. Dr. Wong Huei Ching pointed out that digitalization could enhance financial inclusion, extending the benefits of Islamic finance to underserved communities.

4. The Role of Fintech in Shaping the Future of Islamic Finance

The discussion turned to the pivotal role of fintech in shaping the future of Islamic finance. Aziz Zainuddin discussed how decentralized finance platforms like StellaSwap are fostering innovation and trust in Islamic finance. Ts. Othman Abdullah highlighted the importance of cybersecurity in safeguarding digital financial systems.

5. Case Study of Successful Digital Transformation Initiatives in Islamic Finance

The panel concluded with a case study presentation by Nor Shahrizan Sulaiman, Deputy CEO of Maybank Islamic Berhad, showcasing successful digital transformation initiatives in Islamic finance. The case study demonstrated how digitalization can enhance customer experience, streamline processes, and contribute to sustainable growth.

The panel discussion at KLIFF 2023 underscored the transformative potential of digitalization in Islamic finance. The convergence of technology and sustainability is reshaping the industry, with digital banking, fintech, and innovative solutions playing pivotal roles in creating a resilient, customer-centric, and sustainable future for Islamic finance. The insights and experiences shared by the panelists offered valuable guidance for stakeholders navigating the evolving landscape of Islamic finance in the digital age.


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EVENTS & ANNOUNCEMENTS

JOIN US THIS MORNING ON A JOURNEY INTO THE LIVES OF REMARKABLE HISTORICAL MUSLIM WOMEN

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We are honored to invite you to the maiden edition of the Muslim Women in History Series, on a journey into the lives and contributions of remarkable Muslim women who made history. In this first session, we’ll be exploring the inspiring legacies of Nana Khadija bint Khuwailid, Fatima al-Fihriyya, and Nana Asmau bint Usman Fodio — women whose courage, intellect, and faith continue to inspire us today.
📅 Date: 2nd November, 2024
🕒 Time: 10am – 12:30pm WA(Nigerian)  Time. 9:00 am
📍 Platform: Zoom:
To Register Click:
To Join the Event Click:
Join us for a powerful and insightful session honoring the lives of these exceptional women. We look forward to having you with us!
Hussain Yaqub
Event Coordinator

+233 55 661 3291


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Announcing Dr. Aishatu Usman Muhammad as a Speaker at the Maiden Edition of the Muslim Women in History Series

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We are honored to announce Dr. Aishatu Usman Muhammad as a distinguished speaker at the inaugural Muslim Women in History Series, where she will be presenting on the extraordinary legacy of Nana Asma’u bint Usman Fodio. Dr. Muhammad’s insights will illuminate Nana Asma’u’s contributions to Islamic scholarship, women’s education, and community empowerment—a subject close to her own professional and personal pursuits.

With over fifteen years of expertise in accounting, finance, and Islamic banking, Dr. Muhammad is a Lecturer at Gombe State University. She holds a BSc and MSc in Accounting from the University of Maiduguri and a Ph.D. in Islamic Finance from Universiti Sains Malaysia. Dr. Muhammad is also a Certified National Accountant (CNA) and Certified Islamic Finance Executive (CIFE) with diverse fellowships in human rights and gender advocacy.

Registration:

To participate in this event, please register through the following portal: Muslim Women In History Series.

We look forward to your participation in this important event!


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Announcement: Dr. Aishatu Umar Maigari as Distinguished Guest of Honour and Keynote Speaker at the Maiden Edition of the Muslim Women in History Series

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We are honored to announce Dr. Aishatu Umar Maigari as the Distinguished Guest of Honour and keynote speaker at the inaugural edition of the Muslim Women in History Series.

Dr. Aishatu Umar Maigari, the Honourable Commissioner of Education for Gombe State, brings a wealth of experience and a remarkable track record in education and public service, making her an inspiring figure for this significant event.

Dr. Maigari’s distinguished career spans various high-profile roles, including her prior position as the Honourable Commissioner of Science, Technology, and Innovation for Gombe State, and her current academic role as an Associate Professor of Analytical Chemistry at the Federal University, Kashere. She also serves as an Adjunct Professor of Chemistry at North Eastern University, Gombe, and has risen through academia, with over 35 research publications in reputable journals.

As a Fellow of the Chemical Society of Nigeria and a member of the Institute of Chartered Chemists of Nigeria, Dr. Maigari’s contributions extend beyond education into advocacy for rural youth and female empowerment. Her involvement as a Focal Person for UNICEF’s FTTSS program has supported hundreds of rural girls to pursue teaching, fostering educational opportunities for underprivileged communities.

In her role as keynote speaker, Dr. Maigari will share her insights on the impact of Muslim women in history, shedding light on their legacy and relevance in today’s society. Her presence is not only a celebration of past achievements but a powerful inspiration for future generations of women leaders.

Registration:

To participate in this event, please register through the following portal: Muslim Women In History Series.

We look forward to your participation in this important event!


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