Financial Technologies as a disruption or a growth lever for Islamic Finance Industry

Financial Technologies as a disruption or a growth lever for Islamic Finance Industry

The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, has successfully held today its first Virtual InFocus Session, themed "Financial Technologies: Disruption or Growth Lever for Islamic Finance Industry“.



The Virtual InFocus Session was organized by CIBAFI and hosted by the Astana International Financial Centre (AIFC) under the framework of Online Astana Finance Days 2020. It endeavored to bring together an international panel of distinguished speakers, Fintech enthusiasts, and Islamic finance industry stakeholders to discuss Fintech adoption in Islamic financial institutions, with a deep dive into current practices and faced challenges.





CIBAFI Virtual InFocus Session was inaugurated by a welcoming remarks by Dr. Abdelilah Belatik, Secretary General, CIBAFI and witnessed opening speeches from Mr. Nurlan Kussainov, the Chairman of the Management Board of the AIFC Authority, Kazakhstan and Ms. Taliya Minullina, Chief Executive Officer, Tatarstan Investment Development Agency (TIDA), Tatarstan, Russia.



A panel discussion followed after the opening speeches chaired by Dr. Muhammad Bilal, Research Economist, CIBAFI. While the panelists included: Ms. Yasmeen Al-Sharaf, Head of FinTech & Innovation Unit, Central Bank of Bahrain, Bahrain; Mr. Andrew Cunningham, Founder, Darien Analytics Ltd., United Kingdom; Mr. Umar Munshi, Co-founder of Ethis and President