Global Islamic Finance Forum calls for empowering entrepreneurs to secure sustainable development

Riyadh, Apr. 29 (BNA):  The 18th Islamic Development Bank (IsDB) Global Forum on Islamic Finance, held under the theme “Innovation, Entrepreneurship, and Leadership in Islamic Finance”, has been held on the sidelines of the IsDB Group Annual Meetings and Golden Jubilee Celebration in Riyadh.

 

The forum attracted several thought leaders, policymakers, financial experts, and key stakeholders in Islamic finance who discussed ways to empower entrepreneurs to secure sustainable development, Saudi Press Agency (SPA) reported.

 

IsDB President Dr. Muhammad Al-Jasser called for nurturing a generation of entrepreneurial leaders who can help propel the world toward a future rooted in ethical principles and sustainable development.

 

Al-Jasser stressed the need to address the gap in startup rates between low and high income economies by fostering an environment that supports and nurtures entrepreneurship.

 

Meanwhile, the IsDB Prize for Impactful Achievement in Islamic Economics was awarded to Professor of Middle Eastern and Islamic Political Economy & Finance at Durham University Mehmet Asutay.

 

 

A new IsDBI report, “Catalyzing Social Entrepreneurship through Islamic Finance”, which explores the potential of Islamic finance to support social entrepreneurship and impact investment, was presented at the forum.

 

Experts taking place in a panel discussion tackled the pivotal role of entrepreneurship in advancing sustainable development, particularly in the Islamic finance paradigm. Panelists included Executive Dean of Prince Mohammed Bin Salman College (MBSC) Dr. Zeger Degraeve, CEO and Founder of TAKADAO Morrad Irsane, and Acting Director General of the IsDB Institute Dr. Sami Al-Suwailem.

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A second session introduced the Smart Stabilization System, a patent-pending algorithm to enhance stability in financial markets, developed by the IsDB Institute and implemented by the blockchain company SettleMint.

 


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