Riyadh, April 29, 2024, The 18th Islamic Development Bank (IsDB) Global Forum on Islamic Finance, themed "Innovation, Entrepreneurship, and Leadership in Islamic Finance," recently took place during the IsDB Group Annual Meetings and Golden Jubilee Celebration in Riyadh. This forum attracted a diverse array of thought leaders, policymakers, financial experts, and key stakeholders in Islamic finance, converging to deliberate on strategies for empowering entrepreneurs and ensuring sustainable development.
During the forum, IsDB President Dr. Muhammad Al-Jasser emphasized the imperative of nurturing a generation of entrepreneurial leaders capable of steering the world toward a future grounded in ethical principles and sustainable growth. Al-Jasser highlighted the urgency of bridging the startup rate disparity between low- and high-income economies by fostering an enabling environment that nurtures and supports entrepreneurship.
One of the notable highlights of the event was the presentation of the IsDB Prize for Impactful Achievement in Islamic Economics to Professor Mehmet Asutay from Durham University, recognizing his significant contributions to the field.
Additionally, a new report titled "Catalyzing Social Entrepreneurship through Islamic Finance" was unveiled at the forum. This report delves into the potential of Islamic finance to bolster social entrepreneurship and impact investment, furthering discussions on leveraging financial mechanisms for positive social change.
The forum also featured engaging panel discussions, with experts delving into the pivotal role of entrepreneurship in driving sustainable development within the Islamic finance framework. Panelists included Dr. Zeger Degraeve, Executive Dean of Prince Mohammed Bin Salman College (MBSC), Morrad Irsane, CEO and Founder of TAKADAO, and Dr. Sami Al-Suwailem, Acting Director General of the IsDB Institute.
Moreover, a second session introduced the Smart Stabilization System, a groundbreaking algorithm developed by the IsDB Institute in collaboration with blockchain company SettleMint. This system aims to enhance stability in financial markets, showcasing innovative solutions emerging from the intersection of finance and technology.
