Islamic Finance: Tool to finance developmental projects
Organized by the Private Sector Development Research Network
Wednesday, 26th of June 2024, from 9-10am EST / 4-5pm Riyadh time
ABOUT THE SEMINAR
The seminar will focus on the characteristics of Islamic finance and its alignment with the Sustainable Development Goals (SDGs). It will explore tools for financing both large infrastructure and small to medium-sized projects. Key topics include overcoming local legal hurdles with appropriate financial structures, such as Istisna, Ijarah, commodity Murabaha, and standard Murabaha. The use of Sukuk (Islamic bonds) for large projects and green/social development financing will also be discussed. Additionally, the seminar will cover financing for small and medium projects using Wakala and commodity Murabaha structures. Financial inclusion and expanding Islamic finance through direct equity financing, converting conventional banks, and creating Islamic windows within conventional banks will also be highlighted.
ABOUT THE SPEAKER
Muhammad Al-Amine Muhammad Al-Bashir
Advisor to the CEO on Shariah Matters, CEO Executive Office, ICD
Dr. Al-Bashir is currently an advisor to ICD’s CEO on Shariah matters. He was formerly the Group Head of Shariah Compliance of Alkhair Holding (formerly known as Bank Alkhair BSC). Prior to joining Alkhair Holding in 2005, Al-Bashir was the Head of Product Development and Shariah Compliance at the International Islamic Financial Market (IIFM). He was also a part-time lecturer at the Faculty of Laws International Islamic University Malaysia; Ibn Sina Institute of Technology (Malaysia); the Matriculation Center International Islamic University (Malaysia), the Bahrain Institute of Banking and Finance; the Kingdom University (Bahrain); and The Open University of Malaysia in Bahrain.
Dr. Al-Bashir is the author of Sukuk and Islamic Securitization Markets: Financial Engineering and Product Development (Brill,2012) ; Risk Management in Islamic Finance: An Islamic Analysis of Derivatives Instruments in Commodity Markets (Brill, 2008), Istisna (Manufacturing Contract) in Islamic Banking and Finance Law and Practice (A.S. Noordeen, 2001 & 2006) and Islamic Finance and Africa Economic Resurgence: Opportunities and Challenges (forthcoming Islamic Research and Training Institute(IRTI) of the Islamic Development Bank (IDB) 2014). He has also contributed a number of articles published in international journals.