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IFN Türkiye Dialogues 2024

5th December 2024
Sheraton Grand Istanbul Atasehir

IFN Türkiye Dialogues Review

IFN Türkiye Dialogues 2024 Review

Sustaining the Growth of Participation Banking in Türkiye
Moderated by Fatma Çınar, the deputy secretary-general of the Participation Banks Association of Türkiye, or Türkiye Katilim Bankalari Birligi (TKBB), the first session of IFN Türkiye Dialogues 2024 featured diverse perspectives from prominent experts in the field. The panelists explored various dimensions of participation banking focusing on SME financing, trade, digital transformation and sustainability....Read More

About The IFN Türkiye Dialogues

Türkiye is one of the brightest emerging stars of Islamic finance globally – and it is no surprise why. The Republic has all the right ingredients including a Muslim-majority population and strong support from the highest echelons of government.

With President Recep Tayyib Erdogan being a vocal supporter of Islamic finance, participation finance has grown tremendously over the last decade as local authorities put in place enabling policies and infrastructure. Today, Türkiye is home to six Shariah compliant banks, is an active participant in the sovereign and corporate Sukuk markets and is making great progress in the Halal funds sector.

The licensing of fully digital banks last year is likely to tip the scales further in favor of participation finance as three Islamic digital banks are to join the arena and likely to push the country’s Islamic banking sector assets to break the 10% market share threshold by the end of 2024.

How can Türkiye best harness its potential and capitalize on its growth momentum? The industry’s leading minds will share their recommendations and dissect in detail the issues the Republic faces and how to overcome them at the IFN Türkiye Dialogues 2024 in Istanbul.

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Dialogues Agenda

9.25 – 9.30

Welcome Remarks

9.30 – 9.50

Presentation: Financial Infrastructure and Market Development of Participation Banking in Türkiye

Fatma Cinar, Deputy Secretary General, Türkiye Katilim Bankalari Bi̇rli̇ği̇

09.50 – 11.10

Dialogue One: Sustaining the Growth of Participation Banking in Türkiye

  • Given the objectives outlined in the Participation Finance Strategy Document for 2022-2025, how should we assess the current participation finance ecosystem?
  • How have participation banks performed in Türkiye and what factors continue to influence this performance?
  • What is the relationship between legislation and implementation in the participation banking sector in Türkiye?
  • The ‘triple transformation’: green transformation, digital transformation, and social transformation – how far have Turkish participation banks come?
  • How do we assess the various initiatives undertaken by BRSA, CMB and KGK towards the development of sustainable finance in Türkiye?
  • What notable milestones have Turkish participation banks achieved in the drive towards transition and sustainability finance?
  • Is participation finance a key contributor to the development of sustainable finance in Türkiye and what is the role of regulatory authorities?
  • Through financing SMEs, how is the participation banking sector contributing to the broader goal of sustainable development in Türkiye?
  • What recent developments has Türkiye seen in the realm of digital participation finance, and how are these influencing the domestic financial landscape?
  • What are the key challenges and requirements for the growth of participation finance technology startups, particularly in terms of funding, regulation and human capital?
  • How are Turkish participation banks adapting to evolving trends in digital finance and technological innovation, such as open banking?
  • How can participation finance be integrated with crowdfunding and peer to peer financing to create new opportunities in terms of sustainability and financial accessibility?
  • What opportunities and challenges exist in the Turkish participation finance landscape in the context of Takaful products?

Moderator:

Fatma Cinar, Deputy Secretary General, Türkiye Katilim Bankalari Bi̇rli̇ği̇

Panelists:

Ahmet Ilyas Collu, Head of International Banking Department, Vakif Katilim
Hojamurod Hojaev, Senior Manager, Relationship Management, International Islamic Trade Finance Corporation
Ömer Alperen Bilgin, Head of Financial Institutions, T.O.M. Digital Participation Bank
Dr Saygın Sungur, Chief Financial Officer, Katılım Finans Kefalet A.Ş.
Sebnem Alp, Country Head Türkiye, Eastern Europe and Central Asia, UK Export Finance

11.10 – 11.25

Presentation

Mohd Radzuan Mohamed, CEO, Malaysian Takaful Association

11.25 – 12.00

Coffee

12.00 – 13.30

Dialogue Two: Gaining Traction – Türkiye’s Participation Finance Markets

  • How do we assess the sustainability of the growth of the Turkish participation finance capital market in terms of sovereign, quasi-sovereign and corporate issuance?
  • Considering Türkiye’s position as a top five Sukuk issuer, what can we anticipate in terms of issuance size and structure in the next 12 months?
  • How will rates influence domestic and regional Sukuk markets in late 2024 and early 2025, and what opportunities will be on offer for investors?
  • What market developments and regulatory enhancements are required to bring more corporate Sukuk issuers to market in Türkiye?
  • How should we assess risk in the Turkish participation finance capital market, such as geopolitical events and oil prices?
  • Can more be done to supply the local market with high-quality liquid assets, and to what extent would this contribute to building a yield curve unique to Turkish Sukuk issuers?
  • What might encourage more thematic Sukuk issuance towards the funding of sustainable, green and social causes, and how can sustainability linked Sukuk further flourish in Türkiye?
  • How can principles such as Waqf be further integrated into investment strategies to create a sustainable positive impact?
  • What role can be played by participation finance structures in financing long-term green projects in the private sector?
  • How is private capital influencing Turkish participation finance markets and what approach should regulators take?
  • To what extent has the domestic participation asset management industry managed to differentiate itself from its conventional peer?
  • Will Türkiye see significant diversification of asset classes in coming years, or indeed, the addition of new asset classes? If so, what form will this take?

Moderator:

Fatma Cinar, Deputy Secretary General, Türkiye Katilim Bankalari Bi̇rli̇ği̇

Panelists:

Ahmet Tacer, Capital Markets and Investment Banking Director, Golden Global Investment Bank
Dr Bayram Veli Salur, Chief Investment Officer, Kuveyt Turk Portfoy
Osman Karakütük, Executive Vice President – Treasury Management and International Banking, Ziraat Participation Bank
Seçil Yıldız, Executive Vice President, Sustainability and Impact Leader, Development and Investment Bank of Türkiye
Zara Ahmed, Regional Head of Policy, Eastern Europe and Central Asia at Department for Business and Trade (DBT), British Consulate of Türkiye​
Zeynep Çalikiran Yaşar, Head of Financial Institutions, Kuveyt Turk Katilim Bankasi

13.30

Luncheon

Dialogues Speakers

Ahmet Ilyas Collu

Ahmet Ilyas Collu

Head of International Banking Department, Vakif Katilim
Ahmet Ilyas Collu
Ahmet Ilyas Collu
Head of International Banking Department, Vakif Katilim

Ahmet Ilyas Collu has been in the Islamic finance industry since 1999, having worked in three Islamic banks in Türkiye and two in Kuwait. He worked in the international banking department of Kuveyt Turk Bank in Istanbul and Kuwait International Bank in Kuwait. Prior to his current role in Vakıf Katılım Bank, he headed the correspondent banking department of Boubyan Bank in Kuwait. During his career he had exposure to FI and Islamic investments (Sukuk, syndications, projects, restructuring). Mr. Collu has served as Head of International Banking at Vakif Katilim, since the bank started operations in 2016. Mr Collu received his Chartered Banker MBA degree and certification from Bangor University of Wales, in 2015, and Bachelor’s Degree in Business Administration from Istanbul University in 1998.

Ahmet Tacer

Ahmet Tacer

Capital Markets and Investment Banking Director, Golden Global Investment Bank
Ahmet Tacer
Ahmet Tacer
Capital Markets and Investment Banking Director, Golden Global Investment Bank

Ahmet Tacer completed his undergraduate education in Mechanical Engineering at Northeastern University and earned an MBA from the University of Massachusetts. Ahmet Tacer speaks fluent German and English.

From 1999 to 2005, he worked as Director of Structured Finance at ABN AMRO Bank, where he arranged syndicated loans for banks and corporate clients and structured asset-backed securitization transactions.

Between 2005 and 2012, he served as the Director of Global Capital Markets at Deutsche Bank, responsible for Debt and Equity Capital Markets origination for the EEMEA region and participated in numerous significant Eurobond and Global Bond issuances.

From 2013 to 2017, he worked as Director of Investment Banking at Q Invest, acquiring a local asset management company and managing Sukuk issuances.

He worked as a short-term consultant at World Bank, advising Pakistan’s government on its international Eurobond and Sukuk borrowing programs.

Since 2023, Ahmet Tacer has been serving as the Director of Capital Markets and Investment Banking at Golden Global Investment Bank, where he has managed the process of obtaining credit ratings from Fitch and JCR, establishing and arranging issuances for international and private Sukuk programs.

Dr Bayram Veli Salur

Dr Bayram Veli Salur

Chief Investment Officer, Kuveyt Turk Portfoy
Dr Bayram Veli Salur
Dr Bayram Veli Salur
Chief Investment Officer, Kuveyt Turk Portfoy

Dr Bayram Veli Salur graduated from the Industrial Engineering Department of Istanbul Technical University in 3.5 years with the top ranking. He completed his Master’s degree in Purdue University (US), under a Fulbright scholarship with a thesis entitled ‘Investor Sentiment in the Stock Market’. He received his Doctorate in Finance at the Business Administration Department of Istanbul Technical University. Bayram Veli Salur started his career in the Investor Relations Department of Turk Telecom and moved to the Derivatives Market Department of Borsa Istanbul after receiving his Master’s degree. He joined the Research Department of KT Portfoy in 2017. Bayram Veli Salur is experienced in macroeconomic studies, valuation and portfolio management. Bayram Veli Salur holds a Capital Market Activities Level 3 License, Derivative Instruments License, Real Estate Appraisal License, Credit Rating License as well as Corporate Governance Rating License and is a CFA charter holder.

Fatma Cinar

Fatma Cinar

Deputy Secretary General, Türki̇ye Katilim Bankalari Bi̇rli̇ği̇
Fatma Cinar
Fatma Cinar
Deputy Secretary General, Türki̇ye Katilim Bankalari Bi̇rli̇ği̇

Fatma Çınar has been working as the Deputy Secretary-General of Participation Banks Association of Türkiye (TKBB) since May 2024. She was a Director at TKBB between November 2022 and May 2024. She worked as an Islamic Finance Portfolio Lead at the UN Development Programme (UNDP) Istanbul International Center for Private Sector in Development from February 2022 to September 2023. Prior to joining UNDP, she worked as the Manager of International Relations and Corporate Communications at TKBB between August 2020 and January 2022. Before that, she worked as the Head of International Banking at an Islamic Bank (Kuveyt Turk) in Türkiye for more than 13 years. As an active practitioner, she has deep and wide expertise in Islamic banking, international relations, correspondent banking, foreign trade, sustainability, social finance, impact investing, investment banking, cash management, clearing services, structured finance, trade finance, project management, country and counterparty limit management, business strategy and corporate communication. She is on the Advisory Board of Marmara University Islamic Economics and Finance (MUISEF). She is also a member of the AAOIFI Communication Committee. She writes regularly on Islamic finance as a Türkiye correspondent for IFN and is also an author at Etkiyap which is dedicated to improving impact investing ecosystems. She lectures at universities and has also been a trainer at TKBB in Islamic Finance. Çınar graduated from Istanbul University with a degree in Business Administration and Industrial Engineering in 2005 and 2006.

Hojamurod Hojaev

Hojamurod Hojaev

Senior Manager, Relationship Management, International Islamic Trade Finance Corporation 
Hojamurod Hojaev
Hojamurod Hojaev
Senior Manager, Relationship Management, International Islamic Trade Finance Corporation 

Hojamurod Hojaev is a private sector development professional with 14 years of experience working with multilateral development banks. Since 2017, Hojamurod Hojaev has worked with the International Islamic Trade Finance Corporation (ITFC), the trade finance arm of the Islamic Development Bank Group. Since 2019, Hojamurod has covered the private sector operations of ITFC in Türkiye, Azerbaijan and Central Asia countries. Between 2015-2017, Hojamurod Hojaev worked with ICD, the private sector arm of the Islamic Development Bank Group, as an Investment Analyst covering FI debt and equity operations. Prior to joining the IsDB Group, Hojamurod worked with the European Bank for Reconstruction and Development and the International Finance Corporation. As a development finance practitioner, Hojamurod has experience in Islamic finance, trade finance, private sector, FI debt and equity as well as impact financing. Hojamurod graduated from University of Montana, in the US with an MBA in 2010.

Mohd Radzuan Mohamed

Mohd Radzuan Mohamed

CEO, Malaysian Takaful Association
Mohd Radzuan Mohamed
Mohd Radzuan Mohamed
CEO, Malaysian Takaful Association

Mohd Radzuan Mohamed has more than 20 years of experience in the industry with expertise in Takaful and re-Takaful, insurance and re-insurance, broking, consulting and adjusting. Prior to joining MTA, he was a Senior Manager in various insurance and Takaful companies.

He is currently the Grand Councilor of The Chartered Institute of Islamic Finance Professionals (CIIF). Radzuan is also an Adjunct Professor at the Faculty of Business and Administration of Universiti Teknologi Mara (UiTM).

Radzuan is a Member of the Lembaga Zakat Selangor (MAIS) Board in the Risk, Integrity and Compliance Committee. He received the Risk Icon Award for his outstanding contribution in the field of Enterprise Risk Management.

He is a Fellow Member of The Malaysian Insurance Institute (FMII), a Certified Professional in Islamic Finance (CPIF), an Associate of the Institute Risk Management (AIRM, UK) with an Enterprise Risk Professional Certification (IERP) as well as an alumnus of the Glasgow Caledonian University (GCU) in Scotland.

Ömer Alperen Bilgin

Ömer Alperen Bilgin

Head of Financial Institutions, T.O.M. Digital Participation Bank
Ömer Alperen Bilgin
Ömer Alperen Bilgin
Head of Financial Institutions, T.O.M. Digital Participation Bank

Ömer Alperen Bilgin is a seasoned Islamic banking professional with over 12 years of experience across financial institutions, foreign trade marketing, trade finance and bilateral funding. He graduated from Istanbul University’s Faculty of Economics, in the Public Finance Department in 2011.

Bilgin began his career at Kuveyt Türk Participation Bank, advancing from Assistant Relationship Manager to Vice-President in the International Banking/Financial Institutions Department. Notably, he played a key role in establishing Kuveyt Türk’s China Desk and expanded the bank’s correspondent network across 88 countries.

In March 2024, Bilgin joined T.O.M. Digital Participation Bank as Head of Financial Institutions. Within eight months, he successfully opened the bank’s USD Nostro account, a record timing among the Turkish banks. Under his leadership, T.O.M.’s correspondent banking network widened more than triple times while strengthening the bank’s local and international presence.

Osman Karakütük

Osman Karakütük

Executive Vice President - Treasury Management and International Banking, Ziraat Participation Bank
Osman Karakütük
Osman Karakütük
Executive Vice President - Treasury Management and International Banking, Ziraat Participation Bank

Osman Karakütük is Executive Vice-President – Treasury Management and International Banking at Ziraat Katilim. Born in Ankara in 1975, Osman graduated from Ankara University’s Faculty of Political Science. He completed his undergraduate studies in Sakarya University and worked at the CBRT Headquarters as a clerk between 1998-1999. In 1999, he started working at Ziraat Bank as an Assistant Inspector and was then promoted to Inspector, Chief Inspector, Vice-President of the Inspection Board, Branch Manager, İzmir 1st Region Manager, Head of Branch Operations and Head of Channel Management, respectively. Osman was appointed as Ziraat Participation’s Vice-President in charge of Financial Coordination and Human Resources on 15 August 2017 and he has been serving as the Vice-President in charge of Treasury Management and International Banking since 24 August 2017.

Dr Saygın Sungur

Dr Saygın Sungur

Chief Financial Officer, Katılım Finans Kefalet A.Ş.
Dr Saygın Sungur
Dr Saygın Sungur
Chief Financial Officer, Katılım Finans Kefalet A.Ş.

Sungur was born in Istanbul in 1981. He graduated from Yeditepe University, Department of Business Administration in 2003. After carrying out academic studies on ‘European Union Monetary Policy’ at Leiden University in the Netherlands as a European Union Jean Monnet Scholar, he completed his PhD in Finance at Yeditepe University.

Between 2006 and 2012, he worked in Deposit Analytics, Investment Banking and Capital Markets Product Management in institutions such as Eurobank Tekfen and Akbank. Sungur, who continued his career at Türkiye Finans Katılım Bankası between 2012 and 2021, served as Fund Collection and Investment Products Vice-President between 2018 and 2021. In 2021, he was appointed as Banking Services Coordinator to the Participation Banks Association of Türkiye. Saygın Sungur also continues to lecture on Financial Markets at Marmara University Institute of Islamic Economics.

As of April 2023, he was appointed as the Deputy General Manager responsible for Finance, Administrative Affairs and Human Resources at Katılım Finans Kefalet A.Ş.

Sebnem Alp

Sebnem Alp

Country Head Turkey, Eastern Europe and Central Asia, UK Export Finance
Sebnem Alp
Sebnem Alp
Country Head Turkey, Eastern Europe and Central Asia, UK Export Finance

Şebnem Alp is the Country Head for Turkey, Eastern Europe and Central Asia at UK Export Finance (UKEF). In this role, Şebnem promotes and supports the export growth of UK companies while managing and building relationships and partnerships with a range of project contractors, financial institutions and other stakeholders in the region. Prior to this position, Sebnem worked at Banco Sabadell Turkey Rep. Office as Deputy Representative and Banco Sabadell SA in Spain. Her responsibilities included coordinating country strategy, transaction management and market engagement with stakeholders on various products such as export and trade finance, supply chain finance, syndication, and deal origination. She also previously worked for Halk Bank, managing relationships with financial institutions in key regions such as the Americas and Benelux to facilitate all trade finance and structured finance products.

Seçil Yıldız

Seçil Yıldız

Executive Vice President, Sustainability and Impact Leader, Development and Investment Bank of Türkiye
Seçil Yıldız
Seçil Yıldız
Executive Vice President, Sustainability and Impact Leader, Development and Investment Bank of Türkiye

After graduating from Boğaziçi University, Department of Business Administration, Yildiz began her career at the Industrial Development Bank of Türkiye in 1998. She held various managerial positions at Bayerische Hypo-und Vereinsbank AG, UniCredit Investment Securities and ING Bank where she assumed wide variety of investment banking roles. Yildiz joined the Development and Investment Bank of Türkiye in 2019 as Executive Vice-President, responsible from Investment Banking, Financial Analysis and Project Evaluation, Corporate Communications as well as Sustainability and Environmental Social Impact Management Divisions. Yildiz is also Chairperson of the Development Asset Leasing Companies and Board Member of Turkish Investment Initiative Portfolio Management Company. Currently, Yıldız is a Board Member of the Business Council for Sustainable Development (BCSD Türkiye) and Vice-Chairperson of the Impact Investing Advisory Board (EYDK). She is also Member of the Advisory Board of the Operating Principles for Impact Management.

Zara Ahmed

Zara Ahmed

Regional Head of Policy, Eastern Europe and Central Asia at Department for Business and Trade (DBT), British Consulate of Türkiye​
Zara Ahmed
Zara Ahmed
Regional Head of Policy, Eastern Europe and Central Asia at Department for Business and Trade (DBT), British Consulate of Türkiye​
Zeynep Çalikiran Yaşar

Zeynep Çalikiran Yaşar

Head of Financial Institutions, Kuveyt Turk Katilim Bankasi
Zeynep Çalikiran Yaşar
Zeynep Çalikiran Yaşar
Head of Financial Institutions, Kuveyt Turk Katilim Bankasi

Zeynep Çalıkıran Yaşar graduated from Boğaziçi University with a degree in Management Information Systems. Zeynep currently serves as the Head of Financial Institutions at Kuveyt Türk, bringing over 10 years of experience to the role. In previous positions, she has taken on responsibilities in credits, project finance and investment banking. She has led efforts to establish and improve sustainability frameworks and sustainable finance strategies, as well as structured financing solutions at Kuveyt Türk.

Advisory Board

Burak Gencoglu

Burak Gencoglu

Partner, Gençoğlu & Ergün Law Firm
Burak Gencoglu
Burak Gencoglu
Partner, Gençoğlu & Ergün Law Firm

Burak Gencoglu has over 10 years of experience in mergers and acquisitions (M&A), capital markets, banking and project finance transactions.

Burak earned a Bachelor of Law (Honors) degree from Marmara University in Istanbul and holds a Master of Law degree from King’s College London where he majored in ınternational business law. After completing his postgraduate studies in the UK, he pursued his professional career in Turkey and worked for a Legal 500 listed law firm and as a senior attorney at the legal department of PwC in Istanbul. He has represented clients in diverse sectors including finance, energy, pharmaceuticals, construction, insurance, media and telecommunications. He is the co-founder of Gencoglu & Ergun Law Firm where he provides a wide range of legal services to his clients in Turkish and international law matters including banking and finance, data privacy, commercial and corporate law and M&A.

Burak has been a team member of a number of major projects during his career and he is currently providing a full range of legal and consultancy services to his local and international, corporate and individual clients in the various areas of law.

Burak’s articles and legal opinions have been published in law journals, in addition to regular interviews and articles in the press. He regularly contributes articles and reports in Islamic Finance news as the M&A sector correspondent.

Esma Karabulut

Esma Karabulut

Director of Investment Banking and Investor Relations, Türkiye Emlak Katılım Bankası
Esma Karabulut
Esma Karabulut
Director of Investment Banking and Investor Relations, Türkiye Emlak Katılım Bankası
Fatma Cinar

Fatma Cinar

Deputy Secretary General, Türki̇ye Katilim Bankalari Bi̇rli̇ği̇
Fatma Cinar
Fatma Cinar
Deputy Secretary General, Türki̇ye Katilim Bankalari Bi̇rli̇ği̇

Fatma Çınar has been working as the Deputy Secretary-General of Participation Banks Association of Türkiye (TKBB) since May 2024. She was a Director at TKBB between November 2022 and May 2024. She worked as an Islamic Finance Portfolio Lead at the UN Development Programme (UNDP) Istanbul International Center for Private Sector in Development from February 2022 to September 2023. Prior to joining UNDP, she worked as the Manager of International Relations and Corporate Communications at TKBB between August 2020 and January 2022. Before that, she worked as the Head of International Banking at an Islamic Bank (Kuveyt Turk) in Türkiye for more than 13 years. As an active practitioner, she has deep and wide expertise in Islamic banking, international relations, correspondent banking, foreign trade, sustainability, social finance, impact investing, investment banking, cash management, clearing services, structured finance, trade finance, project management, country and counterparty limit management, business strategy and corporate communication. She is on the Advisory Board of Marmara University Islamic Economics and Finance (MUISEF). She is also a member of the AAOIFI Communication Committee. She writes regularly on Islamic finance as a Türkiye correspondent for IFN and is also an author at Etkiyap which is dedicated to improving impact investing ecosystems. She lectures at universities and has also been a trainer at TKBB in Islamic Finance. Çınar graduated from Istanbul University with a degree in Business Administration and Industrial Engineering in 2005 and 2006.

Dr Kamola Bayram

Dr Kamola Bayram

Assistant Professor, KTO Karatay University
Dr Kamola Bayram
Dr Kamola Bayram
Assistant Professor, KTO Karatay University

Dr Kamola Bayram is an assistant professor in the Department of Islamic Economics and Finance at KTO Karatay University, Turkey.

Previously, she served as an assistant professor at the IIUM Institute of Islamic Banking and Finance and as the project director at the International Council of Islamic Finance Educators (ICIFE). She has conducted a number of training programs in Islamic finance in Malaysia, Indonesia and the Philippines and was an editor of the quarterly ICIFE Bulletin.

Dr Kamola has served as a research fellow at the IFSB where she was involved in the development of the Stress Testing Framework for Islamic Banks. She has written articles and chapters on Islamic social finance, Islamic capital market, wealth management, behavioral finance and portfolio allocation. She teaches subjects such as Islamic economics, Islamic finance, taxation for Islamic financial institutions, Islamic capital markets and behavioral finance.

Dr Kamola is the education sector correspondent in Islamic Finance news and an editor of the Turkish Journal of Islamic Economics. She was 40th in the WOMANi 2019 list for her excellent advocacy work for Islamic banking and finance.

Professor Dr M Kabir Hassan

Professor Dr M Kabir Hassan

Professor of Finance, Department of Economics and Finance, University of New Orleans
Professor Dr M Kabir Hassan
Professor Dr M Kabir Hassan
Professor of Finance, Department of Economics and Finance, University of New Orleans

Professor Dr M Kabir Hassan is Professor of Finance in the Department of Economics and Finance at the University of New Orleans. He currently holds four endowed Chairs – Hancock Whitney Chair Professor of Economics I, Hancock Whitney Chair Professor of Economics II, Hibernia Professor of Economics and Finance, and Bank One Professor in Business – in the University of New Orleans. Professor Hassan is the Winner of the 2016 IsDB Prize in Islamic Banking and Finance. Professor Hassan received his BA in Economics and Mathematics from Gustavus Adolphus College, Minnesota, USA, his MA in Economics and PhD in Finance from the University of Nebraska-Lincoln, USA respectively. Dr. Hassan stood first in the combined merit list in the Secondary School Certificate (equivalent to O level) in 1978 from Comilla Zilla School, Comilla, Bangladesh in 1978 and Higher Secondary Certificate (equivalent to A level) in 1980 from Comilla Victoria Government College, Comilla, Bangladesh in 1980, respectively. Professor Hassan was selected as a Senior Fulbright Scholar for 2022-2023. Professor Hassan is a financial economist with consulting, research and teaching experiences in development finance, money and capital markets, Islamic finance, corporate finance, investments, monetary economics, macroeconomics, Islamic banking and finance and international trade and finance. Professor Hassan has been a consultant for the World Bank, International Monetary Fund, African Development Bank, Transparency International-Bangladesh, IsDB, the UN Development Programme, the Bangladesh Bank, the Saudi Arabian Monetary Authority, Government of Turkey and many private organizations.

Dr Necmettin Kizilkaya

Dr Necmettin Kizilkaya

Professor and head of department, Istanbul University
Dr Necmettin Kizilkaya
Dr Necmettin Kizilkaya
Professor and head of department, Istanbul University
Dr Saygın Sungur

Dr Saygın Sungur

Chief Financial Officer, Katılım Finans Kefalet A.Ş.
Dr Saygın Sungur
Dr Saygın Sungur
Chief Financial Officer, Katılım Finans Kefalet A.Ş.

Sungur was born in Istanbul in 1981. He graduated from Yeditepe University, Department of Business Administration in 2003. After carrying out academic studies on ‘European Union Monetary Policy’ at Leiden University in the Netherlands as a European Union Jean Monnet Scholar, he completed his PhD in Finance at Yeditepe University.

Between 2006 and 2012, he worked in Deposit Analytics, Investment Banking and Capital Markets Product Management in institutions such as Eurobank Tekfen and Akbank. Sungur, who continued his career at Türkiye Finans Katılım Bankası between 2012 and 2021, served as Fund Collection and Investment Products Vice-President between 2018 and 2021. In 2021, he was appointed as Banking Services Coordinator to the Participation Banks Association of Türkiye. Saygın Sungur also continues to lecture on Financial Markets at Marmara University Institute of Islamic Economics.

As of April 2023, he was appointed as the Deputy General Manager responsible for Finance, Administrative Affairs and Human Resources at Katılım Finans Kefalet A.Ş.

Seçil Yıldız

Seçil Yıldız

Executive Vice President, Sustainability and Impact Leader, Development and Investment Bank of Türkiye
Seçil Yıldız
Seçil Yıldız
Executive Vice President, Sustainability and Impact Leader, Development and Investment Bank of Türkiye

After graduating from Boğaziçi University, Department of Business Administration, Yildiz began her career at the Industrial Development Bank of Türkiye in 1998. She held various managerial positions at Bayerische Hypo-und Vereinsbank AG, UniCredit Investment Securities and ING Bank where she assumed wide variety of investment banking roles. Yildiz joined the Development and Investment Bank of Türkiye in 2019 as Executive Vice-President, responsible from Investment Banking, Financial Analysis and Project Evaluation, Corporate Communications as well as Sustainability and Environmental Social Impact Management Divisions. Yildiz is also Chairperson of the Development Asset Leasing Companies and Board Member of Turkish Investment Initiative Portfolio Management Company. Currently, Yıldız is a Board Member of the Business Council for Sustainable Development (BCSD Türkiye) and Vice-Chairperson of the Impact Investing Advisory Board (EYDK). She is also Member of the Advisory Board of the Operating Principles for Impact Management.

Dr Tawfik Azrak

Dr Tawfik Azrak

Assistant Professor, Social Sciences University of Ankara (ASBU)
Dr Tawfik Azrak
Dr Tawfik Azrak
Assistant Professor, Social Sciences University of Ankara (ASBU)

Dr Azrak is an experienced and accomplished professional with over 10 years of experience in Islamic Banking and finance. He currently serves as an Assistant Professor at the Social Science University of Ankara, Turkey.

Dr Azrak’s expertise in Islamic finance has enabled him to supervise numerous MSc and PhD students in various universities on topics related to the field.

Dr Azrak’s contributions to Islamic finance and auditing studies have been extensive, with over 50 published research papers in prestigious journals such as SCOPUS and ISI. His work has had a significant impact on the field, addressing a range of issues related to banking, accounting and finance.
Throughout his career, Dr Azrak has held various positions in international institutions and universities in Turkey, Syria, Malaysia, Lebanon and Kuwait.

Dialogues Partners

LEAD PARTNER

BTD-International Fund House

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BTD-International Fund House, headquartered in Turkiye, operates as a financial holding company with subsidiaries spanning Europe, the Middle East and Asia. It specializes in providing tailored financing solutions for projects ranging from small-scale to large-scale worldwide. Additionally, BTD offers investment and business capital through managed funds and Sukuk issuance. With a diverse investment portfolio encompassing sectors like education, manufacturing, commodity trading, infrastructure, agriculture, tourism and hospitality, BTD maintains a global presence. As a testament to its industry involvement, BTD is affiliated with organizations like the International Securities Lending Association, Luxembourg Private Equity & Venture Capital Association and Association of The Luxembourg Fund Industry. With 25 years of experience, BTD has established robust investment processes and rigorous risk management practices, solidifying its position as a well-established entity in the financial landscape.

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STRATEGIC PARTNER

Participation Banks Association of Türkiye

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The Participation Banks Association of Türkiye (TKBB) was established in 2001 as a professional public institution with the mission to represent the participation banking sector nationally and internationally, support its development in Türkiye, contribute to increasing its market share, and safeguard the rights and interests of participation banks.

TKBB collaborates with public authorities, regulatory institutions, and other stakeholders to raise public awareness and understanding of the sector’s contribution to the Turkish economy. The Association operates through various working committees and offers comprehensive training programs to support member banks’ strategic priorities. As of today, TKBB represents ten member participation banks, serving as the unified voice of the participation banking sector in Türkiye.

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MULTILATERAL STRATEGIC PARTNERS

The Islamic Corporation for the Development of the Private Sector (ICD)

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The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and is part of the Islamic Development Bank (IDB) Group.

The ICD was established in November 1999 to support the economic development of its member countries through the provision of finance for private sector projects, promoting competition and entrepreneurship, providing advisory services to governments and private companies and encouraging cross-border investments.

The ICD has an authorized capital of US$4 billion. Currently, the shareholders of the ICD are the IDB (50%), 53 Islamic countries (30%) and five public financial institutions (20%).

ICD mandate and objectives

The ICD fosters sustainable economic growth in its 53 member countries by:

  • Financing private sector investment
  • Mobilizing capital in the international financial markets, and
  • Providing advisory services to business and governments.

The ICD selects the financing projects based on their contribution to economic development considering factors such as job creation, Islamic finance development, contribution to exports, etc. The ICD also provides advisory services to governments and private sector groups on policies designed to encourage the establishment, expansion and modernization of private enterprises, the development of capital markets, best management practices and to enhance the role of the market economy. The ICD operates to complement the activities of the IDB in member countries.

The ICD is rated ‘AA/FQ’ by Fitch Ratings, ‘Aa3/P-1’ by Moody’s Investors Service and ‘A+’ by Standard & Poor’s.

FOR MORE INFORMATION

Tel: (966-12) 6361400; (966-12) 6441644

Fax: (966-12) 644 4427

Email: [email protected]

Website: www.icd-ps.org

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The Islamic Corporation for The Insurance Of Investment And Export Credit (ICIEC)

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Established 26 years ago in 1994 as a multilateral institution and a member of the Islamic Development Bank Group, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) was tasked to promote cross-border trade and foreign direct investments in its member countries.

The ICIEC’s mission is to make trade and investment between member countries and the world more secure through the Shariah compliant risk mitigation tool. Its vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in member countries.

The ICIEC is the only multilateral export credit and investment insurance corporation in the world that provides Shariah-compliant insurance and reinsurance solutions.

Today, the ICIEC supports trade and investment flows in 47 member countries spanning across Europe, Asia, the Middle East and Africa. Its target clients are corporates (both exporters and investors), banks and financial institutions as well as export credit agencies and insurers.

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International Islamic Trade Finance Corporation

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The International Islamic Trade Finance Corporation (ITFC) is a member of the IDB Group. It was established with the purpose of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socioeconomic conditions of the people across the world. The ITFC commenced operations in January 2008 and has since consolidated all trade finance businesses that used to be handled by various windows within the IDB Group. Earning an ‘A1’ rating from Moody’s Investors Service reflects the ITFC’s efficiency in service delivery by responding swiftly to customer needs in a market-driven business environment.

Since 2008, the ITFC has provided more than US$40.2 billion of trade financing to OIC member countries, making it the leading provider of trade solutions for the needs of OIC member countries. With a mission of being a catalyst for trade development among OIC member countries and beyond, the ITFC helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.

 

Contact us at:

Twitter: @ITFCCORP
Facebook: @ITFCCORP
Linkedin: International Islamic Trade Finance Corporation (ITFC)

Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: [email protected]
Website: http://www.itfc-idb.org/en

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IsDB Group Business Forum (THIQAH)

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The Islamic Development Bank Group Business Forum (THIQAH) is the window of the IsDB Group that facilitates contact and coordination between entities concerned of the IsDB Group and private sector firms and related institutions in IsDB Group member countries. The main objective of THIQAH is to establish a unique platform for effective dialogue, cooperation and inclusive partnership for business leaders committed to partnering in promising investment opportunities. Through facilitation and catalyst roles, THIQAH will be leveraging the IsDB Group’s resources to offer necessary services and confidence to investors and to establish strategic partnerships with the leaders of the private sector. The primary focus will be on maximizing cross-border investment among member countries to be supported by IsDB Group’s financial products and services. (www.idbgbf.org)

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PARTNERS

Dubai Islamic Bank

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Established in 1975, Dubai Islamic Bank (DIB) is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world’s first full service Islamic bank and among the largest Islamic banks in the world. With group assets almost reaching US$90 billion and a market capitalization of nearly US$9 billion, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over five million customers across the group, DIB offers an increasing range of innovative Shariah compliant products and services to retail, corporate and institutional clients.

The bank’s ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as corporate social responsibility and consultancy services.

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Hejaz

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Hejaz is a leading financial institution that delivers a broad range of Islamic financial services across investment management, superannuation services, financial advice and lending to a large and diversified client base that includes corporations, financial institutions and individuals.

Founded in 2014, the firm is headquartered in Melbourne, Australia and maintains a presence all around the world.

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IdealRatings

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IdealRatings was incorporated in 2006 in San Francisco with a corporate objective to provide SRI/ESG and Shariah compliant solutions to ethical investors and enable them to identify such instruments across different asset classes in the global market. IdealRatings serves clients in over 30 countries with a range of capital market solutions including:

  • Equities – A web-based platform covering over 40,000 stocks, where fund managers can screen equities using different, custom-built ESG/SRI/Responsible Investments and Shariah rulebooks or guidelines. This solution caters to different purification calculation methodologies with a comprehensive set of reports for fund managers to manage their portfolio.
  • REITs – Global coverage of all listed REITs that could be screened in accordance with different standard Shariah rulebooks or guidelines.
  • Indexes – Co-branded and jointly marketed by FTSE-Russell Indexes and a separate series with Thomson Reuters for the global markets, designed for fund management and investment benchmarking. In addition, IdealRatings is able to provide custom-built indexes for the fund management industry.
  • Sukuk – A unique solution which includes the global Sukuk and a pioneering Sukuk-screening solution that enables fund managers to customize their Sukuk selection in accordance to their Shariah rulebook, guidelines or investment preference, and
  • Brokerage – The solution provides broking houses the ability to screen global equity markets, a technical analysis of the markets and equities, buy/sell/hold recommendations and purification amounts.
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Malaysian Takaful Association

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The Malaysian Takaful Association (MTA), a trade association representing Malaysia’s 18 licensed Takaful and re-Takaful operators, is a key driver in spearheading the transformations and strategies identified by the industry to achieve the desired future Takaful landscape and create value for the industry, society and country. Operating in line with the principles of Maqasid Shariah in every aspect of its conduct, the strategic objectives of MTA’s Reform Plan 2022–2023 (Islah23) focus on the areas of visibility, good governance, operational efficiency and organizational sustainability. Being the voice of the industry in forwarding the country’s Takaful agenda in the local, regional and international arenas, MTA works closely with Bank Negara Malaysia and the Ministry of Finance, and interacts with government agencies, local authorities, general public and the media. MTA was established under the Societies Act 1966 in November 2002.

For more information, please visit www.takaful4all.org or follow us @MalaysianTakafulAssociation on Facebook and Instagram.

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Vakif Katilim

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Vakıf Katılım was established as a joint stock company on 25.06.2015 within the scope of the Banking Regulation and Supervision Agency’s establishment license dated 27.02.2015 and numbered 6205 which was published in the Official Gazette dated 03.03.2015 and numbered 29284. The Bank has obtained an operating license from the Banking Regulation and Supervision Agency on 17.02.2016.

Vakıf Katılım continues its activities as an important actor of the “Foundation Culture”, which has been an important part of our culture for centuries and is maintained and kept alive today by its main founder, the General Directorate of Foundations. With the important mission it has undertaken, it aims to carry out its activities within the scope of the principle of being beneficial for the entire society.

Vakıf Katılım contributes to the national economy with over 200 branches and more than 3000 employees.

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STANDARDS AND KNOWLEDGE PARTNER

LEAD MEDIA PARTNERS

Islamic Finance news

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Islamic Finance news (IFN) is the company’s principal publication. IFN is a digital, subscription-based publication available online and through smartphone and tablet applications. Published weekly, the journal provides exclusive and comprehensive coverage of the global Islamic financial markets through in-house analysis and expert external contributions; in addition to a daily news service, additional quarterly supplements and a variety of special annual issues.

Differentiated by trusted relationships across the industry since 2004, IFN is able to leverage an unrivalled network of contacts and connections to provide unparalleled insight into the issues affecting global Shariah compliant markets: along with in-house analysis, news, interviews, reports, industry and sector data, and much more.

With an archived website containing over 80,000 exclusive reports, the IFN portfolio also hosts a suite of proprietary tools including the industry’s largest interactive terminology glossary, a directory of over 9,000 global Islamic financial institutions and a portal to Islamic Banking Intelligence, the most comprehensive source of segmented Islamic banking financial data.

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IFN Fintech

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Fintech is one of the most exciting sectors of the global financial industry, breaking boundaries and challenging preconceptions in one of the shake-ups of the century. A new class of financial players is disrupting the status quo – and financial institutions must embrace this change or face being left behind as the financial landscape transforms beyond recognition.

But although fintech as a whole has been well-served by the media, the Islamic segment has so far made limited penetration on public consciousness – despite the enormous potential it represents for the industry. There is a clear chasm between the multitude of pioneering entrepreneurs, start-ups and fintech firms making waves in the Islamic space; and the interested investors, institutions and stakeholders keen to explore these opportunities.

Recognizing this information gap, IFN is delighted to introduce to you a bespoke multi-channel platform – IFN FinTech.

Comprised of four tranches, IFN FinTech is a one-stop-shop for industry knowledge, networking and communication – supported by our unrivaled global network, our strong social media platform and our trusted multimedia Islamic finance offering.

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IFN Sustainable

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IFN Sustainable, comprises a dedicated portal, weekly news alert, audio and video podcasts, interviews, data, exclusive reports, case studies, research, virtual roundtables, and hybrid forums. With a focus on the latest news and developments, IFN Sustainable is also be a pivotal platform for thought leadership and the launch of new products and services within the industry. IFN Sustainable also partners with some of the leading organizations associated with the Islamic and sustainable finance industry, providing holistic coverage.

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IFN Investor

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The Islamic investment industry is a fastgrowing and dynamic sector within the Islamic finance space, with a ballooning pool of assets under management, reflecting a rapidly increasing demand for Islamic investment products.

Yet this increased demand has not been matched by increased activity in the media space.

And, although IFN has been reporting on the Islamic investment market for almost 20-years, we noticed we could do more and decided to rectify this imbalance.

After extensive research and surveying of the global Islamic investor industry on what they would like to see, we have designed and built a one stop portal for all those involved or interested in the local, regional, and global Shariah compliant investment market.

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MEDIA PARTNER

Registration

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IFN Monthly Review: May – Islamic banking accelerates globally

IFN Monthly Review: May – Islamic banking accelerates globally

Among the key developments in May 2026 were the debut international Sukuk plans of Bank of Maldives’, a credit-enhanced retail...

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Dubai Islamic Bank enters Turkiye’s digital banking and fintech scene with latest investment

Dubai Islamic Bank (DIB) has entered the Turkish digital banking and fintech sector with its investment in Technology…

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Sovereign Securities: Turkiye partners with UAE entity to issue Sukuk

The Turkish government partnered with a UAE entity to issue Sukuk for the purpose of reconstructing areas in Turkiye…

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Turkish Islamic bank becomes first international bank in Somalia in over five decades

Ziraat Katilim Bank, one of Turkiye’s participation banks, officially launched its branch in Mogadishu, Somalia…

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Register For IFN Daily Alert

The Previous IFN Turkiye Event

IFN Turkiye OnAir Roadshow 2022

Turkiye, a vital market for participation finance (Islamic finance), had made plans to introduce new regulations for interest-free finance systems. The country had established three state participation lenders and attached great importance to non-interest finance solutions.

There were 53 banks in Turkiye, out of which six were fully-fledged participation banks, listed with the BRSA. One influential international rating agency believed that the share of participation banking assets in Turkiye was set to at least double over the next five years, helped once more by a supportive environment and expanding distribution network. Since our last visit, Turkiye had issued its debut green Sukuk facility, through state-owned Turkiye Emlak Katilim Bankasi. We had also witnessed the mooting of a mega participation bank, set up to address the financing needs and requirements of Shariah financial institutions and infrastructure projects alike. More recently during an official visit by the Malaysian Prime Minister to Turkiye to meet his counterpart and discuss bilateral cooperation, the two entities had signed an agreement to establish Turkiye’s first Islamic digital bank.

IFN Turkey OnAir Roadshow 2022
Full Details
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About REDmoney Events

REDmoney events designs, organizes and hosts industry-leading conferences, forums, roadshows, seminars and dialogues focusing on the Islamic financial markets across a global, regional and national level. Leveraging an exceptional network of the industry’s elite and supported by the expertise of the REDmoney publishing and seminars divisions, REDmoney Events are able to provide access to a unique array of influential speakers, panelists and participants from a cross-section of the global industry to debate the most significant issues affecting the Shariah compliant financial markets.

REDmoney events are differentiated by their complimentary yet qualified attendance structure, ensuring the highest quality of both delegates and contributors. Comprehensive and cuttingedge, attendance ensures exclusive access to the leaders in their field across all sectors and markets.

The annual IFN Asia and IFN UK Forums are categorically recognized as their continent’s leading industry events since their inception in 2006 and 2007, respectively. The Dialogues series have also become an integral element of the REDmoney events series and have cemented their position as leading, must-attend, events.

In 2024, we welcome the IFN Investor Forums, which coincide with the new IFN Investor portal.

For any inquiries contact us

Our team will be glad to answer any questions you may have about this event.

Contact Us

About Us

REDmoney Events designs, organizes and hosts industry-leading conferences, forums, roadshows and seminars focusing on the Islamic financial markets across a global, regional and national level.

+603 2162 7800
[email protected]

Our Publications

  • Islamic Finance news
  • IFN Investor
  • IFN Sustainable
  • IFN Fintech

Recent Tweets

Islamic Finance News @ifn_news ·
5 Jun

We are pleased to welcome Aijaz Hussain, Executive Vice President of Sales & Director, UIF Corporation to the speaker line-up for IFN Investor Americas Forum 2026, taking place in S&P Global Offices, New York on 16th June 2026.

FREE registrations now open.

Islamic Finance News @ifn_news ·
5 Jun

We are pleased to welcome Ahmad Quqa, Founder & Chief Executive Officer, Crescent Private Wealth, to the speaker line-up for IFN Investor Americas Forum 2026, taking place in S&P Global Offices, New York on 16th June 2026.

FREE registrations now open.

Islamic Finance News @ifn_news ·
5 Jun

Openbank, a digital bank in Uzbekistan, has held discussions with Bahraini bank Alubaf Arab International Bank on potential cooperation in Islamic finance, according to a statement by Openbank.

To read full article: https://www.islamicfinancenews.com/openbank-explores-islamic-finance-cooperation-with-alubaf-arab-international-bank.html

Islamic Finance News @ifn_news ·
5 Jun

We are proud to welcome IsDB Group Business Forum (THIQAH) as Multilateral Strategic Partner for IFN Investor America Forum 2026.

This event will take place on 16th June 2026 at New York.

FREE registrations now open:
https://redmoneyevents.com/event/ifninvestoramericas2026/

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We are proud to welcome @smartpension as Partner f We are proud to welcome @smartpension as Partner for IFN UK Forum 2026.

This event will take place on 7th September 2026 at Mansion House, London.

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�#IFNUKForum2026 #REDmoneyEvents #REDMoney #IFN #Finance #UK
We are proud to welcome Zunikh as Partner for IFN We are proud to welcome Zunikh as Partner for IFN Asia Issuers and Investors Forum 2026.

This event will take place on 29th September 2026 at EQ Kuala Lumpur.

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We are proud to welcome Zunikh as Partner for IFN We are proud to welcome Zunikh as Partner for IFN UK Forum 2026.

This event will take place on 7th September 2026 at Mansion House, London.

FREE registrations now open.

#IFNUKForum2026 #REDmoneyEvents #REDMoney #IFN #Finance #UK
We are proud to welcome Zunikh as Partner for IFN We are proud to welcome Zunikh as Partner for IFN Investor America Forum 2026.

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🌙✨ Eid Mubarak from Islamic Finance News! Wishing 🌙✨ Eid Mubarak from Islamic Finance News!

Wishing our global Islamic finance community joy, unity and continued success this Eid. 🤍🌙

#IslamicFinance #Eid2026
IsDB announces the winner of the Most Innovative T IsDB announces the winner of the Most Innovative Trade Development Initiative of the Year: EUR160 million (US$186.31 million) commodity Murabahah facility for Agrobank

The EUR160 million commodity Murabahah facility for Agrobank, backed by The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and Standard Chartered, is a transformative milestone for Uzbekistan’s financial landscape. As the country’s first-ever commodity Murabahah transaction, it successfully navigated a complex regulatory vacuum, establishing a Shariah compliant blueprint for future trade liquidity.

The deal represents a “triple-first”: The inaugural use of this instrument in Uzbekistan, ICIEC’s first direct commercial banking partnership in the nation and a massive capital injection specifically for the underserved SMEs and retail sectors.

Read full article here @ifnforums 🎉
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