19th November 2025
Riyadh
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#IFNEVENTS2025
IFN KSA Dialogues 2025
Introduction to 2025
The Kingdom of Saudi Arabia remains the leading Islamic banking and finance jurisdiction, with its Shariah banking sector holding a 74.9% share of the country’s total banking assets, accounting for about one-third of global Shariah banking assets.
The Kingdom’s international repertoire is backed by an illustrious track record across the different segments of Islamic finance. It is the most prolific sovereign Sukuk issuer globally and it has nurtured the world’s fastest growing Shariah cooperative insurance industry. It has also built one of the largest Islamic asset management sectors.
The prospects are even brighter with Saudi Vision 2030 in the driving seat. The government expects investment activities to inject at least US$3 trillion into the national economy by 2030.
By 2030, investment contribution to GDP would likely increase to 30%, catapulting Saudi Arabia to become one of the 15 largest economies in the world, further cementing its global Islamic finance hub aspirations.
It is in this vibrant backdrop, IFN returns to Riyadh with the highly successful IFN Dialogues series, exploring opportunities and challenges with market leaders in a conducive and highly curated Chatham House Rules setting.
IFN Dialogues 2025
Since REDmoney events’s inception in 2006, we have always been at the cutting edge, delivering timely events in a format suited best to each market and sector.
IFN Dialogues were first introduced in Luxembourg in 2014. Since then, we have developed the concept and are delighted to bring this format to the more mature and developed markets, which prefer in-depth discussion and debate over the more traditional forum format.
IFN Dialogues offer an independent and impartial platform for the identification and resolution of specific issues, challenges and opportunities facing the industry through a high-level discussion designed to determine the potential development of a particular country, sector or asset class.
Who should attend
- Brokerage Firms
- Consultancies
- Corporate & Investment Banks
- Custodians
- Family Offices
- Financial Service Providers
- Fund Managers
- Institutional Investors
- Insurance & Takaful Companies
- Law Firms
- Multi Family Offices
- Pension Fund Managers
- Private & Wealth Managers
- Private Equity Firms
- Rating Agencies
- Real Estate Investment Co's
- Regulators
- Risk Management Firms
- Shariah Advisory Firms
- Sovereign Wealth Funds
- Stock Exchanges
- Trade Finance Companies
- Trustees
- UHNW and HNW Individuals
- Venture Capital Firms
“ The IFN Dialogues are a great opportunity to bring together key players in the industry to discuss critical topics for the development of the financial markets and the economy. ”
Assistant professor of Islamic and sustainable finance, Hamad Bin Khalifa University
“ IFN Dialogues provide a valuable platform to share experiences, ideas and also to expand our network. Also, the new format in 2019 enabled constructive discussions. Thank you very much to the REDmoney team. ”
Senior Vice-President, Capital Markets, Investment Banking at Turkiye Kalkinma ve Yatirim Bankasi
“ Thank you and your colleagues for this very successful event. The way it was structured allowed a frank and progressive dialogue on a subject that the participants are anxious to see progress in Luxembourg, after a period of somewhat long stasis. It has enabled us to not only restart the dialogue among us and reconnect, but also hear what is done abroad, and the feelings and thinking of foreign practitioners. The presence of the minister and his obvious involvement lent a sense of empowerment. Finally, I found the Malaysian contribution invaluably useful. I look forward to the next conference in Luxembourg. ”
Senior Vice-Preident, Garanti Bank
“ We have long since come to expect that IFN Forums will provide an opportunity for discussion and debate of topical industry agenda. This year the inclusion of a series of focused, country dialogues has introduced another dimension. Amongst them, the Luxembourg Dialogue gave invited Islamic financial market participants and industry observers an unprecedented opportunity to connect, in open discussion, with senior practitioner counterparts from Luxembourg’s banking, capital markets and asset management sectors, as well as its regulators and leading providers of ancillary services. ”
Managing Director, DDCap
“ Hosting extended panel discussions is an excellent idea. Topics can be discussed fully, often with panelists asking questions of each other, allowing deeper insights to emerge from the discussion. A great initiative. ”
Senior director of asset management, Al Rayan Investment
Dialogues Agenda
9.15 – 9.20
Welcome Remarks
9.20 – 9.30
Presentation: Key Recent Developments in Shariah Compliant Financial Services in Saudi Arabia
9.30 – 11.30
Driving Growth: Islamic Banking, Technology & Shariah Compliant Financial Markets in Saudi Arabia
- How have Saudi Arabian Islamic financial institutions performed in the past year, and what factors continue to influence this?
- How should we assess policy and regulatory continuity for Islamic banking, Takaful, and the Halal economy in the Kingdom?
- How is trade and the financing of trade influencing the performance of domestic Islamic financial institutions?
- What are the key regulatory challenges in integrating advanced technology into Islamic banking operations, and how are these being addressed?
- How is Saudi Arabia’s Vision 2030 driving the digital transformation of the Islamic banking sector?
- What recent progress has been made by the domestic Islamic capital markets and what is a realistic assessment of the Saudi Arabian Sukuk market?
- What market enhancements would bring more Shariah compliant corporate issuers to market and how can Riyal -denominated issuance be further developed?
- How are Islamic bank liquidity challenges being addressed, and what more be done to supply the Saudi market with high-quality liquid assets?
- What role do IPOs play in developing Saudi Arabia’s Islamic equity capital market?
- What would encourage further funding of sustainable, green and social causes in Saudi Arabia?
11.30 – 12.00
Coffee
12.00 – 14.00
Planning for the Future: Islamic Investment Products and Asset Management in Saudi Arabia
- What are latest trends, investment types, asset classes and opportunities in Saudi Arabian bilateral Shariah compliant investment?
- How do Islamic investments support Saudi Arabia’s Vision 2030 and economic diversification?
- What are the current opportunities for Shariah-compliant real estate investments in the Kingdom, and what role do REITs play in expanding access to the asset class?
- How is private capital influencing the Islamic asset management sector in Saudi Arabia and what approach should regulators take?
- To what extent has the domestic Islamic asset management industry achieved differentiation from its conventional peer?
- Can domestic infrastructure and mega projects be further funded by Shariah compliant capital through Public-Private Partnerships?
- How can we balance climate and investment risks, and where do ESG factors fit in?
- How are innovation and concepts such as Waqf being applied to investment products in the Kingdom?
- How do we assess the growing prominence of Islamic P2P and equity crowdfunding in the Kingdom, and what opportunities are on offer?
14.00
Coffee & Networking
IFN KSA Dialogues 2023 Speakers
- Abdul-Rahman Hammad, Regional Director - Middle East, IdealRatings
- Alex Menage, Managing Director of EMEA, Thought Machine
- Ben Harvey, Group Chief Product and Operations Officer, Vemi Ventures
- Dr Fadlul Imansyah, Chief of Executive Board, Badan Pengelola Keuangan Haji
- Fakrizzaki Ghazali, Vice President, Fixed Income Investment, SNB Capital
- Geoff Holmes, Group Chief Strategy Officer, Vemi Ventures
- Hakan Ozyon, CEO, Hejaz Financial Services
- Husain Alkhaja, GCC Regional Director, DDCAP
- Dr John Sandwick, Chief Investment Officer, SARH Developments Co
- Karim Wali, Partner, Khoshaim & Associates
- Maahir Jakoet, Portfolio Manager, Old Mutual Investment Group
- Mahmoud Mohamed Zoair, Shariah Board Secretary - Head of Shariah Research, Jadwa Investment
- Marcin Zawadzki, Associate, White & Case
- Mohamed Afzal, Senior Risk Associate Corporate Development, Vision Invest
- Dr Mohammed Ishaq Ali, Head of Asset Management, Yaqeen Capital
- Mohammed Srhiri, Director of Financial Markets Advisory, BlackRock
- Rami Alsaihati, Senior Director, Advisory, National Center for Privatization & PPP
Advisory Board
Dr John Sandwick
Chief Investment Officer, SARH Developments CoDr John A. Sandwick is a recognized pioneer in Islamic finance. He created the first application of the Modern Portfolio Theory in the context of global portfolio allocations with Shariah certification. He is also noted for organizing innovative domestic and international Sukuk, the world’s first global Sukuk fund, a Sukuk participation certificate and the first-ever mid-market Sukuk facility in Saudi Arabia. Dr John served as a Visiting Professor of Finance at Al Yamamah University in Riyadh, and a former instructor in the Graduate School of Finance at University Paris-Dauphine. He frequently taught Master Classes on Islamic Finance for groups including central banks, pension funds, family offices and treasuries.
Dr John’s most recent publications on Islamic finance include a popular article in the Journal of Asset Management. He has a Master’s degree in Development Banking from American University in Washington, DC and a Doctorate in Business Administration from Grenoble Ecole de Management in France. He previously worked in the private banking units of Deutsche Bank (Suisse), Credit Suisse and Encore Management (in association with UBS). He is currently a Corporate Finance and Asset Management Consultant for Saudi families and businesses.
Mahmoud Mohamed Zoair
Shariah Board Secretary - Head of Shariah Research, Jadwa InvestmentMahmoud Mohamed Zoair is an Islamic Finance Phd researcher, holding an MBA in Islamic Finance Products. He is also a Certified Shariah Adviser and Auditor (CSAA), Islamic Professional Accountant (CIPA) as recognized by AAOIFI and holds a higher Diploma in Islamic Studies and Executive Leadership Certification from Harvard University. Mahmoud brings more than 20 years of experience in the Islamic finance industry in many globally recognized Institutions, and possesses strong knowledge of financial analysis, credit, risk and jurisprudence of financial transactions, blockchain technology and Shariah rulings in general. Mahmoud was instrumental in developing a wide range of products including asset management, investment, corporate, retail, treasury, SME, Takaful as well as trade products, and has delivered specialized training courses in addition to being a Shariah committee member of a number of fintech firms. Mahmoud currently serves as Shariah Board Secretary and Head of Shariah Research at Jadwa Investment, Shariah Board member of Haqq Network, 21Shares and many other VCs. Previously, he was Senior Review and Control Manager at SAB, Senior Adviser in Shariah Compliant Product Development at Alinma Bank, KSA, Relationship Manager at Dar Al Shariah Legal and Financial (DIB subsidiary), providing Shariah services including structuring, coordination, Shariah supervisory and audit at many domestic and international financial institutions. He also served as Shariah Structuring Coordinator and Shariah Auditor and Adviser at Emirates Islamic and Emirates NBD Asset Management (ENBD Subsidiaries).
Dr Mohammed Ishaq Ali
Head of Asset Management and Advisory Services, WinVeston CapitalDr Ishaq’s career journey which spans over 25 years, stands as a testament to his dedication and continuously evolving expertise in the field of capital markets. His proficiency lies in managing asset management business, advisory services and arranging functions. He specializes in research-driven investment management of funds and discretionary mandates across diverse asset classes and regions for institutional, governmental and high net worth clients. His career is characterized by the development and nurturing of robust relationships with clients, regulators, financial institutions and other stakeholders. Dr Ishaq is currently working as Head of Asset Management & Advisory Services at WinVeston Capital, Saudi Arabia. Prior to this role, he held pivotal leadership roles at prominent institutions such as Al Rajhi Capital, ANB Capital and Yaqeen Capital, among others showcasing his extensive expertise and capabilities. Furthermore, he is an accomplished author and speaker, sharing insights on topics related to the capital markets. He also serves as an Advisory Committee Member at the University of Business & Technology in Saudi Arabia. He holds a PhD in Business Management, an MBA in Finance & International Business and a B Com from Osmania University, India. He also possesses several global investment management certifications.
Dialogues Partners
KNOWLEDGE PARTNER
INCEIF University
INCEIF was established by Bank Negara Malaysia to develop human capital and knowledge leadership in the global Islamic finance industry. In addition to its academic programmes, including PhD in Islamic Finance, MBA (Sustainable Business), MSc in Islamic Finance Practice, and PhD in Islamic Finance, INCEIF also offers tailored executive training and industry-focused applied research, aiming to be a global knowledge leader in Islamic finance.
PARTNERS
Hassan Radhi and Associates
Hassan Radhi and Associates (HRA) is a renowned law firm in Bahrain, founded in 1974 by Dr. Hassan Ali Radhi. Over the past five decades, HRA has grown into a distinguished international legal consultancy, providing comprehensive legal solutions to clients in Bahrain and beyond.
HRA has established a strong reputation for its exceptional expertise and dedicated team, which comprises seven partners and a legal staff of seventeen professionals, including trainee lawyers, paralegals, and administrative personnel. The firm’s legal professionals possess in-depth knowledge of Bahraini laws and offer consultation services in Arabic and English.
As the exclusive Lex Mundi member firm in Bahrain, HRA has access to a global network of over 23,000 lawyers spanning 125+ countries. The firm’s partners are active members of domestic and international associations, and HRA specializes in various legal areas, such as banking and finance, investment and capital markets, civil law, insurance, tech and telecom, mergers and acquisitions, intellectual property, corporate law, commercial law, labor law, real estate, contracts, aviation, maritime law, bankruptcy and insolvency, company formation, arbitration, general litigation, oil and gas, and consultations.
HRA has received numerous awards and accolades, including being recognized as a top law firm in the region by prestigious legal referral guides. The firm serves clients from diverse industries, such as banking, manufacturing, construction, and more.
Having celebrated its 50th anniversary, HRA remains unwavering in its commitment to delivering exceptional legal services, maintaining the highest professional standards, and upholding the trust and confidence of its clients both locally and internationally.
With a strong reputation, extensive expertise, and membership in prestigious organizations, HRA continues to be a trusted partner for legal solutions in Bahrain and beyond.
International Turnkey Systems
ITS offers cutting-edge technology solutions tailored for financial institutions, governmental bodies, and private sector enterprises across diverse industries. With a proven track record of technological proficiency and an extensive skill set, we provide robust support for critical business operations.
Headquartered in Kuwait, ITS operates research and development facilities in Kuwait, India, and Cairo, and maintains a strong presence throughout the Middle East, Africa, the Americas, the Caribbean, and the Commonwealth of Independent States (CIS).
At ITS Global Business Solutions Development Center (GBS) in Cairo, we deliver comprehensive Managed Services on a global scale. Our expertise spans every stage of the software development lifecycle, empowering companies to seamlessly transition from legacy systems to cutting-edge technologies.
Trowers & Hamlins
Trowers & Hamlins is an international law firm with over 150 partners and more than 900 people located across the UK, the Middle East and the Far East providing a full-service integrated offering to clients with local knowledge and expertise at its core.
Our distinguishing feature is that with 25 years of experience in the UK and the Middle East, we have a depth of knowledge of the Islamic finance industry that covers the entire spectrum from regulatory and corporate governance to capital market issuances and real estate investment. Our international team of multidisciplinary specialists will guide you on structuring your Shariah compliant activities to help you achieve a successful outcome.
With our growing office in Kuala Lumpur, our team now advises on Islamic investments, financings and products across the UK, Europe, the Middle East and Southeast Asia.
TRAVEL PARTNER
LEAD MEDIA PARTNERS
Registration
The Previous IFN KSA Dialogues
IFN KSA Dialogues 2024
With its deep Islamic roots and continuous Shariah finance focus, Saudi Arabia remains the world’s largest Islamic finance centers, housing over SAR3.1 trillion (US$825.99 billion) in Islamic finance assets and accounting for about one-third of global Shariah banking assets.
The Kingdom’s international repertoire is backed by an illustrious track record across the different segments of Islamic finance. It is the most prolific sovereign Sukuk issuer globally, responsible for 31.2% of total issuances in 2022; it has nurtured the world’s fastest-growing Shariah cooperative insurance industry, registering a year-on-year growth rate of 27% in 2022; and it has built one of the largest Islamic asset management sectors, holding 27.5% of the world’s Islamic assets under management, according to the IFSB.
The prospects are even brighter with Saudi Vision 2030 in the driving seat. The government expects investment activities to inject at least US$3 trillion into the national economy by 2030. It anticipates spending some US$2.6 trillion to fund its ambitious projects, while private consumption spending would hit US$1.3 trillion, resulting in a total injection of US$7.1 trillion in the next decade.
By 2030, investment contribution to GDP would likely increase from 22% in 2019 to 30%, catapulting Saudi Arabia to become one of the 15 largest economies in the world, further cementing its global Islamic finance hub aspirations.
It is in this vibrant backdrop, IFN is returning to Saudi Arabia with the highly successful IFN Dialogues series, exploring opportunities and challenges in one of the most influential Islamic finance markets globally, with market leaders in a conducive and highly curated Chatham House Rules setting.
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Saudi maintains Islamic VC appeal as entities prepare US$40 million injection into fintech start-ups
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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.