Experts called upon bankers for adopting emerging technologies in Islamic banking services to face off upcoming fourth industrial revolution (4IR).
Speakers expressed their views while addressing World Islamic Economic Forum (WIEF) - and South East Asian Cooperation (SEACO) Foundation Dhaka Roundtable 2019.
South East Asian Co-operation (Seaco) Foundation and World Islamic Economic Forum (WIEF) Foundation jointly organised the roundtable discussion at a hotel in the capital yesterday, a press statement said.
Prime Minister’s Private Industries and Investment Adviser Salman F Rahman attended the programme as chief guest while SEACO Foundation Executive Chairman Salahuddin Kasem Khan chaired over the opening ceremony.
Addressing the function, Salman F Rahman said, Islamic economy continues to enjoy steady growth in base of 1.8 billion Muslims globally and the non-speculative nature of Shariah-compliant finance can help ensure financial stability.
WIEF Foundation Chairman Tun Musa Hitam said Islamic finance is estimated to grow to $3.8 trillion by 2023 from $2.4 trillion in 2017.
The growing demand for Shariah-compliant finance coupled with various initiatives undertaken by a number of governments and regulatory bodies across Asia have fuelled the growth of the industry, he added.
SEACO Foundation Executive Chairman Salahuddin Kasem Khan said the forum will find out the way to raise the socio-economy of a community is through trade, investment, tourism, and overall cooperation, where national economies become more connected regionally.
The conference addressed the challenges and prospects of Islamic finance and sukuk, insights into the future direction of the halal industry, and opportunities for infrastructure development.