THE 12th ASEAN International Conference on Islamic Finance 2024 (AICIF2024) with the theme Islamic Finance for Sustainable Peace and Development: Challenges and Opportunities is currently convened at Limketkai Luxe Hotel, Cagayan de Oro City, Philippines on November 18 to 19, bringing together thought policymakers, industry leaders, scholars, practitioners, experts, academics, and students from around the world.
This event is a platform for knowledge exchange, networking, and opportunity to build partnerships and collaborations that can lead to substantial contributions to Islamic finance, sustainable development, and lasting peace.
The conference aims to explore the pivotal role of Islamic finance and banking in fostering sustainable development and lasting peace. With a focus on principles of equity, fairness, and ethical investment, Islamic finance offers innovative solutions to address contemporary economic challenges while promoting social welfare and stability.
Over the next three days, the pivotal role of Islamic finance in fostering sustainable development and lasting peace will be delved with a special focus on the unique challenges and opportunities in underdeveloped areas, lagging regions and conflict-affected communities.
It is aimed to explore how Islamic financial principles can be harnessed to address key issues such as economic inclusion, social equity, and sustainable growth.
Throughout the conference, key themes that underpin the role of Islamic finance in promoting sustainable development and peace will be examined.
Islamic finance principles to drive sustainable development initiatives, including green financing, microfinance, and socially responsible investment, to address pressing environmental and socio-economic issues will be explored.
Recognising the importance of inclusive growth, the organizers Mindanao State University will assess strategies to enhance access to financial services for marginalised communities through innovative Islamic banking solutions, thus fostering greater economic empowerment and social cohesion.
“In a world grappling with conflict and instability, we will evaluate the contribution of Islamic finance in promoting economic stability, reducing inequality, and fostering peaceful coexistence, thereby addressing root causes of conflict, and supporting sustainable peacebuilding efforts,” the organizers said in a statement.
Amidst rapid technological advancements and evolving regulatory landscapes, opportunities and challenges facing Islamic finance and banking, including the integration of fintech, digitalisation and regulatory frameworks to ensure sustainable and resilient financial systems will likewise be discussed.
Throughout the conference, new findings and studies, innovative strategies, and novel ideas on Islamic finance will be presented and shared with others to enhance knowledge adoption, dissemination and application especially in pivoting Islamic finance to bring sustainable development and lasting peace.
