How Ethical is Islamic Finance? UKIFC and ISRA Thematic Workshop, in association with K&L GatesAll Events
February 21, 2018 @ 9:30 am - 4:15 pm
Following the success of the October 2016 event on Shari’a Governance, the Islamic Finance Council UK (UKIFC) and the International Shari’ah Research Academy for Islamic Finance (ISRA) in association with K&L Gates are delighted to provide details of the 2018 Thematic Workshop which will focus on the topic of the relationship between Islamic finance and ethical finance.
The trend of positioning Islamic finance within the broader umbrella of ethical finance has gained momentum in recent years. Following Shari’a principles, it is argued Islamic finance is seen to be intrinsically interwoven with ethical finance values and strategies.
However, this view is not shared across the whole of the financial services industry. Critics of Islamic finance would challenge the notion of Islamic finance being ethical by questioning the creation of synthetic products to overcome textual restrictions with the result that the economic outcome and risk sharing profile is identical or very similar to that of conventional banks.
This conference will review and reflect on a number of key areas to explore the question of “How Ethical is Islamic Finance?”
- Lord Sheikh, Co-Chair, All-Party Parliamentary Group on Islamic Finance
- Dr Akram Laldin, Executive Director, ISRA
- Stella Cox, Managing Director, DDCAP
- Omar Shaikh, Advisory Board Member, UK Islamic Finance Council
- Jonathan Lawrence, Islamic Finance Partner, K&L Gates
- En. Kamarul Ariffin Bin Mohd Jamil, Group CEO, Affin Bank Malaysia
- Martina Macpherson, Partner, Sustineri
- Dr. Said Bouheraoua, Director of Research, ISRA
- Dr. Ashraf bin Md. Hashim, Senior Researcher / CEO, ISRA Consultancy
The event will cover several key themes including:
- The Shari’a Scholar Debate – Is Islamic finance following the spirit of the law or just the letter?
- Is Islamic Finance an ethical alternative – what social impact has it made in the past 20 years?
- With $40trn in SRI funds under management, is the Islamic Finance sector branded optimally?
- By focusing on the banking model, has Islamic Finance restricted its ability to provide more ethical and socially responsible solutions?
- Malaysia and UK innovation case studies – value-based intermediation and interfaith shared values framework
To view detailed agenda of the themes for the day click here.
Click here to view highlights from our 2016 event “Is the Current Model of Shari’ah Governance Fit for Purpose?”