The 4th Annual Islamic Finance Conference (AIFC) is being held in Surabaya, Indonesia on the 24th-25th July 2019. This year’s theme is Blending Islamic Finance and Impact Investing for the SDGs. IsDB along with the Ministry of Finance of the Republic of Indonesia co-organizes the AIFC annually.
Dr. Walid Abdelwahab, DG CRS, delivered the keynote speech on behalf of the IsDB President and highlighted that there is a huge potential for Indonesia to scale up in impact investing. He further elaborated that through Islamic Finance and Impact Investing, investors associate themselves with a moral purpose, namely, they both share the motto “doing good and avoiding harm.”
Impact investing is currently receiving growing interest from public, private and multilateral organizations who aim to create impact instead of profits. The main goal of impact investing is to end poverty and in Indonesia, there are approximately USD 23 Billion worth of impact investment opportunities for 2019-2023. The joint force of Islamic Finance and Impact Investing provides access to finance for people who are directly or indirectly kept out of the formal financial sectors.
The IsDB as a co-organizer is contributing by providing expert speakers in Shariah Compliant Impact Investments from IRTI, Blockchain Technology & Impact Investing for SDGs from IFSD and a moderator for the session on Role of Government to Support Islamic Finance for Impact Investing from the IsDB RHI.