Lecture: Sharia Compliance Financial Instruments and Solutions

Introduction

• Thanks to the audience and speakers for their presence.
• Webinar series to understand the potential of Sharia compliance financial instruments.
• Finopolic Institute: First private Islamic institute for collaborative and explorative research in Islamic finance.
• Aim to engage the global community for sustainable development goals (SDGs).

Speakers

• Dr. Hamid Habib Ahmed: Professor and Treasurer in Islamic Law and Finance at a Business School.
  • Published over 100 publications on Islamic finance.
  • Consultant for various international organizations.
• Dr. Atef Shabrawi: PhD in Risk Modeling, expert in Islamic finance, sustainable development.
  • Author of books on Islamic finance and entrepreneurship.
• Sheikha Khadar Amur Idrisi: Islamic finance leader and Sharia advisor.
  • Over a decade of experience in consultancy for banking, microfinance, fintech, etc.
• Dr. Muhammad: Acting Director of Islamic Financial Sector Development at Islamic Development Bank.
• Mr. Hamid Rasheed: Founder of Finterra, blockchain platform for Islamic social finance.
  • 18 years of technology consulting experience.

Challenges and Opportunities in OIC Countries

• Priority SDGs: No poverty, zero hunger, good health, quality education, decent work, innovation, and infrastructure.
• Current economic situation: High electricity rate, lack of good healthcare, high unemployment, spread of poverty, low food production.

Presentations

Dr. Habib Ahmed

• Title: Wakfun SDGs - An Introduction
• Overview of SDGs: Launched in 2015, ambitious requiring significant investment.
• Funding gap: $2.5 trillion per year, requiring contributions from public, private, and nonprofit sectors.
• Investment categories: Infrastructure, social goods/services, environmental impact.
• Work (Islamic Endowments): Historical context, challenges in productivity and governance.
• Future of work: Innovation, technology, governance improvements.

Dr. Atef Shabrawi

• Title: Reflection on Social Enterprise and Work
• Social enterprise: Historical evolution, impact-focused business.
• Importance of a purpose-driven business model.
• Financial sustainability vs. traditional business model.
• Linking social enterprise to work: Similarities in purpose and mission.

Dr. Sheikha Khadar Amur Idrisi

• Topic: Makassar and Sharia
• Work designed to be sustainable and impactful.
• Importance of qualitative work over quantitative.
• Creativity and innovation in work.

Dr. Muhammad Ali Shati

• Topic: IDB Experience with Awaqf Properties
• Awaqf Property Investment Fund: Established in 2001.
• Financing for idle work development.
• Projects in member and non-member countries.
• Success stories and SDG impact.

Mr. Hamid Rasheed

• Topic: Finterra Experience with Blockchain
• Blockchain platform for work democratization.
• Blockchain's potential in transparency, automation, and fund management.
• Specific projects like auto rickshaws and corporate work.

Questions and Discussions

• Questions addressed included the link between SDGs and Islamic finance, use of sukuk, efficiency of work, and blockchain in social finance.

Conclusion

• Importance of innovation and collaborative efforts in Islamic finance to achieve SDGs.
• Appreciation for speakers and audience participation.