AAOIFI concluded first global Islamic Finance Virtual Forum on COVID-19

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) organized its first Islamic Finance Virtual Forum on "Covid-19 Economic Implications, Islamic Finance and the Way Forward". It was organized in collaboration with Islamic Research and Training Institute (IRTI), College of Banking and Financial Studies (CBFS) and Minhaj Univeristy. The forum's three sessions were attended by more than 1,200 people while thousands more joined by live streaming on multiple online channels. Shaikh Mufti Taqi Usmani, Chairman of the AAOIFI Shari’ah Board delivered his keynote speech which highlighted the importance of riba-free system. Distinguished session panelists emphasized that the power of ideas has a greater impact compared to the power of size. It was suggested that a long term socially-driven Waqf sukuk would be a good idea for a sukuk issuance and called for a collective effort to work out a revenue generation aspect of it.