IslamicFinance.de

The 12th International Conference on Islamic Economics and Finance (ICIEF) was held in Istanbul this month. It was organized by Istanbul Sabahattin Zaim University, Islamic Research and Education Institute (IRTI) and the Islamic Development Bank (IDB). Because of the pandemic the conference committee decided to organize it virtually. 14 eminent personalities and Islamic finance experts shared their thoughts on the future of Islamic economics and finance. Altogether, 132 papers out of some 472 submissions from 40 different countries were selected for presentation. Some papers focused on implementing a circular economic model that facilitates environment-friendly production and consumption. The circular economy concept is very much aligned with the concept of sustainable development and may support achieving the United Nations' SDGs by 2030. Presenters repeatedly underscored that the Islamic financial system can be a major driver in the transformation toward a circular economy.