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ITFC’s workshop focuses on islamic finance products

  • Staff Correspondent
  • 12 December, 2021 12:00 AM
  • Print news
ITFC’s workshop focuses on islamic finance products

A two-day workshop organised by International Islamic Trade Finance Corporation (ITFC) has focused various islamic finance products and services, structuring, product comparison, and development of skillset to analyse shariah-based alternative solutions.

The aim of the workshop is to support the country’s effort for enhancing the knowledge and understanding of its financial institutions on Islamic Finance products and services.

The sessions brought together diverse perspectives to Islamic financing in Bangladesh and across the World.

The workshop was led by a expert addressed the gathering on the latest trends in the Islamic financing industry, exploring a wide range of topics including structuring, product comparison, and development of skillset to analyse shariah-based alternative solutions.

The workshop was an opportunity for the participating institutions to explore the viability and the impact of Islamic finance on the global banking system and the role of Islamic banks in the post-covid recovery of the economies of the countries.

In addition, the gathering also highlighted the potential growth of Islamic Finance within the financial sector in Bangladesh, especially with the recent policy incentive adopted by the Bangladesh government to develop Islamic finance.

Commenting on the importance of the workshop, Engineer Hani Salem Sonbol, CEO of ITFC, said that today’s event is another proof of the ITFC’s’ testament to support Bangladesh development plans in different sectors, including the Financial Institutions to utilise the significant potential demand of Islamic finance products in Bangladesh.

“Despite multiple challenges during the COVID-19 pandemic, ITFC retains the pledge to implement its trade development initiatives for the benefit of its member countries, including the Advanced Islamic Finance Workshop for the Financial Institutions in Bangladesh,” Sonbol added.

ITFC realised the potential growth of Islamic Finance within the financial sector in Bangladesh, especially with the recent policy incentive by the Bangladesh government to develop Islamic finance, the ITFC CEO stated.

“We have also witnessed the efforts of Bangladeshi authorities who have approved several conventional banks to convert into Islamic banks in the last few years, stimulating the sector’s expansion,” Sonbol added.