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Keynote address - Global Islamic Finance Forum 2022

Keynote address - Global Islamic Finance Forum 2022

Against a backdrop of these global challenges, the Islamic financial sector has continued to advance. Value-based intermediation has become more entrenched in the corporate value intent and business strategies of Islamic financial institutions. According to AIBIM"s VBI report which will be launched later today, RM146.6 billion in financing, investments and deposits were intermediated by Islamic banks in VBI-related or VBI-aligned initiatives between 2020 and 2021. Tools such as the VBIAF Sectoral Guides, implementation roadmaps and reporting frameworks are now widely used by the industry to drive positive value and impact on the economy, society and environment. The intermediation of capital is also more diverse, with innovative instruments mobilising "beyond deposits", adding risk-absorbent capital and social capital into the mix. […]