Infrastructure development is at the heart of economic growth and nation-building. Unfortunately, there remains a huge funding and investment gap, exacerbated by the limited sources of traditional funding, particularly from the public sector. The World Bank estimates that some US$1.3 trillion is needed every year to meet infrastructure demand in emerging markets alone.

Valued for its quality in-depth discussions, the high-level Dialogue will gather the region’s leading minds in Islamic and sustainable finance to engage in an intellectual exercise toward finding pragmatic solutions to advance the Islamic sustainable agenda in the region.

The next generation of financial innovation is being effectively deployed by market practitioners, and initiatives such as equity crowdfunding (ECF), peer-to-peer financing (P2P) and digital investment management are already embedded in today’s financial landscape.

Bank Negara Malaysia (BNM) is focusing on pilot solutions to support innovation in climate-friendly finance as it aims for larger financial flows toward climate-supporting and transitioning activities.

For financial institutions, measuring and managing market and credit risk is a relatively straightforward process done through established tools, models and methodologies. However, accurately identifying and measuring the complex risks directly associated with climate change (and other important events) is a significantly more challenging task.

SME Bank is targeting to offer RM1.8 billion (US$422.47 million) in ESG financing in 2023. The bank is also hopeful that the 2023 Malaysian budget, which is set to be retabled later this month, will include allocations for social enterprise development, Aria Putera Ismail, CEO and president of SME Bank Group, told ISFI.

Entrex Carbon Market (Entrex), a Florida-based blockchain-enabled carbon offsets and futures trading platform, is considering pursuing a Shariah compliant Fatwa for its offerings pursuant to the investor mandate, Stephen H Watkins, CEO of Entrex, told ISFI.

AmInvest is targeting to convert some of its existing funds to SRI-qualified funds by the end of the first quarter of 2024, Goh Wee Peng, CEO of AmFunds Management (AmFunds), told ISFI.

On the afternoon of October 27, CODA organized a project-match meeting with Tropicana Corporation Berhad of Malaysia, CHINA MACHINERY ENGINEERING CORPORATION（CMEC）, discussed project cooperation together in Malaysia, related with investment and financing, EPC project, photovoltaic system and industrial park investment and trade business.

Ensuring Shariah rules and principles are adhered to is one of the ultimate responsibilities of Islamic financial institutions (IFIs). IFIs carry out this responsibility through establishing Shariah review and audit functions within their institutions. The role of the Shariah compliance audit provides independent assessment and objective assurance designed to value-add and improve the level of confidence of the IFI’s compliance with Shariah.