On December 28, 2021 AD, the Saudi Central Bank (SAMA) organized a workshop in Jeddah in cooperation with the Islamic Economics Institute, under the title "The Development of the Islamic Financial Sector: Possibilities and Future Opportunities".
This workshop comes as part of a series of similar workshops purely dedicated to Islamic Finance organized under SAMA's sponsorship to discuss subjects and topics related to the industry.
At the beginning of the workshop, which was opened by Dr. Mohammed Nassief, dean of the Islamic Economics Institute, Dr. Fahad Aldossari, deputy governor for Research and International Affairs at the Central Saudi Bank offered a statement welcoming attendees and referring to the quantitative development of the Islamic Financial industry, stating the following: "The Islamic Financial industry has witnessed a quantitative growth in the size of its assets and its spread on an international level, reaching a total asset size of 10.1 trillion Riyals (2.7 trillion Dollars) in 2020 according the report of the IFSB."
Dr. Aldossari then explained that the assets of the Islamic Financial sector of the Kingdom occupied a position of high prominence across the industry's various sectors around the world, noting that Saudi Arabia's Islamic Banking sector accounted for 28% of the sector's international assets in 2020 AD. Aldossari pointed out the fact that every industry has its own vision, objectives and pillars, but the right opportunities must be present to enable it to achieve its desired results. The Deputy Governor then proceeded to explain: "the Islamic Financial industry is characterized by inclusion, innovation, sustainability and agility, which is why we are all motivated to seek the right opportunities that could effectively grant it a solid footing on a global scale, especially with the constant renewal of its products and services."
The workshop was divided into four sessions discussing the development of the Islamic Financial sector and its greatest opportunities and future prospects.
