His Excellency the Deputy Governor of the Saudi Arabian Monetary Authority, "SAMA" for Research and International Affairs, Dr. Fahd bin Abdullah Al-Dossari, inaugurated, on Thursday, Shawwal 19, 1441 AH, the third edition of SAMA Islamic Finance Workshop, which is held virtually under the title "The Role of Institutions Supporting the Islamic Financial Industry."

                The workshop witnessed the participation of more than 100 participants from experts and interested in the Islamic financial sector, in addition to the relevant institutions: the Islamic Financial Services Board and the Arab Monetary Fund. They discussed the role of institutions that support and catalyze the growth of the Islamic financial sector in light of the unprecedented risks, and the opportunities and challenges that pose for the regulatory and legislative bodies and Islamic financial institutions. The Islamic financial industry is of great importance, especially in the Middle East and Southeast Asia regions. The Islamic banking industry in the Kingdom also represents more than 23% of the total global Islamic banking industry.

                The workshop started with a word by His Excellency Dr. Fahad Al-Dossary; On five main axes that were discussed in five sessions. In the 1^st session, they discussed "The role of the Saudi Arabian Monetary Authority in supporting the quantitative and qualitative development of the Islamic finance industry. It was presented by Mr. Ahmed Asiri, Director of the Islamic Finance Division at SAMA, and touched on the size of the growth and development of the Islamic finance industry in the Kingdom, in addition to the incentive policies and supportive initiatives adopted by the institution. In the same context; They touched upon the Sharia governance framework recently issued by SAMA, which will contribute to enhancing confidence in the Islamic banking sector.  In the second session, they covered "research study of the expected impact of Covid-19 on Islamic banks" prepared by a group of researchers, presented by Dr. Walid Mansour, Advisor in the Islamic Finance Division, in which he assessed the impact of Covid-19 on Islamic banks through profit growth indicators and troubled loans and stability, for nine countries from the Middle East and Southeast Asia. The third session discussed the theme related to technology applications in Islamic finance, presented by Dr. Abdul Karim Kunduz, Senior Economist at the Arab Monetary Fund (UAE). While the fourth session dealt with; The most prominent global developments in Islamic financial markets and the role of standards drafting organizations, with a focus on the case of the Islamic Financial Services Board, presented by Mr. Walid bin Ahmed Al Zahrani, Assistant Secretary General of the Islamic Financial Services Board (Malaysia).

                At the conclusion of the workshop; The role of the Islamic Banking Committee, which is made up of all banks operating in the Kingdom of Saudi Arabia, and the most prominent achievements presented by the committee were highlighted during the fifth session presented by the Presidency of the Islamic Banking Committee in its current session. It is worth mentioning that the committee was established in 1425 AH under the supervision of the Monetary Agency, and it holds its meetings periodically.