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Saudi Central Bank Participates in the Islamic Finance Conference 2021
11/4/2021 8:00 PM

On October 29, 2021, the Saudi Central Bank (SAMA), represented by His Excellency Dr. Fahad Aldossari, deputy governor for Research and International Affairs, participated in the Islamic Finance Conference 2021 titled "Islamic Finance in the Post-Covid World" during the 8th Indonesia Sharia Economic Festival.


In a speech at the opening session, Aldossari pointed out to the most prominent efforts of the Saudi Central Bank to mitigate the economic impact of the pandemic on the financial sector in the Kingdom. He also clarified that the Islamic banking sector in the Kingdom of Saudi Arabia ranks first in the world in terms of size, with assets amounting to 2.23 trillion Saudi riyals (594 billion US dollars).


It should be noted that the Saudi Central Bank is hosting the 15th IFSB Summit during the period 9 to 11 November 2021 in Jeddah, Kingdom of Saudi Arabia under the theme "Islamic Finance and Digital Transformation: Balancing Innovation and Resilience". The Summit will focus on ways to foster innovation, technology adoption, accessibility and sustainability in the Islamic financial system to boost its growth and development, as well as the policy implications arising from rapid digital transformation.


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