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Islamic Finance leaders convene at Second Islamic Economy meeting to discuss sustainable innovation and Maqasid Al-Shariah in Finance

Jeddah, Saudi Arabia, Manama, Kingdom of Bahrain | The General Council for Islamic Banks and Financial Institutions, the global umbrella of Islamic financial institutions, has successfully organised a high-level Islamic Economy Strategic Meeting on Sustainable Innovation in Islamic Finance: Achieving Maqasid Al-Shariah in Product Development. The meeting was held in Jeddah, Kingdom of Saudi Arabia and Online. The meeting brought together leaders from Islamic banks, financial institutions, Shariah boards, and international organisations to explore ways to embed innovation and sustainability into Shariah-compliant financial products. Attendees highlighted the need for actionable strategies to create solutions that address societal challenges while aligning with social, economic, and environmental goals. This approach reinforces the role of Islamic financial institutions in driving the Islamic economy forward, achieving Maqasid Al-Shariah, and enhancing their growth and resilience in a rapidly evolving economic and technological landscape.