Universiti Brunei Darussalam (UBD) officiated the inaugural International Conference on Islamic Finance and Sustainability (ICIFS) 2025 on 4th February 2025.
The opening ceremony of the three-day conference was held at Balai Khazanah Islam Sultan Haji Hassanal Bolkiah was presided over by Pengiran Hajah Siti Nirmala Pengiran Haji Mohammad, Permanent Secretary (Wawasan) at the Prime Minister’s Office, on behalf of the Guest of Honour Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew Abdullah, Minister at the Prime Minister’s Office and Minister of Finance and Economy II.
Under the theme “The Role of Islamic Finance in Achieving Sustainable Development Goals,” ICIFS 2025 is dedicated to exploring the vital role that Islamic financial principles play in global sustainability efforts. In her keynote address, Pengiran Hajah Siti Nirmala emphasised that, “Islamic finance, with its foundation in ethical principles and equity, provides distinctive solutions to pressing global challenges such as economic disparities, climate change, and social inequalities.”
Highlighting the importance of Islamic finance, Pengiran Hajah Siti Nirmala noted its global expansion, with assets surpassing USD3 trillion, and its critical alignment with Brunei Darussalam’s Wawasan Brunei 2035. “Islamic finance is not only a cornerstone of our national financial strategy but also a key proponent of sustainable economic practices that contribute to long-term prosperity and environmental stewardship,” she added.
Professor Dr Mohammad Kabir Hassan delivered a compelling keynote speech that underscored the adaptive resilience and expansive potential of Islamic finance in the face of global economic uncertainties. “Islamic financial products, designed to promote sustainable development, are crucial for fostering economic stability, social equity, and environmental protection,” stated Professor Hassan.
The conference agenda serves as a key platform for in-depth discussions on the integration of cutting-edge technologies, such as blockchain and artificial intelligence, with Islamic financial services to enhance transparency and inclusivity. Additional sessions will explore innovative Islamic financial instruments, including sukuk for renewable energy financing and the role of Islamic microfinance in empowering economically disadvantaged communities.
The first two of the three days are held at Balai Khazanah Islam Sultan Haji Hassanal Bolkiah, featuring two panel sessions which focus on key areas shaping the future of Islamic finance. The first session, “Shaping the Future of Islamic Finance: Innovation and Sustainability in Practice,” brought together experts to discuss the practical application of innovation and sustainability in the industry. The second session, “Advancing Islamic Finance Research: Aligning Theory with Practice for Sustainability,” explores the critical link between academic research and real-world industry applications.
The final day will be held at UBD and sessions include a workshop on “Preparing Research Proposals and Grant Applications for PhD Students and Early Career Researchers” as well as a panel discussion titled “Insights from Journal and Book Editors”.
Another key highlight of the conference was the exchange of several Memoranda of Understanding (MOUs) with key stakeholders, symbolising a shared commitment to advancing sustainability and innovation in Islamic finance. These agreements serve as a catalyst for significant collaborative efforts between UBD, UBDSBE, and its partners. Formal partnerships were established with the Brunei Darussalam Central Bank (BDCB), UN Global Compact Malaysia and Brunei, and Ozean.
ICIFS 2025 is a pivotal forum for distinguished academics, industry professionals, and policymakers, facilitating a collaborative environment to forge innovative solutions and forward-thinking strategies for a sustainable financial future.
For further information, please contact: icifs.brunei@ubd.edu.bn