Event to discuss Islamic finance in post-Covid recovery

Birmingham City Business School is hosting an exciting event with a panel of leading industry professionals to discuss the role of Islamic finance in the UK’s financial recovery from the Covid-19 pandemic. 

Posted 26 November 2021

Islamic Finance will be an essential part of post-Covid recovery in the UK, according to this event.

Understanding the importance of Islamic finance

The event will take place on Wednesday 1 December at The Curzon Building from 6.30 – 9pm, as part of the University’s Islamic Finance provision.

The event will see an array of key speakers from the world of Islamic finance offer their expertise, including:

  • Akmal Hanuk, Founder and CEO of Assadaqaat Community Finance
  • Ali Kazmi, Founder of Ethical Equity
  • Dr Mohamed R Kroessin, Head of Islamic Microfinance at Islamic Relief Worldwide  
  • Nasir Rafiq, Founder of Dua Governance

According to Shaista Mukadam, Course Leader for BSc (Hons) Accounting and Islamic Finance, the event offers an opportunity for attendees to understand how Islamic finance works and why it is such an important aspect of finance.

“We will explain the benefits of Islamic finance and why it’s so important for Muslims living in the UK,” she explains.

“Islamic finance offers an equitable, fair and just economic system to address the many challenges facing our societies today.

“With many Muslim-owned businesses being hit hard during the pandemic, there is a big demand for Sharia-compliant finance options while they get back on their feet.”

Playing a crucial role in post-Covid recovery

Islamic finance has been cited as an important factor in post-Covid recovery for the UK.

For example, the Bank of England have recently cited it as having “an important role to play in supporting the recovery from Covid.”

As well as providing the opportunity to network and field questions to the professionals, Shaista hopes the event will shed light on Islamic finance’s relevance and importance.

“The routes of Islamic finance can be traced back to the second century,” she explains. “Due to Sharia Law prohibiting interest in financial transactions, it has not been widely accepted by mainstream financial institutions.

“However, over the last two decades, options in this area have become more accessible with banks such as HSBC.”

A timely, ethical way of doing business

The event also offers attendees the chance to find out more about the course, which launched in October 2020 as the UK’s first Islamic finance undergraduate degree.

“The course covers both conventional and Islamic finance, offering the best of both worlds,” Shaista explains.

“It exposes students to a set of skills and knowledge which is on the cusp of a very important time in history, where millennials and the wider industry would like to a move to a more ethical and responsible way of doing business.”

The course has been championed by a number of financial organisations, including Assadaqaat Community Finance, who praised the course for being “very timely for understanding the value proposition of Islamic finance.”

Interested in attending? Register now via Eventbrite