ADFIMI Workshop on “Understanding FinTech in Islamic Finance” in The Marmara Taksim Hotel, Istanbul, Turkey on 20-21 February 2018
Background:
It was a 2-day workshop on FinTech for Islamic Finance with the objective of providing a comprehensive overview and practical approach to understanding and educating financial professionals and practitioners on Islamic FinTech. This covered key areas of interest such as capital market, banking, takaful, crowdfunding, blockchain, and cryptocurrencies within Islamic Finance. It was considered a critical time for banks to embrace technology disruption by understanding its impact.
FinTech is the merger of financial services with the technology and has become a major buzzword in the economy globally, particularly in Islamic Finance. There are currently Islamic FinTech landscape consists of 120 players in areas such as crowdfunding to Exchange Traded Fund (ETF) to cryptocurrencies.
Workshop provided executives the most advanced, up-to-date information on opportunities, challenges and latest trends while engaging face-to-face with industry experts in a hands-on, practical environment curated for optimal learning.
Topics Discussed:
- Current impact, growth and development of Fintech in general
- Value that Fintech can add to the Islamic Financial Services Industry
- Overview of the Islamic fintech landscape with examples for real companies
- Highlight the bigger picture of the potential of Islamic fintech
- Overview of Fintech, Fintech Ecosystems
- Islamic Fintech Opportunity in Africa
- A Look at Turkey FinTech Landscape and Ecosystem
- Digital / Mobile Payments in Turkey
- Blockchain applications other than cryptocurrencies
- Cryptocurrencies, Bitcoin, Etherium, Ripple
- Payment Systems, Digital Commerce, Mobile Payments
- Alternative Financing P2P and Crowdfunding
- Governance and Fintech
- Financial Inclusion, Microfinance, Micro-Takaful and Fintech
- Artificial Intelligence
- Regtech for compliance
Participants:
ADFIMI announced the seminar to its member as well as non-member institutions and one week prior to the seminar 30 applications were accepted.
The total number of participants who showed up was 25, from which 20 were from ADFIMI Member institutions (three from Ziraat Participation Bank, two from SME Bank Malaysia, two from TEKUN Nasional Malaysia, five from Vakifbank Turkey, three from Industrial Development Bank of Turkey, three from Halkbank Turkey, one from Omdurman National Bank Sudan and one from Islamic Development Bank).
The participants were from 6 countries (Turkey, Saudi Arabia, Sudan, Malaysia, Libya, and Palestine).
Proceedings:
The workshop began as scheduled. In his welcoming address, Mr. Metin Özdemir, the Chairman, emphasized the importance of Fintech and how the need of an important workshop like this arose. He assured that the participants will get acquainted with a comprehensive overview and practical approach to understanding Fintech.
He expressed his gratitude to all the speakers and participants.
Mr. Abdelmohaimen Mansi, CEO of Elamnagos who welcomed all the participants and thanked ADFIMI for organising the workshop. He also then introduced the speakers.
The first speaker was Mr. Ahmed Sabree, Ethis Ventures. He gave a brief overview on “Islamic Finance and Fintech Innovation”. A group photo was taken at this instance with all the participants before the coffee break.
Thereafter the workshop proceeded as scheduled except for Mr. Bülent Tekmen’s sessions which were presented by some of his colleagues in his absence. The workshop ended on 21 February 2018 at 17.00 hrs with seminar evaluation and a certificate ceremony.
SG Nuri Birtek presented Mr. Abdelmohaimen Mansi and all five speakers with a token of appreciation.
Overall the workshop was considered a success evidenced by the attendance and interactive discussion by the participants.
Evaluation:
At the end of the workshop, participants filled in an evaluation form. The evaluation report indicated overall satisfaction of the participants scored 77.1 %.
Click here for flyer.
Click here for Actual Schedule.
