3rd International Conference on Islamic Leasing (Ijarah) Explores Innovation and Growth
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### 3rd International Conference on Islamic Leasing (Ijarah) Set to Convene in Dubai
**Dubai, UAE - The 3rd International Conference on Islamic Leasing (Ijarah)** will be held from September 7th to 10th, 2024. Organized by AlHuda CIBE in partnership with the Uzbekistan Leasing Association and Uzbekleasing International AO, this prestigious event is poised to be a significant gathering for industry leaders, experts, and stakeholders globally. The conference will delve into the critical role of Ijarah, a cornerstone of Islamic finance, in driving growth, fostering economic sustainability, and expanding financial inclusion strategies.
### Central Theme: Innovation and Growth
The conference will center around the themes of innovation and growth, featuring in-depth discussions and presentations on developing new Shariah-compliant leasing products. Experts will highlight effective strategies rooted in Islamic principles to unlock the full potential of Ijarah. A key focus will be on how Ijarah can contribute to the global expansion of the Islamic finance industry, with an ambitious target of reaching a $4 trillion market size by the end of 2025.
### Global Exchange of Knowledge
The event will transcend geographical boundaries, facilitating a global exchange of knowledge and best practices. Delegates from over 15 countries are expected to participate, bringing diverse perspectives and experiences to the table. Prominent industry leaders will share insights on Ijarah’s role in promoting financial inclusion for both Muslim and non-Muslim populations, underscoring the conference’s commitment to a more equitable and accessible financial landscape.
### Comprehensive Conference Program
The program will cover a wide range of topics relevant to the future of Islamic finance. Sessions will focus on innovative product development in Islamic leasing, exploring new Shariah-compliant leasing structures that meet evolving market needs. Investment opportunities within the Islamic leasing space will be analyzed, providing participants with insights into potential areas of growth and diversification. Additionally, the application of Shariah principles in fostering broader economic development will be discussed, highlighting the contribution of Islamic finance to sustainable and responsible economic growth.
### Ijarah’s Significance in Islamic Finance
Mr. Mughal emphasized Ijarah's significant share within the Islamic finance landscape, accounting for roughly 25% of the industry. This is followed by Murabahah (46%), Diminishing Musharakah (12%), Salam and Istisna (5%), and Mudarabah and Musharakah (2%). He highlighted Ijarah's ease of introduction in jurisdictions with limited legal frameworks for Islamic finance, suggesting that Ijarah products can be effectively offered in European and American markets without significant regulatory changes.
### Growth Potential and Economic Impact
The conference aims to explore the growth potential of Ijarah by bringing together stakeholders to discuss innovative product development and attract investment opportunities. Additionally, the application of Shariah principles in fostering broader economic development will be examined. This holistic approach positions Ijarah as a key driver for financial inclusion and sustainable economic progress.
### Commitment to Economic Prosperity
Mr. Mughal acknowledged the banking and finance sector’s critical role in driving economic prosperity, noting the impressive double-digit growth of Islamic banking and finance globally in recent years. The conference seeks to build on this momentum by addressing potential challenges and strengthening support for the rapidly growing Islamic finance industry. The inclusion of topics such as financial inclusion and Shariah principles underscores the conference’s commitment to promoting a more inclusive and ethically sound financial system.
### Additional Events
The conference will be followed by the One Day 6th Global Takaful and Re-takaful Forum and a one-day city tour on September 9th - 10th, 2024.
For more information, please visit: [AlHuda CIBE ICIL 2024](https://www.alhudacibe.com/icil2024/)
### About AlHuda CIBE
For over eighteen years, AlHuda Center of Islamic Banking and Economics (CIBE) has established itself as a cornerstone of the Islamic banking and finance industry. Offering a comprehensive suite of services, CIBE empowers and cultivates excellence within the sector through advisory and consultancy services, Shariah advisory, training workshops, and development of innovative Islamic financial products. Serving clients in over 100 countries, CIBE’s global reach reflects its commitment to accelerating the development of a robust and accessible Islamic banking and finance industry.
For further details about AlHuda CIBE and its extensive services, please visit: [AlHuda CIBE](https://www.alhudacibe.com)
