Islamic Finance as Driver of Sustainable Development at Tipasa Conference
By Dr. Hana Saada
Islamic finance and its long-term contribution to sustainable development were the focus of debate at the 8th international conference held on Monday at the University of Tipasa under the theme “Towards sustainable Islamic finance in Algeria: a vision aligned with the objectives of Sharia and global impact.”
Redouane Lamar, president of the conference, described Islamic finance as a credible alternative and an integrated model combining ethical and developmental dimensions capable of contributing effectively to sustainable development goals. The event was conceived as a forum to examine ways to activate the role of Algeria’s Islamic finance industry and strengthen its contribution to inclusive and durable growth.
Mabrouk Zad El Khir, president of the High Islamic Council, said Islamic finance has become a tangible reality within Algerian banking. He noted that it now responds to concrete needs by offering practical financial solutions, while introducing widely used instruments such as murabaha, mudaraba, musharaka, istisna, salam, hawala, kafala and tawarruq.
According to Mr Zad El Khir, Islamic finance provides citizens with a framework aligned with religious principles, while helping to limit fraudulent practices and reduce sources of dispute. Mr Lamar added that the conference aims to produce recommendations capable of addressing key sustainability challenges.
The discussions are structured around five main themes: the conceptual frameworks of sustainability and the objectives of Islamic law; the role of Islamic finance in achieving sustainability; governance and sustainability within Islamic financial institutions; the integration of Islamic finance with environmental and social sustainability; and innovation and financial technology in support of sustainable development.
Organisers said the two-day proceedings are anchored in a broader vision linking social justice, equitable wealth distribution and the provision of financial tools that preserve individual dignity and strengthen autonomy, in line with national policy orientations.
The conference is organised in partnership with the High Islamic Council and in collaboration with the Bank of Algeria, the Algerian Economic Club, the International Salihin Academy for Islamic Finance and the International Sharia Research Academy for Islamic Finance (ISRA) of Malaysia.
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