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Islamic Finance Takes Center Stage as a Driver of Sustainable Economic Growth at Global Forum

News Provided by ACN Newswire2026-10-16

BANGKOK, Oct 16, 2026 - (ACN Newswire) - PT Bank Syariah Nasional (Bank BSN) reaffirmed its commitment to strengthening the role of Islamic finance in promoting sustainable development and global economic resilience. This commitment was highlighted by Bank BSN Deputy President Director Arga M. Nugraha during an international forum held on the sidelines of the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Bangkok, Thailand, on Wednesday (October 14).

Bank BSN Deputy President Director Arga M. Nugraha at the the forum themed "Islamic Finance: From Crisis Resilience to Transition Finance in 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group in Bangkok, Thailand, on Wednesday.

The forum, themed "Islamic Finance: From Crisis Resilience to Transition Finance," was jointly organized by the Islamic Bank of Thailand (ibank) and the International Islamic Economics and Finance Conference for Sustainable Development (IFESDC). The event brought together approximately 150 participants from across ASEAN, Africa, and the Middle East.

During the panel discussion, Arga shared insights into strategies for strengthening the resilience of Islamic banking amid economic volatility and crises. He emphasized the importance of shifting financing models toward greater adoption of profit-and-loss-sharing arrangements, strengthening impact measurement in financing activities, and enhancing cross-border collaboration.

"The exchange of ideas and international dialogue must continue, and we must sustain this momentum, particularly to help reduce fragmentation in ASEAN's Islamic financial markets," Arga said.

Arga further noted that regional integration and interoperability among Islamic financial markets are essential to expanding access to inclusive financial services for more than 250 million Muslims across ASEAN. In this regard, Bank BSN remains committed to actively participating in strategic dialogues and collaborative initiatives aimed at strengthening the region's Islamic finance ecosystem.

In his opening remarks, His Excellency Arun Boonchom, Sheikhul Islam of Thailand, emphasized that Islamic finance is rooted in the objectives of Shariah (Maqasid al-Shariah), which uphold social justice, equality, transparent risk-sharing, and the preservation of wealth for the common good.

The panel discussion, moderated by IFESDC representative Murniati Mukhlisin, also featured Islamic Bank of Thailand President Thaweelap Rittapirom and INCEIF University President Mohd. Azmi Omar as speakers.

The panelists agreed that Islamic financial instruments, including sukuk, as well as profit-and-loss-sharing and risk-sharing arrangements based on musharakah and mudarabah, have significant potential to mobilize financing for renewable energy, sustainable infrastructure, and small and medium-sized enterprises (SMEs).

The forum also underscored the importance of integrating Islamic social finance instruments, particularly zakat and waqf, into the broader financial ecosystem to strengthen social protection and support poverty alleviation efforts.

In his remarks, Islamic Development Bank (IsDB) Group Chairman Muhammad Sulaiman Al Jasser emphasized that the future success of the Islamic finance industry should not be measured solely by asset growth. Its tangible contributions to public welfare and community resilience must also serve as key indicators of success.

As a follow-up to the forum, ibank, as the host institution, will develop a set of policy recommendations titled the "Bangkok Policy Note." These recommendations are expected to provide a framework for advancing Islamic transition finance by strengthening institutional resilience, expanding financial inclusion, and enhancing the integration of ASEAN's Islamic finance ecosystem with global financial markets.

Source: Bank Syariah Nasional