In the meeting, at first the secretary of international affairs of the Iranian Association of Islamic Finance (IAIF), expressed its gratitude to new members on behalf of the IAIF, mentioning the main reason for shaping the committee.

Then Prof. Dr. Azmi Omar, President and CEO of INCEIF University, gave his lecture regarding a practical decision made by Malaysian authorities in Islamic finance area.

He said a social finance initiative led by Bank Negara Malaysia (BNM) launched in May 2020 that supports low-income micro-entrepreneurs by combining social finance, micro-financing, and structured business and financial training

Empowering B40 or Low Income Communities

iTekad supports B40 and microentrepreneurs, providing them with resources and opportunities for economic empowerment.

Social Finance Tools Integration

The initiative combines zakat, sadaqah, and cash waqf with microfinancing to create sustainable financial solutions.

Entrepreneurship and Training

iTekad offers structured training to develop entrepreneurship skills and foster financial resilience among underserved populations.

iTEKAD implementation involves diverse modalities and inclusive target segments…

Build capacity and provide financing to new and existing entrepreneurs in B40 group (incl. single mothers, micro and existing / graduated asnaf)

Nurture entrepreneurs from 2nd generation asnaf e.g. unipreneurs

Provide access to mentorship and guidance for pre-franchise businesses

Develop waqf land for productive agricultural projects

Provide digital infrastructure support

Create employment and entrepreneurship skills among gig workers

Then, the members raised questions about it, and Dr. Azmi Omar answered them.

Also, Ayatollah Mesbahi Moghadam, the head of the Sharia Council of the Central Bank of Iran and the head of the Sharia Committee of the Securities and Exchange Organization of Iran, as the second speaker of the session, began presenting his remarks on the innovations implemented by the Sharia Council of the Central Bank of Iran and the Sharia Committee of the Securities and Exchange Organization.

He further stated that positive developments have occurred in Iran's financial markets as a result of some innovations by the Sharia Council and the Sharia Committee, which have led to new openings.

At the end, Ayatollah Mesbahi Moghadam said that the Islamic Republic of Iran is ready to share its valuable experiences in this field with other countries.

1- Dr. Gholam Reza Mesbahi Moghadam, Head of Sahariah Council at Central Bank of Iran and Head of Shariah Committee at Securities and Exchange Organization of Iran (SEO)

2- Dr. Azmi Omar. President and CEO INCEIF, Malaysia

3- Sheikh Shabbir Hasan Maisami, Founder & Chairman, Al-Sadiq Institute of Islamic Banking, Finance & Takaful, Pakistan

4- Dr. Mohamad Akram Laldin from INCEIF, Malaysia

5- Dr. Turalay Kenç, Former Deputy Governor of Central Bank of Turkey

6- Dr. Mughees Shaukat Executive Advisor at Islamic International Rating Agency, Bahrain

7- Dr. Hossein Meysami, Head of the Secretariat of Shariah Council of the Central Bank of Iran

8- Dr. Majid PouyanMehr (formerly Pireh). Head of Islamic Finance Office at Securities and Exchange Organization of Iran

9- Dr. Taslima Julia, Researcher in Islamic Finance, Bangladesh  

10- Br. Farrukh Raza, Group CEO at IFAAS (Islamic Finance Advisory & Assurance Services), the UK

11- Dr. Khairunnisa Musari, Researcher, Indonesia

12- Dr. Ziyaad Mahomed, INCEIF, Malaysia

13- Amir Yousefi Moghadam, Iran

14- Alireza Kamandi, Iran