Topics of the conference

Overview of the Second Talks (Open Banking & Islamic Finance):

With the participation of leading experts from all over the world, FSC’s Second talks will be launched on May 29th, 2022, in the presence of a number of Ministers and Government leaders to discuss the Islamic Bank and Open Banking, their opportunities and developments within the financial sector.

The event will discuss several topics related to Open Banking & Islamic Finance, including the following themes:

The Open Banking Journey in the Kingdom

• The concept of open banking: this topic discusses the definition of open banking, methods of implementing it globally and the approaches taken by the kingdom.

• The open banking program map and what comes after the implementation: this topic discusses all program’s activities from the strategic stage to the implementing stage

• The roadmap for launching open banking services

An Overview of Innovation in Open Banking

• Innovation in Open Banking – this topic focuses on the innovation within the open banking field and how it will enhance the financial services and products, open access to new players; and bring higher efficiency to the market with the introduction of new business, models and technologies in more efficient, secure and standardized ways.

• Open Banking Use Cases – this topic will focus on Reimagining the Financial Services sector by introducing new business model/use cases based on sharing the customer financial data.

• What is beyond Open Banking – this topic focuses on how Open Banking progress globally is going beyond the scope of open banking data and products to open finance. It also focuses on the progress globally, the customer’s needs and uses-cases of open finance.

Islamic finance and national aspirations/ The role of Islamic finance in achieving the goals of Vision 2030

• Small and medium enterprises and prospects for Islamic finance: This topic focuses on the role of the public, private and non-profit sectors in achieving growth and stability for the small and medium enterprise sector, global trends and various applications to apply various formulas in Islamic finance to fund the small and medium enterprise sector. It also focuses on Islamic social financing and economic empowerment of small and medium enterprise sector and integrating them within national economic recovery and sustainable development policies

• Sukuk sector and financing development projects in the Kingdom: It focuses on the position of the Kingdom within the international level in Islamic Sukuk, the role of Islamic Sukuk in the participation of achieving the objectives of the Financial Sector Development Program in line with the Saudi Vision 2030. It also discusses the role of regulators in issuing and regulating the Islamic Sukuk market with the best global practices and international standards in Islamic finance, the contribution of green investment in the creation of Islamic green Sukuk, and the flexibility of Islamic Sukuk and how they are considered as a booster for Islamic finance even in economic crises.

Future Opportunities for the Islamic Financial Industry

• Endowment sector and sustainable development goals: This topic focuses on the position of the Kingdom within the international level in endowments, the role of endowments in achieving the sustainable development goals, the role of endowment funds in achieving the goals of the Islamic economy based on Islamic Shariah purposes as a pillar of the Kingdom’s economy, and how endowment assets help developing infrastructure and support economic recovery

• Islamic Fintech sector and digital transformation: This topic discusses the Islamic Fintech and digital transformation in the Arab Gulf region between reality and future ambition, the applications of artificial intelligence in Islamic finance between innovation and Sharia commitment. It also focuses on the global trends in Islamic Fintech and its importance in achieving financial inclusion and supporting small and medium enterprises, possible factors to make the system of countries more appropriate for the growth of Islamic Fintech, and competitiveness and the future of the Islamic Fintech sector.