Business & Money | Wednesday 9 March, 2016 12:01 pm |

The Responsible Finance Summit today announced that Mr. Zainal Izlan Zainal Abidin, Executive Director of Islamic Capital Market at Securities Commission Malaysia, will speak at the groundbreaking gathering of global Islamic and responsible finance leaders. The Summit, which is hosted by Bank Negara Malaysia, organised by the RFI Foundation and co-organized by Middle East Global Advisors, will be held on 30-31 March in Kuala Lumpur.  Mr. Zainal Izlan’s participation will provide a unique perspective alongside responsible finance leaders.  

A veteran financial services professional who has worked at Citibank, Schroder Investment Management and MIDF Amanah Asset Management, Mr. Zainal Izlan heads the Islamic Capital Market Business Division at Securities Commission Malaysia (SC). He will spearhead discussions on how Islamic and responsible finance can meet the values of the burgeoning middle class and support sustainable, inclusive and equitable economic growth. 

The growth in Asia’s middle class—from 525 million today to over 3.5 billion by 2030, according to EY—is projected to fuel significant changes in the demand for responsible financial services. To meet the expectations of a new consumer base and support its growth, financial sector regulators have developed appropriate frameworks to facilitate the growth of responsible finance practices.  One of the most recent catalysts in this regard is the SC’s Sustainable and Responsible Investment (SRI) Sukuk framework. Launched in 2014, the framework has paved the way for the world’s first issuance of an SRI Sukuk by Khazanah Nasional, the sovereign investment arm of the Malaysian government.

Commenting on the Summit, Mr. Zainal Izlan said: “Countries across Southeast Asia can support the gains made in recent years to develop a vibrant middle class by attracting the rapidly growing pool of funds that seek socially-responsible and ethical investing opportunities - especially those from developed markets. In line with this development, the SC has introduced the SRI Sukuk framework to facilitate access to a wider range of investment and fundraising products for both investors and issuers in the sukuk market. The Responsible Finance Summit aligns well with this goal by highlighting similarities in principles and values implemented in both traditional responsible finance approaches and Islamic finance.”