IFN OnAir

In this episode, IFN journalist Radhika Das speaks with Sue Lee, the APAC head of index investment strategy at S&P Dow Jones Indices, about the performance of Islamic capital markets during the first half of 2026, including the role of technology in Islamic equity returns, emerging market performance, Sukuk and the evolving demand for Islamic index products.

Bursa Malaysia’s CFO and Director of the Islamic Capital Market, Azizan Abdul Aziz, talks to IFN Editor Nessreen Tamano about how partnerships, digitalization and efforts to deepen liquidity are shaping the next phase of Malaysia’s Islamic capital market.

Radhika Das, IFN Journalist, interviews Desislava Radeva, Executive Director, Structured Export Finance at Standard Chartered, on structuring Uzbekistan's first commodity Murabahah facility, the role of risk mitigation in frontier markets, collaboration between commercial banks and multilateral institutions, and the future of Islamic trade and structured finance.

In this episode, Aminah Farid speaks with Bashar Al Natoor, global head of Islamic finance at Fitch Ratings, on the geopolitical resilience of the Sukuk market, the significance of tokenization, genuine ESG impact versus greenwashing, the challenges of cross-border Shariah standardization and the markets best positioned to drive the next phase of global Islamic finance growth.

In this episode, IFN journalist Radhika Das speaks with John Gartchie Gatsi, adviser to the governor on non-interest banking at the Bank of Ghana, about the implementation of Ghana's non-interest banking guidelines, prospects for Sukuk and Takaful and the progress toward licensing the country's first Islamic banking institutions.

 Radhika Das, IFN Journalist, interviews Aymen Kasem, Division Manager of Trade Development at the International Islamic Trade Finance Corporation, on intra-OIC trade, SME participation, digitalization and trade development as a driver of regional integration 

Radhika Das, IFN Journalist, interviews Ahmed Jan, General Manager of Treasury at the International Islamic Trade Finance Corporation, on trade finance priorities, resource mobilization, strategic partnerships and advancing regional integration across OIC markets 

A concise assessment of the Shariah-compliant investment and wealth management solutions available to North American investors: ETFs, mutual funds, REITs, SMAs and model portfolios. The panel will evaluate where products meet investor needs on performance, diversification and cost, and where under-served areas remain, including income, alternatives and thematic exposures. Discussion will highlight the evolving role of wealth managers and advisers, alongside growing demand for broader financial solutions, including savings and home financing.Moderator:Tariq Al Rifai, Advisor, Economic PolicyPanelists:Ahmad Quqa, Founder & Chief Executive Officer, Crescent Private WealthAijaz Hussain, Executive Vice President of Sales & Director, UIF CorporationElias Scheker Da Silva, Portfolio Manager – Global Fixed Income, WafraDr Mohamad Sawwaf, Founder and CEO, ManzilSaad Malik, CEO & Co-founder, Zoya Finance

We examine how fintech, digital RIAs, and wealth-tech apps are reshaping access to Shariah-compliant investments in North America. Panellists will address the practical state of tokenisation in real estate, private credit, and fund structures, as well as the evolving role of P2P and crowdfunding platforms. The conversation will address investor-protection and Shariah-governance considerations, and outline regulatory developments that could support responsible, scalable digital Islamic investing across the US and Canada.Moderator:Ishmam Ahmed, Managing Director, Hoya AdvisoryPanelists:Fahad Siddiqui, Founder & CEO, MabrookLawrence Oliver, Executive Director, Deputy CEO, DDCAP Group/ETHOS AFPMichal Selbka, Director – DeFi, Digital Assets & Tokenization North America, S&P Global RatingsSouhayl Maronesy, Founder and CEO, EdificeX

Moderator:Irshad Rasheed, President, Stearns Salaam BankPanelists:Aamir Rehman, Chair, Innate Capital PartnersAijaz Hussain, Executive Vice President of Sales & Director, UIF CorporationAhmad Quqa, Founder & Chief Executive Officer, Crescent Private WealthMonem Salam, Executive Vice President, Director, and Portfolio Manager, Saturna CapitalMushfique Shams Billah, Chair of Private Credit Team & Partner, Barnes & Thornburg LLP

Michael McMillen, Partner, Curtis, Mallet-Prevost, Colt & Mosle LLP

Irshad Rasheed, President, Stearns Salaam Bank

This session explores the opportunities and constraints for Shariah-compliant investing across US private markets, including private credit, venture, growth equity, real assets, and real estate. Speakers will consider structuring approaches, liquidity expectations, governance issues, and how managers are adapting Shariah requirements to modern private-market practices. The panel will also examine where genuine deal flow exists, the current presence of US-domiciled Islamic private-market vehicles, and how tokenisation may broaden investor access to alternatives.Moderator:Mushfique Shams Billah, Chair of Private Credit Team & Partner, Barnes & Thornburg LLPPanelists:Aamir Rehman, Chair, Innate Capital PartnersDr Amjad Hammad, Founder and Managing Partner, Baraka Prosperity PartnersCharles Stackhouse, Senior Vice President, JA Mitsui Capital CorporationShakeel Adli, Founder and CEO, ZunikhThomas Polson, General Partner, Polson Real Assets

Patrick Drum, Fixed Income Lead and Portfolio Manager, Saturna Capital

From a high-level perspective, we assess the state of Shariah-compliant investment management in North America and how it is adapting to the needs of a digital-first Muslim investor base. Discussion will focus on how ETFs, SMAs, model portfolios, and fintech platforms are shaping product design, distribution, and investor education. Panellists will assess how Islamic strategies are being positioned within the broader values-based investing landscape, where innovation is happening, and what gaps still limit scaling across RIAs, family offices, and wealth-tech channels.Moderator:Dr Ehab Elsonbaty, Partner, DLA PiperPanelists:Junaid Wahedna, Founder and Chairman, Wahed InvestKamal Solaiman, CEO and Managing Partner, Sinbad CapitalProfessor M Kabir Hassan, Professor of Finance, Department of Economics and Finance, University of New OrleansMonem Salam, Executive Vice President, Director, and Portfolio Manager, Saturna CapitalZeshan Gondal, Senior Vice President, Stearns Salaam Bank

Professor M Kabir Hassan, Professor of Finance, Department of Economics and Finance, University of New Orleans

State Senator Kevin Parker , New York State Senate

Radhika Das, IFN Journalist, interviews Dr Moutaz Abojeib, CEO of IFAAS, on emerging Islamic finance markets, regulatory development, Islamic climate finance and opportunities for industry growth

Radhika Das, IFN Journalist, interviews Zishan Iqbal, Manager for Asia Region in the Business Development Department at the Islamic Corporation for the Insurance of Investment and Export Credit, on trade and investment opportunities in Asia, risk mitigation and strengthening connectivity between Asian and OIC markets

Radhika Das, IFN Journalist, interviews Yasser Madani Alaki, Director of the Business Development Department at the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), on ICIEC’s growth strategy, infrastructure financing opportunities, partnerships and future initiatives

Radhika Das, IFN Journalist, interviews Mohamud Hussein Khalif, Director of the Underwriting Operations Department at the Islamic Corporation for the Insurance of Investment and Export Credit, on geopolitical risks, underwriting trends, political risk insurance and the outlook for global trade and investment

Radhika Das, IFN Journalist, interviews Ahmed Samir, Group Treasury Manager at Elsewedy Electric, on infrastructure exports, risk mitigation, trade finance and the role of insurance solutions in supporting expansion into developing markets

Radhika Das, IFN Journalist, interviews Boubacar Correa, Board Director and Aminata Faye Seck, CEO of Banque Islamique du Senegal, on financial inclusion, SME financing, growth strategy and supporting regional development in West Africa

Radhika Das, IFN Journalist, interviews Ousseni Ilboudo, Group Head of Islamic Finance at Coris Holding, on Islamic finance growth in West Africa, financial inclusion, SME financing and regional economic integration

Radhika Das, IFN Journalist, interviews Azim Rali, Assistant Vice President, Marketing & Corporate Communications at Amana Bank and Secretary at OrphanCare Trust, on Islamic social finance, child welfare initiatives, Waqf and sustainable social impact

Radhika Das, IFN Journalist, interviews Sujithav Sarangi, Executive Director at Standard Chartered, on the award-winning commodity Murabahah facility for Agrobank, Islamic finance development in Uzbekistan, Shariah compliant liquidity solutions and regional integration

Radhika Das, IFN Journalist, interviews Mohamad Safri Hamid, CEO of the International Islamic Liquidity Management Corporation, on diversifying the IILM's asset base, expanding its Sukuk program and supporting global Islamic liquidity management

Radhika Das, IFN Journalist, interviews Nurym Ayazbayev, Executive Director of the Directorate of Lending to Financial Institutions at the Eurasian Development Bank, on Islamic finance in Central Asia, the bank's Islamic window and Sukuk plans

Radhika Das, IFN Journalist, interviews Mary Kamel, Executive Director of the Foreign Trade Training Centre, on the STEP program, SME export development, capacity building and strengthening intra-OIC trade

Radhika Das, IFN Journalist, interviews Anar Yusufzada, Member of the Board of the Alternative Banking Council (ABC); Nariman Imranov, Business Development Manager at ABC; and Gorkhmaz Aghayev, Chairman of the ABC, on Azerbaijan's Islamic finance development, SME financing, Sukuk opportunities and regional integration

Radhika Das, IFN Journalist, interviews Eralp Delikkaya, Financial Institutions Director at Destek Bank, on participation banking opportunities in Turkiye, funding diversification, international partnerships and Islamic finance

Radhika Das, IFN Journalist, interviews Madina Yerzhanova, Deputy Chairman of the Board of the Export Credit Agency of Kazakhstan, on cooperation with ICIEC, export development, regional integration and expanding trade across OIC markets

Radhika Das, IFN Journalist, interviews Affendi Rashdi, Director General of Labuan Financial Services Authority, on the Awqaf Free Zones initiative, the modernization of Waqf assets, Labuan's role in Islamic finance and sustainable development financing

In this episode, IFN journalist Radhika Das speaks with Mohamud Hussein Khalif, director of the underwriting operations department at the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), about the impact of geopolitical uncertainty on political risk and export credit insurance demand, evolving underwriting practices and the outlook for global trade and investment across ICIEC member countries

In this episode, Aminah Farid speaks with officials from the Ugandan government and financial regulators on how Uganda is structuring its debut sovereign Sukuk to manage debt sustainability, the progress of the Standard Gauge Railway project and the role of Islamic finance in broadening the country's infrastructure financing mix.

Irshad Rasheed, a founding board member of Islamic Finance Trade Association of North America, gives IFN an exclusive first look into the country’s first industry-wide trade association, which already has a healthy pipeline of initiatives including the launching of Sukuk and a Shariah compliant education savings plan.

We explore how Uzbekistan’s accelerating digital transformation can drive Islamic finance adoption. We discuss digital onboarding, blockchain applications, fintech partnerships, and how the national payments ecosystem can support scalable Shariah-compliant banking and Takaful solutions.Moderator:Dr Adnan Aziz, Managing Director, Inclusive Resource ManagementPanelists:Alkhazur Tazbaev, Shariah Advisor, Zayed Fund for Entrepreneurship and InnovationIrodakhon Oripova, Project Manager, Mezon KengashiMurod Khusanov, Founder and Chair, BetterFuture GroupOkan Ünverdi, Chief Operating Officer, MobvenOtabek Aliaskarov, Member of Expert Council, Fintech Association of UzbekistanOtabek Nasirov, Chairman, Central Asian Fintech Association

We review the regulatory enablers for funds and asset management, prospects for Shariah-compliant collective investment schemes, demand from institutional and retail investors, and the potential for partnerships with regional asset managers as Uzbekistan develops its capital markets.Moderator:Hayotjon Azimov, Head of Advisory, Al Muamalat ConsultingPanelists:Hakan Ozyon, Group Chief Executive Officer, Hejaz Financial ServicesLeah Weldon-Evans, Head of Islamic Capital Markets and Structuring, Simmons & Simmons Middle EastDr Indra Gunawan, Chief Investment Officer and Member of Executive Board, Badan Pengelola Keuangan HajiMunir Yakubov, CEO and Founder, Portfolio Investments

Muzaffarjon Nizamidinov, Senior Principal, Line of Finance, Islamic Corporation for the Development of the Private Sector

A regional deep dive exploring how Uzbekistan can anchor an Islamic investment and capital-raising corridor across Central Asia. The session highlights opportunities for regional cross-border trade and capital flows, infrastructure financing, investment partnerships, and the policy measures needed to elevate Uzbekistan’s competitiveness as an Islamic finance and capital market hub in the New Asia economic landscape.Moderator:Dr Adnan Aziz, Managing Director, Inclusive Resource ManagementPanelists:Alisher Djumanov, Managing Partner, AD WealthDiyor Isroilov, Head of Investor Center Coordination Unit, Ministry of Investment, Industryand Trade of the Republic of UzbekistanJames Sadler, Head of Debt Capital Markets and Structured Finance, Banking and Corporate Finance, Oman Investment BankLeah Weldon-Evans, Head of Islamic Capital Markets and Structuring, Simmons & Simmons Middle EastUlan Abylgaziev, Division Manager, Line of Finance Division, Islamic Corporation for the Development of the Private Sector

We examine the next phase of Uzbekistan’s Islamic finance agenda, including regulator-driven ecosystem development, the integration of international Shariah and prudential standards, capacity-building priorities, and the active role of state-owned enterprises and corporates in establishing a sustainable industry foundation.Moderator:Alisher Djumanov, Managing Partner, AD WealthPanelists:Bakhrom Numonov, Council Chairman, Association of Islamic Finance & TakafulBashar Al-Natoor, Managing Director and Global Head of Islamic Finance, Fitch RatingsBekhruzbek Ochilov, Investment Banking Director, ALKESAssociate Professor Dr Gapur Oziev, Managing Director, IKIACADMYMukhtar Umarov, Chairman, Assembly of Economy of Uzbekistan

Saibjan Khudayberdiyev, Head of Capital Market Development Department, National Agency for Prospective Projects of the Republic of Uzbekistan

Musakhadzhaev Sanjar, Deputy Director of Department, Uzbekistan Banking Association

Irvan Susandy, Director of Trading and Membership, Indonesia Stock Exchange

We explore how Indonesia can evolve its investment sector beyond existing models to become a regional hub for Shariah-compliant funds and private equity. We discuss the need for product innovation, including new fund structures, private market strategies and diversified asset classes, to attract global Islamic capital. We also examine how technology, regulatory support, collaboration and ESG integration can strengthen market access, transparency and competitiveness.Moderator:Kautsar Primadi Nurahmad, Vice Director, Corporate Secretary, Indonesia Stock ExchangePanelists:Abdulhaq Mohammed, Singapore Managing Partner and Head of Asia, Trowers & HamlinsArief Subekti, Executive Vice President, Head of Shariah Business, PT Sarana Multi Infrastruktur (Persero)Dr Bilal Ilhan, County Advisor – Investment and Finance Office, Presidency of the Republic of TürkiyeDarius Nass, Associate Director, Global Equity Indices, S&P Dow Jones IndicesDr Indra Gunawan, Chief Investment Officer and Member of Executive Board, Badan Pengelola Keuangan Haji

Dr Nabil Hani Qaddumi, Chairman of the Board of Directors, TaawonDr Tareq Emtairah, Director General, Taawon

Mufti Faraz Adam, Shariah Advisor – Digital Assets, Tokenisation & Web3, Fasset

We examine the development of Islamic capital markets across ASEAN and the shared challenge of transforming regional scale and demand into sustained issuance, liquidity, and market depth. The discussion will explore opportunities and constraints in corporate sukuk and Shariah-compliant capital raising across ASEAN markets, including issuer readiness, pricing dynamics, cross-border structures, and secondary market participation.We discuss how innovation, fintech and regulatory collaboration can broaden the issuer base, strengthen investor confidence and support a more resilient Islamic capital markets ecosystem.Moderator:Rafiza Ghazali, Managing Director, Consumer Banking, FassetPanelists:Boniarga Mangiring, Investment Specialist, Credit Guarantee and Investment FacilityDimas Yusuf, Investment Director, Sucor Asset ManagementDien Sukmarini, Senior Assistant Director of Capital Markets and Islamic Capital Market Development Directorate, Financial Services Authority (OJK)Irwan Abdalloh, Senior Vice Director, Head of Islamic Capital Market Division, Indonesia Stock ExchangeDr Mohamad Zabidi Ahmad, Regional Chief Representative, DDCAP Group™

Through an expert panel, we explore Indonesia’s Islamic finance landscape, spanning banking, capital markets, Takaful, social finance and MSME financing. We examine policy and regulatory priorities shaping a resilient Shariah-compliant ecosystem, alongside strategies to expand financial inclusion and improve access to finance for MSM enterprises. We discuss the growing role of Islamic fintech, collaboration among regulators, institutionsModerator:Nicholas Edmondes, Partner, Trowers & HamlinsPanelists:Anna Kristanty, Senior Vice President of International & Financial Institution Group, PT Bank Syariah IndonesiaChong Jun Wong, Assistant Vice President – Analyst, Financial Institution Group, Moody’s RatingsEko Adi Irianto, Deputy Director, Department of Islamic Economy and Finance, Bank IndonesiaMochamad Imron, Senior Analyst, the Directorate of Banking, Financial Market and Other Financing Development, Directorate General of Stability and Financial Sector Development, Ministry of Finance Republic of IndonesiaRahman Hakim, Deputy Director – Islamic Banking Directorate – Shariah Banking Development and Regulation, Financial Services Authority (OJK)

Henry Rialdi, Head of Department of Capital Market Regulation and Development, Financial Services Authority (OJK)