17th IFSB Summit Opens: Global Industry Stakeholders Convene in Muscat to Chart Course for Islamic Finance Stability and Growth

The three-day Summit addresses forward-looking regulatory and market development issues, crisis preparedness, sustainability and inclusion

Muscat, OMAN - 3 February 2026: The Islamic Financial Services Board (IFSB) today opened the 17th IFSB Summit in Muscat, hosted by the Central Bank of Oman, bringing together central bank governors, regulators, policymakers and industry leaders to discuss the future role of Islamic finance in an increasingly complex and uncertain global financial environment.

Under the theme "Islamic Finance for the Future: Breaking New Ground for Global Impact", the Summit will focus on how Islamic finance can move beyond incremental growth to play a more proactive role in addressing economic disruption, financial inclusion gaps, sustainability challenges, and market development constraints.

Dr. Ghiath Shabsigh, the Secretary-General of the IFSB noted that "As the global financial system faces growing fragility and disruption, Islamic finance has the opportunity to move from a reactive industry to a proactive alternative - offering structurally resilient, risk-sharing and purpose-driven alternatives that the system increasingly needs."

He added that "The real innovation in Islamic finance lies not in replicating conventional finance, but in remaining true to its principles. Those principles - risk sharing, economic substance and ethical governance - are precisely what the global financial system now seeks."

H.E. Ahmed Jaafar Salim Al-Musalmi, Governor of the Central Bank of Oman, in his opening address highlighted the importance of trust and foresight in financial system design. "In times of uncertainty, it is not speed that sustains financial systems - it is trust. Islamic finance reaffirms that prudence is foresight, effective regulation is enablement, and responsible finance is foundational,".

He further emphasised that, "Islamic finance places discipline before leverage, substance before form, and trust before speed."

The two-day Summit will explore key issues shaping the future of Islamic finance, including navigating economic and technological disruption, strengthening the non-bank financial sector, promoting financial inclusion and social finance, addressing sustainability and climate-related financial risks, and enhancing market depth and liquidity, particularly in sukūk markets. Dedicated discussions will also examine crisis preparedness, financial safety nets, and the resilience of the Islamic financial system.

The Summit opened with a Pre-Summit programme, featuring a CEO's Forum on aligning profitability with social purpose, alongside parallel forums and roundtables on digital transformation in Islamic finance, liquidity management challenges, the role of credit rating agencies in market development, and the contribution of NGOs to scaling social and economic impact. These sessions highlight the growing need to integrate innovation, effective regulation and supervision and social impact considerations as the industry evolves.

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