Digitalising Maqasid al-Shariah: Islamic Finance for the Next Era
In conjunction with the 8th Global Islamic Finance Forum, Labuan IBFC together with Kenanga Investment Bank Berhad will host an exclusive post-forum titled “Digitalising Maqasid al-Shariah: Islamic Finance for the Next Era” on 15 October 2025 at Sasana Kijang, Kuala Lumpur, Malaysia.
As Economy 4.0 unfolds, the intersection of digital innovation and Shariah-aligned finance presents unprecedented opportunities for ethical, inclusive growth. This high-level engagement presents Malaysia, via Labuan IBFC, as a leader in Islamic digital finance and tokenisation. Key highlights include Sukuk 4.0 to unlock global liquidity to AI Sukuk as a new asset class, with smart contracts enhancing zakat and waqf transparency. The programme also introduces Climate Sukuk, integrating Maqasid al-Shariah with green finance by tokenising carbon and biodiversity credits, alongside discussions on AI, SME access and measurable ESG and SDG outcomes.
Aligned with this vision, the programme will also showcase Kenanga Investment Bank Berhad’s strategic fintech initiatives, particularly under Project Juara, which underscores how various parties can come together to shape Malaysia’s digital finance future.
As part of this milestone event, there will also be an MOU signing between Labuan IBFC Inc. and the Association of Shariah Advisers in Islamic Finance Malaysia (ASAS), a collaboration aimed at strengthening Shariah governance and talent and fostering greater innovation in Islamic finance.
Bringing together key stakeholders, this event offers a platform to shape the future of Shariah-compliant digital finance. Gain fresh insights and strategies to preserve, grow, and transition wealth through Malaysia and Labuan IBFC’s unique offerings.
As Economy 4.0 unfolds, the intersection of digital innovation and Shariah-aligned finance presents unprecedented opportunities for ethical, inclusive growth. This high-level engagement presents Malaysia, via Labuan IBFC, as a leader in Islamic digital finance and tokenisation. Key highlights include Sukuk 4.0 to unlock global liquidity to AI Sukuk as a new asset class, with smart contracts enhancing zakat and waqf transparency. The programme also introduces Climate Sukuk, integrating Maqasid al-Shariah with green finance by tokenising carbon and biodiversity credits, alongside discussions on AI, SME access and measurable ESG and SDG outcomes.
Aligned with this vision, the programme will also showcase Kenanga Investment Bank Berhad’s strategic fintech initiatives, particularly under Project Juara, which underscores how various parties can come together to shape Malaysia’s digital finance future.
As part of this milestone event, there will also be an MOU signing between Labuan IBFC Inc. and the Association of Shariah Advisers in Islamic Finance Malaysia (ASAS), a collaboration aimed at strengthening Shariah governance and talent and fostering greater innovation in Islamic finance.
Bringing together key stakeholders, this event offers a platform to shape the future of Shariah-compliant digital finance. Gain fresh insights and strategies to preserve, grow, and transition wealth through Malaysia and Labuan IBFC’s unique offerings.
Speakers
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Dr. Aida Othman, Board Member of ZICO Shariah Advisory Services Sdn Bhd
Dr. Aida Othman, Board Member of ZICO Shariah Advisory Services Sdn Bhd
Dr. Aida specialises in Islamic banking and finance, Islamic capital market instruments and takaful products and operations. She also advises on Shariah compliance and governance, including on the legal and regulatory framework for Islamic finance.
She currently serves as a Shariah committee member at several Islamic financial institutions.
Dr. Aida holds Bachelor of Laws and Bachelor of Islamic Law (Shariah) degrees from International Islamic University, Malaysia as well as a Master of Law degree from Cambridge University, United Kingdom. She obtained her PhD in Comparative Law & Middle Eastern Studies and completed her Postdoctoral Fellowship at Harvard University, USA. -
Mohammad Raafi Hossain, CEO and Co-founder of Fasset
Mohammad Raafi Hossain, CEO and Co-founder of Fasset
Mohammad Raafi Hossain is an entrepreneur with a diverse background in strategic roles across governments, multilaterals and corporates. Throughout his career, he delivered end-to-end projects in emerging technologies, economic development, climate change, renewable energy, healthcare, agriculture and education.
Before founding Fasset, Raafi served as Advisor to the UAE Prime Minister's Office. In this role, he seeded and facilitated several innovative initiatives that led to the adoption of emerging technologies across several sectors. He is also the founder of Finocracy, a think-and-do tank with a mission to democratize access to financial opportunities for the next billion people. Finocracy is a partner of the United Nations, the Global Fund, and the Islamic Development Bank among others.
Previously, Raafi worked for the United Nations in the MENA region focusing on agriculture, climate change and sustainable development. He also led the development of Narwi - an award-winning platform that connects ethical microfinance institutions with aspiring entrepreneurs and crowdfunded capital. Narwi created 5,000 new businesses and 15,000 jobs across 6 MENA countries through support from a global community of over 100,000 individuals.
Raafi has an academic background in Environmental Economics and Sustainable Development from the University of California Berkeley and Harvard University. -
Qin En Looi, Managing Partner, Onigiri Capital
Qin En Looi, Managing Partner, Onigiri Capital
Qin En Looi is the Managing Partner of Onigiri Capital, a venture capital fund launched by Saison Capital, the corporate venture arm of Japan’s Credit Saison. Qin En funds, advises, and empowers blockchain founders who are unlocking real-world, global financial products and utility across stablecoins, payments, tokenised assets, DeFi, and financial markets infrastructure.
At Saison Capital, Qin En is a Partner leading early-stage investments across fintech and commerce. He kickstarted Credit Saison’s digital asset strategy, and co-founded ONCHAIN, Asia’s first real-world asset conference.
Qin En was formerly the Co-Founder and COO of Glints, Southeast Asia’s largest talent ecosystem. He has been featured on Forbes 30 Under 30 and Entrepreneurs 27 Under 27 for being one of the youngest founders in the region to raise venture funding. -
Prof Dato' Dr. H'ng Paik San, Faculty of Forestry and Environment, Universiti Putra Malaysia
Prof Dato' Dr. H'ng Paik San, Faculty of Forestry and Environment
Universiti Putra Malaysia
Prof Dato' Dr. H'ng Paik San is a distinguished figure in Forestry, environmental science and sustainable finance, with a career bridging academia and industry. He's known for his expertise in carbon trading, sustainable forestry, and his significant contributions to global environmental policy.
Prof Dato' Dr. H'ng Paik San is a Professor at the Faculty of Forestry and Environment, Universiti Putra Malaysia (UPM), and previously hold the position as Head of the Laboratory at the Institute of Tropical Forestry & Forest Products. He holds a Ph.D. in Wood Science and Technology from UPM. His research interests include biomass, biofuels, and green technology, with a focus on sustainable use of biomass from sources like oil palm for graphene and graphite in energy products. He has also been a prolific author, publishing numerous articles and book chapters on these topics.
Prof Dato' Dr. H'ng is the founder of Tek Securities and ICAS Ltd. Tek Securities is a firm that incubates companies on their journey toward net-zero emissions, helping them with carbon assessments, emission reduction strategies, and ESG reporting. ICAS Ltd. is a consultancy specialising in sustainable practices, which uses GHG Protocol for transparent and efficient management of climate actions.
In collaboration with Unity Group, Dato' Dr. H'ng played a key role in structuring and launching what has been touted as the world's first climate sukuk with a carbon credit payout. This groundbreaking Islamic finance instrument, denominated in offshore Renminbi, is designed to fund green initiatives, with its initial tranche channeled into a green building project in Selangor. The sukuk offers investors two recurring revenue streams: energy savings and certified carbon credit revenue, demonstrating how ESG investments can be a source of both financial returns and tangible environmental impact.
Dato' Dr. H'ng is a recognised carbon credit expert and a key figure in the development of International ISO environmental standards. He is the Chairman of the Malaysian National Standard TC1 and serves as Malaysia's National Representative & Convener for ISO Standards. His work has been instrumental in integrating timber standards into the International Standards Organisation (ISO). He also acts as a technical expert to the then Ministry of Green Technology on Malaysia Green Technology Roadmap. His involvement in the ISO working committee on ESG standards is reflected in his advisory and consultancy work, where he emphasises the importance of credible and transparent financial mechanisms for climate change mitigation. -
Dr. Qasim Nasar-Ullah, Director Co-Founder, Arabesque ASG Pte Ltd
Dr. Qasim Nasar-Ullah, Director Co-Founder, Arabesque ASG Pte Ltd
Dr. Qasim Nasar-Ullah serves as co-Founder and Senior AI Engineer at Arabesque AI, and has been with the Arabesque Group since 2014. Since 2021, Qasim has been in Singapore leading an AI and Data Analytics programme that has received funding (via the MAS [Monetary Authority of Singapore] AIDA [Artificial Intelligence and Data Analytics] grant. Qasim has served as an Honorary Researcher at UCL (University College London) since 2014. Qasim obtained his Ph.D. at UCL in the area of GPU-based high performance parallel financial derivatives computation.
Event Details
Date :
15 October 2025
(Wednesday)
Time :
0815AM - 1215PM
Address :
Conference Hall 2, Sasana Kijang
2, Jalan Dato Onn,
Kuala Lumpur, Malaysia