H.E. Dr. Mohamed Mustafa Shoaib, the supervisor of the Academy’s Fatwa and Reviews Center, on behalf of the Secretary General of the Academy, participated in Islamic Economics’ Strategic Meeting organized by the Council of Islamic Banks and Financial Institutions (CIBAFI) entitled: Islamic Banking Ethics and the Role of Stakeholders in Implementation, on 22 Shaaban 1444, corresponding to 14 March 2023 in Madinah, Kingdom of Saudi Arabia.

His presentation was entitled: The Ethics of Islamic Banking and the Role of Stakeholders in its application, in which he discussed the importance of ethics and the need to observe them, especially in physical and economic transactions. Unlike other economies, Islamic economy is based on values and morals, mentioning several legal texts in this context, as well as the sources of ethics in general. He also defined the ethics of Islamic banking, explaining its sections and listing a set of foundations on which it is based, as well as the fruits that the Islamic financial institution reaps and those who are part of it through their commitment to these foundations and ethics.

The meeting included some interesting interventions and discussions among the researchers, board members, and executives who attended the meeting.