Unlocking Islamic Sustainable Finance
Islamic finance has become a significant sector, with the global industry valued at around $4 trillion in 2023 and expected to reach $6.7 trillion by 2027. However, as the deadline for updating Nationally Determined Contributions (NDCs) approaches, many countries face challenges in achieving their climate goals due to a lack of adequate funding. With the UNFCCC estimating that over $6 trillion is needed annually by 2030 to meet these targets, the shortfall underscores the necessity for new, inclusive financing solutions. Islamic finance presents a promising alternative, focusing on ethical risk-sharing and asset-backed principles, which increasingly resonate with the demand for sustainable financial practices globally.
Building on the momentum from previous Islamic sustainable finance events and the Tayyib platform, a global ESG tool for asset managers, more work remains to fully realise the potential of Islamic finance. GEFI, with its expertise in this field, and DIFC, a regional sustainable finance leader, are working collaboratively to advance Islamic sustainable finance in the region. Our summit aimed to inspire the sector, urging a focus on practical progress over delays to help bridge the global finance gap and address critical sustainability challenges.
Agenda
09:00 - 09:30 Registration and Networking
Welcome Words & Quran Recitation

Naveen Raza

Net Zero Transition and Partnerships, HSBC
Naveen Raza
Naveen is a banking professional with over 18 years of experience. Her early career started in Islamic Finance with HSBC Amanah, since then she has worked in various roles at HSBC in the UK and UAE including Private Banking & Wealth Management, Strategy & Planning, Streamlining & Process Excellence. She also has extensive experience in Project Managementand ESG. Recently Naveen was the Head of Sustainability & Financial Inclusion for Wealth & Personal Banking HSBC EMEA.
She is now looking after Net Zero Transition & Partnerships in the HSBC MENAT Sustainability Centre of Excellence which includes working on customer’s transitions plans as well as developing HSBC’s external sustainability and philanthropic partnerships.
Opening Keynote

Alya Al Zarouni

Chief Operating Officer, DIFC Authority
Alya Al Zarouni
As the Chief Operating Officer (COO) of the DIFC Authority (DIFCA), Alya is responsible for setting the strategic direction of DIFCA’s operations and client experience. She brings more than 20 years of experience in developing and delivering technology-driven business services and solutions, providing outstanding client service, and driving internal efficiency through policy, process and digital transformation. Prior to her appointment as the COO, Alya assumed multiple roles across different functions in DIFCA and has led the transformation of DIFC services since 2010.
Alya was appointed as Board Member of the World Alliance of International Financial Centers (WAIFC) in 2023, an association registered in Belgium representing 19 leading international financial centres across four continents.
She has also been serving as a board member of Hawkamah: The Institute for Corporate Governance for over three years and led the DIFC Academy since its inception until 2022.
In terms of her education, Alya was at the top of her class and earned both her BSc in Computer Science and MBA from the American University of Sharjah. She has an LLM in International Business Law from the University of Paris II Pantheon Assas (Magna Cum Laude). She is a graduate of the prestigious Mohammed bin Rashid Center for Leadership Development, completing both the Young Leaders Programme and the Dubai Leaders Programme.
Presentation - Framing Islamic Sustainable Finance

Omar Shaikh

Managing Director, GEFI
Omar Shaikh
Omar is the Managing Director of the Global Ethical Finance Initiative (GEFI) and Board Member of the UK Islamic Finance Council (UKIFC)
A Chartered Accountant by profession, he specialises in ethical/responsible finance, Islamic finance, and private equity. He has extensive experience in financial services and has advised multiple governments and regulators on ecosystem building as a leading advocate for sustainable and Islamic finance. His background includes working with EY London, where he qualified as a CA and was the former Head of Islamic finance.
Through his GEFI work, Omar has established a number of initiatives, including the Path to COP, the SDG Financial Products platform with UNDP, which promotes innovative financing structures for the SDGs, the Global Islamic Finance and UN SDGs Taskforce launched with the UK Government and IsDB, and the award-winning interfaith Edinburgh Finance Declaration—the world’s first shared values approach to finance between Islamic finance and the Church. He also served on the Board of the University of Oxford Faith-Aligned Impact Finance Project
Omar received a BAcc and a PhD from the University of Glasgow along with an Honorary Doctorate from Heriot-Watt University conferred for his work in developing ethical finance. Beyond finance, he is actively involved with Colourful Heritage which works with Glasgow Museums to preserve and celebrate South Asian heritage in Scotland, The King’s Trust Scotland and Olivewood Primary School.
Fireside - Synergies between Islamic and Sustainable Finance

Naveen Raza

Dr Mohamed Damak

Net Zero Transition and Partnerships, HSBC
Naveen Raza
Naveen is a banking professional with over 18 years of experience. Her early career started in Islamic Finance with HSBC Amanah, since then she has worked in various roles at HSBC in the UK and UAE including Private Banking & Wealth Management, Strategy & Planning, Streamlining & Process Excellence. She also has extensive experience in Project Managementand ESG. Recently Naveen was the Head of Sustainability & Financial Inclusion for Wealth & Personal Banking HSBC EMEA.
She is now looking after Net Zero Transition & Partnerships in the HSBC MENAT Sustainability Centre of Excellence which includes working on customer’s transitions plans as well as developing HSBC’s external sustainability and philanthropic partnerships.

Managing Director, Global Head of Islamic Finance MEA, S&P Global Ratings
Dr Mohamed Damak
Dr. Mohamed Damak is the Managing Director and Global Head of Islamic Finance at S&P Global Ratings, guiding the firm’s approach to Islamic finance in the Middle East and Africa. With over 20 years in the financial sector, he provides insights into Islamic banking, sukuk markets, and Shariah-compliant instruments. Before re-joining S&P Global Ratings, Mohamed worked as a Principal Credit Risk Officer for the African Development Bank in Tunis.
He holds a PhD in Finance and Master in “Money, Banking and Finance” from the University of Paris 2, Pantheon Assas and a Master degree in Financial Institutions Management from Ecole Supérieure de Commerce de Tunis.
Dr. Damak has authored numerous reports on the sector’s growth and challenges and is a sought-after speaker at international conferences and contributes regularly to discussions on the integration of Islamic finance into the global financial system.
Presentation - Green and Sustainability Sukuk Report 2024

Tayyab Ahmed

Head of Research, Islamic Finance, LSEG Data and Analytics
Tayyab Ahmed
Tayyab is Head of Research, Islamic Finance at LSEG Data & Analytics, leading the Islamic finance research team and overseeing the production of thought leadership reports on Islamic finance and MENA related topics.
Previously, Tayyab was a Senior Research Analyst at the London Stock Exchange Group (LSEG), where he helped produce various thought leadership and foresight reports as part of the Islamic finance research team, such as the annual OIC Megatrends, IFDI & Sukuk Reports.
Earlier in his career, he was an Associate Director of Strategy in Malaysia for Ernst & Young (EY) where he focused on government strategy, team and stakeholder management, and mentoring associates.
Tayyab received his MPhil from Cambridge, LLM from London School of Economics, and Islamic Finance Qualification (IFQ) from the Chartered Institute of Securities and Investments.
Panel - Innovative ISF products - Green & Sustainability Sukuk

Luma Saqqaf

Razvan Dumitrescu

Debashis Dey

Basheer Ahmad

Director – Middle East, Africa, Responsible Investment Ecosystems, PRI
Luma Saqqaf
Luma Saqqaf is the Director for the Middle East, Africa, and India at the UN Principles for Responsible Investment (UNPRI), where she leads initiatives to promote sustainable and responsible investment practices across these regions.
With over three decades of experience at the forefront of finance, Islamic finance, sustainability, entrepreneurship, and investment in the Middle East and North Africa (MENA) and Europe, Luma is a recognized thought leader in sustainable finance.
Prior to joining UNPRI, Luma was the CEO of Ajyal Sustainability Consulting, advising corporates, financial institutions, funds, and asset managers on sustainable finance and transition strategies.
Her work focused on creating a sustainable finance ecosystem in the MENA region through close collaboration with regulators, financial markets, and other stakeholders on sustainable finance initiatives and regulations, including the UAE Green and Sustainability-linked Bonds and Sukuk Regulations of 2023.
A former finance partner and global head of the Islamic Finance Group at Linklaters, Luma is a pioneer in the development of capital markets and groundbreaking financial transactions globally, particularly in Islamic finance.
She is a regular speaker on sustainability and Islamic sustainable finance topics and contributes to finance and sustainability sector publications.

Sustainable Finance Director, ENBD Capital
Razvan Dumitrescu
Razvan is currently working as Sustainable Finance Director at Emirates NBD Capital. Before that, he joined the EBRD via the flagship IPP programme and had the opportunity to work as part of various teams: Financial Strategy, LC2, Power & Energy (Istanbul) as well as the President’s Office.
In his previous LC2 Principal role, Razvan focused on promoting capital markets transactions and advisory projects across the Baltics, Central & South Eastern Europe, Greece and in Turkey. His key past contributions includes development of a wide range of conventional and Islamic compliant debt products, sustainable finance – including green bonds and ESG index – and corporate bond frameworks in Greece and Turkey.
He was also working on promoting a pan-Baltic capital market via Commercial Paper, a Capital Markets Development Accelerator Fund (CMDAF) and single regional index classification by MSCI, leads LC2’s strategic engagement with EU’s DG Reform and Bank’s support for the resolution of MPP accounts in CSEE as well as supporting capital markets access by commercially run SOEs.
Prior to joining the Bank, Razvan worked for Erste Group as part of the Project Finance team (CEE) and Deutsche Bank in Structured Asset Finance (Amsterdam). He holds an MSc degree in Finance & Investments from Rotterdam School of Management and is an alumnus of the Aspen Young Leaders Programme.

Partner, White & Case LLP
Debashis Dey
Debashis Dey is a partner at White & Case LLP, where he leads the firm’s Capital Markets Practice and serves as the Global Head of Islamic Finance, operating from both the UAE and London offices.
With over two decades of experience, Debashis is widely recognized as a leading finance and capital markets lawyer, assisting domestic and international clients in executing complex cross-border transactions.
His extensive track record includes advising investment banks, corporates, and governments on capital markets, securitization, and structured finance matters, including Islamic finance sukuk transactions, regulatory capital transactions, and the sale, acquisition, and securitization of non-performing loans.
Debashis is also frequently called upon to work with private equity firms, companies, and investment banks, especially in connection with complex international M&A and private equity transactions involving distressed real estate or non-performing assets.
Qualified in England and Wales, New York, British Columbia, and Ontario, Debashis has executed deals across jurisdictions in the GCC, Europe, the US, and Asia.
He is a sought-after speaker at client, media, and industry events and is a recognized expert on non-performing loan M&A, portfolio sales, and complex servicing transactions.

Senior Manager, Markets, Strategy & Risk, DFSA
Basheer Ahmad
Basheer Ahmad is the Senior Manager for Markets at the Dubai Financial Services Authority (DFSA), where he oversees primary market regulations and the DFSA Listing Authority. He is instrumental in developing Environmental, Social, and Governance (ESG) securities requirements and guidance.
With over two decades of experience in international capital market regulation, Basheer is a subject matter expert in Islamic finance, corporate governance, and ESG regulations. His expertise encompasses securities rules and regulations, policy formulation, listing rules, operating listing regimes, and market disclosures.
Prior to joining the DFSA in May 2008, Basheer held various roles at the Securities Commission Malaysia and the Attorney General’s Chambers of Malaysia. He holds a Barrister-at-Law qualification from Lincoln’s Inn, UK, and is a Chartered Islamic Finance professional.
Presentation - Islamic Finance and Renewable Energy

Tariq Al-Olaimy

, Islamic Finance Campaigner & Advisor to the Ummah for Earth Alliance with Greenpeace MENA
Tariq Al-Olaimy
Tariq Al-Olaimy is an Islamic finance campaigner and advisor to the Ummah for Earth Alliance with Greenpeace MENA. He holds advisory and board roles with entities such as the UN Decade on Ecosystem Restoration (UNEP & FAO), the UN Climate Change High-Level Champions’ Race to Resilience Campaign, the Global Shapers Community, 1t.org, and the EAT Forum—the leading science-based global platform for transforming food systems. Often working at the intersection of faith, finance, and sustainability, Tariq has co-founded several social enterprises, serves on faith based boards, and is an advisory board member of the World Economic Forum’s Faith in Action Report.
11:15 - 11:35 Break
Fireside - Towards Building Green Islamic Portfolios

Shereen Osman

Mohammed Dawood

Khurram Hilal

Director, PwC Middle East
Shereen Osman
Shereen Osman is Director, Assurance – Financial Services & Islamic Finance at PwC Middle East.
Shereen is an experienced Chartered Accountant with a demonstrated history of working in the accounting industry. Specialising in external audit, International Financial Reporting Standards (IFRS), assurance, auditing, and Basel III, Shereen is a strong accounting professional with a Bachelor of Business Science focused on Accounting and Finance from University of Cape Town.
Shereen has extensive experience in leading Banking and Capital market audits. She is also actively involved in driving the PwC Islamic Finance Division and has been instrumental in numerous Islamic initiatives and publications in both South Africa and the UAE.

Managing Director & MENAT Head of Islamic Finance, HSBC Middle East
Mohammed Dawood
Mohammed Dawood is the Global Head of Sukuk Financing at HSBC Bank Middle East Limited, where he leads the bank’s Islamic finance operations across the Middle East and North Africa. With over 15 years of experience in Islamic finance, Mohammed has been instrumental in structuring and executing numerous landmark sukuk transactions, contributing significantly to the development of the global Islamic capital markets.
Under his leadership, HSBC has maintained a leading position in sukuk issuance, managing a diverse range of deals for sovereigns, financial institutions, and corporates. Mohammed’s expertise encompasses debt capital markets, Islamic finance, and structured finance, enabling him to provide innovative financing solutions that align with Shariah principles.
Mohammed is a frequent speaker at international conferences and a recognized thought leader in Islamic finance. His insights have been featured in various industry publications, where he discusses trends and developments in the sukuk market and the broader Islamic finance industry.

CEO, Standard Chartered Saadiq
Khurram Hilal
Khurram Hilal is the Chief Executive Officer of Standard Chartered Saadiq, the bank’s global Islamic banking arm, where he leads the development of Shariah-compliant financial products and solutions across various regions. With extensive experience in retail, private banking, and financial markets, Khurram brings a wealth of expertise to his role. He holds a master’s degree, is a CFA charterholder, and is pursuing studies in Islamic jurisprudence, demonstrating a commitment to aligning finance with Shariah principles
Closing Keynote

Naveen Raza

Net Zero Transition and Partnerships, HSBC
Naveen Raza
Naveen is a banking professional with over 18 years of experience. Her early career started in Islamic Finance with HSBC Amanah, since then she has worked in various roles at HSBC in the UK and UAE including Private Banking & Wealth Management, Strategy & Planning, Streamlining & Process Excellence. She also has extensive experience in Project Managementand ESG. Recently Naveen was the Head of Sustainability & Financial Inclusion for Wealth & Personal Banking HSBC EMEA.
She is now looking after Net Zero Transition & Partnerships in the HSBC MENAT Sustainability Centre of Excellence which includes working on customer’s transitions plans as well as developing HSBC’s external sustainability and philanthropic partnerships.









