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Milestones

The current international financial landscape is characterized by an ambitious reform agenda aiming to achieve sustainable global growth. These reforms incorporate policies that originate from religious backgrounds (faith-based economy) and civil society (impact investing): they promote ethics, social and environmental responsibility, principles of good governance (conscious capitalism), and advocate banking disintermediation (crowd-funding).

The Islamic finance proposition is an integral part of these policies. Studied, commented and monitored by supervisory authorities - such as the International Monetary Fund, the European Central Bank, the Bank of Italy, and Consob - is implemented, as a workable alternative to the endemic crises that shake conventional finance, by multilateral development banks such as the World Bank, UN agencies such as UNDP, and domestic development bodies such as USAID.

Based on real transactions and risk-sharing principles, Islamic finance only deals with those sectors of the economy that can actively contribute to a sound individual and societal development. Its understanding of the nature of money, its dislike of credit brokerage based on interest rate, its wealth redistribution approach and its inclusiveness of all faiths and races, make Islamic finance a modern and sensible proposition (read more here and here )

The long experience in Islamic finance (dating back to 1986) coupled with conventional (Merrill Lynch Bank) and ethical (European Commission) finance achievements, enables ASSAIF  to provide informed opinion and analysis with an intellectually inclusive approach and to structure products and instruments that join the implementation of the values advocated by the Islamic political economy to the techniques used by Islamic finance.

As such, ASSAIF focuses only on projects that are spiritually, socially, intellectually and economically beneficial to society at large, and has been instrumental in bringing Islamic finance to new markets and extending its range of activities to new areas.

Besides, ASSAIF  values and disseminates the culture of diversity and encourages the development in Western societies of new forms of governance that take into account the financial inclusion of the Muslim communities. This in full compliance with the existing regulations while, at the same time, satisfying their cultural requirements.

A sample of selected milestones is listed hereby.

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Piero della Francesca, ‘La città ideale’, Italy XVI century