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And the programme requires some full time continuous enrollment and consists of approximately 2 years of class works of perceptions of the PhD visits these programmes and blue is a multidisciplinary approach to accept end it the main area is move department of Islamic banking spell increase department increase at our faculty are to collaborate with other instructors who are actively engaged and research in Islamic band and study business and finance as well as with postcard with students that not only about this off the summit finals but also about just search and research that still to drive the field now *** has add to introduce our guest speaker and is Mr thank you stop and I please don't reduce you don't speak he is the strikethrough general of the accounting another thing organisation for the summit finance which is very well known biography where he is probably responsible for leading the process of development of accounting auditing governments and I hope he actually is one of the most important institution in the world of summit finance because it is responsible for protecting that dignity of stomach finance so far I don't really have issue in 100 or 114 sandras which are used by more than 48 regulation more than 35 countries I said I'm sorry with eating Alfie at previous least word as a partner at aevi is a chart with accountant by profession Islamic finance accountancy bears an I'm sorry he brings with himself wealth of knowledge experience and size and as such we look forward to reading from him about this on the topic of sustainability serving finance so Mr may takeover now thank you doctor in the sodden thank you brother doctor marks lovely card happy shortly said these were yesterday I'm being prompted the committee sign yet it's indeed a pleasure for me to be here at this very important I think you missed traffic in finance and the B this centre is working for the for the development of sources by H eating youth for slamming finance it is actually commendable some of your students are working with us to have been working with us and we highly appreciate the quality of source and elected that the ust and the school of stop banking finance eventually producing that is highly appreciated and we actually are working with the university and inside exit to sign the demo you as well with the car through further areas of collaboration in sha lightning powered word that that I would like to thank you again for the 4th opportunityof sharing some sports and some of the work that you have done in the area of sounding finance and sustainability and I would like to and share my presentation now I hope I'm allowed to shoot it Xbox So what I'm going to discuss today as it is some of the understanding aspects with sustainability and related topics like like TLC and CSR and I would like to touch up align with the monster Shadia and how he has addressed some of these issues in some of its existing standards and how we plan to address about things in the upcoming standards and chance is there with it got shaft stiffness positive element so first let me touch upon a little bit about the conventional views on sustainability I think I think somebody last everybody keep their mind or guess would you please mute yourself so we can continue the word speaker please mute yourself the sound like please left thank you so let's cancel okay let me first mention one thing like in the West right now we are discussing things from the conventional side so in the best there is the same honesty is the best policy but for us honesty is not the best policy it's actually it is part forfeit so the same thing applies to the sustainability part as well will be while we go through and discuss the concept of sustainability and the product marks Epsom dsr et cetera et cetera and she stop will find a lot of areas where the lessons that are learned by the Westmoreland by the conventional actually were learned by us nearly 4050 years back actually those are the things that we have learnt from our tea change long time but the problem is that at times we fall get what we have available from our feet covered our four teachings of our religion and we're inspired more by what is coming from but at the same time whatever good is coming from the West whatever good is coming from the conventional side we should learn from and we should we should get it wisdom is like you know last inheritance for us or wherever find it we need to get in so how is it degraded the sustainability is integrated with ease as GP that is that is the environment sustainability and governance we need to identify that there are diff aspects we are going to touch upon these aspects separately the in from ikes act and the social aspects and the environment aspect these aspects have overlapping areas which are being evaluated and the eventual integration of these economic social and environment they actually take you towards the sustainable now what is expected from sustainability is actually having a system which entry provides sustainable sustainable limply word sustainable economy sustainable systems sustainable institutions sustainable environment and eventually a sustainable world which is there for that time to come which is therefore a word next generation to takeover and we leave the world in a position which is good enough for our next generation so that is the idea of having sustainability at for that aspect we need to consider technomic party consider social power we need to consider the end bar they they think we're going to discuss it detail going forward some of them will be quite detailed but again towards the end we can have more question and answer session as well towards the end so no the question is how sustainability benefits finance again clear right now considering things from the conventional perspective you're not coming to this to the summit perspective as yet but we need to understand that sustainability ensures long term benefits versus short term profit data so for example we all must have heard the story of the of the golden eggs laid boots so there was a goose that used to laying golden axe and somebody thought that let's let's cut it let's cut into pieces then try to get all the eggs at the same time and the person last everything because after that there were no Gordon exit more so this is the same situation that at times for the short term profit making we destroy the environment we destroy the social segments we destroy the economy we destroy the common man had because we want to have short term profits yes everybody wants to have promised and particularly for people like us who believe in the life hereafter have to have to consider this thing in the broader concept while anybody who doesn't believe in the life hereafter may think of okay this is my short life span whatever I can get to get out of it I want to get out but even the conventional world including those who do not believe in life thereafter have now started thinking in the broader perspective they believe that sustainability ensures long term benefits through the society to the organisations and to the to the countries and economies et cetera S compared to short term profit taking So what are the long term benefits of of sustainability that we want to achieve or like what needs to be achieved through through working towards ensuring sustainability in the long run this is particularly with respect to finance as a whole end it applies to normal commercial entities significantly as well so first part is cost cutting and efficiency creating a sustainable business can deliver significant cost savings and efficiencies for example using his resources such as carbon and water will have a direct impact on costs risk mitigation environmental and social risk can also be material financial risk in evermore complicated and disconnect interconnected word and integrated approach to risk management is essential new competitive and revenue opportunities up there by applying an integrated approach respectively from business planning creating new sources of revenue innovation that is a very important part that doctor integrated thinking that helps finance teams to force renovation by updating their business models technology and processes improved employee development and retention valuing social and human capital teams people making making sure that environmental hazards are not there for them boys about the lesser than issues are not there for the common man around there around the locations of the industry this ensures employed it data protection and on a broader basis add fungus from that stakeholder relationships how delete first is design according to sustainability topics not stick it over also sustainability has different aspects environmental aspects that the society aspects the employee S Max the there are so many different aspects on that which so it has to be done on a topic but profit basis so there's probably need to be divided on that then then then the sustainability team needs to have decision rights which cube change that is needed then the structure structure that needs best fits need to be followed that should be implemented on the whole organisation and the design and government governance should be prioritised that other than morning line because the most important part is processes and governance reporting line or or that the lip services is not that great to have the solution on the to the processes and governance to be changed no considering the whole process how these things need to be implemented into enacting organisational setup you need to identify that you need to measure the issues then reviewed the type add of the same then you need to create sustainability reporting feedback needs to be obtained from stakeholders and then they should hold back so it should be an ongoing continuous cycle which is an integrated cycle of ongoing improvement on the sustainability points and sustainability reporting should be made an integral part of the organisational scratch that policies just to touch up on Anna new concepts of reporting that are coming in the new clips of reporting along with the financial statements are coming in which include two main airport reporting formats one is the integrated report format and the second is sustainability report format and you might have seen their dressed in ability reporting and export it has become a point of common practise different parts of the world now some of the regulators have made it middle part of the part of the end word reports for additional reporting by all competitions particularly the listed organisations so that integrated report the airport in the financial capital how the value is created overtime department so it is actually focusing on the value created and the value creation again value increase the monetary value as well as the overall value that is you get with the society as well so all value the even the purpose of having integrated report beyond having the financial statements is that financial statements may not have all the things in all the all things cannot be numbers there so actually financial integrated reports ensures that found the net is stop seashell which includes of management overview governance business model Preston opportunity's strategies that social location performance outlook at this dictation application the sustainability report is more focused towards and it is broader social and environmental impacts strategies in and which ensures that economic environmental social and components aspects are covered and then a good practise we practise being attacked by different documentations around the Internet most recent developments are that even international financial product standards foundation I responded ship that development diversity managing putting standards as also is developed by end a sustainability reporting for an the integrated reports appointed port there is a there is already a value based reporting mode create working towards these are some of the good practise is coming from from the conventional side that we as Islamic financial institutions Eric as well as our our countries hourly not coming to a very important aspect again this is a very detailed as went out like to cover it in a short short leg relation but this important before and this means that that dental constitutionally how are linked to sustainability and now for the sustainability the most important document that is all the most important parameters that have been defined are by the United nations the 17 sustainable development goals last now and there are 17 sdgs and actually around the no the focus is now aligning investigated yet for students in quotes so let's quickly have a look first at what those 17 goals are so no poverty O hunger good health and wealthy quality education gender equality clean water Nets application affordable entry energy decent work any comic book industry innovation infrastructure reduced lending sustainable service cities and communities responsible consumption and production climate action life below water life on land peace and justice strong institutions and partnerships to achieve the books so these are the main 17 sdgs official globally are now being acknowledged as a as the mean para metres of systemically no this document this slide which is based on a document by alignment that these with cosmos in the muscle to Shariah some of these models have defined more more more only the most assets have been defying at as music please I'm having a sound from the back and can we have it please thank you so so we have mainly 5 that is that is the simplest guardianship guarding 3 in feet safeguarding intellect safeguarding progeny OR and symphonic earning well these are the five basic or most common but then they are divided into further but there additional categories and actually some of some of the scholars have painted quote that but the most common ones that are coming from and the same so but most common chat me so these are the five again there are some identified with some other scholars but most commonly referred means fine so here it is align that if you see that each one of the sdgs each one of the sdgs is aligned in one or another manner and in different different extent like for example no poverty is impacting impacting wealth as well lie under helpline for Janine black each each one of the sdgs has alignment with compassion some of them may have more alignment again this slide is very serious summary of retail document you can find further details as to how each one of them become relevant or edge one of them become more relevant to the guard which of the passage for that there is no debate some other peoples are already from that yeah so the idea here is to align makasih built sdgs and again we reached the same conclusion that we were discussing already there most of the sdgs are aligned with one or more effectively more than one I would say more than one mccosh so considering that we can say that whatever is generally considered to be sustainable is generally considered to be initially tradition intuition tradition English and yes start to make me go in detail of some of the because's because those are rented from the conventional mindset so with regard to some of them like for example gender equality and others at times we can see that something is coming from the conventional mindset which might not be 100% acceptable to us close but there is no issue with that but how they have defined those goals there are some minor issues function there perspective again request and request and it is word discovered we should take it would be but we should take it with the word of caution we need to take it more we need we cannot take it as so here we have done in next an exercise to other papers not not these are few examples I do not want to go in all the details over that part but applied in the business spectrum of houses are applied in the spectrum particularly the Sonic minus the piece knew upcoming slides the tactic progress of your office of human in making and making so as of now these are put on minors but we can we can say that these have some very good very good references to the chronic test some of the key for passes and all we have identified the illustrative dimensions of the past so for example is not accomplish not replicating the whole document that very important life lines for example it is absolutely yeah symbolic of life so for them from the perspective of life some of the illustrative dimensions include right to information freedom of association avoiding harm one bold cell using one's own hand writes that dependence so here you can find out that have identified the references to the police carefully stacks with wherever applicable with regard each one of these illustrative dimensions and these illustrative dimensions and these are projects which actually need to be applied by serving financial institutions and all that in the application so we can we can we can have we can have some of the examples here like for example right with formation that is not one of us jeans it is coming from these so we need to understand that that the right to have on having the right information is important similarly avoiding avoiding harming one's own self using one's own hands and do not put yourself into destruction by yourself right to enforce self independence and when the proxies that then one size overlap is over the land it's the land please will that be so that you may be successful and even said that I make a third with two partners as long as one of them does not cheap the earth at on the feet side we have a game for the hole for the airport the halal goods and services the right stipulations situational been staying I want to get my son yeah the car is sustainability that out as how it needs to be able about the sequel of the stakeholder the stakeholders stakeholders shrink holders right holders just just just just just just gestures gestures just to show me excellent index examination align cable ties altering seeing and end success that ain't by bold modesty looked after their trust moments who you could believe do not betray the trust of our life the messenger and do not betray your trust let's take some other examples promoting what is right and formatting what is wrong there has to be a group of people from the fear that followed and forbidden forbidden Ann Ann Ann Ann Ann and give the mission and we can full let do not make people short of your thing then allies scenery pisces is the hand of men to protect life I there is no partition on earth substance is not undertaken by causing permanent replace everything isn't clear in actually at work he is pleased for Maltese in it the hard way ring of it and pushing its portion is in four days equal photos cooperation for all good deeds reqd help each other in practise do not help you not helping also that's what provision of quality education and whoever takes that knowledge and development and development technical advancement be made liable for him pyren and commanding me calculate the leg spot work order practise test deep eyes of what and I had an island in which there is from power in the benefit of people so add these are a few examples with regard to parental act I would say even raising the and and and God knows better knows better knows better best the best the ones who won the Xbox will pass the people having their audit of the reminder if you do not know so these are a few examples on the Internet part of the progeny part see comparison upcoming generations protecting the best house hey it's not extra bigger that is not right besides multiplicity of offspring so so many aspects are there here with regards to the progeny as such amounts of very important aspects now bat out fulfilment of basic needs if anyone really subscript believe are from one of the hardships fairly light really easy easy easy easy within finding it difficult to difficult to difficult to repair a lovely day and love it make it easier for me the property is what type of learning is best I was asking everybody add every transaction which is free from cheating on reception and if the final hour comes while ever shoot a flower plant in your hand it's possible to plan it for the outcomes should planted eliminate excessive tasked the profit would not pay for our each person will sentence you only get old did not for you I said I'll be I'll be there it's wrong but just pricing no one and no one with bold goods in the price that with the price rising but a Sinner just returned to the Clipper tylers phone we share something to receive from people take it in full and when they measure or base something to give it to them if less than you a credible distribution of wealth and be steadfast in celebrities and those who put down battle hoarding of belt what what what what what day is held as I call around their neck happens in align adopting moderation or you who believed to not hold as unlawful the good things that allowed without from you it would not last press various artist does not like the transgressors condemnationof monasticism and materialism who you believe do not hold as unlawful the proteins as a sorry and see the betterment of the ultimate advert with alcohol is given to you and do not neglect your share from this world and do good work as alive did go to you and do not seek to make this leap the left surely alert is not like the Mr maker included you're not we haven't we have allocated among them dividing brothers in relics rice rice rice soup soup soup is that some of them may put some others to work at the mercy Lord is much better than what dictate there are lot of aspects in the purpose of today's that discussion obviously in a limited time cannot go through all of them but we can see the probable provision of impermissible things for vision of after probably strong establishment backing and publication of Hong measuring and being so there is a long list of those issues which are addressed in maccas add again the document that we have done and as it might not coverall of the things but to be honest some of the most important things are sure sure sure it needs further add we believe we believe that leave that leave that deep that deep that as a whole bosses are align majestic isn't a Conservatory traditions not coming to what you fee has done and before that I underline did not I have two examples on a lighter note okay sometime back when before we joining it go fi I was working as a partner ahead of the summit finance interest in your new Pakistan at that point of time we had to at that one to try me adult adult adult I would say that I set up by central bank to visit the taxation authorities for the purpose of the hope is off discussing the next level play mean that tax issues of stop my health institutions dictate other he said yes and he said we said we wanted people to people I don't I don't I don't I don't know that row so that now it now it's like now it's like A to Leica to Leica 22222 but it has important message messages the point is that things in the world are interconnected so you cannot you cannot alone you need to you need to integrate with alone so the same thing applies with sustainability and the same thing applies to the customers love lies to the lies to the clients to the clients will general community right unless its customers from slamming finance cannot grow unless the employee grows the point is is very crucial for example we have Islamic financial institutions they have their customers in this difficult go bit time or any other difficult time if Islamic finance does not remain so to remain sustainable stadium in sustaining in sustainable insertion pursue commercial person comercial for Starship perspective but remain proper name proper name from property property the car damage I should have mixed it have mixed in half minutes and half minutes that have mixed in half minutes that had mixed and half minutes then having mixed in half minutes and half minutes and half minutes **** **** maximises Maxine easier Tunisia vaccinated shut up sort of not maybe maybe 90% of the population or 100% of that delete population but still they may not pay at time are still subject to risk why because there are there are more than 50% population of the of the world which is still not vaccinated and don't have the numbers right now with me but maybe more than for sure more than 50% in the boy country not afford to purchase and even they cannot have a system of governing this vaccination means that for sure those countries will be able to talk to time but at the same time what will happen that they may carry the virus and even the virus will become frightened a striker we have the only health I didn't hear sport just out about your side I love it I love it I love it I love it I love it go very very very I love you I love you at word is this word is this is this world is instructed world is intent you you you you can you can to me itself selfish but talk English English English English English additional discretionary responsibility possibly possibility is what is not meant a tree but it is still work is needed so we have we have to see double standard the computer the sponsorship sorted which covers maximum aspects of the standardised standard co located

I want to summarize