Islamic Finance in Perspective of United Nations Sustainable Development Goals’ Workshop
This event was held at Istanbul Sehir University for both academics and students. Prof. Sensoy discussed a variety of topics related to the the UN Sustainable Development Goals (SDGs) and the private sector. He introduced the concept of ‘Responsible Investment’ and how the UN is furthering this through the UN PRI ‘Principles for Responsible Investment’ initative. He also highlighted the development in sustainability accounting and reporting by introducing organisations such as the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board, and practices such as sustainability reporting and integrated reporting. Following this, he defined the objectives of Islamic Law and how these link to the Sustainable Development Goals and the current trend towards ethical business practices. He also related this to finance, highlighting the compatibility of Islamic Finance to Sustainability Standards. Thus, he introduced the various Islamic organisations linking Islamic Finance with Responsible finance such as the Responsible Finance Institute Foundation that publishes the Islamic Finance ESG Report and provides insights into the commonalities between ESG & Islamic Finance investing.
Overall, the presentation was very useful and interesting for those with an interest in Ethical Finance and it’s relationship to Islamic Finance and the achievement of the SDGs.
More about the Speaker:
Necdet Şensoy graduated from Istanbul Academy of Economics and Commerce in 1977. He received his M.A. degree from the Institute of Accounting at the same Academy, and his Ph.D. degree from Marmara University. He became Associate Professor in 1994 and Professor in 2002. Having worked as a lecturer at Marmara University, Faculty of Economic and Administrative Sciences, Department of Business Administration, Prof. Dr. Necdet Sensoy was appointed as a Member of the Auditing Committee of the Central Bank of Turkey on 1st May 2004. Retired from Marmara University in year 2006 and appointed as Deputy Rector at Istanbul Commerce University. Later as end of the year, elected as Board Member by the “General Assembly of the Shareholders” of the Central Bank of the Republic of Turkey. His academic field is accounting and finance. Interest areas are International Financial Reporting Standards and Accounting Theory. He has taught Accounting Theory Course at PhD program of Marmara University for over twenty years. His interest in Islamic Finance started while he was teaching “Accounting for Islamic Banks” course for four semesters in between 1994 to 1996 at International Islamic University Malaysia. He has served as member of the Board of Trustees of AAOIFI in between years 1993 and 1997. In November 2014 he is reelected and his service continues. He was chairman of the Audit Committee of the International Islamic Liquidity Management Corporation ( IILM ) in between 2010 to 2017. His term as Board Member at Central Bank of the Republic of Turkey ended on April 30, 2018. He returned back to Business Faculty of Istanbul Commerce University. He is Director of the Research Center on Islamic Economics and Economic Systems in Istanbul Commerce University.
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