Bank BSN Pushes for ASEAN Islamic Finance Integration to Support Sustainable Growth

Bangkok (ANTARA) – PT Bank Syariah Nasional (Bank BSN) has called for stronger integration of Islamic financial markets across ASEAN to expand financial inclusion and support sustainable economic growth.

Bank BSN Deputy President Director Arga M. Nugraha said cross-border collaboration is essential to strengthening the resilience of the Islamic finance industry amid global economic volatility.

“International dialogue and the exchange of ideas must continue. We need to sustain this momentum, particularly to help reduce fragmentation in ASEAN’s Islamic financial markets,” Arga said during an international forum titled Islamic Finance: From Crisis Resilience to Transition Finance in Bangkok, Thailand, on Wednesday (October 14, 2026).

The forum, held on the sidelines of the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group, was jointly organized by the Islamic Bank of Thailand (ibank) and the International Islamic Economics and Finance Conference for Sustainable Development (IFESDC).

The event brought together approximately 150 participants from ASEAN, Africa, and the Middle East to discuss the role of Islamic finance in strengthening economic resilience and supporting the transition toward sustainable development.

Arga emphasized the need for Islamic banks to adopt more profit-and-loss-sharing financing models, strengthen impact measurement, and expand cross-border cooperation.

He noted that greater integration and interoperability among Islamic financial markets would help broaden access to inclusive financial services for more than 250 million Muslims across ASEAN.

Bank BSN, he added, remains committed to participating in strategic international dialogues and collaborative initiatives aimed at strengthening the region's Islamic finance ecosystem.

Speaking at the same forum, Thailand's Sheikhul Islam Arun Boonchom highlighted that Islamic finance is rooted in the principles of Maqasid al-Shariah, which emphasize social justice, equality, transparent risk-sharing, and wealth management for the common good.

The panel discussion, moderated by IFESDC representative Murniati Mukhlisin, also featured Islamic Bank of Thailand President Thaweelap Rittapirom and INCEIF University President Mohd. Azmi Omar.

Panelists agreed that Islamic financial instruments, including sukuk and profit-and-loss-sharing arrangements based on musharakah and mudarabah, have significant potential to mobilize financing for renewable energy, sustainable infrastructure, and small and medium-sized enterprises (SMEs).

The forum also highlighted the importance of integrating Islamic social finance instruments, particularly zakat and waqf, into the broader financial system to strengthen social protection and support poverty alleviation.

Meanwhile, Islamic Development Bank (IsDB) Group Chairman Muhammad Sulaiman Al Jasser emphasized that the success of the Islamic finance industry should not be measured solely by asset growth, but also by its tangible contributions to public welfare and economic resilience.

As a follow-up to the forum, the Islamic Bank of Thailand will develop a set of policy recommendations known as the Bangkok Policy Note.

The recommendations will focus on strengthening institutional resilience, expanding financial inclusion, and improving the integration of ASEAN's Islamic finance ecosystem with global financial markets.

The initiative is expected to provide a policy framework for advancing Islamic transition finance and supporting more inclusive and sustainable economic growth.