Is the global financial axis permanently shifting? At Abu Dhabi Finance Week (ADFW) 2025, decision-makers representing $62 trillion in assets—equivalent to over 50% of global GDP—gathered to answer that question.

Hosted within the high-growth ecosystem of ADGM, this exclusive series of interviews moves past the headlines to analyse how Abu Dhabi is officially "Engineering the Capital of Capital."

Join Majlis & Markets for a deep dive into private credit, geopolitics, and the future of institutional wealth.

Featured Global Experts:

• Ted Koenig (Chairman & CEO, Monroe Capital): Explains why Monroe Capital chose to establish a presence in ADGM and why he views the Middle East as the next hotspot for private credit activity and regional dynamics.
• Richard Banks (Soling Partners): A deep dive into the maturing private markets landscape in the region, the outlook for private credit both in the GCC and globally, and how the regional ecosystem is evolving.
• Zongyuan Zoe Liu (Council on Foreign Relations): Analyses the Chinese economy's growing relations with Gulf and MENA economies, providing a 2026 outlook for this critical geoeconomic corridor.

🔗 Follow Majlis & Markets for more insights on Islamic and Global Markets:

• YouTube: https://www.youtube.com/@MajlisMarketspod/videos
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Can a $6 trillion industry survive its own stagnation? In Episode 82 of Majlis & Markets, we confront the "elephant in the room": why Islamic finance is standing still despite massive global asset growth. We are joined by industry veteran Khalid Howladar to unpack why the sector remains stuck in "business as usual" and why technology, (specifically AI and digital assets) is the only path forward for the Ummah.

In this deep-dive conversation, we break down the controversy surrounding AAOIFI Sharia Standard 62, the structural limitations of traditional Sukuk, and the urgent need for a shift toward a truly asset-oriented economy.

What you’ll learn in this episode:

• The Innovation Gap: Why $6 trillion in assets doesn't equal industry success.
• Sharia 2.0 & AI: How technology can solve the governance crisis and democratize expert knowledge.
• The Future of Assets: A critical look at the role of Crypto and Gold in reclaiming the Ummah’s economic future.
• Investment Dynamics: Insights into the world of Venture Capital and the lessons learned from firms like Sequoia.

🔗 Resources Mentioned:
Sukuk Standards Document: https://acreditus.docsend.com/v/8vcxb/sukukstandards

Deep Dive on Sukuk Credit Ratings: https://www.linkedin.com/posts/khalidhowladar_sukuk-credit-ratings-activity-7398971887407575041-JFFa/?utm_source=share&utm_medium=member_android&rcm=ACoAAAAFZMoB5RmqEhJNfCrLeK9AeUCobjuvkLM

🤝 Connect with Khalid Howladar:
LinkedIn: https://www.linkedin.com/in/khalidhowladar/
X (Twitter): https://x.com/khalidhowladar

📺 Watch & Listen More:
The Sequoia & VC Episode: https://www.youtube.com/watch?v=2WjPn7UeeTQ

Previous Khalid Howladar Interview: https://majlisandmarkets.buzzsprout.com/1907033/episodes/15162664-episode-22-redefining-islamic-finance-the-tech-disruption

📱 Connect with Majlis & Markets:
🔗 YouTube: https://www.youtube.com/@MajlisMarketspod
🔗 LinkedIn: https://www.linkedin.com/company/majlis-and-markets/
🔗 X (Twitter): https://x.com/MajlisMarkets
🔗 Instagram: https://www.instagram.com/majlismarkets/
🔗 TikTok: https://www.tiktok.com/@majlis.markets

⚠️ Disclaimer: The views and opinions expressed in this episode are for informational purposes only and do not constitute financial or investment advice. Viewers and listeners are encouraged to do their own research or seek professional advice before making any financial decisions.

Pakistan is moving towards an interest-free Islamic financial system, but can Islamic finance really fix economic challenges or are public expectations misplaced?

In Episode 81 of Majlis & Markets, Farrukh Raza from IFAAS explains why Islamic finance is not designed to create jobs overnight, how liquidity surpluses and sovereign debt complicate reform, and why this transition is ultimately about aligning Pakistan’s financial system with its Constitution, the Qur’an, and the Sunnah.

We explore the ethical foundations of Islamic finance, the risks of misunderstanding its role and what success should realistically look like as Pakistan moves toward an Islamic economy.

This episode builds on an article from April 2025 on the challenges facing Pakistan’s interest-free banking push:
👉 https://salaamgateway.com/story/pakistans-push-for-an-interest-free-banking-system-faces-challenges

Topics covered

• Islamic finance and Pakistan’s economy
• Interest-free banking in practice
• Job creation myths and public expectations
• Liquidity and sovereign debt challenges
• Constitutional principles, Qur’an and Sunnah
• Ethics, transparency, and trust

Follow Majlis & Markets
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Islamic finance is now a multi-trillion-dollar global industry. But has it drifted away from what it was originally designed to achieve?

In Episode 80 of Majlis & Markets, Hassan Jivraj is joined by Harris Irfan, CEO and Co-founder of Cordoba Capital Markets, to examine why Islamic finance struggles to reform and why meaningful change remains so difficult. The conversation questions whether blind support for an established industry has created unhealthy, asymmetric financial relationships, and whether a more ethical, partnership-based alternative can realistically emerge.

We discuss the purpose and limits of Islamic finance standards, the role of regulation and enforceability, and why investors may increasingly seek alternative financial models that better align with ethical investment principles. The episode also explores Bitcoin, crypto, digital currencies, and whether the future of finance will move towards healthier economic relationships for borrowers, lenders, and society more broadly.

This is a conversation about markets, incentives, and systems, not outrage. It asks whether Islamic finance can still deliver on its promise, or whether new models will ultimately replace it.

Topics covered

• The current state of Islamic finance
• Why reform has stalled
• Partnership-based finance vs asymmetric relationships
• Ethical investment and economic health
• AAOIFI standards and enforceability
• Bitcoin, crypto, and alternative finance
• The future of Islamic finance in the UK

Guest

Harris Irfan
CEO and Co-Founder, Cordoba Capital Markets
🌐 https://ccmkts.com/
🐦 https://x.com/harris_irfan

Related episodes

🎙️ Halal or Hype? Demystifying Islamic Finance (Episode 7)
https://majlisandmarkets.buzzsprout.com/1907033/episodes/14625977-episode-7-halal-or-hype-demystifying-islamic-finance

🎙️ Setting the Standard: AAOIFI’s Impact on Islamic Finance (Episode 49)
https://majlisandmarkets.buzzsprout.com/1907033/episodes/16355515-episode-49-setting-the-standard-aaoifi-s-impact-on-islamic-finance

Follow Majlis & Markets

🎥 YouTube: https://www.youtube.com/@MajlisMarketspod

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Sequoia Capital, Islamophobia, and the limits of Muslim capital in global markets.

In this episode of Majlis & Markets, we examine the controversy surrounding Sequoia Capital following public comments by Shaun Maguire, the firm’s response, and what this episode reveals about power, free speech, and discrimination in venture capital.

FT article from October 2025 [https://www.ft.com/content/8e6de299-3eb6-4ba9-8037-266c55c02170]

But this conversation goes well beyond one firm or one incident.

We discuss how investment strategies can contradict public statements, why freedom of speech carries different consequences in public versus private settings, and how rhetoric and culture can shape access to capital in global markets.

The episode also explores the role of Muslim investors in global entrepreneurship, why their economic importance often fails to translate into influence, and why venture capital ecosystems continue to struggle across much of the Muslim world. From Silicon Valley to Islamic finance, we look at how capital, politics, and culture increasingly intersect.

We also discuss Zohran Mamdani’s political rise, what it signals about disruption and representation, and why debates about inclusion are no longer separable from markets and power.

🔍 Key themes

• Sequoia Capital and venture capital governance
• Islamophobia and culture in Silicon Valley
• Public speech, power and consequences
• Muslim capital and global entrepreneurship
• Discrimination, incentives and access to finance
• Political disruption and Zohran Mamdani
• Why VC ecosystems struggle in Muslim markets

If you’re interested in venture capital across Muslim and OIC markets, listen to this earlier Majlis & Markets conversation:

🎙️ Episode 16 | Venturing Forward: Unlocking the OIC’s Venture Capital Potential

🔊 https://majlisandmarkets.buzzsprout.com/1907033/episodes/14955988-episode-16-venturing-forward-unlocking-the-oic-s-venture-capital-potential

🎧 Listen & follow

🔊 RSS: https://majlisandmarkets.buzzsprout.com/

🎥 YouTube: https://www.youtube.com/@MajlisMarketspod

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#Sequoia #VentureCapital #MuslimCapital #Islamophobia #GlobalMarkets #IslamicFinance #FreeSpeech #Entrepreneurship #SiliconValley #MajlisAndMarkets

Is Iraq’s economy truly progressing or is new pressure starting to build?

In this episode, economist and strategist Ahmed Maan Tabaqchali breaks down the real state of Iraq’s economy, covering stability since 2019, the Iraqi dinar, de-dollarisation, banking sector challenges, fintech adoption, digital payments, tokenisation, the Iraq Stock Exchange and Iraq’s post-election outlook following the 11 November 2025 parliamentary vote.

As Chief Strategist of Asia Frontier Capital’s Iraq Fund, Ahmed offers a clear and data-driven view of what has improved and what still needs reform for Iraq to achieve sustained, broad-based growth.

Key Topics
• Iraq’s stability and growth indicators
• Banking sector bottlenecks and trust deficits
• Fintech expansion and digital payments
• Blockchain and tokenisation in Iraq
• Opportunities across the Iraq Stock Exchange
• The Iraqi dinar, dollar access and US oversight
• De-dollarisation trends and economic priorities for 2026

About Ahmed

LinkedIn: https://www.linkedin.com/in/ahmedtabaqchali/
Profile: https://auis.edu.krd/iris/iris-fellow/ahmed-tabaqchali
Asia Frontier Capital: https://www.asiafrontiercapital.com/

More Majlis & Markets episodes on Iraq

Ep 4 Navigating Iraq’s Emerging Tech Ecosystem
https://majlisandmarkets.buzzsprout.com/1907033/episodes/14213929-episode-4-navigating-iraq-s-emerging-tech-ecosystem

Ep 10 Accelerating Iraq’s Startup Revolution
https://majlisandmarkets.buzzsprout.com/1907033/episodes/14750565-episode-10-accelerating-iraq-s-startup-revolution

Ep 24 Bricks and Bytes: Iraq’s Real Estate Tech Boom
https://majlisandmarkets.buzzsprout.com/1907033/episodes/15264026-episode-24-bricks-and-bytes-iraq-s-real-estate-tech-boom

Ep 38 Venture Into Iraq: Start-Ups on the Rise
https://majlisandmarkets.buzzsprout.com/1907033/episodes/15817011-episode-38-venture-into-iraq-start-ups-on-the-rise

Follow Majlis & Markets
YouTube: https://www.youtube.com/@MajlisMarketspod

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In this episode, we sit down with Dr Lisa Gulesserian and John Gollifer from the GCC Board Directors Institute (GCC BDI) to discuss how governance, board effectiveness and investor relations are developing across the GCC.

We explore key regional differences in board maturity, the role of IR as Gulf markets deepen, and the challenges boards face around composition, diversity, succession and disclosure.

This discussion offers a clear, research-based view of the issues shaping boardrooms across the region today.

Referenced Material:
GCC BDI Board Effectiveness Review 2025: https://gccbdi.org/gcc-bdi-board-effectiveness-review-2025

GCC Board Directors Institute: https://gccbdi.org

Follow Majlis & Markets:
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Why is Dubai still booming while global real estate slows? And is Saudi Arabia’s transformation—from home ownership to hospitality—actually sustainable?

In this episode, we speak once again with Faisal Durrani, Partner & Head of Research at Knight Frank Middle East, to unpack what’s really driving the Gulf’s property cycle.

We discuss affordability, foreign ownership, migration trends, rental pressures, hospitality demand, and the rise of Abu Dhabi and Ras Al Khaimah.

Reports mentioned:
Destination Saudi 2024 – https://www.knightfrank.com.sa/en/destinationsaudi

The Saudi Report 2025 – https://www.knightfrank.com.sa/en/thesaudireport

Destination Dubai 2025 – https://www.knightfrank.ae/destinationdubai

Related reading:
Financial Times – “The lingering wealth gap in Saudi Arabia”
http://www.ft.com/cms/23ac98f8-c65f-4c44-992f-e3e1182fddbd.html?FTCamp=engage/CAPI/website/Channel_muckrack//B2B

Previous episode with Faisal:
EP. 32 — UAE & Saudi Real Estate Insights
https://majlisandmarkets.buzzsprout.com/1907033/episodes/15612124-episode-32-building-trends-uae-saudi-real-estate-insights

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