outstanding sukuk and takaful. singapore has had nearly 30 sukuk issuances to - date, with seven in 2013 alone. the prospects for islamic finance in singapore look bright. • more funds continue to be established here, to meet demand from clients in asia as well as from the middle east. • several corporations have established sukuk programmes in singapore to tap the market over the next few years. bis central bankers ’ speeches we can grow faster when we grow together. wibc asia provides a valuable platform to bring together stakeholders in islamic finance, from asia and the middle east, to foster stronger collaboration for sustained industry growth. i wish you fruitful discussions. thank you. bis central bankers ’ speeches

providers of verification, review and rating services. these service providers are key in ensuring that sustainability targets being set by corporates are material, and to verify that financing proceeds will indeed be channelled to green and sustainable activities. some of them have established singapore as their regional hub to support corporates across asia in building their sustainability capabilities. harnessing technology to enable trusted sustainable finance flows the third key thrust of our green finance action plan is to harness technology to enable trusted and [UNK] sustainable finance flows. fintech has transformed the delivery of financial services ; it can be a game - changer in sustainable finance too. we call it green fintech. we are beginning to see interesting examples. https : / / www. mas. gov. sg / news / speeches / 2020 / harnessing - the - power - of - finance - for - a - sustainable - future 9 / 13 14 / 10 / 2020 “ harnessing the power of finance for a sustainable future ” - keynote speech by mr ravi menon, managing director, mas, at the finan … temasek has partnered the university of oxford on a project that uses satellite technologies to analyse climate risks for assets in the utilities sector. jp morgan is applying artificial intelligence to trawl through non - financial data like patent filings to search for keywords for potential sustainable investments. this year ’ s global fintech innovation challenge organised by mas is seeking solutions to specific challenges faced by financial institutions with respect to sustainability and climate risks. the fintech innovation challenge, organised as part of the singapore fintech festival to be held this december, has received close to 600 submissions from more than 50 countries. some of the shortlisted solutions are really interesting : an online do - it - yourself platform for small and medium enterprises to assess their environmental impact easily and [UNK] ; an ai platform matching institutional investors with a range of social and environmental business opportunities ; and an api - based modelling engine that utilises existing climate - related data ( e. g. weather pattern predictions, sea level, etc. ) to facilitate investment decisions. building knowledge and capabilities in sustainable finance the fourth thrust of our action plan is to build knowledge and capabilities in sustainable finance. we are encouraging financial institutions in singapore to grow their sustainable finance teams here. global banks and asset managers like ing, standard chartered and aberdeen standard investments have dedicated asia - pacific sustainable finance teams based in singapore. deutsche bank has recently located its asia - pacific esg head in singapore ; fidelity global ’ s head of steward