In Celebration of the Birth Centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman and the Golden Jubliee of the Independence of Bangladesh

Until Conference Start

Time Remaining




Global warming and environmental degradation is considered the most significant barrier to sustainable development. An estimate by the London School of Economics suggests about USD 2.5 trillion of value at risk (VaR) for financial assets at the global level due to the widespread adverse impacts of climate change (Dietz et al., 2016). On the other hand, The Economist estimates that a total of around USD 4.2 trillion of global financial asset could be at risk due to climate-related exposures (EIU, 2015). The risks for financial institutions related to finance and investment can be classified in six categories: physical, secondary, policy, liability, transitional, and reputational (Ernst and Young, 2016). Financial institutions (FIs) are particularly the best candidate to divert finances towards the SDGs; it is because they hold immense power over financial and investment decision-making processes of economic agents. If financial institutions in developing countries like Bangladesh can be appropriately linked to the national sustainable development frameworks and progresses, the expanding funding gap could be substantially narrowed. However, it requires major innovation in the current financial architecture, products and services, business models, and the regulatory frameworks.
Across the world, Bangladesh is considered a key and natural victim of climate change and environmental degradation, where lives and economic activities are under substantial threat. The threat to lives and businesses could generate substantial adverse impacts for the financial markets and institutions, if they do not consider sustainability into their operation. Furthermore, the financial markets and institutions have another vital role to play, i.e., fulfilling the huge funding gap faced by developing countries like Bangladesh in achieving sustainability goals (Corfee‐Morlo et al., 2009; ECOSOC Chamber, 2018; Barua, 2020). Financial institutions and markets, as the core agent for fund mobilization in the economy, need to play a pro-active role right now to ensure a sustainable future for Bangladesh. In addition, the financial regulations need to upgrade by incorporating sustainability considerations to facilitate the role of financial markets and institutions.


Through ICSFI 2021, Bangladesh Institute of Capital Market (BICM) aims to raise the concepts and significance of making financial products, services, processes, and institutions sustainability-oriented, with a particular relevance to Bangladesh. The conference will bring together academics, market stakeholders, and regulators to develop ideas and an action plan for gradually introducing new sustainable financing and investment solutions and transforming the traditional ones.


All sessions of ICSFI 2021 will take place virtually on Zoom platform and will be live telecast on social media through BICM Facebook Page and YouTube channel.

Invited Speakers

H. E. Robert Chatterton Dickson

Honorable British High Commissioner to Bangladesh

Professor Shibli Rubayat-Ul Islam

Chairman, Bangladesh Securities and Exchange Commission (BSEC)

Dr. Atiur Rahman

Former Governor, Bangladesh Bank

Sean Kidney

Co-Founder and CEO, Climate Bonds Initiative

Frank Rijsberman PhD

Director General, Global Green Growth Institute

Mafiz Uddin Ahmed

Additional Secretary, Financial Institutions Division, Ministry of Finance, Government of Bangladesh

Dr. Muhammad Abdul Moyeen

Dean, Faculty of Business Studies, University of Dhaka

Shirajun Noor Chowdhury

Joint Secretary, Financial Institutions Division, Ministry of Finance, Government of Bangladesh

Dr. Nahid Hossain

Joint Secretary, Financial Institutions Division, Ministry of Finance, Government of Bangladesh

Ricco Zhang

Senior Director, Asia Pacific, International Capital Market Association

Lasse Ringius

Director and Head of Green Investment Services, Global Green Growth Institute

Professor Dr. Moorad Choudhry,

Independent Non-Executive Director, Recognise Bank, the UK

Galina Alova

DPhil Candidate, University of Oxford and Former Economist, OECD

Khondkar Morshed Millat

General Manager, Sustainable Finance Department, Bangladesh Bank

Dr. Saleemul Huq

Director, International Centre for Climate Change and Development (ICCCAD) and a Lead Author of IPCC Climate Report

Dr. Sisira Colombage

Associate Professor, Finance and Discipline Head, Accounting & Finance, Federation University Australia

Dr. Micol Alexandria Chiesa

Consultant, Bain & Company, Italy and Lecturer in Circular Economy, University of Oxford

Sergio Henrique Collaco de Carvalho

Head of Sustainability, Planet First Partners

Fenella Aouane

Deputy Director and Head of Carbon Pricing Global Practice, Global Green Growth Institute

Prof. Dr. Mizan R. Khan

Deputy Director, ICCCAD and Programme Director, LUCCC

A.K.M. Mamunur Rashid

Climate Change Specialist, United Nations Development Programme - Bangladesh

Ashik Chowdhury, CFA

Country Sustainable Finance Lead, Wholesale Banking, HSBC

Dr. Madurika Nanayakkara

Senior Lecturer, Faculty of Commerce and Management Studies, University of Kelaniya

Keynote Presenters

Dr. Mahmuda Akter

Executive President, BICM and Professor, Department of Accounting & Information Systems, University of Dhaka

Dr. Christophe Faugère

Professor of Finance and Economics, and Director SeeFar (Shift for Ecology, Economics, Finance and Accounting Research) Center, Kedge Business School

Ben McEwen

Climate Change Investment Analyst at Sarasin & Partners LLP, UK

Dr. Afifa Raihana

Senior Environmental Specialist, International Finance Corporation, the World Bank Group

Wajid Hasan Shah

Director (Studies), Bangladesh Institute of Capital Market

Dr. Suborna Barua

Associate Professor of Finance, University of Dhaka, and Research Fellow (part-time), Bangladesh Institute of Capital Market

Sifullah Khaled

Doctoral Candidate, Glasgow Caledonian University, and Assistant Professor, Bangladesh Institute of Capital Market

Sagira Sultana Provaty

Lecturer, Bangladesh Institute of Capital Market

Session Chairs

Dr. M Sadiqul Islam

Professor, Department of Finance, University of Dhaka

Dr. Mahfuzul Huq

Professor,  Department of Accounting & Information Systems, University of Dhaka

Dr. Firdouse Naher

Professor, Department of Economics, University of Dhaka


Professor Dr. Toufiq Ahmed Chowdhury

Director General, Bangladesh Academy for Securities Markets

Dr. Melita Mehjabeen

Associate Professor, Institute of Business Administration, University of Dhaka

Dr. Suborna Barua

 Associate Professor, Department of International Business, University of Dhaka

Conference Schedule

  • Day 1 Tuesday - April 06, 2021
  • Day 2 Wednesday - April 07, 2021
10.00 AM
5.45 PM

Day 1: 6 April 2021

Session Agenda Keynote speaker Panelists Time
1.1 Inauguration Chief Guest: Professor Shibli Rubayat-Ul Islam 10 – 11.00 AM
Guest of Honor: Professor Dr. Atiur Rahman
Special Guest: Frank Rijsberman PhD
Special Guest:  Mafiz Uddin Ahmed
Special Guest: Professor Dr. Muhammad Abdul Moyeen
Session Chair: Professor Dr. Mahmuda Akter
1.2 Sustainable and Climate Finance: An overview' Sifullah Khaled Dr. Nahid Hossain 11.15 AM – 12.45 PM
Professor Dr. Mizan Khan
Chair: Professor Dr. Sadiqul Islam
1.3 Sustainable finance and investment: The problem and the solution Professor Dr. Christophe Faugere Professor Dr. Atiur Rahman 2.30 – 4 PM
Galina Alova
Lasse Ringius
Chair: Professor Dr. Toufiq Ahmed Chowdhury
1.4 Sustainable finance and investment: Global cases Ben McEwen Dr. Micol Alexandria Chiesa 4.15 – 5.45 PM
Professor Dr. Saleemul Huq
Fenella Aouane
Chair: Dr. Melita Mehjabeen
10:00 AM
05:00 PM

Day 2: 7 April 2021

Session Agenda Keynote speaker Panelists Time
2.1 Finance for sustainability in Bangladesh: Current state and the future Sagira Sultana Provaty Khondkar Morshed Millat 10 – 11.30 AM
A.K.M. Mamunur Rashid
Dr. Madurika Nanayakkara
Chair: Professor Dr. Mahfuzul Hoque
2.2 Sustainability consideration and financial institutions’ risk-return trade-off: Lessons for Bangladesh Dr. Suborna Barua   Dr. Sisira Colombage 11.45 AM – 1.30 PM
Sergio Henrique Collaco de Carvalho
Ashik Chowdhury CFA
Dr. Afifa Raihana
Chair: Professor Dr. Firdousi Naher
2.3 Redesigning the financial architecture of Bangladesh: An action plan               Professor Dr. Mahmuda Akter   Chief Guest: Professor Shibli Rubayat-Ul Islam 3 - 4.30 PM
Special Guests: Deputy Governor (Bangladesh Bank)
Wajid Hasan Shah
Special Guests: Sean Kidney
Special Guests: Ricco Zhang
Special Guests: Shirajun Noor Chowdhury
Special Guests: H.E. Robert Chatterton Dickson (Video Speech, as the host of COP26)
Session Chair: Dr. Suborna Barua
2.3 (Cont.) Closing remarks Professor Dr. Mahmuda Akter 4.30 - 5 PM


Presenters in the conference will have the opportunity to publish their papers in the Journal of Financial Markets and Governance published by BICM. The conference committee will inform the deadline for submitting the final papers after the conference.


BICM will publish proceedings of the conference compiling the presentations and deliberations made in the conference. The proceedings will be published soon after the conference.


Core Committee

Professor Dr. Mahmuda Akter, Executive President, BICM


Wajid Hasan Shah, Director (Studies), BICM


Dr. Suborna Barua, Associate Professor, University of Dhaka; and Research Fellow (part-time), BICM


Dr. Nitai Chandra Debnath, Professor, BICM


Asif Imran, Deputy Registrar, BICM


Liana Anwar, Assistant professor, BICM



Sub Committee

A S M Sayem, Company Secretary, BICM


Khaleda Jasmin, Public Relations Officer, BICM


Udoy Shuvo Rahman, Assistant System Administrator, BICM


Mojibur Rahman, Personal Officer, BICM


Md. Ziaur Rahman, Computer Operator, BICM



For any information or query about ICSFI 2021, please contact Liana Anwar at OR the Conference Secretary at


Bangladesh Institute of Capital Market (BICM) was established on July 24, 2008 as an institute to impart practical capital market education and training. The Institute is gradually emerging as a center of excellence for professional development of capital market intermediaries and full spectrum of market professionals through disseminating recent and updated theoretical and practical knowledge. BICM is the country’s only government institute for imparting capital market relevant degree academic programs, training, and research. Details about BICM’s programs and research are available at