Social Impact Finance Forum


On October 15th , SCIEF held the Social Impact Finance Forum, a very important event in our anual calendar. The Forum focused on three different initiatives: the “What is out there?” video competition, a Think Tank and finally an open conference at the Aula Magna of the IE Business School.

“What is out there?” was a global competition for youth all over the world which brought togeth¬er 10,000 youth engaging in this dialogue. They shared through the form of short videos their views and existing initiatives with a social impact. From the shortlist of the top 21 videos based on popular voting, the International Jury selected the best 11 videos, whose representatives attended the Social Impact Finance Forum on October 15th in Madrid.

The international jury was formed by : Yasir Abdu¬sulayman, Head of Structured Finance, National Commercial Bank (Saudi Arabia), Ammar Ahmed Shata, Executive Director & CEO, Alkhabeer Capi¬tal (Saudi Arabia), Karim Amellal, Founder and CEO of Stand Alone Media, Lecturer of Sciencies Po (France), Jon Axtell, Program Director, The Ub-Bay Area & Co- Program Coordinator of the Creative Currency Initiative (USA), Prof. Gunther Capelle Blancard, University Paris (France), JC Capelli, CEO Friends Clear (France), Miguel Ganzo, Coordi¬nator of International Relations, JAK Medlemsbank (Sweden), Dr. Joaquín Garralda, Academic Affairs Dean, IE Business School (Spain), David García (Regional Director of Business Innovation, Everis (Spain), Dr. Mohammed Obaidullah, Division Head (Training), Islamic Development Bank (Saudi Ara¬Ara¬bia), Max Oliva, Director of Social Impact Manage¬ment at IE Business School (Spain), Olivia Orozco de la Torre, Coordinator Training, Economics and Business, Casa Árabe (Spain), Bernard Paranque, Chair AG2R La Mondiale “Finance Reconsidered”, Euromed Management (France), Pierre Charles Pradler, Chair for Ethics and Financial Norms, Uni¬versity of Paris La Sorbonne (France), Gema Sac¬ristán, Lead Investment Officer and Manager of the sustainbility program “beyondBanking: banking on global sustainability, Inter-Amercian Development Bank (USA), and Abdullah Turkistani, Dean of the Islamic Economics Institute, King Abdulaziz Uni¬versity (Saudi Arabia).

In the final round one representative of each team had the chance to share their story. The repre¬sentatives were: Anton Abdul Fatah (Garut Waste Bank, Indonesia), Nausher Ahmed Team (Islamic Microfinance, Pakistan), Khalid Alkhudair (Glowork Start, Saudi Arabia), Mteo Álvarez y Pablo Ojeda (Tabernero), Aliusy Cedeño (Real World, Cuba/ Spain), Chandra Man Dongol (Jamarko, Nepal), Christopher La Mantia and Elle McMurran ( Suc¬cessful funding of Bubble & Balm, Australia), Na¬beel Muhammad (Unconventional Social Impact Financing, Pakistan), Kristina Stoney & Nic Arney ( What is out there-Funding A Global Adventure, Australia), Tamer Taha (Yomken.Com/The Crowfunding Model with Islamic Microfinance Principles, Egypt) and Armin Zaman Khan (Being Voluntary and Being Sustainable, Bangladesh).


1What is out there?
Video Competition

A global competition for youth all over the world which brought together 10,000 youth engaging in this dialogue and nearly.

Nearly 60 teams from 40 countries shared through the form of short videos their views & existing initiatives with a social impact.

The International Jury selected the best 10 videos who attended the Social Impact Finance Forum on October 15th in Madrid.

Three finalists team were awarded with €2,000.

2Think Tank

On October 15th three workshops of debate were organized on the following topics:

1. Ethical banking

2. Islamic Finance

3. Non banking alternatives

All Think Tank workshops were by invitation only to include a max of 15 young people including the winners of the What is Out There? Video Competitions, entrepreneurs, innovators, businesses and academic institutions.

View video     |     View video     |     View video

3Social impact finance Forum

On October 15th at the Aula Magna, on Maria the Molina 11 took place the final event of the process with an open conference.

The conference consisted on a showcase on line life for all those who were interested around the world.

The event consisted of: 1. Three Key Note Speakers and three young people sharing their perspective. This will be followed by an interactive Q&A.

2. The sponsors awarded the winners of the best three videos of the What is Out There? Video Competition


Anton Abdul Fatah

Anton Abdul Fatah

1º Why did you decide to participate in the competition “What is out there?

”When we heard “What is Out There?” Competition, my friends and I from the Sindang Sari Youth group jumped out of our seats and screamed in excitement. This competition is what we have been waiting for! “What is Out There?” Competition is one of our way to share our spirit in taking real action based around our concerns on many issues related to farmers poverty and declining land productivity in our hometown. We also want to share how we support the people with our Waste Bank to run their small business with our social fund.

2º How did you choose the topic for your video?

We run our Waste Bank since 2009 and we can help farmers to produce organic fertilizer and create social fund. We choose our Waste Bank just because we already did this activities, and we really want to share our spirit to others youth in all around the world.

3º How has been your experience in this competition?

We were really enjoyed this great event, really enjoy the trip, and really enjoy the environment of Madrid.

This competition not only give us a chance to compete, but also an opportunity to sharing discussion with a lot of expert during Social Finance Forum. We got a lot of new knowledge, got so many inspirations, and the best thinks is so many ideas that will be applied in our communities.

We were happy because can meet with some fantastic youth person from several countries.

4º Do you think this kind of competition is really useful?

What is Out There? Competition is really useful for us to share our idea, spirit and social value. We want to share our experience, not because we do the best think, but we want others people do at least same action to help others. This competition is one of the best ways to do that. On the other hand, we can get suggestion and others ideas from all participants and jury panels. Those inputs are very valuable to improve our action in our communities. Lastly, the prize is very useful for us to be used for some goods to run our business faster. Many thanks SCIEF!

Tamer Mohamed Elsayed Taha

Tamer Mohamed Elsayed Taha

1º Why did you decide to participate in the competition “What is out there?”

I decided to participate in the competition because I think that it is one of the very few competitions that is interested by the social-impact finance in its alternative forms, and notably its the islamic finance and economics that we adopt in

2º How did you choose the topic for your video?

We wanted to introduce our platform to the voters all over the world. Since the concept of crowdfunding is somehow a new one, we tried to explain in the animation video what is Crowdfunding and how can Yomken be a Shariah-Friendly tool for innovations, which is usually a risky investment area for the Banks.

3º How has been your experience in this competition?

The competition was really amazing. The most beneficial thing in it was that we could meet the other contestants and know more about their very innovative projects. In addition, it was one of the very unique times where all this variety of experts brought together thanks to SCIEF. They were really an excellent mix of expertise and their insights were very useful.

4º Do you think this kind of competition is really useful?

I believe that the competition is highly useful and needed in order to promote social finance. I also believe that videos as a medium to present a project or an idea is a very unique thing. Not only it shows more the social aspect, but videos spread all over the word much easier than business plans or written applications as some of other competitions. Therefore, videos do magnify the idea in a creative way.

Mateo Álvarez Tabernero

Mateo Álvarez Tabernero

1º Why did you decide to participate in the competition “What is out there?”

I decided to participate in the competition "What is out there?" Because I care about the issues related to the real economy and the financing of innovative and alternative ways. Also I work in an audiovisual company and I thought I could make something of quality.</p>

2º How did you choose the topic for your video?

I chose that topic for the video because I know the "Solidarity Fund for Peace and Hope" this seems to me a very interesting initiative. The Solidarity Fund makes a very important and commendable job in my area. They are also near where I live so I was more comfortable for interviews and travel.

3º How has been your experience in this competition?

My experience in this competition was very positive; I have seen and learned many things. I also met people who have given me ideas for the future.

4º Do you think this kind of competition is really useful?

Yes, I think it is very useful, because they begin to value and give meet new and original initiatives, and encourages contact between people of very diverse backgrounds who never have met otherwise, this opens up new hopes for the future. I find it much more useful than the usual contests between bureaucrats who only speak of statistics and unreal parameters and that led us to the situation where we are.

Michael Looft
Regional Director, Europe & Asia at
Linked In

As Regional Director for Europe and Asia, Michael is responsible for setting strategy, managing the portfolio of current microfinance partners, and conducting due diligence on potential partners. In 2006, Michael shifted his career into microfinance after twelve years in the retail & commercial banking industries. Prior to joining Kiva, Michael organized savings and loan clubs (ASCAs) in Sierra Leone, developed a microfinance program for a US-based nonprofit operating in the Philippines, and worked as a data analyst for an MFI in Guatemala. He holds an undergraduate degree in International Business with a concentration in finance from San Francisco State University, and graduate degrees from both St. John's College and Harvard. At Harvard, Michael focused on designing Shariah compliant microfinance products for Muslim communities, as well as researching the impacts of faith-based involvement in the microfinance industry.

While at Kiva, Michael has grown the organization's presence in southeastern Europe and in India. He has also been instrumental in creating and building out Islamic microfinance programs in the Middle East, which are particularly targeted to youth. One of the programs he is very proud of is a Qard Hassan (0% interest) loan program in Pakistan for students and for those at the very base of the pyramid. He hopes to continue growing this and other programs that capture the spirit of Islamic finance: protecting vulnerable members of society from exploitation and ensuring that they have the means to access the formal financial sector.

Ignacio de la torreArcano
Dr Ignacio de la Torre
Academic Director of the Master
in Finance Programs at IE Business School
and Partner of Arcano

Professor de la Torre is the Academic Director of the Master in Finance Programs at IE Business School and Partner of Arcano. With twelve years experience in diverse fields of investment banking (corporate finance, equity research, specialist sales of media stocks, generalist sales of European equities and derivative sales at UBS and Deutsche Bank), de la Torre has been involved as a Professor for IE for the last six years, teaching creative accounting, macroeconomics, finance & valuation courses. Professor De la Torre has also founded a business, the Internet retailer where he acts as a member of the board.

De la Torre’s research has been quite diverse. He recently co-authored El Final de la Crisis a book on the interrelations between finance & marcoeconomics in the credit crisis, awarded the Everis Prize 2009; in 2008 he published Creative Accounting Exposed (Mc Millan - Palgrave), a book on creative accounting practices and detection mechanisms. His dissertation involved the banking activities of Templar Knights during the XIII century (as a result, he later published in 2004 Los Templarios y el Origen de la Banca, praised by Nobel Laureate Sir Aaron Klug as, ‘a key step in research on the origin of banking’). Professor de la Torre also published a book on the origins of Islamism (Islamismo: Desvelando el radicalismo), commended by Jorge Dezcallar, former head of Spanish intelligence service (CNI) as ‘an excellent work for understanding the ideological roots of Islamism’.

Prof. De la Torre’s interests also lie in entrepreneurship and he has published two cases for INSEAD on the launch and consolidation of the Internet In finance, he has co-authored the case Xfera: What’s a fair price? The case of Spain’s 4th UMTS license, which was awarded best academic case by IE in 2003 and published in Revista de Empresa in Fall 2005, and co-authored The Phoenix Death (2009), awarded second prize in IE’s 2009 case competition.

Dr Raja Almarzoqi AlbqamiIMF
Dr Raja Almarzoqi Albqami
Advisor, Middle East and Central Asia Department,
IMF and Mission Chief for Azerbaijan
& Founder and board member of
Islamic Finance Center, London

Linked In

Dr.Raja M. Almarzoqi is advisor, Middle East and Central Asia Department, IMF.

Before he joint the IMF, he worked as an associate professor of economics at Institute of Diplomatic Studies, and adjunct professor at Thunderbird Global Business School and King Saud University. In addition to his duties in the Institute, he serves as Chief Economist of Al-Khabeer Capital. He was Minister Plenipotentiary; Chairman of Monetary Union Unit; Cooperation Council for the Arab States of the Gulf (GCC).

In addition, he worked as a consultant to many government and private organizations (World Bank, ARAMCO, Ministry of Economics & Planning, Saudi Arabian General Investment Authority (SAGIA), Supreme Commission for Tourism, and KACST, etc). Dr Raja is also a board member in several organizations and Funds.

Danae RingelmannIndiegogo
Danae Ringelmann
Founder & COO, Indiegogo
Linked In

Danae Ringelmann co-founded Indiegogo to democratize fundraising. Passionate about helping artists and entrepreneurs embrace crowdfunding, Danae speaks often at conferences. Recent speaking engagements include SXSW, MAD Hong Kong, Ted, Big Omaha. Fast Company Magazine recently named Danae one of the Top 50 Most Influential Women in Technology.

Prior to Indiegogo, Danae was a Securities Analyst at Cowen & Co. where she covered entertainment companies including Pixar, Lionsgate, Disney, and Electronic Arts. Danae also focused on cable network, NFL, newspaper and hedge fund clientele while at JPMorgan's Investment Bank and Private Bank. In the wake of 9/11, Danae co-produced a concert reading of Incident at Vichy, an Arthur Miller play addressing the politically charged topic of racial profiling.

Danae is a CFA charterholder and holds an MBA from the Haas School of Business at UC Berkeley. Danae graduated with a B.A. in Humanities from UNC-Chapel Hill, where she was a Morehead Scholar and varsity rower.

Miguel GanzoJak
Miguel Ganzo
Coordinator of International Relations,
JAK Medlemsbank (Sweden)

Miguel Ganzo is a Spanish mathematician who lives in Malmö, south of Sweden, and has been working with JAK Members Bank for the past 4 years. He coordinates the international relations of the bank so he is in contact with very different movements and projects on alternative finances all around the word.

JAK Members Bank is a cooperative bank, founded in Sweden 1965, which is operating an interest-free savings and loan system since 1970 and obtained the Bank License in 1997. JAK don't have the goal to expand its activities abroad. Instead JAK would like help people in other countries to create their own interest-free projects.


10.30 - 11.00 Networking Coffee Break IE
Calle Serrano 105,
Olive Trees Patio
11.00 - 12.00 Opening Remarks
Intro to Social Impact Finance
Introduction to tracks
12.00 - 12.15 Working Groups
12.15 - 14.00
Track 1:
Islamic Finance
Serrano 105
Track 2:
Ethical banking
C 201 – María de Molina 15
Track 3:
Non banking alternatives
C 202 – María de Molina 15
14.00 - 14.15 Bus to Casa Arabe Meeting point at Serrano 105 main entrance
14.15 - 15.45 Lunch Casa Arabe
Calle Alcala nº 62
15.45 -16.00 Introduction into the Competition
16.00 - 16.30 What is Out There? Video Competition Finalists presentation
16.30 - 16.45 Break
16.45 - 17.45 What is Out There? Video Competition Finalists Presentations
17.45 - 18.00 Coffee break
18.00 - 18.30 Jury deliberation (Casa Arabe)
18.30 - 19.00 REGISTRATION IE
Aula Magna
C / Maria de Molina 11/13
19.00 - 19.05 Inauguration
19.05 - 19.20
Opening Speech - Welcome and Presentation Michael Looft,
Regional Director, Europe & Asia, (USA)
19.20 - 19.35 Track 1: Ethical Banking Key Note and Interactive Panel Miguel
, JAK Medlemsbank (Sweden)
19.35 - 19.50 Track 2: Islamic Banking Key Note, and Interactive Panel Dr.
Raja Almarzoqi
, IMF & Islamic Finance Center, (USA/UK)
19.50 - 20.25 Track 3: Non Banking Solutions Key Note & Interactive Panel
Danae Ringelmann, Founder & COO, Indiegogo (USA)
20.25 - 21.00 Conclusion: The Future of Finance by, Dr. Ignacio de la Torre,
Professor de la Torre is the Academic Director of the Master in
Finance Programs at IE Business School and Partner of Arcano
Announcement of Winners
1 Prize Giving: by, Ammar Ahmed Shata, Executive Director
& CEO Al-Khabeer Capital (Saudi Arabia)
2 Prize Giving: by, Eduardo López Busquets, Director
General, Casa Árabe (Spain)
3 Prize Giving: by, Yasir Abdu Sulayman, Head of Structured
Finance in The National Commercial Bank (Saudi Arabia)
Closing Remarks
Dr Celia de Anca, Scief Director
20.25 - 21.00 Closing Remarks - Dr. Celia de Anca, Scief Director


The Social Impact Finance Forum brought together young leaders, entrepreneurs, major banks, alternative finance institution and legal experts to discuss the “The Future of Finance - How alternative finance can fund businesses”

The list of participants were:

And leaders from the following organizations:

• Euromed Management
• Financieros sin Fronteras
• Islamic International Foundation for Economics & Finance (IIFEF)
• University Paris 1 Panthéon-Sorbonne
• Universidad Pontificia Comillas –ICADE- Madrid
• Stand Alone Media

• Triodos Bank
• Inter-American Development Bank
• Islamic Development Bank
• JAK Medlemsbank
• Robabank
• Friends Clear
• Alkhabeer Capital
• Renfe
• National Commercial Bank
• Everis
• Creative Currency
• The Hub

• European Business Ethics Networks
• Social Innovation Europe
• Expansión Exterior
• Casa Arabe


You can follow us on Twitter: @sciefnews, by joining our Facebook page or by networking with other participants in our LinkedIn Group. If you have any questions, comments, or ideas, please feel free to contact us!

Yasmine Khater
Yasmine Khater
Scief Coordinator
Linked In
Telephone +34 69 346 0947
Celia de Anca
Dr Celia de Anca
Scief Director
Linked In
Telephone +34609 240 983
Kerry Parke
Kerry Parke
Associate Director of Communications
Responsible for International Media

Linked In
Telephone +34 91 568 9850
Juncal Sánchez
Juncal Sánchez Mendieta
Associate Director of Communications
Responsible for Spanish media and Foreign

Telephone +34 91 568 82 64
Juncal Sánchez
Beatriz Serena
IE Event Coordinator
Linked In
Telephone 915689769 Ext. 49769