CIBAFI launches its  third Global Forum 

CIBAFI launches its third Global Forum 

Manama : The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions organised its third Global Forum, on the theme of “The New Face of Financial Services: Disruptions, Opportunities and the New Normals”. 

The Forum is organised in partnership with the Banking Regulation and Supervision Agency of Turkey (BRSA) at Raffles Istanbul Hotel in Istanbul, Turkey.

The two-day Forum, gathered stakeholders from the Islamic finance industry, multilateral development institutions, international and national regulatory bodies, policy-makers, and academia to discuss the key emerging issues within the industry. The Forum was attended by more than 350 delegates from over 37 countries.

The event was opened by Abdelilah Belatik, Secretary General, of CIBAFI; Abdulhameed M. Aboumoussa, Governor of Faisal Islamic Bank of Egypt & Deputy Chairman of CIBAFI; Melikşah Utku, General Manager of Al Baraka Türk Participation Bank and Chairman of the Participation Banks Association of Turkey; and Mehmet Ali Akben, Chairman, Banking Regulation and Supervision Agency,
Turkey.

 The Regulatory Keynote session moderated by Adnan Ahmed Yousif, President and Chief Executive, Al Baraka Banking Group focused on main thoughts as to how regulatory agencies remain relevant in a changing economic environment, where roles and existence of regulators is being questioned by the disruptions in the financial sector. The diverse panel comprised Dr. Ali Muhsin Ismaiel, Governor, Central Bank of Iraq; Kairat Nematovich Kelimbetov, Governor, Astana International Financial Centre, Kazakhstan; Raed H. Charafeddine, First Vice-Governor, Banque Du Liban, Republic of Lebanon; Abderrahim Bouazza, Director General, Bank Al-Maghrib, Morocco; and Hon. Abdirahin Haithar Abdi, Chairman, Insurance Regulatory Authority,
Kenya. 

The Forum witnessed the launch of two groundbreaking reports, namely CIBAFI Global Islamic Bankers’ Survey 2018 and Global Takaful Survey 2018, where CIBAFI Seceratry General Abdelilah Belatik during the launch reported that having actual perception of Islamic Banks CEOs from 103 Islamic Banks from 31 countries measured on year by year basis is by itself an achievement. This year CIBAFI also stepped into the Takaful sector by starting to measure the industry growth drivers and future outlook.

Session one, themed “Global C-Suite Opening Panel: Leadership Response to the Change”, was chaired by Musa A. Shihadeh, Chief Executive Officer, Jordan Islamic Bank. And it included panelists such as Abdessamad Issami, Chief Executive Officer, Umnia Bank, Morocco; Iyad G. Asali, General Manager, Islamic International Arab Bank, Jordan; Shadi Zahran, Chief Financial Officer, Kuwait Finance House, Kuwait; Benjamin Young, Senior Sovereign Analyst, S&P Global Ratings, UAE; Wadeaa Nori Al Handhal, Chairman, Iraq Private Banks League, Iraq; and YBhg. Dato’ Haji Mohd Redza Shah Bin Abdul Wahid, Chief Executive Officer, Bank Muamalat Malaysia Berhad, Malaysia. The session focused on CEOs’ reaction to transformation, and how it affected the leading manners and better usage of resources. The session discussed regional business environment and how to deliver Islamic banking services with a facelift through an ecosystem of e-partnerships.

The first day of the Forum concluded with a Session themed “Future of Employment: Are We Ready for the Change?”. It was chaired by Dr. Mahmoud Al Homsi, Research Economist, CIBAFI. 

The second day of the Forum will continue with an exclusive CIBAFI Breakfast Session themed “Leadership and Strategy in the Era of the Fourth Industrial  Revolution”, where Rajeev Peshawaria, Chief Executive Officer & Executive Director of the ICLIF Leadership and Governance Centre, from Malaysia will talk about effective leadership style in a world of 24/7 connectivity, and how it has been changed in the open source era. Signature session will be moderated by Prof. Ahmet Faruk Aysan, Dean, İstanbul Şehir University.




Dialogue puts spotlight on cultural diversity

Dialogue puts spotlight on cultural diversity

Major personalities belonging to the Arab and European cultural scenes came together to discuss the significance of culture as a structuring element in history. ‘The Intercultural Dialogue Between World Cities’ was attended by André Azoulay, senior adviser to King Moham

Record drugs bust for Kingdom-based CMF

Record drugs bust for Kingdom-based CMF

HMS Dragon, operating under the Combined Maritime Forces, has conducted her second major seizure of narcotics in less than two weeks, the CMF website reported. The Type 45 Destroyer was on patrol as part of CMF’s Combined Task Force (CTF) 150 when the crew found and destroyed more t

Observatory to check on lawmakers’ performance

Observatory to check on lawmakers’ performance

An initiative to monitor the performance of the parliamentarians including keeping a close eye on the attendance of MPs at sessions was launched yesterday. Responding to the need to have independent civil institutions that transparently monitor the performance of Bahraini Legislative Coun

Woman elected head after hours of House drama

Woman elected head after hours of House drama

The newly-elected members of the parliament yesterday elected lawmaker Fawzia Zainal as the House chairwoman after an intense drama which exhibited many lawmakers criticising each other as well as the process of selection. MP Adel Al Asoomi, one of the contenders for the top House post, w

First comes duty

First comes duty

His Majesty King Hamad bin Isa Al Khalifa yesterday opened the first session of the Fifth Legislative Term in the presence of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commande

Second phase of water park project to commence soon

Second phase of water park project to commence soon

The Ministry of Works, Municipal Affairs and Urban Planning announced that it would begin the implementation of the second phase of the water park project in the Capital. The project is part of the ministry’s initiatives to promote sustainable urban development. Speaking to Tribune,


Growing the Red gold

Growing the Red gold

Starting before dawn has even broken, Afghanistan’s army of saffron pickers shift their way across sunbaked fields to pluck brightly the coloured crocuses that are providing the country’s farmers with a new means of income.

Solar energy to power Waqf

Solar energy to power Waqf

The first of the 535 government buildings in the Kingdom, identified to receive solar power, has received its solar roof, with Electricity and Water Affairs Minister Dr Abdulhussain Mirza inaugurating the system installed at Jaffriya W

US nuns stole money to gamble in Vegas

US nuns stole money to gamble in Vegas

Two California nuns who stole around $500,000 dollars from the school where they worked and splashed out on travel and gambling in Las Vegas are facing criminal charges, their order confirmed Tuesday. Sisters Mary Margaret Kreuper and

We accept people’s mandate: PM Modi

We accept people’s mandate: PM Modi

I ndia’s ruling party suffered stinging election defeats in at least two stronghold states, results showed Tuesday, in a big blow to Prime Minister Narendra Modi before national polls in 2019. The votes held earlier this month an