العدد الحالي: تشرين 1/اكتوبر 2018       اختر عدد :
ترجم هذه الصفحة:
    بحث متقدم
A- A A+ : حجم الخط

كلمة المجلس العام

Abdelilah BELATIK

Secretary General of CIBAFI

Welcome to the 52nd edition of the Global Islamic Economics Magazine (GIEM). As always, it is our pleasure to keep you updated with the current challenges and opportunities and recent developments in the global Islamic finance industry. The GIEM also serves as the platform for CIBAFI to keep its stakeholders updated of its activities and initiatives, and keep the readers abreast with important developments impacting the Islamic banking and finance industry.

 

As part of CIBAFI’s Strategic Objective of Research and Publications, CIBAFI has identified the growing importance of Risk Management and Compliance functions in the Islamic banking industry, and has recently issued its second Briefing on Risk Management and Compliance. This Briefing has addressed some of the important updates in the recent past in Risk Management and Compliance areas with some key insights on standards, risk priorities in the dynamic and evolving risk landscape of the Islamic financial industry.

 

This Briefing amongst others, addressed recent changes in the global standards on risk management and compliance, and highlighted some important areas, such as: 1) Strengthening of governance standards related to the oversight and management of risk and compliance and 2) Strengthening of prudential standards related to the identification, measurement and mitigation of risks. The Briefing also stressed that equity investment risk is an area of risk where Islamic financial institutions are more vulnerable than their conventional peers in view of the greater role that equity finance plays within Islamic finance.

 

CIBAFI Briefings are issued periodically to address issues such as these, in the form of clear and concise analytical reports with an aim to raise awareness and as updates on important topics for the practitioners of the Islamic Financial Services Industry (IFSI). CIBAFI has lined up its Briefings on other important topics and will issue in the coming weeks.

CIBAFI has been receiving an overwhelming response to its Global Islamic Bankers’ Survey 2016 (GIBS 2016). The survey responses crossed the number of responses received last year for the GIBS 2015. The CIBAFI Secretariat is gratified by the strong response that it has received as an acknowledgement from the global Islamic banking industry that it has found value in the results of last year’s survey and its support to GIBS Report as an important publication for the benefit of the industry. The GIBS 2016 re-enforces CIBAFI’s position as the leading voice of the Islamic finance industry, both soliciting and articulating the industry’s views of key issues related to its future and its development. The GIBS 2016 report is under preparation and will be launched in coming weeks.

CIBAFI has undertaken this survey in fulfilment of two of its strategic objectives: ‘Research and Publications’ and ‘Awareness and Information Sharing’. CIBAFI is also working on its maiden report on Corporate Governance of Islamic Banks in collaboration with the World Bank Group.

As part of CIBAFI’s Strategic Objective of Awareness and Information Sharing, CIBAFI in association with the Union of Arab Banks (UAB) is jointly organizing an Islamic Finance Forum, themed “The Developing Markets of Islamic Finance: Policies, Regulations, and Market Practices”, under the auspices of the Governor of the Central Bank of Tunisia. The Forum will be organized in the capital of Tunisia, Tunis on 28 - 29 September 2016. The event will bring together distinguished personalities from all around the Mediterranean region and beyond, from financial institutions, business leaders, policy makers and regulators to academia and industry experts, to discuss the most relevant issues and topics for the growth and development of Islamic finance industry in the country and the region. CIBAFI, as a global umbrella of Islamic financial institutions, and the UAB as a significant regional partner aim to leverage opportunities to further explore Tunisia and the Mediterranean region as emerging Islamic finance markets.

For the fourth Strategic Objective of Professional Development, and in particular CIBAFI’s endeavour to enhance capacity building in the Islamic Financial Services Industry, CIBAFI held first of its series of Technical Workshops on products developments in Bahrain from 30th August to 1st September 2016. This 3-day Technical Workshop provided participants with hands on technical and practical knowledge and skills pertaining to products development, with a focus on Islamic financial services. Thirty delegates from Bahrain and around the region including Turkey, Sudan and other countries participated in the workshop. The Workshop enabled participants to understand the mechanisms, processes, and obstacles in the development of new products. The CIBAFI Secretary General handed over the certificates to the workshop participants upon the conclusion of the workshop.

This workshop will be followed by the next workshop in this series, hosted by Institute of Finance, Saudi Arabian Monetary Agency (SAMA) in Jeddah, Saudi Arabia from 19 - 21 October 2016. CIBAFI Technical Workshops aim to equip the Islamic banking industry’s staff to help tackle the need for developing their technical expertise and are targeted towards middle-level staff of Islamic banks and financial institutions including officers from the departments of products development, Shariah, risk management, legal and others.

CIBAFI as an umbrella of Islamic financial institutions continues to progress its agendas and address areas of long and short term importance for the development of Islamic financial industry and identify opportunities in developing Islamic finance globally thus far through its four Strategic Objectives. Stay tuned!