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 54th 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 Islamic financial services industry. The GIEM also serves as the platform for CIBAFI to keep its stakeholders updated of its activities and initiatives..

 

As part of CIBAFI’s Strategic Objective 2: Research and Publications, CIBAFI is set to release its second annual Global Islamic Bankers’ Survey (GIBS) in the coming weeks. This flagship publication of CIBAFI is being developed based on responses from 86 heads of Islamic banks from 29 countries around the world. Similar to last year, GIBS includes an update of the Confidence Index and Risk Dashboard of the Islamic finance industry. Additionally this year GIBS covers responses to questions about Islamic banks’ activities in the field of Responsible and Sustainable Business, being the theme of this years GIBS. GIBS 2016 also captures industry’s perception through interview responses from selected Islamic banks.

 

GIBS reveals that Islamic banks are ‘fairly’ optimistic about the future of banking in their home markets, and for the prospects of Islamic banking, but in both cases they are a little less optimistic than they were last year. But Islamic bankers are fairly optimistic that they will be able to outperform their conventional peers in terms of revenue growth. There are regional differences of opinion. For example, Middle Eastern banks are more optimistic than Asian banks about prospects for banking but there is no clear trend across all the questions posed in the Confidence Index. What is more striking is the moderation of views across all regions – no banks declare themselves to be either ‘very optimistic’ or ‘very pessimistic’.

 

The macro-economic environment is the biggest concern for Islamic banks, followed by service quality and challenges related to business growth and expansion. Several main concerns relate to common pressures faced by banks in developing and changing business environments. It is an indication of the increasing maturity of Islamic banking industry that banks are now heavily focused on standard banking challenges rather than exclusively on those that are specific to Shariah-compliant financing.

 

Islamic banks believe that the risks that they face are increasing. Sixteen of the 22 areas identified in the latest CIBAFI questionnaire are deemed to have a higher risk than they did last year. Regardless of the size, banks broadly face the same risk priorities. Macro-economic risk is seen as the greatest that Islamic banks face, with liquidity risk ranked second and political risk ranked third.

 

There are regional differences in the principal risks that Islamic banks think they face, but six out of the seven regions rank macro-economic risk as the most important. Banks are confident of their ability to comply with the Shari’ah principles and rate the risk of non-compliance low.

 

Section 3 of GIBS 2016 on Responsible and Sustainability Business Practices provides findings and analysis that aim to enhance the understanding of the degree of responsible business and sustainability practices in the global Islamic banking industry. Specifically, it considers 11 areas that affect banks’ responsible business and sustainability practices: 1) business sector exposure; 2) key stakeholders; 3) economic impacts of Islamic banks; 4) employee relations and development; 5) customer relations; 6) banking product responsibility and financial consumer protection; 7) financial inclusion, social impact and MSME financing; 8) community relations and corporate philanthropy; 9) environmental policy and management system; 10) bank’s integration of social and environmental impacts into business strategy; and 11) constraints and benefits in implementing responsible business initiatives, Corporate Social Responsibility (CSR), or sustainability strategy.

 

Continuing with the Strategic Objective 2 Research and Publications, CIBAFI issued its 3rd Briefing on Tier 1 and Tier 2 Capital Sukuk. This Briefing covers some of the important aspects of ‘Capital Definitions’ under the Capital Adequacy revised standards and describes some of the instruments that conform to these regulations. In addition, the Briefing presents an analysis of Sukuk that Islamic banks have issued to strengthen their capital ratios. The Briefing also highlights some issues that Islamic financial institutions may face and provides key messages for them as they seek to implement these new regulatory standards in their respective jurisdictions.

 

Under its fourth Strategic Objective: Professional Development, CIBAFI and Ivey Business School continued the series of Executive Programmes with a focus this year on ambidextrous leadership and disruptive strategies. The series follows the successful execution of the inaugural Executive Programme with Ivey Business School last year which captured a practical, high energy learning experience for Islamic Financial Institutions’ (IFIs) executives that aimed at enhancing skills of strategic analysis, strategy formation and execution.

 

This year, the design substantially focused not only on strategic thinking, but also on disruptive trends and impact on the finance industry, innovations in FinTech and Islamic finance, and development of leadership mind-set that is ambidextrous. Ambidextrous leadership is particularly relevant to established and well-structured organizations, which many IFIs are, and yet wish to build up the mind-set and capability to explore new opportunities and growth areas.

 

The Executive Programmes organised by CIBAFI are aligned with the organisation’s larger strategic plan to promote and facilitate the growth of Islamic Finance. These specially designed Executive Strategy and Leadership Programmes are expected to cater to our members’ needs both from around the region and globally.

 

CIBAFI as an umbrella of Islamic financial institutions continues to progress its agendas and address areas of both long and short term significance for the development of Islamic finance industry globally through its four Strategic Objectives. Stay tuned!