العدد الحالي: ايلول/ سبتمبر 2018       اختر عدد :
ترجم هذه الصفحة:
    بحث متقدم
A- A A+ : حجم الخط

كلمة المجلس العام

Abdelilah BELATIK

Secretary General of CIBAFI

This Twenty Third (23rd) Edition of the “Global Islamic Economics Magazine” highlights two recent achievements of the General Council for Islamic Banks and Financial Institutions (CIBAFI) and they are the Second International Forum for Islamic Banks and financial institutions in Luxembourg and Islamic Country Report on the Kingdom of Morocco.

First, CIBAFI held its Second International Forum for Islamic Banks and financial institutions on 3 - 4 April 2014 in Luxembourg under the theme "Islamic Finance in Europe: Learn from previous experiences". The Forum, which was attended by 120 delegates from 15 countries, discussed topics relating to the application of Islamic finance in Europe including some relevant Islamic financing tools and instruments, and how Europe can benefit from them. The Keynote address was delivered by H.E. Dr Abdul Aziz Al-Hinai, Vice President Finance, Islamic Development Bank (IDB). He highlighted the IDB Group initiatives in developing Islamic finance globally.

One key takeaway from the Forum is on the importance of information and experience sharing. The assistance on expertise and technical know–how from the countries which have successfully embraced Islamic financial system decades ago to Europe would play a key role in the process of applying Islamic finance in Europe. Forum distinguished panellists have also highlighted the importance of adopting the governance practices appropriate to the European context.

Another valuable takeaway from the Forum was the recommendation to actively engage European industry experts, in order to understand cultural differences towards developing the best methodologies to bringing Islamic finance into the mainstream as a viable financial system not merely targeting a certain religious group.

The third key takeaway is on the need to shift from sensitization to implementation through technical assistance to European institutions that are looking to apply sharia compliant products and services in their markets.

Second, “Morocco Islamic Finance 2014: Unlocking the Kingdom’s Potential” Report was published on 24 April 2014, a joint initiative of CIBAFI with the Islamic Research and Training Institute (IRTI) and Thomson Reuters. This Report is the third in a series of Country Reports that were initiated to evaluate the appetite and potential for Islamic financial services as well as the economic and financial fundamentals for the new frontier markets of Islamic finance.

The Report is based on surveys exclusively focussing on retail consumer and corporate segments. The Report estimates that Islamic banking assets could potentially reach US$ 8.6 billion by 2018, with a profit pool of between US$ 67 million and US$ 112 million for Islamic finance providers. 

With recent developments on the regulatory front in the Kingdom of Morocco, the parliament is expected to approve the bill on participatory banking followed by the regulatory framework for Takaful in 2014. High expectations are being placed on Islamic finance in the Kingdom and the Report presents a forward-looking analysis of potential Islamic banking assets and investment opportunities.

We are confident this Report will bring useful insights to the stakeholders that have interest in the Kingdom promising market. The Report is a timely contribution which highlights the opportunities as well as the potential challenges faced by relevant parties.

As the global umbrella of Islamic banks and financial institutions, CIBAFI is committed to addressing the needs and expectations of its members and stakeholders, in representing the Islamic financial services industry globally, through promoting its concepts and rules, consolidating cooperation among CIBAFI members and other organisations with similar objectives and participating in the development of the industry through research and capacity building initiatives.

Papers of the Forum and “Morocco Islamic Finance 2014: Unlocking the Kingdom’s Potential” Report can be downloaded from CIBAFI website: www.cibafi.org