العدد الحالي: تشرين 1/اكتوبر 2018       اختر عدد :
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كلمة المجلس العام

Abdelilah BELATIK

Secretary General of CIBAFI

Welcome to the 34th issue of the Global Islamic Economics Magazine (GIEM). Where we keep you updated with CIBAFI’s activities and initiatives in supporting the Islamic Financial Services Industry (IFSI).

I am delighted to open this issue of GIEM with an overview of CIBAFI activities aligned with its Strategic Plan 2015 – 2018.

In line with the CIBAFI’s first Strategic Objective:  Policy and Regulatory Advocacy, CIBAFI participated in the First Consultative Meeting of member institutions in the OIC in the period from 7 - 8 December 2014 in the OIC head office in Jeddah, Saudi Arabia to discuss draft of the OIC Ten-Year Programme of Action (TYPOA) for 2016 – 2025. The drafted document was distributed for comments with our members before sending it to the OIC. The Secretariat also played a leadership role in commenting on the Islamic Financial Services Board (IFSB) Exposure Draft of Guidance Note 6 (ED GN-6) on Quantitative Measures for Liquidity Risk Management. We have sent letters to all CIBAFI members and other Islamic financial institutions with a summary of the main points of concern for getting their comments and observations on the draft to be taken into consideration by IFSB when issuing this GN-6. CIBAFI submitted a Technical Note reflecting our member’s collective views on the document to the IFBS.

As to our second Strategic Objective: Research and Publication, CIBAFI has issued several Islamic Finance Country Reports in the past on Tunisia, Turkey, and Morocco, based on the partnership agreement between CIBAFI with Thomson Reuters and the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank. The report on Oman was launched during the 10th World Islamic Economic Forum (WIEF) on 29th October 2014, which was held in Dubai, United Arab Emirates. The Secretariat along with its partners currently is working on next country report, which is dedicated to Malaysia. The Secretariat also issued its inaugural newsletter on 23rd December 2014, titled the “InFocus”, which highlights main activities of CIBAFI and other major industry news. A copy of the newsletter was sent to all members.

To promote our third Strategic Objective: Awareness and Information Sharing, the Secretariat organized CIBAFI InFocus session on “Strategic options for Islamic banks in response to Basel III standards - The practitioners’ perspective”, which took place during the World Islamic Banking Conference (WIBC), in Manama, Kingdom of Bahrain on 3 December 2014, it was attended by over 100 participants. CIBAFI plans to convene another InFocus session during the upcoming  WIBC Asia Summit, emphasizing on Islamic banking transformational strategies. Another key initiative is the CIBAFI IDB Roundtable Meeting of the Directors of Operations and Investment of Islamic banks, themed “Internationalization Strategies of Islamic Financial Institutions” which was held on 23 – 24 February, 2015, in Manama, Kingdom of Bahrain. The Roundtable Meeting aimed at creating a platform for sharing the best practices amongst CIBAFI members and discussing issues and challenges of internationalization of the IFSI.

 

CIBAFI also has a leading and active role in the area of Professional Development within the Islamic finance industry, aligned to its fourth Strategic Objective. CIBAFI has conducted several successful Technical Workshops, including Technical Workshop on Islamic Capital Market which was hosted by the Emirates Securities and Commodities Authority (SCA), Technical Workshop on Islamic Banking hosted by the Saudi Arabian Monetary Agency (SAMA), Institute of Banking (IOB) as well as Bank of Khartoum In-House Training Programme, Mauritania Training Programme hosted by the Banque al Wava Mauritanienne Islamique (BAMIS), and the Kazakhstan Training Programme hosted by the National Bank of Kazakhstan (NBK), etc. To provide a strong and continuous support on the industry through strengthening the quality of human resources in Islamic finance, CIBAFI plans to conduct another Technical Workshops and number of other professional training programmes during this year.

CIBAFI focus and efforts are determined towards achieving its four key Strategic Objectives in order to strengthen its role as the global umbrella of Islamic financial institutions. Other initiatives are being planned in all four Strategic Objectives. Stay tuned.