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

Abdelilah BELATIK

Secretary General of CIBAFI

Welcome to the 43rd edition of the Global Islamic Economics Magazine (GIEM).  In this last edition of this year, as always, it has been our pleasure to keep you updated with the emerging issues and challenges, as well as the current development of the global Islamic finance industry. The GIEM also serves as the platform for CIBAFI to keep our members and other stakeholders updated on our activities and initiatives. 

 

As we are approaching the end of 2015, I would like to recall some of our important achievements and highlights of this year. We are delighted to share with you that CIBAFI has been successful in achieving all of its strategic goals and objectives this year, as laid down in its Strategic Plan 2015 – 2018, and I look forward to another rewarding year ahead.

 

CIBAFI attained great milestones in collaborating with different industry stakeholders and accomplished its ongoing task of advocacy for robust regulatory policies in the Islamic financial industry. As part of its 1st Strategic Objective: Policy, Regulatory Advocacy - CIBAFI participated and provided inputs at various high level consultative meetings, including the IMF External Advisory Group Meetings in Washington D.C., IASB Consultative Group in Malaysia and submitted its recommendations to various international bodies. These included but not limited to recommendations related to Islamic finance to the B-20 Turkey Financing Growth Taskforce; IMF & World Bank Policy Notes and Working Papers; OIC Strategic Plan; and comments on IFSB Exposure Draft on GN-6 on Quantitative Measures for Liquidity Risk Management. A pleasure to share that CIBAFI’s first Members Consultative Group (MCG) Meeting took place this month in Bahrain. We thank our members for their continuous support and we look forward to enhancing the quality of our deliverables with the advise and inputs from our MCG group.

 

Several research reports and publications were issued as part of the CIBAFI’s second strategic objective. Perhaps to highlight one is our inaugural flagship publication the Global Islamic Bankers’ Survey (GIBS 2015), which expressed the views of the Heads of 83 Islamic banks from 35 different countries. The survey measured the risk perceptions, identified growth drivers, top agenda, major concerns, optimism level and other important dimensions of the global Islamic financial industry. CIBAFI also published the proceedings of the CIBAFI - IDB Roundtable Meeting on Internationalization Strategies for IFIs, and issued Islamic Finance Country Reports on Oman, Malaysia and Kazakhstan, which identified the potential markets for the growth of Islamic finance.

 

In realizing its third strategic objective of Awareness and Information Sharing, CIBAFI held number of Roundtable Meetings and International Conferences. Most significant among them are the CIBAFI - IDB Roundtable Meeting on Internationalization Strategies for IFIs, CIBAFI - World Bank Annual International Conference on Corporate Governance, the 3rd Mediterranean Islamic Finance Forum, and the CIBAFI InFocus session on “Strategic options for Islamic banks in response to Basel III standards - The practitioners’ perspective”.

 

The most recent roundtable meeting was held in Kuala Lumpur, Malaysia on the 9 - 10 December 2015. The Roundtable Meeting, which was hosted by the International Center for Education in Islamic Finance (INCEIF), articulated various regulatory developments in Value Chain Islamic Finance and discussed practical insights on how to bring SMEs into the Global Value Chains through Islamic Value Chain Finance. The roundtable also explored strategic insights on issues from SMEs’ perspectives towards Islamic financial services.

 

Last but not the least, under the CIBAFIs’ fourth strategic objective of Professional Development, we have continued delivering a series of our Technical Workshops, that were hosted by regulators around the globe, National Bank of Kazakhstan, Saudi Arabia Monetary Agency, Emirate Securities & Commodities Authority. We have also successfully launched our new initiatives – series of Executive Programmes for senior management and board members, which were delivered in partnership with the Ivey Business School in August and Institution of International Finance (IIF) in September. I would also like to highlight activities of professional certifications offered by CIBAFI where more than 82 training programmes were conducted this year.

 

Evaluating this year, I would like to thank our Board of Directors for their guidance, Members of CIBAFI for their continuous support, stakeholders of the industry for their encouragement and support, and importantly, CIBAFI Secretariat for their hard work, dedication and deliverables!

 

We have concluded this year with CIBAFI’s 26th BOD meeting, which took place on 16th of December 2015 in Cairo, Egypt, and was kindly hosted by Faisal Islamic Bank of Egypt. During the meeting, the BOD members have praised the work of the Secretariat acknowledging the achievements and launch of new initiatives in 2015. The Board has also approved CIBAFIs’ Work Plan and the Budget for the year 2016, as well as accepted new members into the membership.

 

CIBAFI's 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 for the new year ahead as well. Stay tuned!