Islamic finance reinterpreted at Global forum

June 14, 2016

A who’s who of the world’s top Islamic finance figures convened at the Four Seasons Hotel Bahrain Bay on 3rd – 4th May to tackle the theme of “Rethinking Values of Sustainable Growth”, at the General Council for Islamic Banks and Financial Institutions (CIBAFI) Global Forum.

Held under the patronage of the Central Bank of Bahrain (CBB) and in partnership with the Bahrain Economic Development Board (EDB), the CIBAFI Global Forum was attended by delegates from over 28 countries representing international and national regulatory and policy-making bodies, financial institutions and academia.
Islamic finance industry leaders provided critical insight into the issues that most urgently impact the growth and stability of the industry today. Experts stressed on the need to shift away from prioritising shareholders, to championing stakeholders and Environment, Social, Governance (ESG) practices. Accordingly, experts exchanged ideas and strategies for the enhancement of regulation, governance, innovation, social responsibility and investments.
Forum delegates were greeted by Mr. Abdelilah Belatik, Secretary General of CIBAFI, and Mr. Musa A. Shihadeh, CIBAFI Board Member and Chief Executive Officer & General Manager of the Jordan Islamic Bank. A Keynote Address was delivered by H.E. Rasheed Mohammed Al Maraj, Governor of the CBB, and the special keynote guest was Dr. Mark Mobius, Executive Chairman of Templeton Emerging Markets Group.
Speaking about the Forum, H.E. Sheikh Saleh A.Kamel, Chairman of CIBAFI, said:
“This Forum is well-thought out in terms of delivering insights for creating long-term value and performance in the industry, and to unlock the potential of Islamic finance in today’s business environment. The Forum is an important step towards reiterating the value-based system that forms the core of Islamic finance.”
The CIBAFI Global Forum is the latest addition to Bahrain’s busy roster of Islamic finance events. With an Islamic finance sector dating back to the 1970s, Bahrain boasts the world’s largest concentration of Islamic financial institutions and today ranks 2nd worldwide in Islamic Finance. So it’s only natural that Bahrain is regarded as a global Islamic finance hub and a magnet for key international events such as the World Islamic Banking Conference and the AAOIFI World Bank Annual Conference on Islamic Banking & Finance.
Established and headquartered in Bahrain since 2001, CIBAFI is an assembly of leading Islamic finance institutions comprised of over 120 members from over 30 countries.
CIBAFI aims to strengthen and support the development of the Islamic finance industry through the advocacy of regulatory, financial and economic, thought leadership and professional development.
It is an affiliate of the Organization of Islamic Cooperation (OIC).
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