CIBAFI forum on sustainable growth

Manama  : General Council of Islamic Banks and Financial Institutions, the umbrella of Islamic financial institutions on the occasion of its 15th Anniversary launched its Global Forum “Rethinking Values for Sustainable Growth” at the Four Seasons Hotel, Manama.

The two-day forum, organised under the patronage of the Central Bank of Bahrain, brought together stakeholders from the Islamic finance industry, multilateral development institutions, international and national regulatory bodies, policy-makers, and academia to discuss the key emerging issues within the industry.  The forum was attended by delegates from more than 28 countries. 

Abdelilah Belatik, Secretary General, of CIBAFI,  Musa A. Shihadeh, CIBAFI BoD member and Chief Executive Officer & General Manager, of the Jordan Islamic Bank, have welcomed forum delegates with their welcoming and Rasheed Al Maraj, Governor of the Central Bank of Bahrain keynote address.

A special keynote address guest, the renowned Emerging Markets and Asset Management Guru, Dr. Mark Mobius, Executive Chairman, Franklin and Templeton Asset Management kept up the momentum of the forum. The inspiring special keynote address emphasised on main thoughts as to how finance can contribute to sustainable growth of the economy, and some insights on how financial markets in the global and emerging markets are expected to perform. The speech also covered expert views on MENA and emerging markets including the impact of oil prices on economies, as well as assessment of and what structural reforms are required to spur good growth.  

The second-day of the forum will continue with an exclusive “CIBAFI Breakfast Session”, where Professor Dr. Mehmet Asutay from Durahm University and Dr. Muhammad Amjad Saqib from Akhuwat Foundation will share their unique insights.  The session will be followed by a “Frontier Markets Dialogue”, where Ambassadors from various parts of the globe will share their country perspectives on investment and Islamic finance. Forum will be concluded by a special FinTech and Digital Financial services session, where experts from Senegal, United Arab Emirates and Luxembourg will share the latest developments and potential of the sector.

Commenting on the forum, Abdelilah Belatik, Secretary General of CIBAFI said: “On the occasion of 15th Annivesary we are delighted to be able to have all of our stakeholders here with us today, engaging in a constructive forward looking dialog. I would like to extend our thanks and appreciation to the Central Bank of Bahrain for its patronage to this Forum. Our thanks also go to the Economic Development Board of Bahrain, Al Baraka Banking Group and Jordan Islamic Bank, the Islamic International Arab Bank, as well as to our new member Path Solutions for their support to this forum.”