CIBAFI launches 2015 activity report

Manama: The General Council for Islamic Banks and Financial Institutions (CIBAFI) has launched its Activity report for 2015, which underpins CIBAFIs commitment in delivering its Stakeholders’ centric Strategic Plan 2015 – 2018.

The plan was revealed during its 29th Board of Directors meeting and its 16th Annual General Meeting (AGM) and Extra Ordinary General Meeting (EGM) held in Hilton Hotel Jeddah, Saudi Arabia on June 13. The meetings were chaired by Sheikh Saleh A. Kame. 

The meeting also gave nod to the concept note of the CIBAFI Award, which aims to recognise and showcase institutions that are providing an outstanding example to the industry. Financial statements for year 2015 was approved during the meeting. 

Commenting on the meeting, Abdelilah Belatik, Secretary General of CIBAFI said: “With regards to Research and Publications, I am pleased to share that we have successfully delivered our inaugural “Global Islamic Bankers’ Survey” flagship publication, which is the first in its kind where 83 CEOs of Islamic banks from 35 countries from all regions of the world shed light on the current state of Islamic finance development, its prospects for the future, the risks that it is facing and the organic drivers of sustainable growth. With regards to Awareness and Information Sharing, we have successfully completed CIBAFI - World Bank Conference in Jordan as well as the 3rd Mediterranean Forum in Barcelona, Spain and various other Roundtable Meetings in GCC, North Africa & South East Asia.”

Extra-ordinary General Meeting has reviewed and approved amendments to the articles of association of CIBAFI, the main governing document of the Council.

In line with this, CIBAFI has also admitted seven new members into CIBAFI membership from Australia, Kuwait, Mauritania, Turkey and United Arab Emirates.