28th July 2015, Manama, Kingdom of Bahrain - The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions and the World Bank are pleased to announce their joint international conference on "Corporate Governance for Islamic Financial Institutions: Lessons from Recent Global Developments", which is due to take place in Amman, Jordan on 15th and 16th September 2015. The one and half day conference, which is held under the patronage of the Central Bank of Jordan, aims to bring together various stakeholders from the private sector, multilateral development institutions, international and national regulatory bodies, policy-makers, and academia to discuss the issue of corporate governance in the Islamic financial services industry (IFSI).
Given the high growth of Islamic Financial Institutions (IFIs), stakeholders are highlighting the needs to adapt and implement proper corporate governance practices so that the potential contribution of Islamic finance to overall economic development is realized.
The conference's objective is to stimulate the discussion on the role of an effective regulatory and supervisory framework and risk management practices to improve the corporate governance of IFIs from both micro- and macro-prudential perspective. This event will facilitate the discussion of current practices and challenges of corporate governance among Islamic financial institutions in different jurisdictions, how those practices can be further enhanced and how existing challenges can be overcome.
Participants of the conference will have the opportunity to present their views on the challenges and opportunities faced by Islamic financial institutions with respect to global developments since the financial crisis.
The conference, which is being organized in the light of recently signed MoU between CIBAFI and the World Bank, also falls under CIBAFI's Strategic Objective, in increasing the awareness of Islamic Finance and promoting information sharing among its members and the industry stakeholders, as well as collaboration with World Bank Global Islamic Finance Development Center in Istanbul with the objective to enhance knowledge on critical issues facing the industry.
For more information on the programme and registration details please contact Email on events@cibafi.org or phone: +973 1735 7311
About the General Council for Islamic Banks and Financial Institutions (CIBAFI)
CIBAFI is an international organization established in 2001 and Headquartered in the Kingdom of Bahrain. CIBAFI is affiliated with the Organization of Islamic Cooperation (OIC).
CIBAFI represents the Islamic financial services industry globally, defending and promoting its role, consolidating co-operation among its members, and with other institutions with similar interests and objectives.
With nearly 120 members over 30 jurisdictions, representing market players, international intergovernmental organizations and professional firms, and industry associations.
For more information about CIBAFI, please visit www.CIBAFI.org
Tel: +973 17357300 Email: media@cibafi.org
About World Bank
The World Bank Group is the largest anti-poverty institution in the world, offering loans, advice, knowledge, and an array of customized resources to more than 100 developing countries and countries in transition. Established in 1944 and headquartered in Washington DC, the Bank Group is a specialized agency of the United Nations that is made up of 188 member countries. It works with country governments, the private sector, civil society organizations (CSOs), regional development banks, think tanks, and other international institutions on a range of issues--from climate change, conflict, and food crises to education, agriculture, finance, and trade--with the sole purpose of meeting two goals: ending extreme poverty by 2030 and boosting shared prosperity of the bottom 40 percent of the population in all developing countries.
World Bank | www.worldbank.org/financialsector
© Press Release 2015
