Manama, Kingdom of Bahrain: The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, has successfully concluded its Annual Meetings and Events on 9th May 2023, in Manama, Kingdom of Bahrain and Online. It featured the Professional Development and Human Empowerment Strategic Session, CIBAFI 23rd Annual General Meeting (AGM), and the CIBAFI Award 2023 Ceremony on “Sustainable Development, inclusive of Environmental, Social, and Governance (ESG) Practices”.

Professional development and human empowerment are critical components of an organisation's success, especially in the rapidly changing business landscape of digitization and sustainability. For this reason, CIBAFI gathered the professional development agents, human resource executives and managers, and other stakeholders to engage in insightful discussions on emerging issues related to training and professional empowerment within the Islamic finance industry.

The strategic session was inaugurated through welcoming remarks by Dr. Abdelilah Belatik, Secretary General of CIBAFI as well as special remarks from Dr. Faisal Mahmoud Atbani, Accreditation Board Member of CIBAFI and Assistant Professor of Law and Head of Risk Management & Insurance Department, King Abdulaziz University – Islamic Economic Institute, Saudi Arabia.

During the session, the speakers which included Dr. Mohamed Albltagi, Chairman of the Board, Egyptian Islamic Finance Association (EIFA), Egypt and Dr. Yousef Abdul Raouf Shannar, Executive Manager, Almashora Consulting & Training, Syria, shared the opportunities and challenges associated with E-learning platforms, drawing on local and global experiences. They discussed the ways in which modern technologies can be leveraged to enhance the level of training experience in Islamic finance. Furthermore, they emphasized on the role of professional development in promoting sustainability practices. The session was moderated by Mrs. Zainab Al Owainaty, Director of Administration and Finance at CIBAFI.

The strategic session was followed by the CIBAFI 23rd Annual General meeting (AGM). During the AGM, the Secretariat presented the Activities Report for the year 2022, the Membership Status Report, and the audited financial statements for the year 2022. CIBAFI Annual Meeting’s attendees praised the Secretariat's efforts for their commitment to delivering excellent outputs, wishing CIBAFI further success for the next period.

After the three successful editions of the CIBAFI Award in 2017, 2019 and 2021, CIBAFI Secretariat concluded the day by unveiling the winner of the 2023 Award and celebrated the remarkable achievements of the winner in the awarding ceremony. CIBAFI Award 2023 takes on a significant role, spotlighting "Sustainable Development inclusive of Environmental, Social, and Governance (ESG) Practices".

This year’s Award recipient is “Bank Islam Malaysia Berhad”, an exemplar and a dedicated bank towards incorporating sustainable development practices within its operations and transactions. The bank is leading the way towards a greener, more equitable, and responsible future through its responsible practices.

CIBAFI continues to support the Islamic financial services industry through various activities and initiatives. These initiatives include providing industry stakeholders with a platform to discuss emerging issues, representing the industry at major global financial events, and sharing knowledge through specialized publications and comprehensive training programmes.

About CIBAFI: 

The General Council for Islamic Banks and Financial Institutions (CIBAFI) is an international non-profit organization founded in 2001 by the Islamic Development Bank (IsDB) and a number of leading Islamic financial institutions. It is an affiliated organ to the Organisation of Islamic Cooperation (OIC). With over 130 members from more than 30 jurisdictions all around the world, CIBAFI is recognized as a key piece in the international architecture of Islamic finance. Its mission is to support the IFSI growth by providing specific activities and initiatives that leverage current opportunities while preserving the value proposition of Islamic finance. CIBAFI office is located at Jeera III, 7th Floor, Office 71, Building 657, Road 2811, Block 428, Manama, Kingdom of Bahrain.