Cibafi, World Bank launch second joint conference to elevate Islamic finance
KUCHING: The General Council for Islamic Banks and Financial Institutions (Cibafi), the global umbrella of Islamic financial institutions and the World Bank have successfully launched the second Cibafi– World Bank Conference on Corporate Governance of Islamic Financial Institutions: Overcoming Challenges and Implementing Best Practices that was held in Sasana Kijang, Kuala Lumpur, Malaysia.
The conference was organised in partnership with Bank Muamalat Malaysia Bhd and supported by Malaysia World’s Islamic Finance Marketplace ( Bank Negara Malaysia).
It endeavoured to bring together leading corporate governance stakeholders from the Islamic finance industry, mult i lateral inst itutions, international and national regulatory bodies, pol icymakers, and academia to discuss emerging issues and the best practices in light of recent corporate governance developments.
The conference was attended by more than 20 0 act ive delegates from 25 countries.
The welcoming remarks were presented by Abdelilah Belatik, Cibaf i Secretary General ; Abayomi Alawode, Lead Financial Sector Specialist and Head of Islamic Finance, the World Bank; Abdulhameed M Aboumoussa, Cibafi deputy chairman and governor, Faisal Islamic Bank of Egypt; and Datuk Mohd Redza Shah Abdul Wahid, Cibafi board of directors member and chief executive of f icer, Bank Muamalat Malaysia Berhad.
The conference has also witnessed a special Keynote Address that was delivered by Wimboh Santoso, Chairman of the Board of Commissioners, Financial Services Authority (OJK), Indonesia.
The conference was organised as part of the MOU signed between Cibafi and the World Bank that aims to reinforce both CIBAFI’s and the World Bank’s commitment to help foster the development of Islamic f inance globally including in the developing markets in the area of Corporate Governance.