Latest news with #AbdelilahBelatik
Biz Bahrain
21-05-2025
- Business
- Biz Bahrain
CIBAFI Launches In-House Training on Islamic Risk Management for Banque Saudi Fransi
The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, is pleased to announce the launch of an in-house training programme on the Certified Islamic Specialist in Risk Management for senior employees of Banque Saudi Fransi. This programme marks the first collaboration between CIBAFI and Banque Saudi Fransi, representing a significant step toward enhancing professional capabilities in Islamic finance within the Kingdom of Saudi Arabia. The specialized training is designed to deepen participants' understanding of risk management principles from an Islamic finance perspective, equipping them with the tools and techniques to identify, assess, and mitigate risks in alignment with Shariah-compliant practices. It also features practical case studies and applications tailored to the banking environment. On this occasion, Dr. Abdelilah Belatik, Secretary General of CIBAFI, stated: 'In an era marked by uncertainties and transformative shifts in the global financial landscape, empowering professionals with the knowledge and skills to manage risk effectively has never been more critical. Robust risk management is fundamental to ensuring the resilience and long-term sustainability of Islamic financial institutions. CIBAFI is committed to supporting institutions like Banque Saudi Fransi in their engagement to strengthening internal capacity through practical and Shariah-compliant training initiatives.' This initiative reflects CIBAFI's continued commitment to developing human capital and promoting sound risk management practices across the Islamic financial services industry. It forms part of CIBAFI's broader efforts to enhance professional competencies and respond to the evolving needs of the industry through dynamic, high-quality, and context-specific training programmes. About CIBAFI: CIBAFI is an international non-profit organisation founded in 2001 by the Islamic Development Bank (IsDB) and a number of leading Islamic financial institutions. CIBAFI is affiliated with the Organisation of Islamic Cooperation (OIC). With more than 140 members from over 30 jurisdictions all around the world, CIBAFI is recognised as a key piece in the international architecture of Islamic finance.
Biz Bahrain
23-04-2025
- Business
- Biz Bahrain
CIBAFI, in Collaboration with the Central Bank of Bahrain, Launches a Technical Workshop on Climate Action in Islamic Finance
The General Council for Islamic Banks and Financial Institutions (CIBAFI), in collaboration with the Central Bank of Bahrain (CBB), today launched a two-day technical workshop titled 'Advancing Climate Action in Islamic Finance: Practical Insights on GHG Measurement & Reporting', in Manama, Kingdom of Bahrain. Held in response to the growing urgency surrounding climate change and sustainability, the workshop is part of CIBAFI's strategic efforts to build capacity within the Islamic financial services industry (IFSI). It provides participants with practical tools and knowledge to measure and report greenhouse gas (GHG) emissions in alignment with global standards. Dr. Abdelilah Belatik, Secretary General of CIBAFI, reaffirmed the organization's commitment to advancing sustainability in Islamic finance. He highlighted CIBAFI's alignment with the declaration made by Islamic finance infrastructure organizations at COP28, noting that the GHG measurement tool developed by CIBAFI is a key step in helping Islamic Financial Institutions (IFIs) integrate climate action into their operations. He also pointed to growing regulatory expectations in countries where Islamic finance is practiced, and noted that this workshop aims to support banks in meeting these requirements by enhancing their climate risk management. Ms. Zainab Al Owainaty, Director of Administration and Finance at CIBAFI, inaugurated the workshop with opening remarks, welcoming participants and highlighting the pivotal role CIBAFI plays in building capacities to meet evolving sustainability expectations. She emphasized CIBAFI's commitment to providing practical solutions that support the implementation of effective climate strategies across the sector, and the importance of collaboration between financial institutions and regulatory bodies to achieve sustainability goals. She noted that CIBAFI continually strives to offer necessary support to the industry through effective training programs aimed at enhancing awareness of sustainability and its application in daily operations. Following the opening, Mr. Ali Haroon Alaamer, Director of the Capital Markets Supervision Directorate at the Central Bank of Bahrain, delivered a keynote speech highlighting the transformative potential of Islamic finance in addressing climate change. He emphasized the alignment between Islamic finance principles and sustainability, pointing to instruments such as green sukuk, Takaful, and Islamic social finance as powerful tools for climate action. Mr. Alaamer also outlined the CBB's ESG disclosure framework, stressing the importance of regulatory initiatives in advancing environmental stewardship and reinforcing Bahrain's commitment to global sustainability standards. Senior representatives from Islamic banks, financial institutions, regulatory bodies, and other key stakeholders are participating in the workshop. The programme features interactive sessions on GHG accounting and practical exercises using CIBAFI's GHG emissions measurement tool. It provides a valuable platform for industry professionals to enhance their sustainability reporting capabilities while ensuring alignment with Shariah principles. The workshop is being delivered by Dr. Wael Mohamed Aaminou, Managing Partner at Green for South. CIBAFI extends its appreciation to the Central Bank of Bahrain for its valuable support and to all speakers and participants contributing to the success of this important initiative.
Biz Bahrain
05-03-2025
- Business
- Biz Bahrain
CIBAFI Launches Comprehensive Report on Digital Transformation and Adaptability for Islamic Banks, Attracting Over 400 Participants
The General Council for Islamic Banks and Financial Institutions (CIBAFI) successfully launched its latest guide through a webinar titled 'Digital Momentum: Impact on Islamic Banks and Guidelines for Adaptability.' This webinar is part of CIBAFI's ongoing initiatives under its Innovation and Technology Working Group (ITWG), which was established to encourage IFIs to integrate technology into their operations. The session featured the introduction of CIBAFI's guide, Digital Momentum: Impact on Islamic Banks and Guidelines for Adaptability, which provides Islamic banks with insights and practical guidance on adopting emerging technologies in the industry. The webinar opened with welcoming remarks from Dr. Abdelilah Belatik, Secretary General of CIBAFI, and featured a speech by Dr. Hilal Houssain, Associate Manager at the Islamic Development Bank Institute, Saudi Arabia. Commenting on CIBAFI's efforts to promote innovation and technology, Dr. Belatik said: 'Digital transformation is not just an option — it is imperative for the sustainable growth of IFIs. As part of CIBAFI's commitment to technology-driven initiatives, we are pleased to publish this guide, which provides a strategic roadmap to help Islamic banks navigate their digital journey successfully.' He added, 'We hope this guide will serve as a valuable reference, supporting banks in their efforts to embrace digital transformation. Beyond providing guidance, CIBAFI is also keen to support the industry in integrating digitalization through concrete implementation initiatives that drive meaningful progress.' The session continued with a detailed presentation by Mr. Rachid Ettaai, Business Development Manager at CIBAFI, on the newly launched report. He highlighted its key strategies and recommendations. The webinar also featured an engaging panel discussion with distinguished industry experts, including Mr. Andrew Cunningham, Founder and Managing Director of Darien Analytics, UK; Dr. Okan Acar, Chief Digital Banking and Payment Systems Officer at Kuveyt Türk, Türkiye; Mr. Haroon Shahban, Director at EY Bahrain; and Mrs. Azleena Idris, Senior Director and Head of Strategy & ESG Office at Payment Network Malaysia. The panel addressed key topics such as leveraging technology for innovation in Islamic banking, building blocks for a digital transformation strategy, and emerging trends like AI, DeFi, and cryptocurrencies. They also discussed governance, risk, and compliance challenges in the digital era. This guide was developed with the support of the Islamic Development Bank Institute (IsDBI). CIBAFI acknowledges and appreciates IsDBI's contributions to advancing digital transformation in Islamic finance. CIBAFI remains committed to supporting the growth and development of the Islamic finance industry by providing thought leadership, innovative solutions, and capacity-building initiatives.
Zawya
04-03-2025
- Business
- Zawya
CIBAFI launches comprehensive report on digital transformation and adaptability for Islamic Banks, attracting over 400 articipants
Manama, Kingdom of Bahrain | The General Council for Islamic Banks and Financial Institutions (CIBAFI) successfully launched its latest guide through a webinar titled 'Digital Momentum: Impact on Islamic Banks and Guidelines for Adaptability.' This webinar is part of CIBAFI's ongoing initiatives under its Innovation and Technology Working Group (ITWG), which was established to encourage IFIs to integrate technology into their operations. The session featured the introduction of CIBAFI's guide, Digital Momentum: Impact on Islamic Banks and Guidelines for Adaptability, which provides Islamic banks with insights and practical guidance on adopting emerging technologies in the industry. The webinar opened with welcoming remarks from Dr. Abdelilah Belatik, Secretary General of CIBAFI, and featured a speech by Dr. Hilal Houssain, Associate Manager at the Islamic Development Bank Institute, Saudi Arabia. Commenting on CIBAFI's efforts to promote innovation and technology, Dr. Belatik said: "Digital transformation is not just an option — it is imperative for the sustainable growth of IFIs. As part of CIBAFI's commitment to technology-driven initiatives, we are pleased to publish this guide, which provides a strategic roadmap to help Islamic banks navigate their digital journey successfully." He added, "We hope this guide will serve as a valuable reference, supporting banks in their efforts to embrace digital transformation. Beyond providing guidance, CIBAFI is also keen to support the industry in integrating digitalization through concrete implementation initiatives that drive meaningful progress." The session continued with a detailed presentation by Mr. Rachid Ettaai, Business Development Manager at CIBAFI, on the newly launched report. He highlighted its key strategies and recommendations. The webinar also featured an engaging panel discussion with distinguished industry experts, including Mr. Andrew Cunningham, Founder and Managing Director of Darien Analytics, UK; Dr. Okan Acar, Chief Digital Banking and Payment Systems Officer at Kuveyt Türk, Türkiye; Mr. Haroon Shahban, Director at EY Bahrain; and Mrs. Azleena Idris, Senior Director and Head of Strategy & ESG Office at Payment Network Malaysia. The panel addressed key topics such as leveraging technology for innovation in Islamic banking, building blocks for a digital transformation strategy, and emerging trends like AI, DeFi, and cryptocurrencies. They also discussed governance, risk, and compliance challenges in the digital era. This guide was developed with the support of the Islamic Development Bank Institute (IsDBI). CIBAFI acknowledges and appreciates IsDBI's contributions to advancing digital transformation in Islamic finance. CIBAFI remains committed to supporting the growth and development of the Islamic finance industry by providing thought leadership, innovative solutions, and capacity-building initiatives. About CIBAFI: CIBAFI is an international non-profit organisation founded in 2001 by the Islamic Development Bank (IsDB) and a number of leading Islamic financial institutions. CIBAFI is affiliated with the Organisation of Islamic Cooperation (OIC). With more than 140 members from over 30 jurisdictions all around the world, CIBAFI is recognised as a key piece in the international architecture of Islamic finance. In its mission to support the Islamic financial services industry growth by providing specific activities and initiatives that leverage current opportunities while preserving the value proposition of Islamic finance, CIBAFI is guided by its Strategic Objectives, which are, 1) Advocacy of Islamic Finance Values and Related Policies & Regulations; 2) Sustainability and Innovation Integration; 3) Industry Research and Analysis; and 4) Professional Development. CIBAFI office is located at Deema tower, 7th Floor, Office 71, Building 657, Road 2811, Block 428, Manama, Kingdom of Bahrain.
