Latest news with #IslamicBankingOperations
Biz Bahrain
26-06-2025
- Business
- Biz Bahrain
CIBAFI Launches GIBS 2025 Report on AI and Data Analytics and the Digital Momentum Guide
The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, successfully held today a webinar titled 'AI and Data Analytics: Revolutionizing Islamic Banking Operations and Services,' marking the soft launch of the tenth edition of the Global Islamic Bankers' Survey (GIBS) 2025 Report. This edition of the GIBS Report explores the expanding role of artificial intelligence (AI) and data analytics in transforming Islamic banking operations, service delivery, and risk management. It captures insights from 105 executives across 29 countries, providing valuable regional perspectives and industry benchmarks. The webinar opened with remarks from Dr. Abdelilah Belatik, Secretary General of CIBAFI, who stated: 'Marking the 10th anniversary of the GIBS initiative, this year's findings reflect an industry on the brink of a technological shift. While AI adoption is still early, its strategic value is increasingly recognized. CIBAFI's role is to support this transition through dialogue, research, and capacity building. We hope this milestone report will guide Islamic financial institutions in shaping effective, forward-looking AI strategies.' Following Dr. Belatik's remarks, Ms. Jenni Denniston, Director of Business Development at Ivey Business School, announced the upcoming Joint Executive Programme with CIBAFI, aimed at equipping executive managers with strategic leadership skills in AI and digital transformation within Islamic banking. Dr. Muhammad Bilal, Project Manager – Research & Regulatory Affairs, shared insights from the GIBS, such as the growing strategic importance of AI in Islamic banking. He noted that adoption remains limited due to high costs, lack of expertise, and concerns over cybersecurity and credit risks. The webinar also featured expert insights from distinguished speakers, including Mr. Peter Casey, Consultant; Dr. Ahmed Tahiri Jouti, Founder of NeuronAIze and Managing Partner at Green For South; and Mr. Yasser Rahrovani, Associate Professor, Information Systems, Ivey Business School, who shared practical perspectives on the evolving digital landscape in Islamic finance. The session was moderated by Mr. Rachid Ettaai, Business Development Manager, CIBAFI. CIBAFI extends its sincere appreciation to its Supporting Partner, DDCAP Group, for their valuable contribution to the successful launch of the GIBS 2025 Report and continued support in promoting innovation in the Islamic financial services industry. In conjunction with the webinar, CIBAFI also launched the Digital Momentum Guide: Impact on Islamic Banks and Guidelines for Adaptability, which offers practical insights and strategies for Islamic banks to remain agile, innovative, and Shariah-compliant in an evolving digital landscape. To download Digital Momentum: Impact on Islamic Banks and Guidelines for Adaptability, click here.
Daily Tribune
21-04-2025
- Business
- Daily Tribune
BisB Gold Sponsor for AAOIFI 23rd Annual Shari'ah Boards Conference
Bahrain Islamic Bank (BisB), the leading provider of innovative Islamic financial solutions for simplifying money matters in the Kingdom of Bahrain, has announced its participation as the Gold Sponsor of the upcoming Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) Conference. Scheduled to take place on the 20th and 21st of April 2025 at the Crowne Plaza Manama, the conference is a key gathering of Sharia'a scholars, regulators, and industry leaders from across the global Islamic finance sector. Winners awarded During the conference's opening ceremoney, and in coordination with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), BisB honoured the winners of BisB's third forum on Islamic Banking Operations, held in November 2024. The bank awarded Mr. Esam Mohammed Al Bastaki the first prize, which is a scholarship for postgraduate scholarship for the best research or academic project that contributes to development of the Islamic banking sector in Bahrain. Additionally, Mr. Mohammed Yaser Al Khudri was awarded the second prize, which is a one-year internship with the Sharia'a Supervisory Board of BisB. This initiative to honor the winners of BisB's third Forum on Islamic Banking Operations reflects the bank's commitment to enhancing Islamic banking practices and developing national competencies.
