Cibafi and World Bank launch joint conference

Muscat: The General Council for Islamic Banks and Financial Institutions (Cibafi), the global umbrella of Islamic financial institutions and the World Bank, have launched the second Cibafi–World Bank Conference.
The topic was titled '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 Berhad 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, multilateral institutions, international and national regulatory bodies, policy-makers, and academia to discuss emerging issues and the best practices in light of recent corporate governance developments. The conference was attended by more than 200 active delegates from 25 countries.
The welcoming remarks were presented by Abdelilah Belatik, Secretary General, Cibafi; Abayomi Alawode, Lead Financial Sector Specialist & Head of Islamic Finance, the World Bank; Abdulhameed M. Aboumoussa, Cibafi Deputy Chairman and Governor, Faisal Islamic Bank of Egypt; and Dato’ Haji Mohd Redza Shah Abdul Wahid, Cibafi Board of Directors Member and Chief Executive Officer, Bank Muamalat Malaysia Berhad.
The conference also witnessed a special keynote address that was delivered by Wimboh Santoso, Chairman of the Board of Commissioners, Financial Services Authority (OJK), Indonesia.
The opening panel, themed “Outlook of Recent Corporate Governance Practices of Islamic Banks” was chaired by Musa Abdulaziz Shihadeh, Cibafi Board of Directors Member, Chief Executive Officer & General Manager, Jordan Islamic Bank, Jordan. Among the panelists who shared their valuable insights on this topic were: Dr Bello Lawal Danbatta, Secretary General, Islamic Financial Services Board (IFSB), Malaysia; Prof. Dato’ Dr Azmi Omar, President & Chief Executive Officer, International Centre for Education in Islamic Finance (INCEIF), Malaysia; Dr Ashraf Gamal El-Din, Chief Executive Officer, Hawkamah, Institute of Corporate Governance, United Arab Emirates; and Luke Ombara, Director - Regulatory Policy & Strategy, Capital Markets Authority, Kenya.
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 finance globally including in the developing markets in the area of Corporate Governance.