The General Council for Islamic Banks and Financial Institutions (CIBAFI), in partnership with the Participation Banks Association of Türkiye (TKBB), successfully convened a high-level webinar titled “Green Transformation and Sustainable Development in Islamic Finance,” bringing together global regulators, multilateral institutions, rating agencies, and industry leaders to advance the sustainability agenda within Islamic finance.

The joint webinar forms part of CIBAFI’s and TKBB’s continued efforts to strengthen sustainable finance practices and enhance the role of Islamic financial institutions in addressing climate risks and supporting global development goals. The session served as a dynamic platform to examine practical pathways for integrating ESG principles, managing climate transition risks, and scaling sustainable Islamic financial instruments.

The webinar opened with welcoming remarks from Ms. Zainab Al Owainaty, Director of Administration and Finance at CIBAFI, and Mrs. Fatma Çınar, Deputy Secretary General of TKBB, who both emphasized the urgency of coordinated action across the industry.

Ms. Al Owainaty highlighted the strategic importance of sustainability in shaping the future of Islamic finance, stating “Green transformation is no longer optional, it is an urgent necessity to ensure the long-term resilience, stability, and competitiveness of Islamic financial institutions. Sustainability constitutes a core objective within CIBAFI’s strategic priorities, reflecting our commitment to advancing responsible and value-based finance across the industry. Through our collaboration with TKBB, CIBAFI reaffirms its dedication to supporting members and stakeholders with the knowledge, standards, and practical frameworks required to align with global sustainability and development agendas”.

Mrs. Çınar emphasized the critical role of cross-border collaboration in the participation banking sector, stating: “TKBB is honored to collaborate with CIBAFI in fostering this vital dialogue at a time when climate-related risks are transforming the global financial landscape. Advancing sustainable finance and deepening ESG integration across participation banks remain central to TKBB’s strategic agenda. We are steadfast in our commitment to supporting our member institutions in strengthening governance structures, enhancing risk management frameworks, and expanding green financing capabilities. As climate risks continue to escalate, it is imperative for Islamic financial institutions to proactively embed ESG principles into their strategies and operations. This webinar demonstrates our joint resolve to equip the sector with the knowledge and tools necessary to effectively address these evolving challenges.”

The webinar also featured an engaging panel discussion with distinguished industry experts, including Mr. Berk Mesutoğlu, Head of the Strategy Development Department, Banking Regulation and Supervision Agency (BRSA); Mrs. Nadia Laribi, Senior Officer, Green Economy and Climate Finance, Global Green Growth Institute (GGGI); Mr. Rachid Ettaai, Assistant Director of Strategic Planning and Operations, CIBAFI and Dr. Mohamed Damak,  Managing Director / Sector Lead Financial Institutions & Global Head of Islamic Finance; S&P Global.

The panel delivered forward looking insights on climate transition risks, regulatory developments, ESG integration strategies, and the growing demand for sustainable Islamic financial instruments such as green sukuk. Speakers also addressed governance frameworks, implementation challenges, and the evolving expectations of investors and stakeholders.

The discussion reinforced the critical role Islamic banks can play in financing green innovation, supporting low carbon transitions, and mobilizing capital toward sustainable infrastructure and development projects.

This joint initiative underscores the deepening cooperation between CIBAFI and TKBB in promoting sustainable Islamic finance and reflects their shared vision of a more resilient, climate conscious, and future ready financial industry.

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) Strengthening CIBAFI’s Role in Representing and Advocating for the Industry; 2) Promoting sustainable growth and innovation, and providing technical support to the Islamic finance industry; 3) Enhancing Knowledge and Research in Islamic Finance; and 4) Professional Development and Capacity Building.

CIBAFI’s office is located at Deema tower, 7th Floor, Office 71, Building 657, Road 2811, Block 428, Manama, Kingdom of Bahrain.

For more information on CIBAFI, please contact:
CIBAFI Secretariat at email: media@cibafi.org

About Participation Banks Association of Türkiye (TKBB):

The Participation Banks Association of Türkiye is a public institution established in 2001 with the aim of representing the participation banking sector nationally and internationally, supporting the development of participation banking in Turkey, contributing to efforts to increase the sector's market share, developing professional principles and standards, and protecting the rights and interests of participation banks. TKBB works with public authorities, regulatory bodies, and other stakeholders to raise public awareness and understanding of the sector's contribution to the Turkish economy. TKBB has various working committees to support the priority issues of its member banks and runs comprehensive training programs. TKBB currently represents the participation banking sector in Turkey with 10 member participation banks.

For more information on TKBB, please contact:

TKBB at email: bilgi@tkbb.org.tr, Web Site: www.en.tkbb.org.tr