CIBAFI virtual roundtable meeting on sustainability guide for Islamic banking industry, held today

CIBAFI reinforces its commitment to support sustainability and responsible business practices within the Islamic financial service industry (IFSI)

  
CIBAFI virtual roundtable meeting on sustainability guide for Islamic banking industry, held today

Manama, Kingdom of Bahrain : The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions held today a Virtual Roundtable Meeting on Sustainability Guide for Islamic Banking Industry.

CIBAFI reinforces its commitment to support sustainability and responsible business practices within the Islamic financial service industry (IFSI). This roundtable meeting brought together international prominent experts in leading organisations to discuss different aspects of developing CIBAFI Sustainability Guide for the Islamic banking industry. The closed meeting was attended by CIBAFI Sustainability Working Group (SWG) members, regulators, and international industry experts.

CIBAFI Secretary General, Dr. Abdelilah Belatik inaugurated the discussions by welcoming the distinguished speakers and participants of the Roundtable Meeting. In his opening speech, Dr. Belatik stressed on the growing importance of sustainability within the Islamic financial services industry and how CIBAFI is taking part to help Islamic banks integrate sustainability within their strategies and operational activities.

During the meeting, the speakers discussed the key focal areas and related challenges in developing CIBAFI Sustainability Guide. The participants also highlighted the latest trends and best practices in implementing sustainability and value-based guidelines, including success factors in sustainability practices. The Roundtable Meeting was divided into four sessions focusing on sustainability integration, governance, reporting and impact assessment and monitoring and market acceptance. The sessions specifically discussed how institutions integrate sustainability within their strategies and provided insights into governance role in implementing these strategies across business activities, ensuring overall accountability. Lastly, the meeting provided an overview of sustainability reporting standards and impact assessment practices as well as monitoring frameworks and strategies within the existing global sustainability guidelines and practices.

The meeting sessions were moderated by Professor Mehmet Asutay, Professor of Middle Eastern and Islamic Political Economy & Finance, Durham University Business School, England, and Dr. Dalal Aassouli, Assistant Professor and Program Coordinator, Hamad Bin Khalifa University, Qatar. Among the industry experts who shared their insights during the sessions were Mr. Martin Rohner, Executive Director, Global Alliance for Banking on Values (GABV), Netherlands; Mr. Marco Van Der Ree, Chief Development Officer, Global Reporting Initiative (GRI), Netherlands; Dr. Ali Adnan Ibrahim, First Vice President - Head of Social & Sustainable Finance, Al Baraka Banking Group, Bahrain; Mr. Rafee Haneef, Group Chief Sustainability Officer, CIMB Group, Malaysia; Mr. Pietro Bertazzi, Global Director Policy Engagement - Carbon Disclosure Project (CDP), CDP Global, Netherlands; Dr. Philipp Wackerbeck, Partner, Strategy& Germany; Ms. Johanna Dicht, Sustainability Expert & Implementation Support Manager, United Nations Environment Programme Finance Initiative (UNEP FI), Switzerland; and Dr. Adriana Kocornik-Mina, Senior Manager of Metrics and Research, Global Alliance for Banking on Values (GABV), Netherlands.

This initiative aligns with CIBAFI’s objective, Advocacy of Islamic Finance Values and Related Policies & Regulations. CIBAFI will continue to support the Islamic financial industry through specific activities and initiatives which promote growth, uphold ethical practices and Islamic finance values in all financial dealings and transactions and facilitate cooperation between members and institutions of common interest.

-Ends-

About the General Council for Islamic Banks and Financial Institutions (CIBAFI)

CIBAFI is an international organisation established in 2001 and headquartered in the Kingdom of Bahrain. CIBAFI is affiliated with the Organization of Islamic Cooperation (OIC). CIBAFI represents the Islamic financial services industry globally, defending and promoting its role, consolidating co-operation among its members, and with other institutions with similar interests and objectives. CIBAFI is currently representing market players, international intergovernmental organisations and professional firms, and industry associations with over 130 members from 34 jurisdictions.

For more information about CIBAFI, please visit www.CIBAFI.org  

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases