Manama, Kingdom of Bahrain, Dhaka, Bangladesh | General Council for Islamic Banks and Financial Institutions, the global umbrella of Islamic financial institutions, launched this morning its Technical Workshop on Liquidity Management Tools for Islamic Financial Institutions (IFIs), which is kindly hosted by Islami Bank Bangladesh, CIBAFI Board Of Directors (BOD) member bank.

This morning at Pan Pacific Hotel Dhaka, CIBAFI Technical Workshop was opened by welcoming and opening addresses of Mr. Abdelilah Belatik, Secretary General, CIBAFI; Mr. Arastoo Khan, Chairman, Board of Directors, IBBL; Dr. Mashiur Rahman, Advisor to the Prime Minister, Economic Affairs, The People's Republic of Bangladesh; Mr. Md. Mahbub ul Alam, Managing Director & CEO, IBBL; and Mr. Abdur Rouf Talukder, Additional Secretary, Ministry for Finance.

The two days Technical Workshop will provide participants with a hands-on technical knowledge and skills on liquidity management tools for Islamic financial institutions (IFIs) with focus on Money Market operations and the liquidity management instruments used in the Islamic financial system.

Commenting on the Technical Workshop, Mr. Abdelilah Belatik, Secretary General of CIBAFI said: “CIBAFI is for its first time in Bangladesh, and we are pleased to offer this Technical Workshop to our stakeholders in the region. I am also thankful for the support that we receive from our BOD member bank – Islami Bank Bangladesh. This Technical Workshop is a timely initiative as shariah compliant liquidity management tools are at high demand locally.  Banks are in need of these tools and we hope that todays programme will facilitate and ease the banks burden in this regard.”

Commenting on the Technical workshop Mr. Arastoo Khan, Chairman, Board of Directors, IBBL, said: “As a member of CIBAFI Board of Directors, it is my pleasure to host CIBAFI today in Bangladesh and to address practical elements of liquidity management for Islamic Financial Institutions in Bangladesh.  This is part of our banks commitment to continue developing banking sector in Bangladesh and strengthen not only our bank with this new knowledge and skills but also open an opportunity for other Islamic banks to participate in the programme and join CIBAFI membership.”

From today till Thursday, delegates representing Islamic banks and financial institutions as well as Regulatory and Supervisory Authorities (RSAs), will be engaged in the discussion on the current environment of the liquidity management regulatory requirement and required tools for Islamic Financial Institutions (IFIs) to comply with it. Technical Workshop will include discussions and debate on real industry case studies.

The initiative is aligned with CIBAFI’s fourth Strategic Objective of Professional Development, and in particular CIBAFI’s endeavor to enhance capacity building in the Islamic Financial Services Industry (IFSI). CIBAFI, as the ‘voice’ of the industry, aims to provide platforms such as these to develop human capital and bring industry professionals together to encourage dialogue and enhance knowledge sharing on more relevant matters of the IFSI.

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

CIBAFI is an international organization 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. With over 120 members from more than 30 jurisdictions, representing market players, international intergovernmental organizations and professional firms, and industry associations.

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

Tel: +973 17357300  Email: media@cibafi.org 

© Press Release 2018