CIBAFI and The BIBF Sign MoU to Advance Innovation and Sustainability in Islamic Finance
Through this strategic alliance, CIBAFI and the BIBF aim to address the evolving needs of the Islamic finance industry by embracing emerging technologies and advancing digital innovation. Their collaboration will support institutional transformation and human capital development through the delivery of specialised conferences, training programmes, and research initiatives in Bahrain and internationally.
The MoU was signed by Dr. Abdelilah Belatik, Secretary General of CIBAFI, and Dr. Ahmed Al Shaikh, Chief Executive Officer of the BIBF, during a formal ceremony held at the BIBF's headquarters in Manama, Kingdom of Bahrain.
Dr. Abdelilah Belatik stated: 'This MoU supports CIBAFI's strategic objective of fostering impactful collaboration and advancing the Islamic finance industry. In today's dynamic landscape, innovation and sustainability are essential for long-term relevance and resilience. We are pleased to partner with the BIBF, a leading provider of professional education in the Kingdom of Bahrain and outside, to exchange expertise and co-develop forward-looking programmes.'
Dr. Ahmed Al Shaikh added: 'We are pleased to sign this partnership between the BIBF and CIBAFI, which brings together two leading institutions committed to shaping the future of Islamic finance. By combining our academic and training capabilities with CIBAFI's global industry perspective, we will strengthen the sector's digital resilience, promote sustainability, and accelerate the integration of next-generation technologies across Islamic financial institutions.
This strategic partnership highlights the shared commitment of both institutions to advancing the long-term sustainability and global relevance of Islamic finance through initiatives that champion technological innovation, academic excellence, and thought leadership.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
a day ago
- Daily Tribune
Bahrain registers over 1,700 investment funds by Mid-2025
More than 1,700 investment funds were registered in Bahrain by mid-2025, most of them foreign. The figures point to the Kingdom's continued role as a booking centre for cross-border fund activity. Data from the Central Bank of Bahrain show that 1,733 funds had been licensed and recorded by the end of June. Of these, 60 were based locally. The rest, largely offshore, operate elsewhere but are registered in Bahrain under its financial laws. Together, the registered funds held around 11.269 billion US dollars in net assets as of March 2025. Foreign funds made up the bulk, with 1,673 entries showing a combined asset value of 6.858 billion dollars. These entities use Bahrain's legal framework but are usually managed abroad. Home-based funds were fewer in number. The local register included 51 public funds, with 27 following conventional models and 24 structured in line with Islamic finance. There were also 9 private funds, split between 5 conventional and 4 Islamic. In total, there were 158 Islamic investment funds on the register, local and offshore combined. They managed just over 2 billion dollars, according to March data. The demand for this type of fund has remained steady, especially in regional markets. The numbers suggest a diverse mix of fund structures and management types. Bahrain remains a familiar base for international and regional fund managers looking to serve both conventional and Islamic investors.
Biz Bahrain
3 days ago
- Biz Bahrain
Khaleeji Bank announces exclusive offers for clients applying to transfer their credit card balances
Khaleeji Bank, one of the leading Islamic Banks in the Kingdom of Bahrain, has recently announced an exclusive, limited time package of privileges for clients who apply to transfer their credit card balances to Khaleeji. Through this offer, Khaleeji will waive its profit for six months, reducing the profit rate to 0% when transferring credit card balances, with the opportunity to benefit from a cashback rate of up to 3%. The offer also includes unlimited complimentary air miles with Gulf Air, the national carrier of the Kingdom of Bahrain, together with exclusive discounts at more than 100 outlets. Khaleeji invites interested clients to avail these benefits and apply via the Khaleeji App, through the Bank's website, or by visiting any branch during the campaign's period. Khaleeji also reaffirmed that its credit cards are Shari'a-compliant and remains committed to providing innovative financial solutions that meet clients' needs and complement their modern lifestyles. Commenting on the occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, said 'We are pleased to launch this exclusive and unique offer among Islamic banks for credit card balance transfers, allowing clients to benefit from the bank waiving its profit for six months, so the profit rate becomes 0%, cashback of up to 3%, and unlimited air miles with Gulf Air, in addition to wide-ranging discounts when transferring their credit card balances to Khaleeji. This reflects our commitment to delivering innovative solutions that are fully aligned with the principles of Islamic Shari'a and meet our valued clients' ambition.' She added 'Khaleeji remains committed to rolling out high-value offers that reinforce its leading position in Islamic banking, while delivering real value and a safe, flexible banking experience that suits our clients' lifestyles and supports their future financial goals. We are delighted to invite all current and new clients to seize this limited time opportunity and take advantage of these privileges.' Khaleeji is a leading Islamic Bank that strives to achieve clients' ambitions through an Islamic Banking model that offers a comprehensive range of high quality Shari'a-complaint banking services and investment opportunities to individuals and companies.
Daily Tribune
3 days ago
- Daily Tribune
Bahrain's financial sector hits $245bln in assets
Assets worth $245.6 billion sit on the books of Bahrain's banks, the Central Bank's May tally shows. They are spread across 369 licensed finance houses. Eighty-three of those houses are banks. Fifteen are Islamic, and their combined assets stand at $62.6 billion. The payroll in the wider financial field reached 14,775 in 2024. Bahrainis held 10,259 posts, which accounts for around seven in ten. Expatriates filled the remaining 4,516. Output Nominal output came in at $47.1 billion last year, a rise of two per cent. In real terms the figure was $40.3 billion, up 2.6 per cent. Finance accounted for 17.2 per cent of that real total. Insurance followed suit. One hundred and thirty-seven licensed firms had written BD239.4 million in premiums by December 2024. Investment firms numbered 50 at the same date.
