Latest news with #ZainabAlOwainaty
Biz Bahrain
24-06-2025
- Business
- Biz Bahrain
CIBAFI Conducts Online Technical Workshop on Governance and Compliance for Islamic Financial Institutions
The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella organization for Islamic financial institutions, is conducting its Online Technical Workshop on 'Governance and Compliance for Islamic Financial Institutions (IFIs)'. Delivered in English, the workshop brings together professionals from across the Islamic financial services industry. Effective governance frameworks are essential to ensuring sound practices, ethical conduct, and Shariah compliance in Islamic financial institutions. In recognition of this, CIBAFI launched the workshop as part of its strategic objective of Professional Development, which focuses on enhancing the technical capacity of industry practitioners. The programme features a combination of technical sessions, real-world applications, and case-based discussions, covering key topics such as Shariah governance principles, internal control systems, risk-based compliance approaches, and international regulatory perspectives. The workshop began with opening remarks from Ms. Zainab Al Owainaty, Director of Administration and Finance Affairs at CIBAFI. She emphasized the vital importance of governance and compliance in the face of ongoing global shifts in the financial sector, particularly within the Islamic finance industry. Ms. Al Owainaty highlighted that the sustained success of Islamic financial institutions relies on their ability to develop a comprehensive framework that effectively integrates strong governance, rigorous compliance, and sustainable practices. The more effectively we align these pillars, the greater our potential to lead in global markets and deliver meaningful value to our communities. The workshop was facilitated by Prof. Dr. Younes Soualhi, Senior Researcher and Professor at INCEIF – The Global University of Islamic Finance, Malaysia. Participants benefited from his extensive expertise and practical insights. The programme also featured contributions from distinguished guest speakers, including Dr. AbdelGadir Warsama Ghalib, Founder & Principal Legal Counsel, Abdelgadir Warsama Legal Consultancy, Bahrain and Mr. Usama Saleh, Chief Shariah Audit Executive, TAJ Bank, Nigeria. This workshop underscores CIBAFI's ongoing dedication to advancing the Islamic financial services industry through targeted technical programmes and knowledge-sharing platforms that address the sector's evolving governance and compliance priorities. 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.
Biz Bahrain
23-04-2025
- Business
- Biz Bahrain
CIBAFI, in Collaboration with the Central Bank of Bahrain, Launches a Technical Workshop on Climate Action in Islamic Finance
The General Council for Islamic Banks and Financial Institutions (CIBAFI), in collaboration with the Central Bank of Bahrain (CBB), today launched a two-day technical workshop titled 'Advancing Climate Action in Islamic Finance: Practical Insights on GHG Measurement & Reporting', in Manama, Kingdom of Bahrain. Held in response to the growing urgency surrounding climate change and sustainability, the workshop is part of CIBAFI's strategic efforts to build capacity within the Islamic financial services industry (IFSI). It provides participants with practical tools and knowledge to measure and report greenhouse gas (GHG) emissions in alignment with global standards. Dr. Abdelilah Belatik, Secretary General of CIBAFI, reaffirmed the organization's commitment to advancing sustainability in Islamic finance. He highlighted CIBAFI's alignment with the declaration made by Islamic finance infrastructure organizations at COP28, noting that the GHG measurement tool developed by CIBAFI is a key step in helping Islamic Financial Institutions (IFIs) integrate climate action into their operations. He also pointed to growing regulatory expectations in countries where Islamic finance is practiced, and noted that this workshop aims to support banks in meeting these requirements by enhancing their climate risk management. Ms. Zainab Al Owainaty, Director of Administration and Finance at CIBAFI, inaugurated the workshop with opening remarks, welcoming participants and highlighting the pivotal role CIBAFI plays in building capacities to meet evolving sustainability expectations. She emphasized CIBAFI's commitment to providing practical solutions that support the implementation of effective climate strategies across the sector, and the importance of collaboration between financial institutions and regulatory bodies to achieve sustainability goals. She noted that CIBAFI continually strives to offer necessary support to the industry through effective training programs aimed at enhancing awareness of sustainability and its application in daily operations. Following the opening, Mr. Ali Haroon Alaamer, Director of the Capital Markets Supervision Directorate at the Central Bank of Bahrain, delivered a keynote speech highlighting the transformative potential of Islamic finance in addressing climate change. He emphasized the alignment between Islamic finance principles and sustainability, pointing to instruments such as green sukuk, Takaful, and Islamic social finance as powerful tools for climate action. Mr. Alaamer also outlined the CBB's ESG disclosure framework, stressing the importance of regulatory initiatives in advancing environmental stewardship and reinforcing Bahrain's commitment to global sustainability standards. Senior representatives from Islamic banks, financial institutions, regulatory bodies, and other key stakeholders are participating in the workshop. The programme features interactive sessions on GHG accounting and practical exercises using CIBAFI's GHG emissions measurement tool. It provides a valuable platform for industry professionals to enhance their sustainability reporting capabilities while ensuring alignment with Shariah principles. The workshop is being delivered by Dr. Wael Mohamed Aaminou, Managing Partner at Green for South. CIBAFI extends its appreciation to the Central Bank of Bahrain for its valuable support and to all speakers and participants contributing to the success of this important initiative.
