• 22 May

    PRESS RELEASE: 22 May 2018, Manama, Kingdom of Bahrain, Jeddah, Kingdom of Saudi Arabia


    CIBAFI Stakeholders Met at its Annual General Meeting (AGM) and discussed among others the Strategic Plan 2019 - 2022 in Jeddah

    22nd May 2018, Manama, Kingdom of Bahrain, Jeddah, Kingdom of Saudi Arabia | The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, concluded its Annual General Meeting 2018 in Jeddah, Kingdom of Saudi Arabia.



    The Annual General Meeting focused on four key agenda: (1) CIBAFI new Strategic Plan 2019 - 2022; (2) Launch of CIBAFI Activities Report 2017, (3) Audited Financial Statements for the year 2017, and (4) Admission of New members.


    During the Annual General Meeting, stakeholders of CIBAFI discussed the new Strategic Plan for the period 2019 – 2022, to measure the satisfaction and expectations of CIBAFI’s members and stakeholders towards its activities, initiatives and outputs with an aim to remain relevant in its mission.


    The meeting also saw the launch of CIBAFI Activities Report for 2017, which underpins CIBAFI’s commitment in delivering its Stakeholders’ centric Strategic Plan 2015 – 2018. And in the presence of external auditor, the financial statements for the period have been approved.


    Commenting on the Annual General Meeting, Mr. Abdelilah Belatik, Secretary General of CIBAFI said: “CIBAFI has developed to become an international reference in the Islamic financial services industry. We reviewed today CIBAFI Activities Report for 2017, which underpins CIBAFI’s milestones and activities. CIBAFI has been active in research and publications, which our industry needs for better understanding of the nature and challenges of Islamic Finance. The recent launch of CIBAFI flagship publications “Global Islamic Bankers’ Survey 2018” and inaugural “Global Takaful Survey 2018”demonstrates our commitment towards being a leading voice of the Islamic finance industry.”


    By closing, Mr. Belatik added: “I would like to take this opportunity to thank our Board of Directors (BOD) members for all their guidance and support extended to CIBAFI in its operations, from building the Strategic Plan 2015-2018 to its execution up to date. We are delighted to report that all activities under work plan 2017, have been successfully achieved and in certain areas we have exceeded the expectation of our own work plan. We thank once again all the industry stakeholders for their highly appreciated support in all the initiatives of CIBAFI. And we look forward to preparing the Strategic Plan 2019 – 2022 for an action with impact.”


    In line with this, CIBAFI has also admitted fifteen new members into CIBAFI membership from Iraq, Kazakhstan, Kenya, Morocco, Palestine and Sudan.


    Members and stakeholders who attended the AGM praised the efforts of the Secretariat for their continuous efforts and dedication to the tasks at hand.

Go to TOP