• 08 Jan

    PRESS RELEASE: 8th January 2018, Khartoum, Sudan; Manama, Kingdom of Bahrain

     
     
    CIBAFI launched this morning its Technical Workshop on Stress Testing for Islamic Financial Institutions (IFIs) in Khartoum, Sudan.
     
    8th January 2018, Khartoum, Sudan; Manama, Kingdom of Bahrain | General Council for Islamic Banks and Financial Institutions, the global umbrella of Islamic financial institutions, launched this morning its Technical Workshop on Stress Testing for Islamic Financial Institutions (IFIs), which is kindly hosted by the Central Bank of Sudan.
    This morning at Corinthian Hotel Khartoum, CIBAFI Technical Workshop was opened by welcoming and opening addresses of H.E. Raba’a Ahmed Al-Khalifa, Assistant Governor of the Financial Institutions and Systems Wing of the Central Bank of Sudan, and Mr Abdelilah Belatik, Secretary General of CIBAFI.
    Three days Technical Workshop will examine different techniques of stress testing and the crucial role of stress testing in capital planning and capital management as well as the role of the regulatory authorities in managing industry-wide stress testing. Programme includes wide range of case studies and exercises as well as experience sharing sessions facilitated by senior representatives from the International Monetary Fund, United States; Banking Regulation and Supervision Agency of Turkey; Kuwait Finance House from Kuwait; and the Central Bank of Sudan.
    Commenting on the Technical Workshop, Mr Abdelilah Belatik, Secretary General of CIBAFI said: “We are happy to be back in Sudan, and we are pleased to offer this Technical Workshop to our stakeholders in the region. I express my sincere appreciation to our member the Central Bank of Sudan for the tremendous support extended to CIBAFI. This Technical Workshop is a timely initiative as the Central Bank of Sudan is preparing a comprehensive set of regulations for Stress Testing to be launched in 2018.  The Basel Committee on Banking Supervision is also updating its stress testing framework to integrate lessons from global development post-crisis.”
    Commenting on the Technical workshop H.E. Raba’a Ahmed Al-Khalifa, Assistant Governor of the Financial Institutions and Systems Wing of the Central Bank of Sudan, said: “As a member of CIBAFI, we are pleased to host this Technical Workshop to address practical elements of implementing Stress Testing for Islamic Financial Institutions in Sudan.  This is part of our commitment to continue providing financial knowledge and expertise to the banks in the jurisdiction to promote sound financial practices in Sudan.”
    From today till Wednesday, 100 delegates from 10 jurisdictions representing Islamic banks and financial institutions as well as Regulatory and Supervisory Authorities (RSAs), will be exposed to the notion of stress testing, its practical application, best practices and experience sharing from different jurisdiction practices.
    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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