For the achievement of ethical principles within banking transactions, CIBAFI seeks to support practices that are cognizant of the real economy and Shariah Objectives with its member institutions and various stakeholders.
In an increasingly complex regulatory environment, new regulations are being developed and proposed in the financial sector which affect both Islamic and conventional financial institutions. Hence, CIBAFI is keen to voice the concerns of the IFSI to international organisations, regulatory authorities and various stakeholders.
In order to support the value proposition of Islamic finance and ensure that the needs of the industry are taken into account in the development of regulatory regimes, it is very important for CIBAFI to engage with these parties to conduct constructive and proactive dialogues that highlight the challenges facing the industry and the different implications of the regulatory requirements on IFIs’ business operations.
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