28^th October 2020, Manama, Kingdom of Bahrain | The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions jointly with the Bahrain Association of Banks (BAB), have successfully convened today a webinar with the theme, “Sustainability within the Financial Sector: Practices, Trends, and Achievements”.

This webinar has brought together senior executives of financial institutions across various countries as well as high – level representatives from multilateral institutions, international and national regulatory bodies, policy-makers, inter-governmental agencies and academia.

The webinar discussed how financial markets are rapidly aligning with sustainable finance and gave an overview on what leading institutions have done in terms of integrating sustainability within their core business and activities. It discussed various sustainability best practices within banks and financial institutions. During the webinar, the contemporary trends and prospects of sustainability were also defined and discussed. 

The webinar has witnessed a welcoming remark from Mrs. Zainab AlOwainaty, Director of Administration and Finance at CIBAFI. While the panelists included, Dr. Ali Adnan Ibrahim, Global Head of Sustainability and Social Responsibility, Al Baraka Banking Group, Co-Chairman of CIBAFI Sustainability Working Group and Chairman of BAB Sustainable Development Committee; Dr. Daniel Klier, Group General Manager and Global Head of Sustainable Finance, HSBC; and Dr. Zamir Iqbal, Vice President of Finance, Islamic Development Bank (IsDB).

Sustainable development within the global financial community is one of the important aims in CIBAFI’s current strategic direction. CIBAFI has started various initiatives that aim to raise awareness and promote sustainability practices. In furthering this goal, CIBAFI issued several publications and organised forums. It has also established its dedicated Sustainability Working Group (SWG).

The Bahrain Association of Banks represents and advocates the interests of the various licensed financial institutions in Bahrain. It works closely with the Central Bank of Bahrain and other government authorities at the highest levels on issues of banking policy and regulation and actively promotes Bahrain as an international financial center.

CIBAFI will continue working alongside other institutions with similar objectives and is pleased to co-organise this webinar with BAB with an aim to promote sustainability within the financial industry.

The webinar was organised by CIBAFI and BAB as an initiative that aims to raise awareness and continue support the financial industry through specific activities and initiatives which promote sustainability best practices and facilitate cooperation between members and institutions of common interest.