18th November
2021, Manama, Kingdom of Bahrain, Barcelona, Spain | The General Council for Islamic
Banks and Financial Institutions, the official global representative of Islamic
financial institutions (IFIs), the Association
of the Mediterranean Chambers of Commerce and Industry (ASCAME), and the
Barcelona Chamber of Commerce have
successfully convened today the 6th Mediterranean Islamic
Finance Forum (MIFF). This year’s online forum was focused on “Islamic
Finance in the Post COVID-19 Era: A Pathway for Economic Development and
Resilience”.
The successful execution
of the forum came in succession to the previous successful series of the
Mediterranean Islamic Finance Forums in Barcelona. It was led by CIBAFI as part
of the MedaWeek Barcelona 2021 and gathered decision-makers, investors,
entrepreneurs, senior executives from financial institutions, business
leaders, policy makers, regulators, heads of government and ministers from all
around the Mediterranean, Europe and the Middle East.
The 2nd day inauguration of the
15th Mediterranean Week of Economic Leaders - MedaWeek Barcelona
2021 and the 6th MIFF has witnessed Keynote speeches from different
leaders of the industry including from Dr. Abdelilah Belatik,
Secretary General of CIBAFI and Mr. Ayman Sejiny, Chief Executive
Officer, Islamic Corporation for the Development of the Private Sector (ICD).
The COVID-19 outbreak has
severely impacted nearly all industries, including the Islamic financial
services industry (IFSI). The panel session of the 6th MIFF
discussed these effects of the pandemic and how institutions respond to create
opportunities and face the challenges to strengthen the industry. The session
also tackled how Islamic finance help achieve the Sustainable Development Goals
(SDGs) and how it could play a vital role in furthering economic development
and fostering prosperity in the Mediterranean and African regions. Furthermore,
the session highlighted the importance technology and innovation as a driving
force for Islamic finance penetration in developing and emerging regions such
as the Mediterranean. The panelists who discussed these very engaging topics included: Mr. Iyad
Asali, General Manager, Islamic International Arab Bank PLC, Jordan; Mr.
Nabil Kesraoui, Director General, Zitouna Tamkeen, Tunisia; Mr. Hasan
Sami Bayansar, Deputy Chief Executive Officer, Insha Ventures, Turkey; Mr.
Gonzalo Rodríguez, Director, Saudi-Spanish Center for Islamic Economics and
Finance (SCIEF), Spain and Dr. Bridget Kustin, Research Fellow, Saïd
Business School-University of Oxford, United Kingdom. The session was moderated
by Dr. Muhammad Bilal, Research Economist, General Council for Islamic
Banks and Financial Institutions (CIBAFI).
The above Forum is aligned with CIBAFI’s strategic objective to
promote and facilitate the growth of Islamic finance. CIBAFI continues to
support the Islamic financial services industry through various activities and
initiatives. These include providing industry stakeholders with a platform to
discuss emerging issues, policy and regulatory advocacy initiatives,
representing the industry at major global financial events, and sharing
knowledge through specialized publications and comprehensive training
programmes.