24th November 2020, Manama, Kingdom of Bahrain | The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions successfully launched this afternoon the third series of its online technical workshops. CIBAFI Technical Workshop in “Maqasid al Shariah in Islamic Finance” will run for two days.
Following the success of Maqasid al-Shariah in Islamic Finance workshop, in Arabic language, this English language edition covers the same agenda to meet the high demand from CIBAFI’s non-Arabic speaking members and stakeholders. CIBAFI Online Technical Workshop was inaugurated by welcoming and opening addresses from Ms. Zainab Al Owainaty, Director, Administration and Finance at CIBAFI and Mr. Norlymalis Jazzuir Kamarudin, Senior Vice President - Head of Corporate Planning and Analytics Division, Bank Muamalat Malaysia Berhad and CIBAFI Sustainability Working Group (SWG) Co-Chair.
Maqasid al Shariah (the objectives of Islamic law) is one of the most important concepts that plays a crucial role in strengthening the contemporary Islamic finance today. It is considered as measurement to streamline the Islamic finance business activities, along with the different products offered in the market. The achievement of Maqasid al Shariah in Islamic finance is an indication of the Shariah compliant status of the Islamic financial institutions activities.
In the above context, this workshop includes wide range of case studies and exercises as well as experience sharing sessions from various industry experts, including Dr. Muhammed Burhan Arbouna, Executive Vice President, Head of Shariah Department, Al Salam Bank – Bahrain; Prof. Dr. Mohamad Akram Laldin, Executive Director, International Shari’ah Research Academy (ISRA) and CIBAFI Accreditation Board Member; and Assoc. Prof. Dr. Ahcene Lahsasna, Chief Executive Officer, Salihin Shariah Advisory Services Sdn Bhd and CIBAFI accredited trainer.
The online workshop attendees is comprised of over 50 delegates from 19 countries representing Islamic banks and financial institutions as well as Regulatory and Supervisory Authorities (RSAs).
CIBAFI Technical Workshops are aligned with CIBAFI’s third objective of Training and Professional Empowerment which endeavors to enhance capacity building within the Islamic financial service industry (IFSI). These programmes are practical in nature and are targeted to staff of Islamic banks and Islamic financial institutions, regulators and practitioners. They aim to engage participants in the discussion on the current environment of the Islamic banking industry.
CIBAFI, as the ‘voice’ of the industry, aims to provide high-level platforms to develop the human capital and bring industry professionals together to encourage dialogue and enhance knowledge sharing on most relevant matters to the IFSI.