To support the IFSI growth by providing specific activities and initiatives that leverage current opportunities while preserving the value proposition of Islamic finance.
CIBAFI Secretariat follows a set of ethical values that apply to all its activities and initiatives and that are embodied by every Secretariat member, which are:
Excelling in all the activities and initiatives, we undertake to support the IFSI and its growth.
Being transparent towards our stakeholders in general, our members, and towards ourselves in our activities and initiatives.
Being responsible for the execution and results of the activities and initiatives we undertake.
Being committed to achieving measurable results in the interest of the IFSI and the development of the real economy.
Aligning our mandate and operations with global developments requires defining goals that will determine the key priorities within CIBAFI’s mission. Accordingly, CIBAFI identified four goals considering the feedback from its stakeholders and the recent global developments.
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Strategic Goal 1
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Strategic Goal 2
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Strategic Goal 3
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Strategic Goal 4
Strategic Objective 1: Advocacy of Islamic Finance Values and Related Policies and Regulations
In a fast-changing environment defined by increased challenges and developments with significant implications on the financial system, it is crucial to preserve the philosophy of Islamic finance based on ethical principles and the support of the real economy while ensuring higher social welfare.
To equip the financial sector with the necessary practices that ensure its resilience against the increased challenges, regulatory and supervisory authorities and standard-setting bodies issue new regulations, guidance, and standards. To support the continuous growth of Islamic finance and guarantee that the concerns of Islamic financial institutions are covered by any new regulation, guides, or standards, CIBAFI is keen to voice the industry’s concerns. This is ensured by conducting constructive and proactive dialogues that highlight the industry's challenges and the different implications of the regulatory requirements on IFIs’ business operations.
CIBAFI Strategic Plan 2022 - 2025
Strategic Objective 2: Sustainability and Innovation Integration
Sustainability and Innovation are factors of growth for all businesses. The financial sector experienced tremendous evolvement due to the increased interest in ethical and responsible finance as well as the emergence of innovative business models. The IFSI is increasingly adopting sustainability and digitalisation within its various segments. However, with the fast-paced developments in this field, continuous efforts are required to keep up with the rapid evolvement and strengthen the competitiveness of IFIs in the market. In light of these challenges, CIBAFI aims to support IFIs in benefiting from the opportunities and managing the risks associated with sustainability and innovation integration.
Strategic Objective 3: Industry Research and Analysis
STRATEGIC OBJECTIVE 4 - PROFESSIONAL DEVELOPMENT
Human capital development represents the key to face the different trends with significant implications on the financial sector in general and the Islamic financial sector, in particular. Contributing to the growth of Islamic finance needs professionals with competencies and skills in different areas affecting this growth while adhering to the ethics and the core principles of Islamic finance. Therefore, CIBAFI works through several initiatives to equip the industry professionals, from different backgrounds and seniority levels, with the necessary expertise to be an asset to the IFIs.
Strategic Plan 2022 - 2025
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