With support from our members and stakeholders, CIBAFI has successfully executed multiple initiatives under two strategic plans over the period 2015 – 2021. Sustaining this success, I am happy to share with you CIBAFI’s Strategic Plan 2022 – 2025 that will act as a roadmap for our activities over the next four years.

Over the past years, the rise in sustainability, digitalization, financial technology, and the recent pandemic have been reshaping the financial sector globally. No doubt, these have also significantly impacted the Islamic financial services industry (IFSI). In addition, the COVID-19 pandemic accelerated the adoption of technology, spotlighted several new risks and challenges, and brought forward the urgency of sustainability and climate change agenda.

The continuous developments and changes in the global financial sector raise a crucial need for adopting a proactive approach in identifying new trends and tailoring our activities to create an impact and continue contributing to the development of the IFSI. Recognizing this need, CIBAFI conducted a number of public consultation sessions in 2021, involving all CIBAFI’s members and stakeholders, to reassess its initiatives and align them with the various emerging issues and trends.

Under the guidance of the Board of Directors, the findings of the consultation process served as inputs for the development of the new CIBAFI Strategic Plan 2022 – 2025. Titled “Building an Innovative and Sustainable Future”, this new strategic plan draws a roadmap for supporting the industry’s sustainable development, with innovation being a critical factor in this development.

Thus, the new strategic plan focuses on the attainment of four revised strategic objectives: 

1. Advocacy of Islamic Finance Values and Related Policies and Regulations; 

2. Sustainability and Innovation Integration; 

3. Industry Research and Analysis, and 

4. Professional Development.

Under these four strategic objectives, CIBAFI aims to address critical emerging risks and trends in the industry, including climate change, women and youth empowerment, technology adoption, and the sustainability agenda. Through various initiatives that incorporate policy dialogues, research and publications, conferences and webinars, and professional training, CIBAFI will continue its mandate of advocating the value proposition of Islamic finance. CIBAFI Strategic Plan 2022 – 2025 will serve as a blueprint, guiding our initiatives to continue promoting and supporting the growth of the IFSI.

We would like to take this opportunity to thank CIBAFI Board of Directors, members and stakeholders for the vital role they play in the significant development of the industry. We look forward to your continuous support as we work towards successfully implementing our new plan for the years to come.