Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI), a global umbrella of Islamic financial institutions, yesterday (July 28) announced that it, along with the World Bank, is organising a joint international conference in Amman, Jordan, in September.

Titled ‘Corporate Governance for Islamic Financial Institutions: Lessons from Recent Global Developments, the conference is slated to be held on September 15 and 16, said a report in the Gulf Daily News (GDN), our sister publication.

The one-and-a-half day conference, under the patronage of the Central Bank of Jordan, aims to bring together various stakeholders from the private sector, multilateral development institutions, international and national regulatory bodies, policy-makers, and academia to discuss the issue of corporate governance in the Islamic financial services industry.

The conference’s objective is to stimulate discussion on the role of an effective regulatory and supervisory framework and risk management practices to improve the corporate governance from both micro- and macro-prudential perspective.

This event will facilitate the discussion of current practices and challenges of corporate governance among Islamic financial institutions in different jurisdictions, how those practices can be further enhanced and how existing challenges can be overcome.

Participants of the conference will have the opportunity to present their views on the challenges and opportunities faced by Islamic financial institutions with respect to global developments since the financial crisis.

The conference follows a memorandum of understanding signed between CIBAFI and the World Bank. - TradeArabia News Service