Delegates from more than 28 countries attended the global forum “Rethinking Values for Sustainable Growth” organised by the General Council of Islamic Banks and Financial Institutions (Cibafi) in Bahrain yesterday (May 3).

The two-day forum at the Four Seasons Hotel in Manama organised under the patronage of the Central Bank of Bahrain brought together stakeholders from the Islamic finance industry, multilateral development institutions, international and national regulatory bodies, policy-makers, and academia to discuss the key emerging issues within the industry.

Abdelilah Belatik, secretary general, of Cibafi, Musa A Shihadeh, Cibafi BoD member and chief executive officer and general manager of the Jordan Islamic Bank welcomed delegates and Rasheed Mohammed AlMaraj, Governor of the Central Bank of Bahrain gave the keynote address.

The forum also welcomed a special keynote address guest, the renowned Emerging Markets and Asset Management Guru, Dr Mark Mobius, executive chairman, Franklin and Templeton Asset Management.

The inspiring special keynote address emphasized on main thoughts as to how finance can contribute to sustainable growth of the economy, and some insights on how financial markets in the global and emerging markets are expected to perform.

The speech also covered expert views on Mena and emerging markets including the impact of oil prices on economies, as well as assessment of and what structural reforms are required to spur good growth.

The session focused on moving towards non-traditional banking models in Islamic finance, which included enhancing capabilities in private banking and asset management as well as the role of structured finance to promote socio-economic development.

“On the occasion of 15th anniversary we are delighted to be able to have all of our stakeholders here with us today, engaging in a constructive forward looking dialogue,” said Belatik.

“I would like to extend our thanks and appreciation to the Central Bank of Bahrain for its patronage to this Forum. Our thanks also go to the Economic Development Board of Bahrain, Al Baraka Banking Group and Jordan Islamic Bank, the Islamic International Arab Bank, as well as to our new member Path Solutions for their support to this Forum. Our appreciation is also for our Knowledge Partners- Thomson Reuters & Zawya, and all media partners for their continuous support for all Cibafi initiatives. We thank all the delegates who made this event happen, without you it would be impossible to have this successful gathering,” he added. – TradeArabia News Service