The General Council for Islamic Banks and Financial Institutions (Cibafi), the global umbrella of Islamic financial institutions, held its Annual General Meeting in Jeddah, Saudi Arabia and discussed the Strategic Plan 2019–2022.

The General Council for Islamic Banks and Financial Institutions (Cibafi), the global umbrella of Islamic financial institutions, recently held its Annual General Meeting (AGM) in Jeddah, Saudi Arabia and discussed among others the Strategic Plan 2019–2022.

The AGM also focused on launch of Cibafi Activities Report 2017, audited financial statements for the year 2017, and admission of new members.

 During the meeting, stakeholders discussed the new Strategic Plan for the period 2019 – 2022, to measure the satisfaction and expectations of Cibafi’s members and stakeholders towards its activities, initiatives and outputs with an aim to remain relevant in its mission.

The meeting also saw the launch of Cibafi Activities Report for 2017, which underpins Cibafi’s commitment in delivering its Stakeholders’ centric Strategic Plan 2015 – 2018, and while in the presence of external auditor, the financial statements for the period have been approved.

Abdelilah Belatik, secretary general of Cibafi said: “Cibafi has developed to become an international reference in the Islamic financial services industry. We reviewed today Cibafi Activities Report for 2017, which underpins Cibafi’s milestones and activities.

“Cibafi has been active in research and publications, which our industry needs for better understanding of the nature and challenges of Islamic Finance. The recent launch of Cibafi flagship publications ‘Global Islamic Bankers’ Survey 2018’ and inaugural ‘Global Takaful Survey 2018’ demonstrates our commitment towards being a leading voice of the Islamic finance industry.”

“I would like to take this opportunity to thank our Board of Directors (BOD) members for all their guidance and support extended to Cibafi in its operations, from building the Strategic Plan 2015-2018 to its execution up to date,” Belatik added.

“We are delighted to report that all activities under work plan 2017, have been successfully achieved and in certain areas we have exceeded the expectation of our own work plan. We thank once again all the industry stakeholders for their highly appreciated support in all the initiatives of Cibafi. And we look forward to preparing the Strategic Plan 2019 – 2022 for an action with impact.”

Cibafi has also admitted fifteen new members into Cibafi membership from Iraq, Kazakhstan, Kenya, Morocco, Palestine and Sudan. – TradeArabia News Service