Manama (UNA-OIC) – The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions launched, on Tuesday, the third series of its online technical workshops on “Maqasid al-Shariah in Islamic Finance”, which will run for two days.
Following the success of Maqasid al-Shariah in Islamic Finance workshop, in Arabic language, this English language edition covers the same agenda to meet the high demand from CIBAFI’s non-Arabic speaking members and stakeholders.
CIBAFI Online Technical Workshop was inaugurated by welcoming and opening addresses from Zainab Al Owainaty, Director, Administration and Finance at CIBAFI; and Norlymalis Jazzuir Kamarudin, Senior Vice President – Head of Corporate Planning and Analytics Division, Bank Muamalat Malaysia Berhad and CIBAFI Sustainability Working Group (SWG) Co-Chair.
Maqasid al Shariah (the objectives of Islamic law) is one of the most important concepts that play a crucial role in strengthening contemporary Islamic finance today. It is considered as a measurement to streamline the Islamic finance business activities, along with the different products offered in the market. The achievement of Maqasid al-Shariah in Islamic finance is an indication of the Shariah-compliant status of the Islamic financial institutions’ activities.
In the above context, this workshop includes wide range of case studies and exercises as well as experience sharing sessions from various industry experts, including Dr. Muhammed Burhan Arbouna, Executive Vice President, Head of Shariah Department, Al Salam Bank – Bahrain; Prof. Dr. Mohamad Akram Laldin, Executive Director, International Shari’ah Research Academy (ISRA) and CIBAFI Accreditation Board Member; and Assoc. Prof. Dr. Ahcene Lahsasna, Chief Executive Officer, Salihin Shariah Advisory Services Sdn Bhd and CIBAFI accredited trainer.
The online workshop attendees are comprised of over 50 delegates from 19 countries representing Islamic banks and financial institutions as well as Regulatory and Supervisory Authorities (RSAs).
CIBAFI Technical Workshops are aligned with CIBAFI’s third objective of Training and Professional Empowerment which endeavors to enhance capacity building within the Islamic financial service industry (IFSI). These programs are practical in nature and are targeted to the staff of Islamic banks and Islamic financial institutions, regulators and practitioners. They aim to engage participants in the discussion on the current environment of the Islamic banking industry.
CIBAFI, as the ‘voice’ of the industry, aims to provide high-level platforms to develop the human capital and bring industry professionals together to encourage dialogue and enhance knowledge sharing on the most relevant matters to the IFSI.