Manama (UNA-OIC) – The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, successfully launched on Tuesday its two-day online technical workshop on “Maqasid Al-Shariah in Islamic Finance”.
The workshop, conducted in Arabic, was attended by more than 70 participants from over 20 countries, representing Islamic banks and financial institutions, regulatory and supervisory authorities, and academia, as well as other international institutions.
Given the importance of Maqasid (goals or objectives) Al-Shariah in the context of Islamic finance, this workshop aims to look at the objectives and classification of Shariah before getting into the concept of Maslahah (Public interest), as an important mechanism of Shariah. It will also cover the various implementations of Maqasid Al Shariah in the resolutions of Shariah Boards.
The online workshop includes a combination of lectures, interactive discussions, case studies, exercises and experience sharing sessions from various industry experts and Shariah scholars.
CIBAFI will continue to overcome the current challenges by using innovative solutions and implementing alternatives for virtual initiatives and activities, thus will hold a number of technical webinar series in different languages.
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 targeting the staff of Islamic banks and financial institutions, regulators and practitioners. They also aim to engage participants in the discussion on the current environment of Islamic banking and post-crisis developments.
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 most relevant matters to the Islamic Financial Services Industry (IFSI).