The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, has successfully concluded its Annual General Meetings in a hybrid format in İstanbul, Türkiye, and online, supported by AlBaraka Forum for Islamic Finance.
As part of the Annual General Meetings’ side events, CIBAFI conducted a two-day technical workshop on ‘Advancing Climate Action in Islamic Finance: Practical Insights on GHG Measurement & Reporting.‘ This initiative aligns with the declaration made by the Islamic Finance Infrastructure Organisations at COP28. It highlights CIBAFI’s dedication to promoting sustainability and addressing global climate challenges in the Islamic financial services industry (IFSI).
Dr. Abdelilah Belatik, Secretary General of CIBAFI, emphasized the importance of the initiative in supporting the industry’s climate action journey. He stressed the significance of implementing CIBAFI’s GHG emissions measurement tool to facilitate climate action within Islamic banks and financial institutions.
Ms. Zainab Al Owainaty, Director of Administration and Finance at CIBAFI, inaugurated the workshop with opening remarks, welcoming participants and highlighting the pivotal role of capacity building in advancing climate action within the Islamic finance sector. She underscored CIBAFI’s ongoing efforts in this domain, emphasizing the commitment to providing strong frameworks and tools for capacity building.
Senior representatives from Islamic banks, financial institutions, Regulatory and Supervisory Authorities, and other key stakeholders participated in the workshop. The comprehensive agenda covered GHG accounting fundamentals, CIBAFI’s GHG measurement tool, and practical sessions on data management and reporting. Interactive sessions and case studies provided hands-on knowledge, enabling attendees to implement effective climate action strategies and meet international sustainability standards. CIBAFI thanks its trainers and expert speakers for facilitating the workshop.
The workshop was followed by the CIBAFI 24th Annual General Meeting (AGM). During the AGM, the Secretariat presented the Activities Report for the year 2023, the Membership Status Report, and the audited financial statements for the year 2023. CIBAFI Annual Meeting’s attendees praised the Secretariat efforts for their commitment to delivering excellent outputs, wishing CIBAFI further success for the next period.
CIBAFI supports the IFSI through sustainability and climate change initiatives, including platforms for environmental discussions, representation at global events, and knowledge sharing through publications and training programmes.
