Liquidity management is a critical issue which concerns all financial institutions. The failure to address this issue will lead to several negative consequences including bank failure and, worse, the collapse of the entire financial system.
Manama, Kingdom of Bahrain:
The General Council for Islamic Banks and Financial Institutions, the global umbrella of Islamic financial institutions, launched its Online Technical Workshop on: “Liquidity Management Tools for Islamic Financial Institutions (IFIs)”. The workshop will run for two days (July 4 and 5).
Liquidity management is a critical issue which concerns all financial institutions. The failure to address this issue will lead to several negative consequences including bank failure and, worse, the collapse of the entire financial system. As a result, regulators and central banks have been emphasizing the improvement of the banking industry’s liquidity frameworks.
For this reason, CIBAFI organised an Online Technical Workshop aiming to provide staff of Islamic financial institutions (IFIs) with a hands-on technical knowledge and skills on managing liquidity. The Shariah considerations related to the liquidity management tools will also be thoroughly explained to the participants throughout the programme.
Zainab Al Owainaty, Director of Administration and Finance of CIBAFI in her speech stressed on CIBAFI’s role in raising awareness on the importance of liquidity management which aims to support the continuous growth of Islamic banks and financial institutions.
The workshop was attended by over 80 representatives from Islamic banks and financial institutions as well as Regulatory and Supervisory Authorities (RSA).
It was facilitated by Majed GHARSALLI, Head of Shariah Compliance and Audit, Zitouna Bank, Tunisia and CIBAFI Accredited Trainer.
Mrs. Zainab Al Owainaty, Director of Administration and Finance of CIBAFI in her speech stressed on CIBAFI’s role in raising awareness on the importance of liquidity management which aims to support the continuous growth of Islamic banks and financial institutions.
In order to provide distinctive learning approaches, the programme was presented using real-world industrial case studies, Q&A, and group problem-solving exercises.
The guest speakers included Abdulkareem Ersan Sukkari, Chief Risk Officer, Islamic International Arab Bank, Jordan; and Hussain Abdulhaq, Head of Treasury & Capital Markets, Al Salam Bank, Bahrain.
The Technical Workshop is aligned with the objective of Professional Development, which endeavors to enhance capacity building within the Islamic financial services industry (IFSI). These programmes are practical and targeted to the staff of Islamic banks and financial institutions, regulators, and practitioners. In addition, they aim to engage participants in the discussion on the current environment of the Islamic banking industry.
About CIBAFI
General Council for Islamic Banks and Financial Institutions is an international non-profit organization founded in 2001 by the Islamic Development Bank (IDB) and a number of leading Islamic financial institutions. It is an affiliated organ to the Organisation of Islamic Cooperation (OIC).
With over 130 members from more than 30 jurisdictions all around the world, CIBAFI is recognised as a key instrument in the international architecture of Islamic finance.
Its mission is to support the IFSI by providing specific activities and initiatives, aiming to strengthening the growth of the industry, deepening Shariah objectives in financial dealings and transactions, and facilitate cooperation between members and institutions of common interest.
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