07.09.2020 19:36
The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, held its 40th Board of Directors (BOD) meeting via videoconference last week.
According to CIBAFI, the 40th BOD meeting was chaired by H.E. Abdulhameed M. Aboumoussa, Vice Chairman of the Board and Governor of Faisal Islamic Bank of Egypt. During the meeting, CIBAFI activities report for the period from May to August 2020, as well as the membership application from Bank Nizwa – Oman, were reviewed and approved. The meeting also facilitated the discussion on the financial highlights and the measures taken by CIBAFI to mitigate the impact of COVID–19 on its finances and operations.
As a follow up to the previous meeting resolutions, 25 members of the CIBAFI Sustainability Working Group (SWG) were approved. The Secretariat is planning to hold the first SWG meeting during the last quarter of the current year.
Finally, CIBAFI 40th BOD Meeting has witnessed the election of Sheikh Abdullah Saleh Kamel, representative of Al Baraka Banking Group, as the new Chairman of the Board of Directors for the current term ending June 2022.
