IslamicFinance.de

The General Council for Islamic Banks and Financial Institutions (CIBAFI) held its two-day Global Forum in Istanbul. The forum’s main theme was "The New Face of Financial Services: Disruptions, Opportunities and the New Normals". Secretary-general Abdelilah Belatik said that CIBAFI would stay relevant in the industry as the world changes. CIBAFI's mandate is to represent the Islamic financial services industry globally, defend and promote its role, and to also consolidate cooperation among its members. Mehmet Ali Akben, chairman of the Turkey's Banking Regulation and Supervision Agency (BDDK), said that while globalization had made countries come closer together, it also brought along risks. He added that countries need international cooperation and CIBAFI is one of the best examples of having cooperation and partnership between the countries.