CIBAFI History
Islamic Financial Information Center
About the Center:
The Islamic Financial Information Center represents an important part of the General
Council of Islamic Banks and Financial Institutions since the foundation of the council in
2001, the center has got a large data about Islamic banks and institutions, both financial
and administrative.
The center aims to provide financial and administrative information to Islamic banks,
financial institutions and whoever interested in Islamic banking through issuing Arab
and Global directories and some other periodic financial analysis reports.
The general council in cooperation with Thomson Reuters (TR) & with the Islamic
Institution of the Research & Training (IRTI) Subsidiary to Islamic development Bank
also issue financial performance reports for the member countries in the Islamic financial
society.
The Global Directory:
The directory contains highlights of financial and administrative
information of Islamic banks and financial institutions for a period
of three years . The information is supported by charts for CIBAFI
members.
The directory also includes economic overview of countries that have
Islamic banks and/or financial institutions about countries economy
and the key performance indicators during the year of release.
The Arab States Directory (GCC previously):
The Directory contains financial and administrative information about
the Islamic banks and financial institutions in the Arab countries for
a period of three years, which is supported by financial charts for
CIBAFI members.
The Directory also includes economic overview of Arab countries that
have Islamic banks and/or Financial institutions, and key performance
indicators.
We Protect
The Islamic Financial Industry
And Bring It To The World
The International Islamic Finance Training Center provides training
institutions with an opportunity to strengthen confidence among the Islamic
financial institutions, and an opportunity to further identify themselves as
Islamic financial training institutions, and thus be able to provide appropriate
services needed.
If you want to have your organization accredited in the field of training in the
Islamic finance industry, you first need to make sure that your organization
is among the institutions eligible for the accreditation service as a training
institution,,, and then start immediately applying for accreditation in
coordination with the Centre to follow the required accreditation process.
This kind of accreditation aims to provide the Islamic finance industry with
lecturers who meet the required criteria and the necessary expertise and
skills to be qualified to pursue a career in training in the Islamic Banking
and Finance sector so as to offer their services to the Islamic finance
industry following the best practices in order to improve the performance
and commitment of employees in the arena, through an internationally
recognized accreditation program determined and supported by all financial
institutions members of the Council.
2. Accreditation of Training materials
It includes two types of accreditations:
• Accreditation of training materials that are compatible with the
professional certificates issued by the International Islamic finance
Training Center, CIBAFI.
• Accreditation of specialized training materials that relate to the
various topics in Islamic financial industry.
The IIFT Center aims through these services to improve the quality of
training materials and ensure compliance with international standards
and principles of Islamic banking and finance in order to achieve the
appropriate qualification level of the human resources power in the
industry.
• Services:
1. Accreditation of Training programs
It includes Accreditation of training specialized programs that
relate to the various topics in Islamic financial industry.
The IIFT Center aims through these services to improve the
quality of training programs and ensure compliance with
international standards and principles of Islamic banking and
finance in order to achieve the appropriate qualification level of
the human resources power in the industry.
• CIBAFI Programs:
1. The Certified Islamic Banker
2. The Certified Islamic Specialist in Capital markets
3. The Certified Islamic Specialist in Trade Finance
4. The Certified Islamic Specialist in Takaful
5. The Certified Islamic Specialist in Accounting
6. The Certified Islamic Specialist in Governance and Compliance
7. The Certified Islamic Specialist in Risk Managemen
8. The Certified Islamic Specialist in Sharia Auditing
• Professional Master in Islamic Finance
• Professional Diplomas
• PHD in Islamic finance:
1. CIBAFI / (UTARA MALAYSIA)
2. CIBAFI /Asia university
• Accreditation services
1. Accreditation of training institutions
The training institutions provide important services to Islamic financial institutions,
helping them in the rehabilitation of their human capital including keeping them
abreast of ongoing developments and changes.
The Islamic finance industry is keen to have training services provided to institutions
with the highest quality, being compatible with different specializations in the
Islamic finance field and reflecting the Islamic identity.
The General Assembly of the General Council for Islamic Banks and financial
Institutions CIBAFI blessed the launch of accreditation services provided by the
International Islamic Finance Training Centre for the Islamic financial training
institutions, and thus opening the door to the organizations in this vital sector , and
developing appropriate accreditation standards.
International Islamic Finance Training Center
• About the Center
The International Islamic Finance Training Center was founded pursuant to the resolution
of the general Assembly of the General Council for Islamic Banks and Financial
Institutions CIBAFI, in order to raise the level of employees in the Islamic finance
industry, standardize the training discipline and provide services for accreditation of
training institutions, trainers and training materials, as well as issuing various professional
certificates. CIBAFI is an international non-profit institution that constitutes the official
umbrella for all Islamic financial institutions in the world.
• Mission
Our mission is to raise the professional level of employees in the Islamic finance industry
through the development of standards and rules that govern training, and accreditation
of training institutions, trainers, and training programs.
• Objectives
1. Coordinate with Islamic financial institutions to identify their training needs in
order to enable them to achieve the best returns on their investment in human
resources development.
2. Issue the training programs and certificates that are appropriate for various
levels of all stakeholders including leaders, executives and specialists in the
Islamic Finance sector.
3. Set standards and rules to organize the training services and ensure commitment
and achievement of results.
CIBAFI publications
Global Islamic Economics Magazine (GIEM)
CIBAFI in collaboration with Islamic Business Research Centre
have successfully launched the Global Islamic Economics
Magazine (GIEM) in June 2012. The GIEM focuses mainly on
publishing academic and specialized reports, news and analyses
in Islamic Finance. The GIEM is published online on a monthly
basis through the magazine website: www.giem.info .
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2012
2011
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1
Special publications
CIBAFI covers some events and festivities
through issuing reports and newsletters some of
which are displayed on this page.
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‫اال�ست�سارات املالية اال�سالمية‬
1
7TH IDB GLOBAL FORUM ON ISLAMIC FINANCE
The Forum was initiated in 2003 by Islamic Research and Training Institute (IRTI)
in close cooperation with various organizations, including CIBAFI. It aims at
providing a platform for strategic policy dialogue and sharing the experiences of
countries and institutions towards the development of the various segments of the
Islamic Financial Services Industry.
It also aims at identifying key challenges to the industry’s development in an
integrated manner, promoting cooperation and knowledge sharing, thus enhancing
its competitiveness and stability Until 2012, the seventh version of the Forum
organized in collaboration with General Council for Islamic Banks and Financial
Institutions (CIBAFI) and Local Host Institution of Sudan.
Khartoum Forum for Islamic Financial Products
The annual session of Khartoum Forum for Islamic
Financial Products, organized by General Council
for Islamic Banks and Financial Institutions in
collaboration with Bayan Centre for Islamic Financial
Engineering. The Forum is being held under a different
theme of Islamic Finance every year.
International forum for Islamic Banks and Financial Institutions
Under the high patronage of His Excellency the Minister of Economic Affairs
and Development and Jordan Islamic Bank, (CIBAFI – Bahrain) jointly with
Strategy for Business Development – Jordan held The First Islamic Forum of
Islamic Banks and Financial Institutions under the theme (Horizons of Islamic
Finance).
The conference took place on June 27th &28th 2012 and was attended by
institutions, centers, universities and organizations directly involved in Islamic
finance.
The forum highly recognized speakers attended to present the latest concepts
raised up in the Islamic Finance industry and highlighted the latest issues
affecting and influencing the development of Islamic Finance throughout the
region.
Events and Conferences
1st Islamic Finance Maghreb Forum (IFMF) – Tunisia 2011
CIBAFI organized the first version of the Islamic Finance
Maghreb Forum (IFMF) In Tunisia 16 & 17 July 2011.
The forum aims to keep up with updates in the Islamic Finance
Industry and to evaluate the efforts and activities taken in each of
the Maghreb countries.
2nd Islamic Finance Maghreb Forum (IFMF) – Mauritania 2012
Under the high patronage of His Excellency the Minister of Economic Affairs and
Development and His Excellency the Governor of the Central Bank of Mauritania,
the Islamic Corporation for Private Sector Development (ICD) and the General
Council for Islamic Banks and Financial Institutions (CIBAFI) organized the
2nd Islamic Finance Maghreb Forum under the theme “Islamic banking and the
development of small and medium enterprises” in Nouakchott, 15 -16 April 2012.
The Forum explored the potential of Islamic finance and its opportunities in
the Maghreb countries with a special focus on Mauritania. Also, it highlighted
the impact of regulatory development and reform on the growth of the Islamic
investment and finance market across Maghreb countries. The event showcased
the impact of Islamic banking in the development of Maghreb economies and its
role in the growth of SMEs. In addition, the forum was the appropriate business
platform to present, promote investment opportunities in Mauritania and enhance
investment and trade between Maghreb countries.
Cibafi Website
Nowadays we are living in a dynamic environment where we should use every possible tool to
enhance our services and attract customers. From such a concept we developed our website in using
the recent tools available in the market to bring all CIBAFI information and services behind one
click .
CIBAFI Website is divided into 6 main sections which are :
1. About us : contains all information related to CIBAFI such as brief description about the
council , its message , board of directors and all relevant info .
2. Membership : contains information related to CIBAFI members such as membership
registration form , membership terms and conditions and members list.
3. Media and PR : represents CIBAFI marketing department . In this section the visitor can
view the industry latest news , CIBAFI latest news and the council events and activities.
4. Training Center : contains all information related to the “ International Islamic Finance
Training Center “ such as courses provided by the center , center’s agents , graduates and
services .
5. Information Center : contains financial information about Islamic financial institutions
around the world as well as countries financial information . This information is collected ,
processed and prepared by CIBAFI Information center.
6. Library : contains valuable collections of financial books and studies . It also provides
Sharia fatawa and Islamic financial events recommendations.
CIBAFI website currently provides a set of services such as :
1. Online Applications : CIBAFI allows visitors to register in the training courses and services
by filling an online form and then simply submitting it for process.
2. Online Tests : this part was created to facilitate the examination process for the trainees and
give them more flexibility.
3. Membership login : any CIBAFI member can login to the system to modify its information
and view candidates CV uploaded in vacancies sections.
4. Islamic Finance Vacancies : this part was created in order for CIBAFI to work as mediator
between Professional bankers and Islamic Financial Institutions . In this section, any job
seeker can send his/her CV to be viewed by CIBAFI members. The council members can
list their vacancies in our website which will provide them more exposure.
5. Members logos : this page contains all CIBAFI members logos and each logo directs the
visitor to the member’s website . this can provide more exposure to their websites.
Executive Committee
Sheikh Saleh A. Kamel
Chairman
Al Baraka Banking Group
Mr. Mohammed Sulaiman
Al-Omar
Kuwait Finance House Kuwait
Mr. Abdulrazzak M. Elkhraigy
The International Commerical
Bank - Saudia Arabia
Mr. Abdul Hameed Abu Musa
Deputy Chairman
Faisal Islamic Bank - Egypt
Mr. Abdulla Zaid Alsehhi
Abu Dhabi Islamic Bank
- UAE
Mr. Musa A. Shehada
Jordan Islamic Bank
Jordan
Dr. Sami Ebrahim Soulim
Islamic Developement
Bank - Saudia Arabia
Board of Directors
Sheikh Saleh A. Kamel
Chairman
Al Baraka Banking Group
Mr. Mohammed Sulaiman
Al-Omar
Kuwait Finance House Kuwait
Mr. Musa A. Shehada
Jordan Islamic Bank
Jordan
Dr. A. Rahman Al-tayeb
Ali Taha
ICIEC - Saudia Arabia
Dr. Sami Ebrahim Soulim
Islamic Developement
Bank - Saudia Arabia
Mr. Abdulrazzak M. Elkhraigy
The International Commerical
Bank - Saudia Arabia
Mr. Abdul Hameed Abu Musa
Deputy Chairman
Faisal Islamic Bank - Egypt
Prof. Abu Nasser
Muhammad Abdul Zaher
Islamic Bank Bangladesh Bangladesh
Mr. Adnan Abdulqader
Mohd Almusallam
The Investment DAR Kuwait
Mr.Musaad Mohamed
Industrial Development
Bank - Sudan
Dr. Abdul Hameed M. jameel
Sudan Banks Union - Sudan
Mr. Yousif Abdulla Taqi
Al Salam Bank
Bahrain
Mr. Abdulgabbar Saeed
Tadhamon International
Islamic Bank-Yemen
Mr. Ahmed M. Sabbagh
The International Insurance
& Takaful Companies
Federation - Sudan
Mr. Abdulla Zaid Alsehhi
Abu Dhabi Islamic Bank
- UAE
About CIBAFI
It is one of the infrastructure institutions of the Islamic finance industry. It was founded persant to an Amiri Decree
No. (23) issued in 16th May 2001 in the Kingdom of Bahrain. CIBAFI is affiliated to the OIC and represents the
official umbrella for all financial institutions that comply their services and products with the principles of Islamic
Shari’a.
The aim of the General Council is to develop the Islamic financial industry and protect it in various fields such as
human resources development, information and financial analysis, communication, information and awareness,
and rating of Islamic financial products.
Slogan
We Care For Islamic Finance Industry And
Represent It Around The World
Vision
To participate efficiently and effectively in
supporting An Islamic equitable economic
system globally.
Mission
To represent the Islamic Finance Industry
globally, disseminate information about its
merits, and progress. CIBAFI is committed
to defend the industry, offer support for
establishing and developing Islamic
finance institutions, and to raise the level of
cooperation between members to achieve the
goals of societies, shareholders, employees,
and all stakeholders, in complying to Sharia
and top quality Islamic finance standards.
CIBAFI Objectives
1. Promotion of Islamic financial institutions, dissemination
of concepts, rules and provisions related thereto, and
development and promotion of Islamic financial industry,
and enhancing its existence regionally and globally.
2. Consolidation of co-operation among members of the
Council and similar institutions in areas which serve the
common objectives by using all available means.
3. Providing information related to Islamic banks and financial
institutions and relevant Islamic organizations.
4. Promotion of members’ interests. and protecting the industry
and its safe course, confronting the common difficulties and
challenges and promotion of co-operation among members
one another, and between members and other parties,
particularly regulatory authorities.
5. Participating in the development of Islamic financial
services by encouraging research and development, and
product registration, and tracking the development of laws
and registration procedures.
6. participating in the development of human resources so as
to be in a position to tackle international challenges and
development opportunities.
Establishment
The Amiri Decree
By approving the Headquarters Agreement
Decree No (23) for the year 2001
Between the State of Bahrain
And the General Council For Islamic Banks And Financial Institutions
WE, Salam Bin Hamad Bin Eissa Al Khalifa
Amir of the State of Bahrain by
delegation
After reviewing the constitution
And the Amiree Decree No (30) for the year 2001
And with reference to the headquarters agreement signed between the state of bahrain
and the General Council For Islamic Banks And Financial Institutions, and based on the
offer of the finance and economy minister, and after approval of the ministerial council.
Decreed the following :
Article 1:
Pursuant to the headquarters agreement between the state of bahrain and the General
Council For Islamic Banks And Financial Institutions signed in Manama on Saturday
31 March 2001 annexed to this decree.
Article 2:
All ministers, each according to his respective capacity, make sure this decree is
implemented and effective since its publication in the official journal.
Amir of the State of Bahrain by delegation
Issued in Rifaa Palace
Date: 18 Safar 1422 H
Corresponding to: 12 May 2001
The Secretary General Word
Ten years after the General Council for Islamic Banks And Financial Institutions (CIBAFI) started
its activities in Bahrain, which hosts Islamic Industry Infrastructure Institutions shortly known as
the 4 I’s, the kingdom became an international Islamic finance hub.
CIBAFI works in line with the quick developments in the industry and endeavors to offer high
quality services to all stakeholders within the arena. Such services are deemed sharia compliant and
in line with the main purposes of our Sharia.
What emphasizes the challenge faced by the Islamic finance industry, is its credibility and
achievements reflected by the global positive reactions, a fact that is likely to push further for a
better service quality assurance and raise the stakeholders’ expectations from such a double digit
growing industry. This requires offering clearer visions, more solid theories and achievements that
reflect the justice and fairness of such a financial system that far transcends and supersedes any
other financial system.
CIBAFI members play a major and fundamental role in supporting CIBAFI mission in
accomplishing its objectives to better represent the Islamic finance industry and foster it whenever
deemed necessary, whether in seminars, or in forums or conferences.
The information included in this directory reflects the history of CIBAFI achievements rather than
its future projects and the qualitative metamorphose the council longs to achieve in the long run
with the support of its Board of directors and Executive committee.
I am looking forward to the accomplishment of CIBAFI objectives with the guidance of its Board
of directors, and making of the Council a loud voice calling for a global equitable financial system
capable of saving the humanity from the instability that led to the downgrade of development and
the widespread of poverty among developing countries with a figure that reached one billion people
according to the UN development program.
It is expected that the Islamic finance industry plays its crucial role in the mitigation of sufferance ,
and this is what CIBAFI aims to achieve.
God bless the whole Ummah,,,
Dr. Omar Z.Hafiz
Secretary General
General Council for Islamic Banks
And Financial Institutions
Corporate Profile
We Care For Islamic Finance Industry And
Represent It Around The World