CIBAFI, WB Group hold int’l conference in Malaysia
General Council for Islamic Banks and Financial Institutions (CIBAFI) and World Bank (WB) Group has jointly organised an international conference on "Corporate Governance of Islamic Financial Institutions: Overcoming Challenges and Implementing Best Practices" at Kuala Lumpur in Malaysia recently.
Managing Director and Chief Executive Officer (CEO) of Islami Bank Bangladesh Limited (IBBL) Md Mahbub ul Alam addressed the conference as session speaker.
Experts of Islamic financial institutions from different countries of Europe, America, Africa and Asia attended the conference.
Mahbub ul Alam in his speech said the vision of Islamic banking is to work for the socio-economic development, ensuring distributive justice and maintaining the balanced growth of the economy.
Islamic Financial Institutions (IFIs) does not allow Riba, gambling, speculation and uncertain transactions which create bubbles in the economy, he said.
Boards of IFIs play active role in compliance of these issues with utmost sincerity and transparency which upholds the right of stakeholders, he added.
The IBBL Managing Director called upon all the concerned to follow the guidelines of Islamic Financial Services Board (IFSB) in order to continue the sustainable development and economic growth.