Secretary General of CIBAFI delivered a Public Lecture on “Participation Finance - The Steady Way From Niche to Mainstream” at Istanbul Sehir University
The General Council for Islamic Banks and Financial Institutions (CIBAFI) held today a Public Lecture on “Participation Finance - The Steady Way From Niche to Mainstream” at Istanbul Sehir University, in Istanbul, Turkey. This lecture is focused on raising awareness on the subject of Participation finance in Turkey and falls into CIBAFI’s 3rd Strategic Objective: Awareness and Information Sharing.
The Public Lecture was an opportunity for CIBAFI to engage with academia and young students from Istanbul Sehir University on the role that Turkey is playing in the development of the industry globally. Participation finance is growing impressively in recent years, not just in traditional markets but all over the world. The industry has doubled in size almost every five years and is expected to reach USD 4 trillion by the end of 2020. The growth of participation finance has also benefited from the growing interest in ethical and responsible finance, due to the commonalities in value propositions and shared principles.
Commenting on The Public Lecture, Mr Abdelilah Belatik, Secretary General of CIBAFI said: “As we move on to 10 years post Global Financial Crisis, the face of finance and banking is gradually changing. Participation, ethical, sustainable, value-based finance are reshaping current financial architecture for the better.”
Commenting on The Public Lecture, Prof. Ahmet Faruk Aysan, Dean, Istanbul Sehir University said: “As Turkish economy is seeing a continuous growth and Participation finance is receiving great support from both corporates and public, it is an important time in Turkish economy to position ourselves as leaders in the region”.
This public lecture provided a perspective on global economy. The lecture has also put a spotlight on corporate governance practices of participation banks around the globe.
This initiative is part of CIBAFI’s strategic objective of promoting awareness and information sharing. In addition to raising awareness, CIBAFI continues to support the Islamic Financial Services Industry through various activities and initiatives. These include policy and regulatory advocacy work, providing industry stakeholders with a platform to discuss emerging issues, representing the industry at major global financial events, and sharing knowledge through specialized publications.