Mediterranean Islamic Finance Forum highlights Islamic finance opportunities post COVID-19

Manama, Nov. 18 (BNA): The General Council for Islamic Banks and Financial Institutions (CIBAFI), the official global representative of Islamic financial institutions (IFIs), the Association of the Mediterranean Chambers of Commerce and Industry (ASCAME), and the Barcelona Chamber of Commerce have convened the sixth Mediterranean Islamic Finance Forum (MIFF) virtually. This year’s online forum focused on “Islamic Finance in the Post COVID-19 Era: A Pathway for Economic Development and Resilience”. The Forum was led by CIBAFI as part of the MedaWeek Barcelona 2021 and gathered decision-makers, investors, entrepreneurs, senior executives from financial institutions, business leaders, policy makers, regulators, heads of government and ministers from all around the Mediterranean, Europe and the Middle East. The panel session of the MIFF discussed the effects of the pandemic and how institutions respond to create opportunities and face challenges and strengthen the industry post coronavirus. The session also tackled how Islamic finance helps achieve the Sustainable Development Goals (SDGs) and how it could play a vital role in furthering economic development and fostering prosperity in the Mediterranean and African regions. The session highlighted the importance of technology and innovation as a driving force for Islamic finance penetration in developing and emerging regions, such as the Mediterranean. The Forum is aligned with CIBAFI’s strategic objective to promote and facilitate the growth of Islamic finance. CIBAFI continues to support the Islamic financial services industry through various activities and initiatives.