General Council for Islamic Banks and Financial Institutions (CIBAFI) and the World Bank Group jointly organised an international conference on `Corporate Governance of Islamic Financial Institutions: Overcoming Challenges and Implementing Best Practices' recently in Kuala Lumpur, Malaysia.
Md. Mahbub ul Alam, Managing Director & CEO of Islami Bank Bangladesh Limited (IBBL), addressed the conference as a session speaker. Experts of Islamic financial institutions from different countries of Europe, America, Africa and Asia attended the conference, according to a statement.
Md. 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.
He said that Islamic Financial Institutions (IFIs) do not allow Riba, gambling, speculation and uncertain transactions which create bubbles in the economy.
The boards of IFIs play active role in compliance of these issues with utmost sincerity and transparency which upholds the right of stakeholders, he added.
He called upon all concerned to follow the guidelines of Islamic Financial Services Board (IFSB) to continue the sustainable development and economic growth.
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