9 th IDB Global Forum on Islamic Finance PRESENTED AT: Hilton Hotel Jeddah, Saudi Arabia | 24 th June 2014 GENERAL COUNCIL FOR ISLAMIC BANKS AND FINANCIAL INSTITUTIONS

CIBAFI GENERAL COUNCIL FOR ISLAMIC BANKS AND FINANCIAL INSTITUTIONS General Council for Islamic Banks and Financial Institutions (CIBAFI) is a non-profit institution that constitutes the official umbrella for Islamic financial institutions in the world. CIBAFI was founded by the Islamic Development Bank and 30 members, following its 13 years of operations CIBAFI membership, have increased to 105 members.  Objectives of CIBAFI: Promoting & Protecting Islamic Finance Enhancing Cooperation among members and with other institutions of similar interest Providing information related to Islamic Finance Promoting interest of members Participating in the development of the Islamic Financial Services Development of human resources

Islamic Finance in 2000 Size: USD 80 billion Countries: 51 Regulatory Framework – AAOIFI – Shariah standards -9 – Accounting standard - 14 – Auditing - 5 – Ethics - 1 – Governance - 3 Islamic Finance in 2014 Size: USD 2 trillion expected (USD 1.8 trillion in 2013) Countries: 75 Regulatory Framework AAOIFI – Shariah standards -48 – Accounting standard -26 – Auditing - 5 – Ethics - 2 – Governance - 7 IFSB est – 16 Standards, 5 GN, 1 TN; IIFM est – 5 Standards on documentation Islamic Finance Evolution GENERAL COUNCIL FOR ISLAMIC BANKS AND FINANCIAL INSTITUTIONS

Assessment & Industry Expectations GENERAL COUNCIL FOR ISLAMIC BANKS AND FINANCIAL INSTITUTIONS In light of these developments in order to remain relevant in our mission to our stakeholders, under the guidance of its Board of Directors (BOD), CIBAFI has engaged into a wide consultation process with its stakeholders. The consultation included:  Formal meetings and direct discussions with the industry  Formal survey reaching to our stakeholders, members and nonmembers from the Islamic Financial Services Industry (IFSI)  Secretariat received complete questionnaires from 66 respondent representing 27 countries

OUTCOMES Strategic Objectives OUTPUTS Continuous assessment process Strategic Goals / Impact NEEDS AND EXPECTATIONS GENERAL COUNCIL FOR ISLAMIC BANKS AND FINANCIAL INSTITUTIONS Input/Activities Members Experts Group (MEG) Secretariat General Assembly Islamic financial services industry Understanding the Stakeholders BOD/Executive Committee Islamic financial services industry Understanding the Stakeholders Stakeholders Needs & Expectations

What you told us GENERAL COUNCIL FOR ISLAMIC BANKS AND FINANCIAL INSTITUTIONS Dialogue/exchange of views with central bank of member countries for enacting comprehensive Islamic Banking law there; arrange more training and awareness programs by affiliated training institutions. To promote activities that CIBAFI have held via s / newsletters / magazines To assist in establishing coordination amongst all the institutions for joint objectives To represent consolidated voice of the Islamic Financial Institutions in terms of its development and protecting its interest.  Also, would the Council consider simplifying its name – as CIBAFI is quite a long brand name and not the easiest abbreviation to remember? Arranging get together of the industry operators and the regulators periodically with a view of sharing industry best practices. To assist in establishing coordination amongst all the institutions for joint objectives Promote mutual friendship and the exchange of information amongst members based in the Asia and Middle East To continue to promote what ethical financing is all about and help emerging Islamic finance institutions to thrive  CIBAFI should invest more time, money and human capital to improve its brand awareness in core markets and follow best practices of international organizations such as IIF and American Bankers Association.

Strategic action GENERAL COUNCIL FOR ISLAMIC BANKS AND FINANCIAL INSTITUTIONS Members Strategy Session - 9 th of Ramadan 1435H, corresponding to 6 th July 2014 at noon 12.00hrs Hilton Hotel, Jeddah, Saudi Arabia Strategic Goals Action Plan/ Work Plan Strategic Objectives

GENERAL COUNCIL FOR ISLAMIC BANKS AND FINANCIAL INSTITUTIONS THANK YOU Abdelilah Belatik Secretary General, CIBAFI