BURKINA FASO, 24 October — The general secretariat of the General Council for Islamic Banks and Financial Institutions (GCIBFI) held its second general assembly meeting here on Monday, in which it discussed the industry’s current challenges. The meeting discussed in particular the tendentious and skeptical campaigns from the media and lobbying groups in the West, according to Dr. Ezzedine Khoja, secretary general of the GCIBFI.
The participants commended the general council’s efforts in educating the decision makers and Western public opinion by the unique practices and competency of the Islamic financial institutions. They also praised its role in clarifying to decision makers and Western public opinion that the Islamic financial institutions were working under the supervision and control of the regulatory authorities in their respective countries just like the conventional banks.
The general assembly recommended that the general council should continue to perform the media campaign throughout the world. The general council should in particular concentrate on executing programs that will cover Islamic countries in the Far East, Asia, Africa, Europe, and America.
The meeting valued the general council’s efforts in producing the first educational documentary film about the Islamic banking industry, which will be addressed to the Western public opinion. The meeting also appreciated the success of the International Islamic Finance Conference (IIFC) which was held in Washington D.C. in September. The IIFC was attended by more than 150 participants and was opened by Ahmed ibn Mohammed Al Khalifa, governor of the Bahrain Monetary Agency, Randal Quarles, assistant secretary of treasury, Congressman Bob Barr (R-GA), and Ezzedine Khoja, general secretary of GCIBFI.
