ISTANBUL, June 4, 2026 (SUNA) – The General Council for Islamic Banks and Financial Institutions (CIBAFI), in cooperation with Al-Baraka Forum for Islamic Economy, organized a high-level meeting of Islamic banking federations and associations in Istanbul, Türkiye, under the title: “Enhancing the Global Presence of Islamic Banking: Unifying Efforts and Consolidating Representation and Cooperation Through the General Council’s Leading Role.” The meeting is regarded as the first of its kind in the history of the Islamic finance industry, bringing together leading representatives of Islamic banking federations and associations from around the world under one umbrella with the aim of establishing an institutional framework for coordination, cooperation, and joint international action, while strengthening the collective representation and unified voice of the Islamic finance industry on the global financial stage. Secretary-General of the General Council for Islamic Banks and Financial Institutions Hamza K. Bawazir stressed the importance of moving toward a more advanced stage of joint institutional work that strengthens the industry’s collective presence at national, regional, and international levels, praising Al-Baraka Forum for hosting the event. Bawazir described the meeting as “a historic and exceptional event” because it brings together Islamic banking federations and associations for the first time under a common platform for dialogue and planning. He noted that the gathering represents the beginning of a long-term path of sustainable institutional cooperation, including the launch of initiatives that enhance the industry’s global representation.  For his part, Secretary-General of Al-Baraka Forum for Islamic Economy Yousuf Hassan Khalawi stressed that strengthening the position of Islamic banking requires intensified dialogue and cooperation among all stakeholders. He noted that the meeting lays the foundation for a sustainable cooperation platform that could later be expanded to include related professional institutions such as Takaful insurance bodies and associations specializing in Sharia auditing and accounting. He added that “building integrated institutional partnerships will contribute to developing joint initiatives capable of addressing future challenges and supporting the sustainable growth of Islamic finance globally.” Discussion sessions addressed several shared priorities, including strengthening the role of professional associations, exchanging knowledge and innovation, and active participation in regulatory and legislative issues, in a manner that reinforces the position of Islamic banking within the international financial system. Participants agreed on the importance of continuing this path through regular meetings and developing joint working mechanisms that strengthen global representation and support the launch of practical initiatives serving the growth and sustainability of the sector. CIBAFI is expected to compile and refine the meeting’s recommendations in preparation for announcing them as a roadmap for international cooperation projects in the field of Islamic finance. It is worth noting that the General Council for Islamic Banks and Financial Institutions is an international organization affiliated with the Organization of Islamic Cooperation (OIC), established in 2001 and headquartered in the Kingdom of Bahrain. It comprises more than 140 institutions from over 30 countries. Al-Baraka Forum for Islamic Economy is a global intellectual institution concerned with advancing Islamic economic and financial knowledge and enhancing its developmental impact.BH/BH