WIBC 2015 SET TO LAUNCH INNOVATIVE BENCHMARK FOR GLOBAL ISLAMIC BANKING

(Foto:IINA)

Jeddah, 5 Dhulqo’dah 1436/20 August 2015 (MINA) – In its efforts to enhance the performance and quality of the Islamic banking industry, the World Islamic Banking Conference (WIBC) announced that it will be developing a comprehensive performance assessment framework to help Islamic financial institutions assess their ranking and performance vis-à-vis their competitors, Saudi Gazette reported.

The 22nd annual WIBC 2015 will take place on 1st, 2nd and 3rd December in Bahrain.

Specifically, the WIBC Performance Indicator will form the basis of the annually anticipated WIBC performance awards that will be announced at the WIBC Gala Dinner on the 2nd of December.

The WIBC Leaderboard, a truly innovative performance assessment, will provide rankings of the top Islamic banks and financial institutions based on a variety of robust financial and governance metrics such as asset growth, return on equity, return on assets, disclosures, corporate social responsibility and Shariah governance.

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The Leaderboard will provide industry participants a visually engaging view of Islamic banks to compare themselves with their peers at the global, regional and national levels across several dimensions.

In addition to the individual metrics, banks will also be ranked on the basis of an aggregate score, which forms the apex of the WIBC Leaderboard.

This aggregate index holistically ranks entities on the basis of the aforementioned financial and governance measures. The Leaderboard will therefore act as a benchmark for Islamic banks to gauge their performance against the top performing banks in the industry.

The WIBC Leaderboard aggregate scores will be the basis of the WIBC performance awards to be awarded to the top global and regional banks at the much-awaited WIBC 2015. In addition to the regional and global awards, the top most performing banks in each country with a developed Islamic banking sector will also be awarded. (T/Imt/R04)

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Mi’raj Islamic News Agency (MINA)