JBIC, Yoshida (Right)
Dr. Etsuaki Yoshida, Director and Senior Economist for the Country Credit Department of the Japan Bank for International Cooperation (JBIC), delivered a speech at the 2nd CIBAFI Global Forum, held in Jordan on May 8 and 9, 2017.
CIBAFI, General Council for Islamic Banks and Financial Institutions, was established in 2001 by Islamic Development Bank and other private financial institutions, which amount to 120 organizations from 31 countries. It aims to enhance cross-border communication and coordination among institutions within the Islamic financial industry on a global scale. Against this backdrop, this forum was intended to contribute to sound and comprehensive development of the industry.
Dr. Yoshida gave his insights by mentioning business strategy on Islamic finance under oil price fluctuations, and potential influence of regulatory trends in the U.K. and U.S. which limit banks' business domain upon institutions that offer Islamic financial services. He also touched on recent improvements in political uncertainty in Western countries and oil price volatility, under generally increasing opacity surrounding the world economy.
Under its statutory law, which was formally revised as latest in 2016, JBIC is authorized to offer Islamic financial services, which contribute to expansion of its product suites.
JBIC will strengthen its network with various types of international finance communities, by means of offering business information and others, to increase capacity of offering a wide variety of financial services.