A delegation of the Islamic Research and Training Institute (IRTI) has held in Tunis City – Tunisia, a consultative meeting with the senior management of the Jumhouria Bank of Libya to discuss implementation of the bank's Islamic banking conversion project. The project is being executed under a memorandum of understanding signed between the two institutions.
The IRTI delegation includes Acting Director General Dr. Sami Al Suwailem, Dr. Osman Babikir and Mr. Ahmed Fadhlan Yahya. Jumhouria Bank was represented at the meeting by Dr. Khalid Al-Mabrouk, the Chairman of the Bank's Board of Directors; Mr. Abdul Razzaq Al-Tarhouni, the General Manager of the Bank; Mr. Ezzeddine Al-Zahaf, Chairman of the Islamic Banking Conversion Committee; Mr. Jamal Abdul-Zaher, Head of Islamic Banking Sector; and Mr. Hasan Ladin, the Coordinator of the Supreme Committee for the conversion exercise.
The meeting discussed the role of IRTI in conducting evaluation and assessment on the progress achieved by the bank in the process of its Islamic banking conversion, and in providing technical advice to ensure that the bank's operations fully conformed to Islamic financial standards. The meeting also reviewed the strategic direction and vision of the bank in providing innovative solutions in the fields of finance, risk management, governance, supervision and banking supervision, in line with Islamic banking applications and the regulations of the Central Bank of Libya.
In the area of capacity and skills development of the bank's employees in the field of Islamic banking, the meeting discussed the strategic plan of IRTI in training and developing the capacity of the bank's employees. This capacity development is significant in ensuring the success of the conversion plan of the bank in order to remain as Islamic banking leader of the Libyan banking market.