Bahrain Islamic Bank Gold Sponsor for AAOIFI’ Islamic Banking and Finance

18-November-2014

Bahrain Islamic Bank (BiSB) has announced its gold sponsorship of the Annul Conference on Islamic Banking and Finance of the Accounting and Auditing Organization for Islamic Financial Institutions, which will be held on 17-18 November 2014 at the Diplomat Hotel in the Kingdom of Bahrain. The event will be held under the auspices of the Central Bank of Bahrain (CBB) and organized by AAOIFI.

Commenting on this occasion, Mr. Mohammed Ahmed Hassan, BiSB’s Acting Chief Executive, said: “BiSB is always pleased to participate in and support this conference which brings together a group of scholars, Fuqaha and specialists in Islamic banking from different Arab and Islamic countries to benefit from their knowledge and long expertise in this field.”

BiSB’s Acting Chief Executive said the conference will address a number of important issues, including global convergence with international accounting standards, the potential effects on the Islamic financial industry, benefiting from AAOIFi’s Shari’a standards in the legal systems, Islamic insurance from an accounting and Shari’a perspective, Basel III’s impact on the Islamic financial industry, Sukuk and capital markets as long term financing instruments, complications related to the AAOIFI-issued accounting Ijarah Standard and complications related to the AAOIFI-issued accounting Murabaha Standard.

Mr. Mohammed Ahmed Hassan concluded his statement saying: “I wish the conference all success, and the audience full benefit from the topics to be discussed. I seize this opportunity to invite the esteemed public and all participants to visit BiSB’s standard at the conference to learn about the activities, products and banking services provided by the Bank to its customers.”

It should be noted that BiSB has participated on a regular basis in all the events and programmes staged by AAOIFI in the Kingdom of Bahrain. This step by BiSB is part of its interest in Shari’a issues and in the legislation related to its investments and banking operations, as well as all the developments taking place in the banking and financial sector in this respect.