BisB a ‘Gold Sponsor’ of the 21st Edition Annual AAOIFI Shari’ah Board Conference

07-May-2023

Bahrain Islamic Bank (BisB), the leading provider of Islamic digital banking services in the Kingdom of Bahrain, has announced its Golden sponsorship of the 21st Edition of the Annual AAOIFI Shari’ah Board Conference. The convention is held under the patronage of the Central Bank of Bahrain and is organized by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). The 2023 Conference will take place between the 7th and 8th of May 2023 at the Crowne Plaza Hotel.

The Annual AAOIFI Conference brought together dignitaries, Shari’ah scholars, policy-makers, industry leaders, and Islamic finance experts to discuss a number of topics through the conduit of various panel sessions. On the first day of the convention, the following sessions took place; the first titled ‘Legislative Developments in Islamic Financial Industry’; the second titled ‘Rulings and Effects of Commitment to Charity in Case of Procrastination of Debt Settlement’; and the third titled ‘Shari’ah Rules, Provisions, Issues, and Challenges in Respect of Acquisition of a Conventional Bank by an Islamic Bank and Vice Versa and Conversion of a Conventional Bank to Islamic Bank’ – with the attendance of his Eminence Sheikh Dr. Abdul Latif Al Mahmood, Chairman of the Sharia Supervisory Board at BisB. On the second and final day, the fourth panel session will take place titled ‘Digital Assets and Islamic Banking’; the fifth session titled ‘Rules of Fairness in Distributing Profits of Investment Accounts in Islamic Banks’; and the final session titled ‘The Impact of Need and Necessity in Contemporary Islamic Financial Transactions.’

On this occasion, Mr. Yasser Alsharifi, Chief Executive Officer of BisB, said: ‘We are proud of our continued sponsorship of the AAOIFI Conference, which sheds light on the essential developments within the Islamic banking sector, ensuring the interpretation of global financial trends. Moreover, the Conference precipitates the sharing of knowledge and expertise between elite scholars of Islamic law, officials from central banks, regulatory bodies, financial, accounting, and auditing institutions, law firms, universities, and higher education institutions from across the world under one roof.