BisB ‘Gold Sponsor’ of AAOIFI Shari’ah Board Conference

TDT | Manama                                                

The Daily Tribune – www.newsofbahrain.com     

Bahrain Islamic Bank (BisB) 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 which opened yesterday concludes today at at the Crowne Plaza Hotel.

At the convention’s outset, three sessions were held on the first day: “Legislative Developments in the Islamic Financial Industry,” “Rulings and Effects of Commitment to Charity in Case of Procrastination of Debt Settlement,” and “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.”

The sessions were attended by Sheikh Dr. Abdul Latif Al Mahmood, Chairman of the Sharia Supervisory Board at BisB.

On the second and final day of the convention, three more panel sessions are scheduled: “Digital Assets and Islamic Banking,” “Rules of Fairness in Distributing Profits of Investment Accounts in Islamic Banks,” and “The Impact of Need and Necessity in Contemporary Islamic Financial Transactions.”

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.