HH the Prime Minister extends patronage to major regional forum in Bahrain

The event, which will be held at the Ritz-Carlton Hotel and Spa, is being organised by United Nations Economic and Social Commission for Western Asia (UN-ESCWA) in association with the Central Bank of Bahrain (CBB).

Keynote speakers at the conference will be led by H.E. Shaikh Ahmed bin Mohammed Al Khalifa, Minister of Finance, Kingdom of Bahrain, who is also Chairman of the Islamic Development Bank, the premier institution for development finance.

Other prominent keynote speakers include Mr. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain; Dr Rifaat Abdul Karim, Secretary General - Islamic Financial Services Board; Mr. Bader Al-Dafa, newly appointed Under-Secretary General and Executive Secretary - UN-ESCWA; and Mr. Amadou Boubacar Cisse, Vice President (Operations) - Islamic Development Bank.

'The Islamic banking and finance industry is seeing tremendous growth and expansion due to the burgeoning demand for financial services which conform to the principles of the Shari'a,'

said Mr. Khalid Hamad, Executive Director, Banking Supervision, at the CBB.

'However, while Islamic financial institutions are active in extending retail banking services, investment banking and other forms of finance, there is room for enhancing their role in development finance.'

The upcoming Forum is, thus, a timely and highly relevant event, which will focus on such key issues as the role of Islamic financial institutions in project finance, venture capital, the role and impact of sukuk as an instrument for development finance, strengthening inter-regional financing for development purposes and the future prospects of Islamic finance.

A high profile speaker line-up includes Dr Nazem Abdulla, Chief GRID - UN-ESCWA; Dr Ahmed Jachi, First Vice-Governor - Banque du Liban; Mr. Wafik Grais, Senior Advisor - World Bank; Dr Mohammed Nedhal Alchaar, Secretary General - Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI); and Mr. Ghiath Shabsigh, Chief, Monetary and Capital Markets Department - International Monetary Fund.

Leading confirmed participants include Shaikh Fahd Al Thani, Deputy Governor - Qatar Central Bank; and Mr Mohammed Bin Hamam, Deputy Governor - Central Bank of Yemen.