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Abdulhakeem Alkhayyat, CEO and Managing Director of KFH-Bahrain, said:
"The Conference has been held against a gloomy economic climate the world is currently witnessing. In spite of this, I feel that this Conference presents an appropriate opportunity for Islamic banks to market and promote the principles of Islamic banking and to clarify the reasons for prohibiting usury."
"The Conference is providing a unique and high profile platform for the advancement of the global Islamic banking industry. The exchange of viewpoints and ideas during the Conference, not only contributes to the growth of our knowledge, but also inspires excellence in our work. The AAOIFI Islamic Banking and Finance Conference is an excellent forum for discussion and for setting standards for the conduct of the Islamic financial business. The co hosting of the World Bank for this event is a clear vindication of the credibility that the AAOIFI enjoys and for the importance of Islamic banking in general", he added.
A number of renowned regional and international experts and practitioners from the Islamic banking and finance industry are participating in the conference and within the training courses.
The Conference is addressing several important topics including; .Shari'a harmonization, regulation and supervision; International accounting standards and the potential for Shari'a violation; Mechanism for conversion from conventional insurance to Takaful; Capital market and investment management, development and potential; Sukuk and Islamic Securitisation (Past and Future); Debt trading; and Tawarruq (monetisation).
The primary aim of AAOIFI is to set and issue accounting, auditing, ethics and Shari'a standards for the Islamic banking and financial industry in general.
Posted by Husam Odiabat
