BisB Emerges as a Golden Sponsor of AAOIFI’s 19th Annual Shari’ah Boards Conference

Press release
Published October 11th, 2021 - 08:06 GMT
BisB Emerges as a Golden Sponsor of AAOIFI’s 19th Annual Shari’ah Boards Conference
Mr. Hassan Jarrar , Chief Executive Officer of Bahrain Islamic Bank
Highlights
Bahrain Islamic Bank recently announced its golden sponsorship of the Accounting and Auditing Organization for Islamic Financial Institutions’ (AAOIFI) 19th annual conference

Bahrain Islamic Bank (BisB), a leading provider of Sharia compliant integrated financial solutions in the Kingdom of Bahrain, recently announced its golden sponsorship of the Accounting and Auditing Organization for Islamic Financial Institutions’ (AAOIFI) 19th annual conference, which will be held virtually under the patronage of the Central Bank of Bahrain on the 12th and 13th of October 2021.

Bringing together Shari’ah  scholars, leaders, and experts across the Islamic finance industry for two consecutive days, the conference will host four key panel discussions, seeking to discuss the need and future of AAOIFI Shari’ah standards of Sharia’a, as well as evaluate the process of developing, reviewing and amending the aforementioned standards. In addition, discussions will include the merging of Islamic banking funds with conventional banks, Sukuk Al Ijarah services, and Sukuk trading rules.

Commenting on the occasion, Hassan Jarrar, Chief Executive Officer (CEO) of BisB, said, “Our sponsorship of the AAOIFI conference cements our commitment towards contributing to the progress of the Islamic banking sector as whole, ensuring we continually keep up with the ongoing developments within this vital sector, at both domestic and international levels.”

The CEO added, “This prestigious conference brings together Islamic Sharia’a scholars, officials from central banks, alongside representatives of regulatory bodies, financial institutions, accounting and auditing and legal firms, universities, and higher education institutions from across the world, all under the same roof; enabling the discussion of a wide range of topics, all while encouraging knowing sharing and the exchange of ideas that will further support the growth of Islamic finance in the future.”

Background Information

Bahrain Islamic Bank

Incorporated in 1979 as the first Islamic bank in the kingdom of Bahrain, and the fourth in the GCC. Bahrain Islamic Bank (BisB) has played a pivotal role in the development of the Islamic banking industry and the Kingdom’s economy. The Bank operates under an Islamic Retail banking licence from the Central Bank of Bahrain and is listed on the Bahrain Bourse.

At the end of 2016, the Bank’s paid up capital was BD 101 million, while total assets stood at BD 1042 million. The Bank’s modern branch network comprises 5 branches, 4 innovative financial malls, and 56 ATMs located throughout the Kingdom. A steadfast focus on continuous innovation, strong corporate governance and risk management, employee development, and the use of state of the art technology to deliver superior customer service, has cemented Bahrain Islamic Bank’s position as the leading Sharia’a – compliant bank in the Kingdom.

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