BisB Supports AAOIFI’s 14th World Bank Conference as a Silver Sponsor

Press release

Published November 4th, 2019 - 06:34 GMT

During the event

Highlights

Bahrain Islamic Bank (BisB) has announced its Silver sponsorship of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) 14th World Bank Conference

Bahrain Islamic Bank (BisB) has announced its Silver sponsorship of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) 14th World Bank Conference, which will be held on the 3rd and 4th of November at the Gulf Hotel under the theme of “Revolutionary Changes in Global Islamic Finance Ecosystem: Need for Governance, Standardization and Regulatory Support”.

The list of speakers at the conference will include a prominent group of Islamic scholars bringing together senior representatives from Central Banks, regulatory authorities, financial institutions, accounting and auditing firms, legal firms, universities, higher education institutions and the media all under a single roof. The aim of the conference is to discuss a wide range of topics and promote knowledge sharing, all of which are important to the future development of Islamic finance.

“Our sponsorship of this conference comes as a result of our eagerness to support events and programs which aim to elevate the Islamic banking sector. AAOIFI’s 14th World Bank Conference is the ideal platform to discuss the latest developments in the Islamic finance industry and address its challenges head-on,” said Mr. Hassan Jarrar, the Chief Executive Officer of BisB.

The conference will tackle various topics including methods of overcoming the regulatory challenges posed by technology disruptions and technology-based unregulated financial intermediation, the need for Shari’ah rules and governance mechanism in block chain-based smart contracts, addressing opportunities and challenges of Islamic crowdfunding, and the Shari’ah decision making process. The AAOFI conference will also feature several panel discussions on FinTech and other significant topics.

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.