The Bahrain Institute of Banking and Finance (BIBF) recently concluded its second training course on the "Demystification of the Selected AAOIFI Sharia Standards", in line with the Institute’s aspirations to strengthen Bahrain’s position as a regional hub for Islamic Finance.

The 3-day master class concluded with a certificate distribution ceremony, awarded by BIBF Deputy Director Dr. Ahmed Al Shaikh.

"BIBF has maintained its lead in the field of Islamic Finance training, evident through the cooperation and partnerships it has cultivated with international legislative bodies such as AAOIFI. We are committed to supporting the expansion goals of the local and regional Islamic Finance industry by providing the market with highly skilled, qualified professionals", he noted during his opening speech.

An elite group of think tanks and subject matter experts delivered the training, including Shaikh Dr. Nizam Yaquby, and Shaikh Essam Eshaq, two of the most prominent Sharia scholars in the industry. Instructors also included Dr. Sha'ban Mohamed Barwari, Head of Sharia Compliance at T’azur; Dr. Bernard Barbour, Head of Legal & Sharia Affairs at Q-Invest and Dr. Anwar Misbah Soubra, Head of Sharia Compliance at Bank Nizwa.

BIBF’s Acting Head of the Centre for Islamic Finance, Dr. Ahmed Asad, highlighted the benefits of programme, which aims to clarify the applications of the AAOIFI Standards in common Islamic banking tools, as well as explain their legal implications. "As a global leader in Islamic finance training, it is our role to keep Islamic finance practitioners up-to-date with latest developments and trends within this field", he added.

The Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) is an international, autonomous non-profit-making corporate body based in Bahrain, and prepares accounting, auditing, governance, ethics and Sharia standards for Islamic financial institutions and the industry.

Courtesy: Bahrain Institute of Banking and Finance - BIBF.