Bahrain Institute of Banking and Finance (BIBF) and Islamic Development Bank Institute (IsDBI) Collaborate to Enhance Global Islamic Finance Expertise

MANAMA, BAHRIN: The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have announced a collaborative initiative to enhance the expertise of the global Islamic finance community. The partnership aims to provide specialized training programs for professionals from various financial institutions, regulatory bodies, supervisory authorities, and legal experts within the Islamic finance industry.

The first workshop, titled “Risk Management and Stress Testing for Islamic Financial Institutions,” is scheduled for October 2023. The workshop will provide practical guidance on building strong risk management frameworks, aiding Islamic financial institutions in effectively handling key risks, including concentrations, Expected Credit Losses (ECL) under IFRS-9, Shariah-compliant securitization, and off-balance sheet exposures. The workshop will also include solvency stress testing simulations based on the Islamic Financial Services Board (IFSB) and IFRS-9 ECL frameworks.

Dr. Sami Al-Suwailem, Acting Director General of IsDBI, expressed his pleasure in joining hands with BIBF to offer specialized programs to strengthen the human capital of the Islamic finance industry. Dr. Ahmed Al Shaikh, CEO of BIBF, emphasized their commitment to the partnership, saying that their collaboration with the Islamic Development Bank through IsDBI aims to extend their reach and serve a wider audience, including the member countries of the Islamic Development Bank.

Dr. Ahmed Al Shaikh, CEO of the BIBF, emphasized their commitment to the partnership, saying, “Our collaboration with the Islamic Development Bank through IsDBI aims to extend our reach and serve a wider audience, including the member countries of the Islamic Development Bank.”

This partnership between IsDBI and BIBF focuses on elevating the industry, forging international connections, and nurturing talent on a global scale. For further information about the upcoming workshop and registration details, interested parties can contact [email protected] or register directly through the BIBF website.

In conclusion, the collaboration between BIBF and IsDBI is a significant step towards enhancing the expertise of the global Islamic finance community. The specialized training programs offered through this partnership will aid professionals in effectively handling key risks and building strong risk management frameworks.