AAOIFI and IsDB to Host 18th Annual Islamic Banking and Finance Conference in Bahrain

BAHRAIN: The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Development Bank Group (IsDB) are set to host the 18th edition of their annual Islamic banking and finance conference in Bahrain on 29-30 November 2023. The conference, held under the auspices of the Central Bank of Bahrain, will focus on the theme “Strategies for the Impending Economic Slowdown and a Post-Oil World: Through Economic Diversification and Leveraging Islamic Finance”.

The two-day conference is regarded as one of the most significant gatherings in the Islamic finance industry, bringing together Shari’ah scholars, policymakers, and decision-makers to discuss pressing matters in the industry globally. The conference will feature keynote addresses from dignitaries and policymakers, as well as seven-panel sessions examining the role of Islamic finance and Islamic fintech in diversifying economic activity in Muslim countries, challenges and opportunities resulting from inflation and high benchmark rates, and the use of Islamic finance in the development of infrastructure for climate change mitigation.

In addition, the conference will discuss the challenges of Sukuk Shari’ah compliance and governance and Islamic finance accounting for hyperinflation. AAOIFI is also organizing the first-ever ‘Capacity Building Week’ from 28 November to 4 December 2023, expected to attract more than 200 trainees from at least 30 countries to participate in 17 concurrent workshops led by around 25 master trainers.

H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman of the AAOIFI Board of Trustees, stated, “We eagerly anticipate engaging in discussions on vital issues and Islamic finance-based approaches and solutions that can effectively shape a resilient and sustainable economic future. We sincerely appreciate the Central Bank of Bahrain’s and IsDB’s unwavering support of AAOIFI and its significant initiatives, such as this important conference. Insha Allah, we look forward to hosting all AAOIFI stakeholders in Bahrain“.

Dr. Sami Al-Suwailem, Acting Director General of IsDB Institute, said, “The conference is an invaluable opportunity for key players and stakeholders to review the challenges facing the industry, evaluate the progress made in addressing them, and propose action plans to enhance the contribution of the industry to the sustainable development of member countries.”

H.E. Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, also commented, “We believe that the potential of Islamic finance is largely untapped and that it is only through ongoing discussions and deliberation, trial and error, and steadfast commitment to innovation that we can fully harness its transformative power. This conference serves as a vital forum to propel these conversations and drive Islamic finance to cater to local economies.“

For registration and more information about the conference, visit the AAOIFI website. The IsDB Institute leads the development of innovative knowledge-based solutions to support the sustainable economic advancement of IsDB Member Countries and various Muslim communities worldwide. More information about the IsDB Institute is available on their website.