Manama, Kingdom of Bahrain
AAOIFI’s 24th Annual Shari’ah Boards Conference convenes in Bahrain
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the leading global standard-setting body for Islamic banking and finance, is hosting its 24th Annual Shari’ah Boards Conference, with the support of the Central Bank of Bahrain (CBB) and a number of sponsoring institutions, today and tomorrow, 11 and 12 October, at the Crowne Plaza Hotel in the Kingdom of Bahrain. The conference brings together distinguished international speakers and panellists, including Shari’ah scholars, regulators and Islamic finance experts from around the world.
The conference is one of the longest-established and most influential gatherings across the global Islamic finance industry. For more than two decades, it has served as a principal platform for harmonising Shari’ah opinion and strengthening Shari’ah and compliance governance across the industry.
The programme comprises five specialised sessions addressing a number of pressing contemporary Fiqh and technical issues, including the harmonisation of the AAOIFI Shari’ah Standards with legal systems, the estimation of the actual direct cost of lending, the controls governing dual-tranche syndicated financings that combine an Islamic tranche with a conventional one, the impact of newly arising circumstances on contracts and financial obligations, and the exchange of value against a binding commitment.
The opening ceremony featured keynote speeches by H.E. Shaikh Ebrahim bin Khalifa Al Khalifa, Chairman of the AAOIFI Board of Trustees; H.E. Dr. Ali Yassin Sheikh, Deputy Governor of the Central Bank of Somalia; H.E. Dr. Rabiu Olowo, Executive Secretary and Chief Executive Officer of the Financial Reporting Council of Nigeria; and Mr. Omar Mustafa Ansari, Secretary General of AAOIFI.