The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) together with the Islamic Development Bank Group (IsDB), represented by IsDB Institute (IsDBI), is set to host the 18th edition of its annual Islamic banking and finance conference under the auspices of the Central Bank of Bahrain. The two-day conference will be held physically at the Crowne Plaza, in Kingdom of Bahrain, on 29-30 November 2023, with the theme “Strategies for the Impending Economic Slowdown and a Post Oil World: Through Economic Diversification and Leveraging Islamic Finance”.

The annual conference is regarded as one of the most significant gatherings in the Islamic finance industry where Shari’ah scholars, policymakers, and decision-makers convene to discuss pressing matters in the Islamic finance industry globally.

The conference will be broadcast live on Zoom, YouTube, and other social media platforms for the benefit of a broader stakeholder base. It will be supported by a variety of partners and sponsors, including Islamic banks and financial institutions, academic institutions, technology, as well as, other support service providers and knowledge-sharing platforms.

H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman, AAOIFI Board of Trustees stated on this occasion, “AAOIFI is pleased to hold the annual conference in Bahrain once again. 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”.

The two-day conference will feature keynote addresses from dignitaries and policymakers, as well as, seven panel discussion sessions. The panel discussions will examine the role of Islamic finance and Islamic fintech in diversifying economic activity in the 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 challenges of Sukuk Shari’ah compliance and governance and Islamic finance accounting for hyperinflation will be discussed. 

Dr. Sami Suwailem, Acting Director General of IsDB Institute and Chief Economist, IsDB Group, commented on this occasion, “The Islamic Development Bank is committed to supporting the Islamic finance industry and, in particular, infrastructure institutions like AAOIFI which leads the standard-setting efforts of the industry. 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.”

HE Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, also commented on this occasion, “The Central Bank of Bahrain is pleased to continue its support the AAOIFI-IsDB conference. This year, the conference will explore the spectrum of possibilities offered by Islamic finance in navigating unchartered economic shifts and post-oil realities. We believe that the potential of Islamic finance is largely untapped and that it is only through ongoing discussions and deliberation, trial and errors, 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.”

AAOIFI is also organising the first-ever ‘Capacity Building Week’, which will begin on 28 November 2023 and run through 04 December 2023, after conference on 29-30 November 2023. The five-day celebration of human capital development in Islamic finance is expected to attract more than 200 trainees from at least 30 countries to participate in 17 concurrent workshops led by around 25 master trainers.

For registration and more information about the event, please click: https://aaoifi.com/18th-aaoifi-isdb-conference-to-be-held-in-bahrain/?lang=en

About AAOIFI: 

AAOIFI, established in 1991, and based in the Kingdom of Bahrain, is the leading international not-for-profit organization primarily responsible for development and issuance of standards for the global Islamic finance industry.

AAOFI is supported by over 160* active institutional members, including central banks and regulatory authorities, financial institutions, accounting and auditing firms, and legal firms, from over 45* countries.

It has 117* standards and technical pronouncements in issue in the areas of Shari’ah, accounting, auditing, ethics and governance for international Islamic finance. 43* regulatory and supervisory authorities (RSAs) in 36* countries around the globe adopt and / or recognise AAOIFI standards and technical pronouncements either fully, partially, as guidelines, as supplementary reporting or as a basis of development of local standards / regulations.

Professional fellowship programs (such as Certified Islamic Professional Accountant (CIPA), Certified Shari’ah Expert (CSE) and Certified Shari’ah Auditor (CSA), as well as, certification programs (such as Certificate of Proficiency in Financial Accounting Standards (CPFAS)) are also offered by AAOIFI, in Arabic English and Russian languages, in its efforts to enhance the industry’s human resource bases and governance structures.

For more information, please visit: www.aaoifi.com. For conference partnership related enquiries, please contact Mr. Yaser Rifat on yrifat@aaoifi.com.  

* as of August 2023

CONTACT US
Office 1001, 11th floor, Al Nakheel Tower,
Building 1074, Road 3622, Seef District 436,
Kingdom of Bahrain
Email: info@aaoifi.com

About IsDB: 

The Islamic Development Bank is a multilateral development bank (MDB) that has been working for nearly 50 years to improve the lives of the communities it serves by promoting socio-economic development and delivering impact at scale.

The IsDB brings together 57 member countries across four continents - touching the lives of 1 in 5 of the world’s population.

It is one of the world’s most active MDBs, and a global leader in Islamic Finance, with an AAA rating, and operating assets of more than USD 16 billion and subscribed capital of USD 70 billion.

The IsDB is a truly global institution, headquartered in Jeddah, Kingdom of Saudi Arabia, with a Center of Excellence in Malaysia and major hubs in Morocco, Kazakhstan, Senegal, Egypt, Turkey, Indonesia, Bangladesh and Nigeria.

The mission of the IsDB is to equip people to drive their own economic and social progress at scale, putting the infrastructure in place to enable them to fulfil their potential. The Bank builds collaborative partnerships among communities and nations in a uniquely non-political environment, and works towards driving the UN Sustainable Development Goals, by harnessing the power of science, technology and innovation and fostering ethical and sustainable solutions to the world’s greatest development challenges.

CONTACT US
8111 King Khalid St.
AI Nuzlah AI Yamania Dist. Unit No. 1
Jeddah 22332-2444
Kingdom of Saudi Arabia
Email : info@isdb.org

About the IsDB Institute (IsDBI)

The IsDB Institute (IsDBI) is the knowledge beacon of the Islamic Development Bank Group. Guided by Islamic economics and finance principles, the IsDB Institute is mandated to lead the development of innovative knowledge-based solutions to support the sustainable economic advancement of 57 Member Countries and various Muslim communities worldwide. Established in 1981 as the Islamic Research and Training Institute (IRTI), the Institute was renamed in April 2021 with the aim to better align it with IsDB’s emerging priorities and enable the Institute to effectively lead innovative knowledge-based solutions for the sustainable development.

For more information, please visit: www.isdbinstitute.org