Bahrain: The "Islamic Banking & Digital Revolution" seminar, jointly hosted by the Bahrain Chapter of ICAP Members, AAOIFI Bahrain, and the Bahrain Institute of Banking & Finance (BIBF), was successful today. This hybrid event, broadcast live on Zoom and Facebook, attracted a global audience and was marked by insightful discussions and valuable insights.

Key Highlights of the Seminar:

1. Welcome and Inauguration:

The event commenced with a warm welcome to all attendees. Mrs. Aisha Fazal, the master of ceremony, set the tone for the day.

Dr. Rizwan Malik, head of Islamic Finance Centre at BIBF delivered a welcoming note on behalf of BIBF. Mr. Muhammad Saeed Butt, Chairman of the Bahrain Chapter of ICAP Members, welcomed the distinguished guests and participants and thanked the sponsor and support organisations.

2. Special Address by H.E. Muhammad Ayub:

H.E. Muhammad Ayub, Ambassador of Pakistan to Bahrain, delivered an enlightening speech on the seminar's subject matter. He highlighted the growing role of Islamic banking and finance in Bahrain and Pakistan. He said Bahrain has become a leader and hub of Islamic banking and finance. He also highlighted Pakistani banking and finance experts' contributions to promoting Islamic banking in the GCC and globally.

3. Standardization and Best Practices:

Mr. Omar Mustafa Ansari, Secretary General of AAOIFI Bahrain, presented the Value Proposition of Standardization and Best Practices in Islamic Finance.

4. Panel Discussion - Role of Standard-Setting Bodies:

A panel discussion moderated by Dr. Rizwan Malik featured:

  • Mr. Ijlal Alvi (CEO of IIFM Bahrain)
  • Mr. Omar Mustafa Ansari (Secretary General of AAOIFI Bahrain)
  • Ms. Sabeen Saleem (CEO of IIRA Bahrain)
  • Mr. Lilian Le Falher (Head of Treasury and Capital Markets at KFH Bahrain)

5. Presentation on Islamic Banking & Digital Revolution:

Mr. Noor Ur Rehman Abid, Member, Board of Trustees at KFH delivered an insightful presentation on this critical subject with comprehensive coverage of real-life examples and statistics.

6. Panel Discussion - Fintech's Role in Islamic Finance:

Moderated by Mr. Mughees Shaukat, the panel included:

  • Mr. Aman Khan (CFO of Khaleeji Bank Bahrain)
  • Mr. Ashar Nazim (Group CEO of Aion Digital Bahrain)
  • Mr. Farhan Noor (Head of Capacity Building at AAOIFI Bahrain)
  • Mr. M. Tayyab Raza (Director of Finance Vision Bank KSA)

7. Showcase of Fintech Solutions:

Successful Fintech solutions for Islamic Finance were presented by

  • KFH Jazeel Banking App by Mr. Talal Hasani from Bahrain
  • AAOIFI E-learning App by Mr. Farhan Noor from Bahrain
  • Tayyab Digital App by Mr. Daniyar Uspanov from Kazakhstan
  • AIX Digital App Mr. Birzhan Astayev from Kazakhstan
  • FINTERRA Digital App by Mr. Hamid Rashid from Malaysia
  • Almabrook Digital App by Mr. Fahad Siddiqui from Canada

Visionary concepts in Islamic banking were explored, paving the way for future innovations. Mrs. Aisha Fazal provided insightful concluding remarks, summarising the discussions while the event provided ample opportunities for networking and interaction among attendees.

This seminar celebrated the confluence of Islamic finance and the digital age, offering a platform for exchanging ideas and knowledge. The organizing and management committee of the event extend its gratitude to  sponsors, support organisations, and the distinguished speakers for their unwavering support and valuable contributions making this event a resounding success.

About the Organizers:

The Bahrain Chapter of ICAP Members, the Institute of Chartered Accountants of Pakistan, AAOIFI Bahrain, and the Bahrain Institute of Banking & Finance (BIBF) are committed to advancing knowledge and fostering collaboration in Islamic finance and digital transformation.