KUWAIT CITY, Nov 30: Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the World Bank today announced Kuwait Finance House Group (KFH-Group) as the Platinum Sponsor for the 10th Annual AAOIFI — World Bank Conference on Islamic Banking and Finance to be held in the Kingdom of Bahrain on the 6th and 7th of December 2015.
The event, also supported by the Central Bank of Bahrain (CBB), is set to gather more than 300 global financial industry experts to address key issues sup-porting and hindering growth in the sector. In particular, the conference will focus on the continued development of international Islamic capital markets including Sukuk, Islamic private equity, venture capital and “crowd funding”. As in previous years, discussions will also center on progress being made in standardisation and harmonisation of international Islamic financial practices, a key precursor to the effective globalization of the industry and the adoption of Islamic financial instruments and practices worldwide.
KFH-Group, considered a pioneer in Islamic banking and finance with operations across the GCC, MENA region and Asia, is a long standing sponsor of the event and other industry initiatives geared at supporting development and excellence. Representing KFH-Group at the conference will be Group Chief Financial Officer Shadi Zahran, and, Board Member and CEO — KFH Investment Company Emad Al-Monayea.
As KFH-Group is a leading Islamic financial institution and one which has taken Islamic banking, finance and investing to global markets, it is delighted to support this annual conference dedicated to strengthening the prospects and performance of our industry. KFH-Group has long taken a pioneering role in the development of Islamic finance and fully supporting the work of AAOIFI and the World Bank in seeing Islamic instruments and capital markets further unify and expand.”
Dr Hamed Hassan Merah, Secretary General, AAOIFI, added, “We thank KFH-Group for its ongoing leadership and support for the industry. As one of the oldest Islamic financial institutions, KFH-Group has long played an important role in helping drive the kind of advancement and innovation that this annual conference aims to harness and drive forward. The industry today has achieved significant growth and expansion in the Islamic world and beyond and we are pleased to join together with industry leaders to discuss and adopt the right strategies for this next stage of growth.”
The event will commence with the launch of AAOIFI’s new standards publications and digital versions at a Gala Dinner on the 6th of December 2015 which will be attended by AAOFI, World Bank and CBB representatives as well as high level industry executives, scholars and academics.
The conference will be followed on the 8th through 11th of December 2015 by a number of training sessions including those to become an AAOIFI Certified Shari’a Adviser and Auditor (CSAA) and Certified Islamic Professional Accountant (CIPA). CSAA and CIPA are designed for Islamic finance professionals to enhance their technical skills and understanding and assist in the application of AAOIFI standards across the Islamic banking and finance industry globally.