KFH Group participates in AAOIFI Conference

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Kuwait City, Dec 2: Kuwait Finance House (KFH) Group proudly announces its successful sponsorship of the 18th Annual Islamic Banking and Finance Conference organized by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Development Bank Group (IsDB). The conference, themed “Strategies for the Impending Economic Slowdown and a Post Oil World: Through Economic Diversification and Leveraging Islamic Finance,” took place on 29-30 November 2023 at the Crowne Plaza Hotel in the Kingdom of Bahrain.

In the face of global economic challenges, including the aftermath of the COVID-19 pandemic, geopolitical conflicts, inflation and climate emergencies, KFH Group actively participated in discussions that addressed crucial topics outlined in the conference agenda. The event brought together thought leaders, economists, policymakers and industry experts to explore strategies for economic diversification and the role of Islamic finance in fostering resilience.

The 18th edition of the AAOIFI-IsDB Islamic finance conference delved into various essential topics, including the role of Islamic finance in diversifying economic activity, the impact of technology on economic diversification, challenges and opportunities posed by high benchmark rates, the use of Islamic finance for infrastructure development to combat climate change and the evolution of investment accounts towards real profit and loss sharing.

Mr. Abdulwahab lesa Alrushood, Acting Group CEO of KFH Group, shared his insights about the conference, stating, “In times of economic uncertainty, it is imperative for financial institutions to collaborate and contribute to the development of innovative and resilient financial solutions. Islamic finance, with its ethical principles and risk-sharing mechanisms, is well-positioned to play a crucial role in navigating the challenges of the future.”

“Having said that, we are very proud to continue our support of the Annual AAOIFI-IsDB Islamic Banking and Finance Conference for its 18th edition. It is a conference that brings much value to the region’s Islamic finance arena and consequently the financial sector as a whole.”, he added.

Additionally, Mr. Abdulhakeem Alkhayyat, Managing Director and CEO of KFH – Bahrain, expressed pride in the bank’s support for initiatives that foster dialogue and innovation in Islamic finance. He remarked, “As a prominent financial institution in Bahrain, we are proud to have supported this conference, providing a platform to address pressing issues and explore opportunities for sustainable economic growth. It aligns with KFH – Bahrain and the KFH Group’s commitment to contributing to the economic well-being of the communities we serve.”

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