7th APRIL 2015 - Vol.XXXVIII No.018
Business News

KFH-Bahrain is key sponsor

MANAMA: Kuwait Finance House-Bahrain (KFH-Bahrain) and Khaleeji Commercial Bank (KHCB) were two of the platinum sponsors at the two-day Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) conference.

"KFH-Bahrain recognises the importance of such conferences that aim to enrich Islamic banking through discussion of topics related to the business," said KFH-Bahrain managing director and chief executive officer Abdulhakeem Alkhayyat.

"This year's conference provided an essential forum to meet and discuss various key issues among participants and specialists from Islamic banks and financial institutions.

"The AAOIFI continues to lead the way by gathering major financial institutions together and sets new standards and ethical codes for Islamic financial institutions," he added.

"The valuable discussions held during the sessions will help steer the Islamic finance industry towards growth and this influence will be felt worldwide as the concept of ethical banking continues to develop and expand, especially in the wake of the recent global financial crisis," he added.

"We are delighted to be a platinum sponsor of such an important conference," said KHCB chief executive officer Ebrahim Hussain Ebrahim.

"Our participation has demonstrated our continued commitment in supporting initiatives by Islamic banking associations such as AAOIFI that focus on discussing Islamic finance issues.

"The conference has addressed many current issues that the industry is facing such as practicalities of Sharia auditing, issues relating to investment management on the basis of agency (Wakeel) contract, and realitites of leasing (Ijara) contracts.

"AAOIFI has created a platform that allows our local and regional financial leaders to network and improve the Islamic finance industry," he said.

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