KHCB sponsors World Bank 12th annual conference

Khaleeji Commercial Bank (KHCB) participated as a silver sponsor at the AAOIFI – World Bank 12th annual conference. Under the auspices of the Central Bank of Bahrain.

The conference was held at the Diplomat Hotel, attended by a number of Islamic financial institution leaders and workers of this sector.

The conference discussed several topics including the global compatibility of the application of technical standards in the Islamic financial industry, the vision and evaluation of senior bankers on the standardisation of these standards, its impact on their qualitative growth, as well as the development of a supervisory framework, reviewing the prominent challenges of the Islamic financial industry in markets new to joining the industry, credit rating and legal obligation.

Mr Tawfeeq Mohamed Bastaki, Chief Risk Officer, Acting CEO of KHCB, confirmed the bank’s support of all endeavours to support and promote the Islamic banking industry. He commented, "We are delighted to be one of the sponsors of this important conference. Our sponsorship and participation in the workshops reflect our continued commitment to supporting the initiatives and activities of Islamic banking authorities such as AAOIFI, which aims to focus on Islamic finance issues and discuss key developments. The conference touched on a number of important issues faced by the Islamic finance sector, which undoubtedly will impact the operation of Islamic financial institutions palpably."

Mr Bastaki added, "The AAOIFI conference presents a great opportunity to meet the region’s Islamic financial institution leaders and employees, to discuss relevant issues such as Sharia Supervisory Boards, products and services developed by Islamic banks to contribute to the growth and prosperity of the sector, thus benefiting from the combined efforts of those working in the field."

Headquartered in the Kingdom of Bahrain, KHCB is a leading Islamic bank that strives to achieve clients’ aspirations through an Islamic banking model that offers a comprehensive range of high quality Shari’a-complaint banking services and investment opportunities to individuals and companies. The bank is among the most distinguished on domestic and regional levels.

Source: BNA