Bank committed to promoting Islamic banking industry

The Acting CEO of Khaleeji Commercial Bank (KHCB), has confirmed the bank’s support of all endeavours to support and promote the Islamic banking industry. 
Speaking after the bank participated as a silver sponsor at the AAOIFI – World Bank 12th annual conference, Tawfeeq Mohamed Bastaki, Chief Risk Officer, said that the sponsorship and participation in the workshops reflected the bank’s 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,” he said.
"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."
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. 

Source:BNA