Experts in Bahrain for Islamic finance forum

Dubai - The discussions will focus on the future progress of Islamic finance which is celebrating the 40th anniversary since launch.

Prime Minister of Bahrain Khalifa bin Salman Al Khalifa has deputed Rasheed Al Maraj, the Governor of the Central Bank of Bahrain, to open the 22nd Annual World Islamic Banking Conference, or WIBC.
Considered as the leading compass for the Islamic finance industry, the three-day event is being held under the patronage of HRH the Prime Minister and will see the participation of over 1,200 leaders of the industry from Europe, East Asia, Middle East and North Africa.
The discussions will focus on the future progress of Islamic finance which is celebrating the 40th anniversary since launch.
WIBC 2015 hosted no less than four central bank Governors and deputy governors, featuring speeches and discussions by the Governor of the Central Bank of Bahrain, Al Maraj, the Executive President of the Central Bank of Oman, Hamood Sangour Al Zadjali, Deputy Governor of the State Bank of Pakistan, Riaz Riazuddin and the Deputy Governor of the National Bank of Kazakhstan, Nurlan Kussainov.
Al Maraj said: "The announced centralised Shariah board for Bahrain has been given wide authority to direct the innovation in Bahrain's Islamic finance sector."
Bahrain is renowned as a global Islamic finance hub, coming second in Thomson Reuters' Islamic Finance Development Indicator, or IFDI, reflecting its healthy ecosystem as the country seeks to increase the proportion of assets being managed from its jurisdiction. Al Zadjali stated: "The Islamic finance industry will benefit from and lead wider socioeconomic development once an operational framework is set up."
Overall, the opening ceremony was attended by central bank dignitaries from Turkey, Bahrain, Kazakhstan, Oman, Pakistan, Sudan, South Africa and Indonesia, as well as senior officials from Abu Dhabi Global Market, Dubai International Financial Center Authority, Qatar Financial Centre Authority, Toronto Financial Services Alliance, Luxembourg for Finance and the Ministry of Finance & Treasury of the Republic of Maldives.
- business@khaleejtimes.com

• Bahrain