The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) together with Islamic Development Bank Group (IsDB) is set to host the 15th edition of its annual Islamic banking and finance conference “AAOIFI – IsDB Conference” under the auspices of the Central Bank of Bahrain. The two-day conference will be held on the 14 and 15 of December virtually, under the theme “Adaptability of Islamic finance post COVID-19: navigating through unprecedented times”.

The annual conference is considered as one of the most important gathering in Islamic finance industry for which Shari’ah scholars, policymakers and decision-makers come together on one platform to deliberate and discuss pressing topics in Islamic finance industry globally. Due to several restrictions imposed by governments around the world due to COVID-19 pandemic and for the benefit of all, this year the conference will be held virtually.  The conference will be supported by various partners and sponsors including Islamic banks and financial institutions, academic institutions, the technology and other support service providers and knowledge sharing platforms.

On this occasion, H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman, AAOIFI Board of Trustees stated that “AAOIFI has continued to provide guidance to the global Islamic finance industry for last three decades and it has done the same during these unprecedented times of COVID-19 through its statements as well as through these industry engagement opportunities. We are grateful to IsDB and its President H.E. Dr. Bandar Hajjar for their unwavering support to AAOIFI, its initiatives like this important conference”.

The two-day conference will have keynote speeches, special addresses from dignitaries, in addition to four panel discussions with renowned Shari’ah scholars, regulators leaders and experts in Islamic finance industry. The conference will explore the future of Islamic finance in post COVID-19 world, the changes in the business model for banks and financial institutions and the measures taken by these institutions that contribute to the social and economic developments. A dedicated panel discussion will be organized on key impacts of COVID-19 on accounting, governance and financial reporting and the guidance provided by the regulatory and supervisory authorities. Additionally, the role of Waqf in revitalization of Islamic economic system will be discussed together with AAOIFI’s new standards on Waqf. One of the important topics discussed through a dedicated panel will be the relationship between SDGs and Maqasid Al Shari’ah.

On this occasion, H.E. Dr. Bandar Hajjar, President, Islamic Development Bank Group stated that “IsDB is pleased to partner up with AAOIFI in putting together this important conference for the benefit of the global Islamic finance industry. We hope the deliberations in this conference will lay solid foundations for the important developments within various sectors.”

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