Khalid Hamad Abdul-Rahman Hamad, Executive Director of Banking Supervision at the Central Bank of Bahrain on Tuesday said that it was the Kingdom of Bahrain which even in 1990’s introduced the Islamic finance in Europe.
“CBB believes in helping any prospective jurisdiction keen on learning and replicating the Islamic banking model. We receive many delegations at the CBB and we do extend all possible help,” he said.
Al Hamad was replying to questions during a Press conference marking the 20th edition of the WIBC later this year.
He also ruled out any threat coming from neighbouring or other region in terms of some emerging Islamic banking markets.
“Each development in Islamic finance actually complements Bahrain’s efforts to further consolidate the industry and further bolster its status as one of most sustainable and growing segments of the global economy,” he explained.
The 20th Anniversary World Islamic Banking Conference, which is held under the patronage of HRH Prince Khalifa Bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain and supported by the Central Bank of Bahrain, is set to gather industry pioneers, thought leaders, key regulators and leading industry players for discussions focused on transforming the industry to improve the stability, competitiveness and global growth of the international Islamic finance industry.
WIBC 2013 will also feature a high profile Industry Leaders’ Power Debate featuring internationally respected CEOs and decision-makers from the key players in the industry. Led by Ashar Nazim, Partner, Head of Islamic Banking Excellence Center, Ernst & Young and featuring Badlisyah Abdul Ghani, Executive Director/Chief Executive Officer of CIMB Islamic Bank Berhad; Afaq Khan, Chief Executive Officer, Standard Chartered Saadiq; Toby O’Connor, Chief Executive Officer of the Islamic Bank of Asia; and Steve Troop, Group Chief Executive Officer of Barwa Bank, the power debate session will analyse what changes the Islamic finance industry must undergo in order to adapt and evolve to meet the evolving needs of the end-user.
The eagerly anticipated World Islamic Banking Competitiveness Report, an original research project led by Ernst & Young’s award winning Global Islamic Banking Center, will also be launched on-site at WIBC 2013. This year’s special anniversary edition of the WIBC Competitiveness Report will analyse the performance of the industry, the missed opportunities, the strategic priorities, and the transformation that is underway to move the industry to a sustainably profitable path.
‘The World Comes to WIBC Initiative’ has also been further expanded this year and will feature official delegations representing exciting jurisdictions for Islamic finance including Bahrain, Luxembourg, the United Kingdom, Canada and Azerbaijan. WIBC 2013 will also feature a special ceremonial awards function that will recognize excellence, innovation and pioneering initiatives in the global Islamic banking and finance industry.