MANAMA: The Union of Arab Banks’ specialized four-day workshop titled Islamic Financing Instruments under the patronage of the Central Bank of Bahrain (CBB) kicked off at the Gulf Hotel on Sunday.
The workshop aims to shed light on the instruments of Islamic finance and all kinds of Sukuk, whether it is investment or equity type instruments, based on Musharaka, Mudaraba, etc or debt type instruments based on Murabaha, Salam and Ijarah contracts operational lease, lease to own and forward lease, etc, as well as handling the related risks, accounting treatment and sharia audit.
“An increasing interest in these instruments arose due to the impact of the global financial crisis where these instruments are based on real economy rather than the amplified financial economy that is affected by conventional financing instruments,” the organizers in a statement said.
Speakers include Dr. Khalid Al Fakih, AAOIFI, Dr. Hussein Hamed Hassan, Chairman of Higher Sharia Committee for Islamic Banks and Financial Institutions – UAE, Dr. Anwar Soubra, Head of Sharia Compliance, Bank Nizwa, Muscat/Oman, Dr. Mohammed Belghami, Deputy General Manager, Head of Risk Management, Bahrain Islamic Bank, Mr. Firas Hamdan, Member of AAOIFI Standards Committee, Dr. Mohammed Burhan Arbouna, Head of Shariah Compliance, Al Salam Bank, Bahrain.