The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Development Bank (IsDB), represented by the IsDB Institute (IsDBI), are set to host the 16th edition of the annual Islamic banking and finance conference under the auspices of the Central Bank of Bahrain.

The two-day “AAOIFI – IsDB Conference” will be held in-person in Bahrain, on 1-2 December 2021, under the theme of “Solidifying the Foundations of Islamic Finance for Post-COVID World through Development of Robust Standards and Regulatory Frameworks”.

The annual conference is considered one of the most important gatherings in the Islamic finance industry. Shari’ah scholars, policymakers, and decision-makers come together during the conference to deliberate and discuss pressing topics in the Islamic finance industry globally.

On this occasion, H.E. Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman, AAOIFI Board of Trustees, stated: “AAOIFI is pleased to host the annual conference in its physical format once again. Overall, the last two years have been unprecedented. Nevertheless, AAOIFI, with the help of its stakeholders, continued to guide the global Islamic finance industry through its standards, capacity building initiatives, advocacy and awareness programs. We are grateful to the Central Bank of Bahrain and IsDB for their unwavering support of AAOIFI and initiatives like this important conference. We look forward to hosting all AAOIFI stakeholders in Bahrain, Insha Allah”.

This year, the conference is returning to in-person attendance, following the one-year gap due to the COVID-19 pandemic. Additionally, for the benefit of wider stakeholders, the conference will be aired live through Zoom, YouTube and other social media platforms. The event 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.

In his comments, Dr. Sami Al-Suwailem, the Acting Director-General of IsDB Institute and IsDB Group Chief Economist, said, “The IsDB Institute, on behalf of the IsDB, is pleased to work with AAOIFI to organize this important conference for the benefit of the global Islamic finance industry. We hope that the deliberations in this conference will have significant outcomes that will positively impact the industry in the post-COVID-19 world.”

The two-day conference will have keynote speeches, special addresses from dignitaries, in addition to seven-panel discussion sessions. The conference will explore strategies for recovery from the impacts of COVID-19 pandemic, key features of enhanced standardization in the area of Shari’ah governance and the joint work of AAOIFI and IFSB in this regard, the development of alternative benchmark rate, Maqasid al-Shari’ah, accounting treatment of Takaful, as well as sessions on Zakah and Islamic windows. The conference will host leading industry experts, Shari’ah scholars and representatives of regulatory and supervisory authorities to shed light on these topics in the post-COVID 19 era.