Jeddah: The Bahrain Institute of Banking and Finance (BIBF) and the Islamic Development Bank Institute (IsDBI) have embarked on a collaborative initiative to provide specialized training programs to strengthen the global Islamic finance community.

The programs cater to a diverse range of professionals from various financial institutions, regulatory bodies, supervisory authorities, and legal experts within the Islamic finance industry.

The first workshop, titled "Risk Management and Stress Testing for Islamic Financial Institutions," scheduled for October 2023, will provide practical guidance on building robust risk management frameworks, aiding Islamic financial institutions in effectively handling key risks, including concentrations, Expected Credit Losses (ECL) under IFRS-9, Shariah-compliant securitization, and off-balance sheet exposures.

The workshop will also include solvency stress testing simulations based on the Islamic Financial Services Board (IFSB) and IFRS-9 ECL frameworks.