Al Salam Bank hosted the second Sharia Departments Forum under the supervision of the Sharia Audit Department and with the support of the bank’s executive management.

Taking place at the bank’s headquarters, the distinguished event focused on bridging the gap between theoretical and practical applications of Islamic jurisprudence of financial transactions.

It aimed to enhance the qualifications of Islamic banking professionals and strengthen their communication with Sharia Supervisory Boards.

Held under the slogan ‘The Sharia Compliance Function: Reality and Future Prospects,’ the forum delved into the foundational role of Sharia compliance in Islamic banks.

It explored the history of the profession and its key figures, examining the essential qualifications for Sharia compliance positions. Effective methodologies for archiving Sharia board fatwas were also addressed, alongside discussions on anticipating future trends and harnessing the potential of artificial intelligence (AI) in the field.

Commenting on the occasion, Al Salam Bank deputy chief executive of corporate affairs Eihab Ahmed said, “Building upon the success of the inaugural event, we are pleased to host the second Sharia Departments Forum. We anticipate another productive event and welcome active participation from all Islamic banks in Bahrain. This forum serves as a vital platform to exchange knowledge and experiences, ultimately propelling the advancement of the kingdom’s Islamic banking sector.”

Last year’s Sharia Departments Forum addressed the critical role of Sharia audit and supervision in Islamic banking. Discussions encompassed best practices in Sharia governance, challenges faced by the Islamic banking sector, model frameworks for Sharia governance, and leveraging AI tools for future advancements.

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (